New York, USA, March 06, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global percutaneous aortic valve implantation market is anticipated to generate a revenue of $20,132.20 million and grow at a CAGR of 14.1% during the estimated timeframe from 2022 to 2031.
As per our analysts, with the increasing population suffering from cardiovascular diseases, the percutaneous aortic valve implantation market is expected to observe remarkable growth over the forecast period. Besides, the increasing implementation of various strategies and innovations by leading market players is further expected to bolster the growth of the market during the analysis timeframe. Moreover, the growing pervasiveness of minimally invasive therapies due to the increasing elderly population all across the globe is predicted to create huge growth opportunities for the market throughout the estimated period. However, the high setup cost of percutaneous aortic valve implantation may impede the growth of the market over the forecast timeframe.
Segments of the Percutaneous Aortic Valve Implantation Market
The report has divided the market into segments based on procedure, end-user, and region.
Procedure: Transfemoral Sub-Segment to be Most Productive
The transfemoral procedure sub-segment generated the highest share of the market in 2021. This is mainly because it is the procedure by which an artificial valve can be implanted through the femoral artery with minimal anesthesia. Moreover, the transfemoral procedure is designed for patients with weak femoral arteries and poor respiratory function which is expected to propel the growth of the market sub-segment over the analysis period.
End-User: Hospitals and Cardiac Centers Sub-segment to Profitable
The hospitals and cardiac centers sub-segment held the biggest share of the market in 2021. This is mainly due to the increasing preference of patients to perform their surgeries and carry out treatments at hospitals and cardiac centers. Furthermore, hospitals and cardiac centers offer advanced devices as well as skilled doctors, and a workforce that allures customers to seek treatments over here is expected to bolster the growth of the market sub-segment during the estimated period.
North America Region to Have Wide Growth Opportunities
The North America region of the percutaneous aortic valve implantation market registered the largest share of the market in 2021. This is mainly due to the high disposable incomes among individuals and the presence of leading brands across the region. In addition, the rising prevalence of cardiovascular diseases among individuals in the region is expected to boost the regional growth of the market over the forecast timeframe.
Covid-19 Impact on the Percutaneous Aortic Valve Implantation Market
Likewise, in various other industries, the outbreak of the Covid-19 pandemic has had a negative impact on the percutaneous aortic valve implantation market. The prolonged lockdown across the globe has affected the manufacturing capacity of percutaneous aortic valve implantation devices during the pandemic. Moreover, the postponement of most surgeries owing to strict government regulations to perform only surgeries in emergency departments (ED) has further declined the market growth over the crisis.
Key Players of the Market
The major players of the percutaneous aortic valve implantation market include
- JenaValve Technology, Inc.
- Edwards Lifesciences Corporation
- Venus Medtech
- Bracco
- Medtronic Plc.
- Becton Dickinson and Company
- Meril Lifesciences
- Abbott Laboratories
- JC Medical Inc.
- Boston Scientific Corporation
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to achieve a leading position in the global industry.
For instance, in September 2021, Abbott, an American multinational medical devices and healthcare company accepted the CE mark for its flagship product, namely, Navitor. It is a high-end transcatheter aortic valve implantation (TAVI) system. By launching this product in the European Union, Abbott aimed to expand its customer base across the European market.
Further, the report also presents other important aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about Percutaneous Aortic Valve Implantation Market:
- Percutaneous Aortic Valve Implantation: An Effective Way to Cure Aortic Valve Stenosis
- How Percutaneous Aortic Valve Implantation is Emerging as an Alternative Treatment for Bicuspid Aortic Valve Disease?
- Global Percutaneous Aortic Valve Implantation Market to Undergo Significant Growth by 2031 with Increasing Occurrence of Cardiovascular Diseases in the Ageing Population
