The global transcatheter heart valve market is anticipated to
reach a value of USD 8.62 billion by 2024, according to a new report by Grand
View Research, Inc. The market is currently under-penetrated as these products
are approved only for geriatric patients who cannot undergo normal valve surgeries.
Growth drivers such as increasing prevalence of chronic cardiovascular
diseases, increasing economic development, improvement in reimbursement
scenario, and faster adoption of new technologies are expected to significantly
improve the usage rates over the forecast period.
The transcatheter heart
valve market is evolving rapidly due to the continuous investments in R&D
by the key market players such as Edwards Life Sciences, Medtronic, St. Jude,
and Boston Scientific. The technologically advanced products such as the SAPIEN
3 transcatheter heart valve and the TRINITY Valve are designed to reduce the
surgical complications and improve patient compliance. For instance, the
TRINITY TAVI system enables easy retrieval and repositioning of the device,
without compromising on patient safety and treatment outcomes.
Furthermore, the market
is expected to experience strong tailwinds on account of growing investor
interest, lucrative product pipeline, faster regulatory approvals, and high
competition to acquire potential start-ups. For example, some of the notable
investments in the market include the USD 37 million funding of Venus MedTech
by Goldman Sachs. In line with the market trends, the other market participants
such as Boston Scientific, Edward Life Sciences, and Medtronic have also
increased their investments to develop new products for management of mitral
valve regurgitation and tricuspid valve replacements.
Access Research Report of Transcatheter Heart Valve Market @ www.grandviewresearch.com/industry-analysis/transcatheter-valve-market
Further Key Findings from the Study Suggest:
· Aortic stenosis is the most prevalent valve
disease, and if untreated it can lead to death. In 2015, transcatheter aortic
valve segment accounted for the maximum revenue of over USD 1.6 billion and is
expected to retain its dominant share over the forecast period.
· However, the transcatheter mitral valve
segment is expected to emerge as the fastest growing with a CAGR of 23% over
the forecast period. Increasing number of elderly patients with mitral
regurgitation and growing demand for technologically advanced transcatheter
valve devices are expected to drive the usage of transcatheter mitral valves
over the forecast period.
· In 2015, the self-expanded transcatheter
accounted for the largest market share of 65%. These catheters are most
commonly used and, currently, most of the products that are available in the
market are based on this technology. However, balloon expanded transcatheters
are expected to have the fastest CAGR of 16.8% over the forecast period.
· North America held the maximum share of
nearly49% in 2015. A combination of different factors such as the presence of
large target population, high disposable income, strong reimbursement
framework, contribute toward the high revenue generated in this region.
· Asia Pacific is anticipated to register the
fastest CAGR of 17.8% over the forecast period. Increasing disease burden,
improvement in clinical trial regulations, growing preference for advanced
medical technologies, increase in medical tourism, and special incentives for
investments in healthcare sector are expected to strongly favor the growth in
this region.
· Some key market players Boston Scientific
Corporation, Bracco Group, Braile Biomedica, Direct Flow Medical, Edwards
Lifesciences, JenaValve, St. Jude Medical, Symetis. ValveXchange, Edwards
Lifesciences, and Medtronic are the early movers in this market have captured
significant market share in the North America, Europe, and the Asia Pacific
region.
Grand View Research has
segmented the transcatheter heart valve market by application, technology and
region:
Transcatheter Heart Valve Market Application Outlook
(Market revenue in USD Million, 2013 - 2024)
·
Transcatheter aortic valve
·
Transcatheter pulmonary valve
·
Transcatheter mitral valve
Transcatheter Heart Valve Market Technology Outlook
(Market revenue in USD Million, 2013 - 2024)
·
Balloon expanded transcatheter valve
·
Self-expanded transcatheter valve
Transcatheter Heart Valve Market Regional Outlook,
(Market Revenue in USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
MEA
o South Africa
Access Press Release of Transcatheter Heart Valve Market@ www.grandviewresearch.com/press-release/global-transcatheter-valve-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research
reports, customized research reports, and consulting services. To help
clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
