Rising adoption of minimally invasive (MI) procedures is the key driver for the growth of transcatheter aortic valve replacement market. Recently, it has been observed that many cardiologists prefer MI catheter-based procedures over traditional open heart procedures as they are safe and efficient. Benefits like low risk of infection, minimal blood loss, reduced need for blood transfusions, reduction in hospital stays, less pain and scarring, and faster healing and recovery time will result in the augmented adoption of MI procedures during the forecast period.
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The global transcatheter aortic valve replacement market analyst says increasing focus on clinical trials by various vendors and research universities will lead to new product development, boosting market growth. Vendors focus on launching these newly developed products in the untapped markets such the US and APAC. The analysts forecast global transcatheter aortic valve replacement market to grow at a CAGR of 16.9% during the period 2016-2020.
According to the transcatheter aortic valve replacement market report, raise in prevalence of aortic stenosis with the increase in the age to be one of the major drivers of the market. As people age, changes in the body can increase the chances of developing various diseases such as aortic stenosis. As the number of people over 60 years is expected to increase during the forecast period
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Geographical Segmentation of the Transcatheter Aortic Valve Replacement Market
In this market study, analysts estimate the EMEA region to account for more than 39% of the total market share by the end of 2020. In this region, the sudden rise in aging population and an increase in the occurrence of cardiovascular diseases are the two major factors that spur the demand for transcatheter aortic valve replacement procedures during the forecast period.
Competitive Landscape and Key Vendors
The global transcatheter aortic valve replacement market is consolidated owing to the presence of companies that offer products in the international market. To survive and succeed in this market, many vendors collaborate with smaller companies to develop new products, which will help bolster their sales during the forecast period.
Key players in the transcatheter aortic valve replacement market are: Edwards Lifesciences, Medtronic, Boston Scientific and St. Jude Medical
Other prominent vendors in the market are: Direct Flow Medical, Meril Life Sciences, SYMETIS, JenaValve Technology, and Sorin.
Further, the transcatheter aortic valve replacement market report states that the risk of potential complications associated with TAVR system restrains market growth.
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