Transcatheter aortic valve implantation (TAVI) is a minimally invasive heart procedure to replace a narrowed aortic valve that fails to open properly (aortic valve stenosis). Transcatheter aortic valve implantation (TAVI) is sometimes called transcatheter aortic valve replacement (TAVR). The global Transcatheter Aortic Valve Implantation market is projected to rise at a considerable rate in the forthcoming years. Demand for transcatheter aortic valve implantation is increasing due to the rise in the prevalence of aortic stenosis.
Key factors such as an increase in the old age population, technological progressions in transcatheter aortic valves, and the high adoption rate of TAVI devices significantly contribute towards the growth of the global Transcatheter Aortic Valve Implantation (TAVI) market. Furthermore, an increase in the number of patients suffering from CVDs such as coronary artery diseases, hypertension, or heart failure, escalation in the adoption of minimally invasive procedures, reduction in hospital stay duration, and lower risk of infection are other prime aspects that boost the growth of the global Transcatheter Aortic Valve Implantation (TAVI) market.
Covid-19 Impact on Transcatheter Aortic Valve Implantation Market
In addition, the current Transcatheter Aortic Valve Implantation Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Transcatheter Aortic Valve Implantation Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Based on Procedure, the Transfemoral Implantation segment accounted for the largest share in the global Transcatheter Aortic Valve Implantation (TAVI) market and the trend is projected to continue during the forecast period. Transfemoral Implantation is the standardized TAVI procedure, wherein an artificial valve is implanted through the femoral artery with minimal anesthesia. The procedure has been accepted by a majority of doctors due to its positive outcomes. Furthermore, the Transaortic segment is expected to grow at the highest CAGR during the forecast period. This is due to the positive outcomes of several clinical trials.
In terms of region, North America is anticipated to hold a major share of the global Transcatheter Aortic Valve Implantation (TAVI) market. This is due to an increase in health care investments by manufacturers and high R&D expenditure by companies for the development of these devices. Furthermore, an increase in the prevalence of coronary artery diseases, hypertension, or heart failure propels the growth of the transcatheter aortic valve implantation market in North America. On the other hand, the market in the Asia-Pacific is projected to grow at a considerable rate in the forthcoming years. This is due to the presence of abundant growth opportunities in terms of unmet medical needs for the treatment of aortic stenosis and an increase in awareness about TAVI procedures among physicians in this region.
Transcatheter Aortic Valve Implantation Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Some key developments and strategies adopted by manufacturers in Transcatheter Aortic Valve Implantation are highlighted below.
· In September 2021, Abbott announced that the U.S. Food and Drug Administration (FDA) has approved the company's Portico™ with FlexNav™ transcatheter aortic valve replacement (TAVR) system to treat people with symptomatic, severe aortic stenosis who are at high or extreme risk for open-heart surgery. With this latest TAVR advancement, Abbott continues to offer the industry's leading portfolio of structural heart solutions that include innovative, minimally invasive therapies to repair or replace diseased or damaged heart valves or close openings in the heart.
· In August 2021, Medtronic announced the FDA has approved its next-generation self-expanding transcatheter aortic valve replacement system for patients with severe symptomatic aortic stenosis. According to a press release from the company, the fourth-generation system (Evolut FX) has gold markers on the frame to help operators better visualize depth and valve leaflet location during implantation.