Global Transcatheter Aortic Valve Replacement/Implantation (TAVR/TAVI) Market is expected to grow at a CAGR of 7.11% during the forecast period 2020-2027

A new research report published by Fior Markets with the title Transcatheter Aortic Valve Replacement/Implantation (TAVR/TAVI) Market by Procedure (Transapical Implantation,Transfemoral Implementation and Transaortic Implantation), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, Industry Forecast, 2020-2027.

The global transcatheter aortic valve implantation (TAVR/TAVI) market is expected to grow from USD 4.20 billion in 2019 to USD 7.21 billion by 2027, at a CAGR of 7.11% during the forecast period 2020-2027. North America is expected to witness the highest number of shares in the market owing to high R&D expenditure and an increase in health care investments by manufacturers. Hypertension, rise in coronary artery diseases, or heart failure boosts the growth in the region. Due to high unmet needs and sizeable geriatric population Israel is one of the rising market for TAVI. This, in turn, is expected to boost the growth of the market in the Middle East. Major players are investing in the Middle East market due to high demand for treatment and lack of facilities. Latin America region is lucrative for the major players of the market owing to rise in demand for unmet medical treatments. Drivers like diet, change in lifestyle due to rapid urbanization, cultural changes among the population, and risk prone behaviour has resulted in a rise in the incidence of cardiac diseases. It is expected to grow in South Africa.

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Some of the key players in Transcatheter Aortic Valve Replacement market are Meril Life Sciences Pvt. Ltd., JenaValve Technology Inc., Medtronic plc, JC Medical Inc., BraccoS.p.A (HLT, Inc.), Abbott Laboratories, Venus Medtech. Inc, NVT AG, and Boston Scientific Corporation (Symetis SA). High-risk surgical patients with severe aortic stenosis can benefit from new TAVR system.

The procedure segment is classified into three types’transapical implantation, transfemoral implantation, and transaortic implantation.  These procedures are differentiated based on the path chosen to place the valve into its place.  The Transapical Implantation surgery replaces the aortic valve through a catheter rather than open-heart surgery.  In the transfemoral approach, the catheter is placed through the artery in the thigh.  It was the highest revenue generating segment and is expected to grow further, followed by transapical implementation. The transaortic approach the catheter is placed through the aorta and goes from the top.

The drivers of transcatheter aortic valve replacement market are increase in the adoption rate of transcatheter aortic implantation along with new device approvals, rise in prevalence of aortic stenosis and increase in geriatric population and improvement of healthcare infrastructure in developing countries. The factors restraining the market growth are lack of reimbursement and stringent approvals for these devices and high cost of transcatheter aortic valve and its implantation procedures.

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About the report:
The global transcatheter aortic valve implantation (TAVR/TAVI) market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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