The global transcatheter aortic valve implantation (TAVI) market size reached US$ 6.3 Billion in 2023. Looking forward, the market is projected to reach US$ 16.1 Billion by 2032, exhibiting a growth rate (CAGR) of 10.99% during 2023-2032. The increasing prevalence of coronary artery disease, the rising adoption of minimally invasive therapies, and the expanding geriatric population represent some of the key factors driving the market.
Transcatheter Aortic Valve Implantation (TAVI) refers to a minimally invasive surgical procedure used to treat aortic stenosis, a heart condition in which the aortic valve narrows, resulting in reduced blood flow from the heart to the rest of the body. During the procedure, a small incision is made in the patient's groin or chest. A catheter is inserted and guided through the femoral artery or the aorta to the narrowed aortic valve.
An artificial valve made of biological material, such as animal tissue or synthetic materials, is deployed through the catheter and positioned inside the narrowed valve, which expands to replace the old valve, allowing blood to flow freely from the heart. TAVI can be performed under local anesthesia. Compared to traditional surgery, it has a shorter recovery time and a lower risk of complications and can be performed on patients who are too ill or frail to undergo open-heart surgery.
In addition to this, the extensive funding in research and development (R&D) initiatives and ongoing technological advancements in the TAVI procedure, such as the development of bioprosthetic valves, self-expanding valves, and other innovative devices, are strengthening the market growth. Furthermore, the bolstering growth of the healthcare industry, the increasing number of clinical trials, continuous product innovations, the expanding geriatric population, and favorable reimbursement policies are presenting remunerative growth opportunities for the market.
According to the report, North America was the largest market for transcatheter aortic valve implantation (TAVI). Some of the factors driving the North America transcatheter aortic valve implantation (TAVI) market included the expanding prevalence of cardiovascular diseases, the rising adoption of minimally invasive therapies, and ongoing technological advancements.
2. What is the expected growth rate of the global Transcatheter Aortic Valve Implantation (TAVI) market during 2024-2032?
3. What are the key factors driving the global Transcatheter Aortic Valve Implantation (TAVI) market?
4. What has been the impact of COVID-19 on the global Transcatheter Aortic Valve Implantation (TAVI) market?
5. What is the breakup of the global Transcatheter Aortic Valve Implantation (TAVI) market based on the procedure?
6. What is the breakup of the global Transcatheter Aortic Valve Implantation (TAVI) market based on the end user?
7. What are the key regions in the global Transcatheter Aortic Valve Implantation (TAVI) market?
8. Who are the key players/companies in the global Transcatheter Aortic Valve Implantation (TAVI) market?
Transcatheter Aortic Valve Implantation (TAVI) refers to a minimally invasive surgical procedure used to treat aortic stenosis, a heart condition in which the aortic valve narrows, resulting in reduced blood flow from the heart to the rest of the body. During the procedure, a small incision is made in the patient's groin or chest. A catheter is inserted and guided through the femoral artery or the aorta to the narrowed aortic valve.
An artificial valve made of biological material, such as animal tissue or synthetic materials, is deployed through the catheter and positioned inside the narrowed valve, which expands to replace the old valve, allowing blood to flow freely from the heart. TAVI can be performed under local anesthesia. Compared to traditional surgery, it has a shorter recovery time and a lower risk of complications and can be performed on patients who are too ill or frail to undergo open-heart surgery.
Transcatheter Aortic Valve Implantation (TAVI) Market Trends
The growing number of patients suffering from heart failure, hypertension, coronary artery disease, and cardiovascular diseases (CVDs), particularly aortic stenosis, is primarily driving the transcatheter aortic valve implantation (TAVI) market growth. Besides this, the shifting consumer preference for minimally invasive surgery (MIS) over conventional open-heart surgery due to its advantages, such as reduced hospital stay, shorter recovery time, improved outcomes, and lower overall healthcare spending, is creating a positive outlook for the market. Moreover, the escalating consumer awareness about aortic valve disease and available treatment options leading to early diagnosis and timely treatment is contributing to the market growth.In addition to this, the extensive funding in research and development (R&D) initiatives and ongoing technological advancements in the TAVI procedure, such as the development of bioprosthetic valves, self-expanding valves, and other innovative devices, are strengthening the market growth. Furthermore, the bolstering growth of the healthcare industry, the increasing number of clinical trials, continuous product innovations, the expanding geriatric population, and favorable reimbursement policies are presenting remunerative growth opportunities for the market.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global transcatheter aortic valve implantation (TAVI) market, along with forecasts at the global, regional, and country levels from 2024-2032. The report has categorized the market based on procedure and end user.Procedure Insights:
- Transfemoral Procedure
- Transapical Implantation
- Transaortic Implantation
End User Insights:
- Hospitals
- Diagnostic Labs
- Ambulatory Surgical Centers
- Clinics
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
According to the report, North America was the largest market for transcatheter aortic valve implantation (TAVI). Some of the factors driving the North America transcatheter aortic valve implantation (TAVI) market included the expanding prevalence of cardiovascular diseases, the rising adoption of minimally invasive therapies, and ongoing technological advancements.
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global transcatheter aortic valve implantation (TAVI) market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences Corporation, JC Medical Inc. (Genesis Medtech International Private Limited), Medtronic plc, Meril Life Sciences Pvt. Ltd., NVT AG (Biosensors International Group), Venus Medtech (Hangzhou) Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. How big is the global Transcatheter Aortic Valve Implantation (TAVI) market?2. What is the expected growth rate of the global Transcatheter Aortic Valve Implantation (TAVI) market during 2024-2032?
3. What are the key factors driving the global Transcatheter Aortic Valve Implantation (TAVI) market?
4. What has been the impact of COVID-19 on the global Transcatheter Aortic Valve Implantation (TAVI) market?
5. What is the breakup of the global Transcatheter Aortic Valve Implantation (TAVI) market based on the procedure?
6. What is the breakup of the global Transcatheter Aortic Valve Implantation (TAVI) market based on the end user?
7. What are the key regions in the global Transcatheter Aortic Valve Implantation (TAVI) market?
8. Who are the key players/companies in the global Transcatheter Aortic Valve Implantation (TAVI) market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Transcatheter Aortic Valve Implantation (TAVI) Market
6 Market Breakup by Procedure
7 Market Breakup by End User
8 Market Breakup by Region
9 Drivers, Restraints, and Opportunities
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Abbott Laboratories
- Boston Scientific Corporation
- Edwards Lifesciences Corporation
- JC Medical Inc. (Genesis Medtech International Private Limited)
- Medtronic plc
- Meril Life Sciences Pvt. Ltd.
- NVT AG (Biosensors International Group)
- Venus Medtech (Hangzhou) Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 147 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 6.3 Billion |
| Forecasted Market Value ( USD | $ 16.1 Billion |
| Compound Annual Growth Rate | 10.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
