Transcatheter Aortic Valve Implantation (TAVI) Market- By Procedure (Transfemoral, Transapical, and Transaortic), By End User (Clinical Laboratories, Hospitals, and Diagnostic Centers), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

While the standard treatment for patients diagnosed with severe aortic stenosis is transcatheter aortic valve implantation (TAVI) has become developed as a reliable, minimally invasive surgical procedure and robust alternative for elderly patients (above 75 years of age) at high risk for open surgery due to their age and other factors. TAVI procedure involves implantation of transcatheter aortic valves to regenerate the blood circulation ability of the aortic valve. It is also known as transcatheter aortic valve replacement (TAVR) or percutaneous valve replacement.  The need of this implantation is growing due to the increase in prevalence of aortic stenosis, its minimally invasive nature, lack of need for full sedation, shorter hospital stay, and faster recovery time. The Transcatheter Aortic Valve Implantation Market valued 4098.92 million USD in 2020 and is expected to reach 14800.413 million USD by 2030 will register to grow at a CAGR of 13.8% during the forecast period.

Market Segmentation:

Based on the procedure, the global TAVI market is divided into transfemoral, transapical, and transaortic implantation. Depending on end user, the market is categorised as clinical laboratories, hospitals, and diagnostic centers. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

An increase in the prevalence of aortic stenosis, rising geriatric population are the major drivers for the growth of the global immunodiagnostics market. Moreover, rising adoption of TAVI devices, new medical device approvals and improved medical infrastructure in developing countries are some of the other factors which will drive the market during forecast time. However, the high cost of transcutaneous aortic valves and transplant procedures is responsible to restrain the market growth.  On the rather hand, the use of TAVI systems for new indications, rise in healthcare expenditure in emerging economies, and increase in interest of key players are creating immense opportunities for the market growth during forecast timeframe. However, associated high risk, tough regulatory problems and high cost related to this procedure is considered to be the challenge for market in upcoming years.

Geographic Analysis:

North America holds the largest revenue share in the global TAVI market. In 2017, CVD used for diagnosis of more than 90 million Americans and 800,000 deaths were reported in the U.S., stated by American College of Cardiology Foundation. An increase in health care investments by manufacturers and high R&D expenditure by companies for the development of these devices is creating growth opportunities for the market in this region. Moreover, rise in prevalence of coronary artery diseases, hypertension, or heart failure fuel the growth rate in the global market. Europe is expected to significant growth in the market due to the technology advancements in that region. In addition, Asia pacific is anticipated to fastest growing regional market, owing to rise in investments by various key players in this region, increase in awareness and developments in health care infrastructure during the forecast time frame. Latin America and the Middle East & Africa region is projected to moderate growth of the market during the forecast period, due to the lack of facilities and an increased need for treatment devices has drawn the major key players to invest in this market attributing to rise in demand for unmet medical treatments. 

Competitive Scenario:

The key players of global TAVI markets are Abbott Laboratories, Medtronic plc. Boston Scientific Corporation, Meril Life Sciences Pvt. Ltd, Edwards Lifesciences Corporation, JenaValve Technology Inc., NVT AG, JC Medical Inc., and Venus Medtech Inc.

Transcatheter Aortic Valve Implantation (TAVI) Market Report Scope