New York, USA, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global percutaneous aortic valve implantation market. According to the report, the global market is projected to surpass $13,454.6 million and grow with a CAGR of 13.9% in the estimated period, 2021–2028. This all-inclusive report delivers a comprehensive overview of the current and future situation of the global market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of COVID-19 Pandemic on the Percutaneous Aortic Valve Implantation Market
The outbreak of the COVID-19 pandemic in 2020 has had a negative impact on the growth of the global percutaneous aortic valve implantation market. During the pandemic, the closure of numerous hospitals, clinics & nursing centers, and medical organizations in the lockdown period resulted in the postponement of regular appointments, treatments, surgeries, and others. In addition, due to lockdown restrictions and supply chain disruptions, the manufacture of percutaneous aortic valve implantation devices significantly declined. These factors greatly obstructed market growth during the pandemic.
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Factors Impacting the Percutaneous Aortic Valve Implantation Market Growth
The prime factor boosting the growth of the global percutaneous aortic valve implantation market is a substantial rise in the need for percutaneous aortic valve implantation devices due to growing cases of cardiovascular diseases across the globe. Furthermore, the growing preference for minimally invasive therapies by people for carrying out their surgeries is estimated to unlock profitable opportunities for market growth in the forecast period. However, the high initial costs and an absence of awareness regarding percutaneous aortic valve implantation systems are anticipated to deter the market’s growth.
The report segments the global percutaneous aortic valve implantation market into procedure, end user, and region.
Transfemoral Sub-Segment to Grab a Foremost Share of the Market
The transfemoral sub-segment of the procedure segment is foreseen to observe leading growth and garner $8,422.6 million in the forecast period. This growth is mainly owed to the increasing use of transfemoral procedures for patients that have a weak respiratory function and femoral arteries.
Hospitals & Cardiac Centers Sub-Segment to Witness Rapid Growth
The hospitals & cardiac centers sub-segment of the end user segment is predicted to grow enormously and hit $8,476.4 million in the forecast period. This growth is mostly owing to the increasing preference of people for hospitals & cardiac centers for their surgical procedures and other therapeutic treatments.
North America Region to Observe Supreme Growth
The report analyzes the global percutaneous aortic valve implantation market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the North America market is anticipated to observe noteworthy growth and surpass $5,193.5 million in the estimated period. This growth is chiefly owing to the rising cases of cardiovascular disorders and the existence of top market players in this region.
Key Players of the Global Market
The report states some of the leading players operating in the global percutaneous aortic valve implantation market including
- Boston Scientific Corporation
- Becton Dickinson and Company
- Bracco
- Edwards Lifesciences Corporation
- JenaValve Technology Inc.
- Abbott Laboratories
- Venus Medtech
- Medtronic Plc.
- JC Medical Inc.
- Meril Lifesciences
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market. For instance, in May 2021, Abbott, an American multinational medical devices and healthcare company, received the CE mark for NAVITOR™, a minimally invasive and next-generation transcatheter aortic valve implantation (TAVI) system to treat aortic stenosis.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Percutaneous Aortic Valve Implantation Market:
- Percutaneous Aortic Valve Implantation: An Effective Way to Cure Aortic Valve Stenosis
- Percutaneous Aortic Valve Implantation Market to Reach $13,454.6 in the 2021–2028 Timeframe, Due to their Increasing Number of Cardiovascular Cases Globally
