Transcatheter Heart Valve Market Size, Growth Strategies 2022-28
The global transcatheter heart valve market size was valued at USD 6.33 billion in 2021 and is poised to grow at a significant CAGR of 15% during the forecast period 2022-28. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Transcatheter Heart Valve Market: by product type (Transcatheter Aortic Valve Replacement, Trans Catheter Mitral Valve Repair), By surgical procedure type (Transfemoral Approach, Transapical Approach, Transaortic Approach), By end-user (Hospitals, Ambulatory Surgical Centres, Cardiac Catheterization Laboratory) and Geography (North America, Latin America, Europe, Asia Pacific and Middle East and Africa) Forecast to 2028”.
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Huge investments in R&D by key players contributes to fuel the Transcatheter Heart Valve Market
Transcatheter heart valves (THV) are employed for replacing the heart valves with a prosthetic valve to treat severe mitral regurgitation and aortic stenosis. Such heart valve diseases can be acquired or congenital afterwards in life because of the age related life style changes and can be other underlying sicknesses. If these are not treated may cause blood clots, heart failure, stroke or dearth because of the sudden cardiac arrest. U.S. FDA approved Edwards Sapien 3 transcatheter heart valve, a transcatheter heart valve replacement device in June 2017.
Transcatheter heart valve market is projected to experience considerable CAGR rate over the evaluation time span. Moreover, increase in the heart disease cases and technological advances in transcatheter heart valves boosting the market growth. Key players in the market hugely emphasize on investments in R&D for developing and introducing different novel and technologically advanced devices to make heart valve procedures more efficient and safe and reinforcing their place in the marketplace. For example, transcatheter aortic valve replacement or transcatheter aortic valve implantation has become novel procedures for those who are considered high risk for standard valve replacement therapy. Apart from this, companies even emphasized on acquisitions and mergers for enhancing their market share.
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North America Dominates the Transcatheter Heart Valve Market
On the basis of geographical analysis, transcatheter heart valve market categorized into major regions such as Latin America, Europe, North America, Asia Pacific, Middle East and Africa. North America market is leading the market amid all other regions. In U.S. over five million people are diagnosed with heart valve disease every year. Europe market for transcatheter heart valves anticipated to value at considerable rate because of the growing consciousness and acceptance of new replacement devices for cardiac disorders and technological developments. India and China, emerging countries of Asia Pacific anticipated witnessing considerable growth in the market because of the important change in lifestyle, medical tourism and increasing cases of heart disease.
Competitive Analysis - Transcatheter Heart Valve Market:
A few of the major players operating in the transcatheter heart valve market are Edwards Lifesciences Corporation (U.S.), Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.) and Medtronic (U.S). Key players in the market hugely focus on following key strategies.
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