According to the latest report by IMARC Group, titled “Transcatheter Aortic Valve Implantation (TAVI) Market by Procedure (Transfemoral Procedure, Transapical Implantation, Transaortic Implantation), End User (Hospitals, Diagnostic Labs, Ambulatory Surgical Centers, Clinics, and Others), and Region 2023-2028”, the global transcatheter aortic valve implantation (TAVI) market size reached US$ 5.63 Billion in 2022. Transcatheter aortic valve implantation (TAVI) is a minimally invasive surgical procedure that serves as an alternative to open-heart surgery for treating aortic stenosis. Aortic stenosis is a condition characterized by the narrowing of the aortic valve, restricting blood flow from the heart to the rest of the body. Unlike traditional surgical methods that require opening the chest cavity, TAVI allows for the replacement of the aortic valve via a catheter inserted through a small incision, often in the femoral artery in the leg. The hallmark characteristics of TAVI include its less invasive nature, shorter recovery times, and its suitability for patients who are at high risk for conventional surgical procedures. The procedure usually employs imaging techniques like fluoroscopy or echocardiography for precise valve placement. Features of the TAVI procedure often include the use of a balloon-expandable or self-expanding valve, which is mounted on a catheter and guided into position. Once in the desired location, the new valve is deployed, either by inflating the balloon or through self-expansion, effectively taking over the function of the diseased valve. TAVI’s features include high efficacy, reduced hospitalization durations, and its ability to improve the quality of life for patients who may not be candidates for traditional surgical interventions.
Global Transcatheter Aortic Valve Implantation (TAVI) Market Trends:
The increase in the global aging population represents one of the key factors driving the market growth. Moreover, technological innovations in valve design and implantation techniques are major growth inducing factors. In addition to this, successful clinical trials are bolstering the credibility and acceptance of TAVI as a viable treatment option which, in turn, are driving the growth of the market. The application of data analytics for post-procedure monitoring and feedback has improved success rates, thereby encouraging more clinicians to opt for TAVI. Besides this, the rising awareness among healthcare professionals and the general public is resulting in more referrals for TAVI procedures, which, in turn, is fostering the market growth. Along with this, better healthcare facilities and diagnostic tools help in early and accurate diagnosis, thereby bolstering the market growth. Apart from this, the availability of TAVI procedures in emerging markets is significantly contributing to the market growth. Furthermore, financial incentives and favorable reimbursement policies by governments have made TAVI more accessible, which is creating a positive outlook for the market. Other factors such as increasing competition among manufacturers, swift regulatory approvals for new devices and technologies, and collaboration between hospitals, manufacturers, and governments are driving the growth of the market across the globe. Looking forward, the market value is projected to reach US$ 12.03 Billion by 2028, expanding at a CAGR of 12.20% during 2023-2028.
- On the basis of the procedure, the market is segmented into transfemoral procedure, transapical implantation, and transaortic implantation. Currently, transfemoral procedure holds the largest market share.
- On the basis of the end user, the market is segmented into hospitals, diagnostics labs, ambulatory surgical centers, clinics, and others. At present, hospitals represent the leading end user.
- Region wise, the market is segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Presently, North America accounts for the majority of the market share.
- The competitive landscape of the industry has also been examined, with some of the key players being Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences Corporation, JC Medical Inc. (Genesis Medtech International Private Limited), Medtronic plc, Meril Life Sciences Pvt. Ltd., NVT AG (Biosensors International Group) and Venus Medtech (Hangzhou) Inc.
|Base Year of the Analysis
||Transfemoral Procedure, Transapical Implantation, Transaortic Implantation
|End Users Covered
||Hospitals, Diagnostic Labs, Ambulatory Surgical Centers, Clinics, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences Corporation, JC Medical Inc. (Genesis Medtech International Private Limited), Medtronic plc, Meril Life Sciences Pvt. Ltd., NVT AG (Biosensors International Group), Venus Medtech (Hangzhou) Inc., etc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800