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Jan 04, 2024

Transcatheter Aortic Valve Replacement Market Size, Share & Trends Analysis Report By Implantation Procedure, By Material, By Mechanism, By End

NEW YORK, March 14, 2023 /PRNewswire/ -- Transcatheter Aortic Valve Replacement

NEW YORK, March 14, 2023 /PRNewswire/ -- Transcatheter Aortic Valve Replacement Market Size, Share & Trends Analysis Report By Implantation Procedure (Transfemoral, Transapical, Transaortic), By Material, By Mechanism, By End-Use, By Region, And Segment Forecasts, 2023 - 2030

Read the full report: https://www.reportlinker.com/p06428292/?utm_source=PRN

Transcatheter Aortic Valve Replacement Market Growth & Trends

The global transcatheter aortic valve replacement market size is expected to reach USD 10.2 billion by 2030, expanding at 7.2% CAGR from 2023 to 2030. The rising geriatric population and the prevalence of risk factors like aortic valve stenosis (AS) and other diseases continue to drive the demand for transcatheter aortic valve replacement (TAVR) procedures. According to the World Heart Federation 2022, rheumatic heart disease affected 39 million individuals globally. It is a disorder in which rheumatic fever permanently damages the heart valves. According to a January 2022 published study titled "Uncovering the treatable burden of severe AS in the U.K.", the prevalence of severe AS in the U.K. in 2019 was 1.48%, affecting 291,448 men and women aged 55 or above.

As a result of these figures, the demand for TAVR is expected to rise in the coming years, contributing to the market's expansion.Furthermore, the rising prevalence of heart valve disease and increased regulatory approvals for novel and sophisticated TAVR devices drive market growth.

The rising prevalence of AS disease is a main factor driving the market's expansion. For instance, in January 2022, JenaValve Technology, Inc. formed a strategic alliance with an exclusive technology licensing agreement with Peijia Medical Limited in China. According to the terms of the deal, Peijia has been granted exclusive rights in China to produce and distribute JenaValve's Trilogy TAVR systems for treating patients with significant symptomatic aortic regurgitation (AR) and severe symptomatic AS.

Transcatheter Aortic Valve Replacement Market Report Highlights

Based on the implantation procedure, the transfemoral segment held the largest market share of 53.6% in terms of revenue in 2022. Transfemoral is the most performed procedure in comparison with transapical, transaortic, and other implantation procedures. Moreover, smaller profile devices and expandable sheaths can be successfully delivered via the transfemoral technique

Based on material, the nitinol segment held the largest market share of 41.8% in 2022. Nitinol has strong biological and elastic properties, making it an ideal material for transcatheter heart valves

Based on the mechanism, the balloon-expandable valve segment held the largest market share of 57% in 2022. It promises robust growth due to its higher gradients when deployed in bicuspid anatomies and due to an increase in the rate of annular ruptures

Based on end-use, the hospital segment accounted for the largest market share of 90.3% in 2022. This is mainly due to the increasing patient base, increased TAVR procedures undertaken in hospitals, and favorable reimbursement scenarios

In 2022, North America dominated the global market with a share of around 38.2%. The primary drivers for market expansion are the rising prevalence of heart valve illness, the increased number of heart valve replacement procedures, product advancements, and the well-established healthcare infrastructure

According to the 2022 American College of Cardiology Foundation, the prevalence of AS is increasing in the U.S., with more than 1.5 million individuals in the U.S. suffering from AS

Read the full report: https://www.reportlinker.com/p06428292/?utm_source=PRN

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