Transcatheter Heart Valve Replacement Market by Product (Transcatheter Pulmonary Valve Replacement, Transcatheter Aortic Valve Replacement, Transcatheter Mitral Valve Replacement), Surgical Approach (Transaortic Approach, Transapical Approach, Transfemoral Approach), Application (Aortic Valvular Heart Disease, Mitral Valvular Heart Disease, Pulmonary Valvular Heart Disease), End-User, Region, and Forecast to 2027
Newark, NJ, May 26, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global transcatheter heart valve replacement market is expected to grow from USD 4.54 billion in 2019 to USD 11.63 billion by 2027, at a CAGR of 12.5% during the forecast period 2020-2027. The Europe region stands as a promising market for transcatheter heart valve replacement and is expected to grow at a significant CAGR during the forecast period thanks to technological advancements in the region. In North America, the U.S.A. leads the market. Cardiovascular diseases are one of the most common illnesses among the American population. In, the Asia-Pacific region, India is expected to grow at a high rate due to factors such as growing awareness, increase in healthcare spending, rising elderly population, and an increasing number of heart disease cases.
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Key players in the global transcatheter heart valve replacement market are C Medical Technologies, Neovasc, JC Medical, HighLife Medical, LivaNova, Micro Interventional Devices, Asahi Kasei Group, Edwards Lifesciences Corporation, Meril Life Sciences Pvt. Ltd, Abbott Laboratories, Medtronic plc, and Boston Scientific Corporation among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global transcatheter heart valve replacement market.
For example, Meril Life Sciences launched Myval, a Transcatheter Aortic Valve (TAVR) in December 2018, making it the first Indian company to produce a transcatheter heart valve and rendering it commercially accessible on a worldwide scale.
On the basis of product, the market has been segmented into transcatheter pulmonary valve replacement, transcatheter aortic valve replacement, and transcatheter mitral valve replacement. The transcatheter mitral valve replacement segment is forecasted to grow at a high rate due to factors such as failed surgical bioprosthesis and the rising incidence of severe mitral annular calcification. On the basis of surgical approach, the market has been segmented into transaortic approach, transapical approach, and transfemoral approach. The transaortic approach segment is anticipated to grow at a healthy rate over the projected period due to many people being unable to go through surgery for severe, symptomatic aortic stenosis. On the basis of application, the market has been segmented into aortic valvular heart disease, mitral valvular heart disease, and pulmonary valvular heart disease. The mitral valvular heart disease segment is expected to grow at an extreme CAGR over the forecast period due to the growing prevalence of cardiovascular diseases in developing nations. On the basis of end-use, the market has been segmented into hospitals, cardiac centres, and ambulatory surgical centres. The cardiac centres segment is anticipated to grow at a high rate as well as hold a good amount of market share.
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About the report:
The global transcatheter heart valve replacement market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the 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, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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