TAVR: Key market research findings
- Increase in adoption of MI procedures
- Development of TAVR technology and self-expandable stent frame
Technavio has released a new market research report on the global TAVR market, which is expected to grow at a CAGR of more than 16% between 2016 and 2020. Growing inclination towards clinical trials has led to increased number of product launches and approvals from regulatory authorities, leading to growth in TAVRs. EMEA occupies 39% of the TAVR market, owing to the sudden rise in aging population and an increase in the occurrence of cardiovascular diseases in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the interesting trends gaining prominence in this market is the rising adoption of minimally invasive (MI) procedures is. Several cardiologists prefer MI catheter-based procedures over traditional open heart procedures as they are safe and efficient. Moreover, 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,” says Brahadeesh Chandrasekaran, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Technological advancements, material, size, and design of prosthetic valves and delivery devices have helped surgeons refine the aortic valve replacement procedures, leading to better post-surgical outcomes. Manufacturers are coming up with devices that offer features such as valve retrievability and repositioning, owing to the growing preference for MI transcatheter replacement of aortic valves. Also, there has been the development of transcatheter aortic valve that comprises a self-expanding stent frame for support and of anchoring the device in the aorta.
The leading vendors in the global TAVR market includes Edwards Lifesciences, Medtronic, Boston Scientific, and St. Jude Medical. This 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.
A more detailed analysis is available in the Technavio report, Global TAVR Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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