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Percutaneous Aortic Valve Implantation Market Report

RA08575

Percutaneous Aortic Valve Implantation Market by Procedure (Transfemoral, Subclavian, and Direct Aortic), End-user (Hospitals & Cardiac Centers and Ambulatory Surgical Center), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

RA08575

Pages: 160

Mar 2022

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Percutaneous Aortic Valve Implantation Market

Global Percutaneous Aortic Valve Implantation Market Analysis

The global percutaneous aortic valve implantation market is predicted to garner $13,454.6 million in the 20212028 timeframe, growing from $4,766.7 million in 2020, at a healthy CAGR of 13.9%.

Market Synopsis

Strategic alliances among market players, along with growth in number of cardiovascular cases globally, is expected to accelerate the growth of the percutaneous aortic valve implantation market.

However, high set-up cost associated with percutaneous aortic valve implantation is a growth-restricting factor for the market.

According to the regional analysis, the North America percutaneous aortic valve implantation market is anticipated to grow during the review period with revenue of $3,094.6 million and a CAGR of 14.7% due to increasing adoption of minimally invasive therapies in the region.

Percutaneous Aortic Valve Implantation Overview

Percutaneous aortic valve replacement (PAVR) is the replacement procedure of aortic valves that are suffering from severe aortic stenosis. PAVR is also known as percutaneous aortic valve implantation (PAVI), transcatheter aortic valve replacement (TAVR), and transcatheter aortic valve implantation (TAVI). This disease affects the circulatory system of the body through veins, arteries, and lymph.

Impact Analysis of COVID-19 on the Global Percutaneous Aortic Valve Implantation Market

The novel coronavirus pandemic had a devastating effect on several industries and the percutaneous aortic valve implantation market also experienced a negative growth during this period. Due to complete lockdown worldwide, manufacturing capacity of the percutaneous aortic valve implantation devices was affected; along with this, most of the surgeries got postponed because of strict government regulations to perform only surgeries that are in emergency department (ED). All such factors resulted in the revenue loss of the global percutaneous aortic valve implantation industry. In addition to this, there are many PAVI (percutaneous aortic valve implantation) devices that are under the FDA (Food and Drug Administration) approval. Thus, above-stated factors show that the pandemic affected the global percutaneous aortic valve implantation.  

Increasing Incidence of Cardiovascular Disorders to Surge the Market Growth

The global percutaneous aortic valve implantation industry is witnessing a massive growth mainly due to increasing population suffering from cardiovascular disorders. Moreover, due to cardiovascular diseases, functioning of aortic valves is affected that can cause heart strokes that requires valve replacement procedure.

Furthermore, top players that are operating in percutaneous aortic valve implantation market are adopting various strategies and innovations for staying upfront in the competitive environment along with approval of percutaneous aortic valve implantation by government. For instance, in 2019 Boston Scientific Corp., US based medical device manufacturing company, announced that their LOTUS Edge valve system was approved by FDA (Food and Drug Administration). This device is designed in such a way that gives relief to patient from aortic stenosis. These types of initiatives drive the global percutaneous aortic valve implantation market.

To know more about global percutaneous aortic valve implantation market drivers, get in touch with our analysts here.

High Setup Cost of Percutaneous Aortic Valve Implantation to Restrain the Market Growth

The high set up cost of percutaneous aortic valve implantation devices is one of the factors that is expected to restrain the growth of the global market during the forecast period. In addition to this, lack of awareness regarding the availability of percutaneous aortic valve implantation mostly in developing countries is one of the aspects that may create a negative impact on the growth of the market during the forecast period.

Growing Prevalence of Minimally Invasive Therapies in the Market to Create Massive Investment Opportunities

The global percutaneous aortic valve implantation market is growing at a very fast pace due to increasing population adopting minimally invasive therapies for their surgeries. Now-a-days, demand for minimally invasive procedures has increased because of patients opting for an efficient and effective therapy along with quick recovery which is propelling the growth of the percutaneous aortic valve implantation market.

In addition to this, growing aged population will increase the demand for invasive surgeries as open heart surgeries are risky for aged people. All such aspects are thereby positively affecting the market growth.

Furthermore, certain key vendors operating in percutaneous aortic valve implantation are adopting certain strategies and innovations for staying upfront in the competitive environment. For instance, Abbott Laboratories, medical device company in April 2020 announced that they have received CE Mark approval for their product known as TriClip Transcatheter Tricuspid Valve Repair System. This system is the non-surgical system that is used for treatment of percutaneous aortic valve implantation in people. All such type of factors may further lead to lucrative market opportunities for key players in the upcoming years.

To know more about global percutaneous aortic valve implantation market opportunities, get in touch with our analysts here.

Percutaneous Aortic Valve Implantation Market
By Procedure

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Based on procedure, the market has been divided into Transfemoral, subclavian, and direct aortic sub-segments of which the Transfemoral sub-segment is projected to generate the maximum revenue as well as show the fastest growth. Download PDF Sample Report

Source: Research Dive Analysis

The transfemoral sub-segment is predicted to have a dominating as well as fastest growing market share in the global market. The sub-segment is expected to register a revenue of $8,422.6 million during the forecast period. Transfemoral type of implantation is the transcatheter aortic valve implantation (TAVI) procedure in which artificial valve is implanted via femoral artery along with minimal anesthesia. Moreover, transfemoral implantation is mostly used for the patients that have weak respiratory function and femoral arteries. These factors may bolster the growth of the sub-segment during the forecast period. 

Percutaneous Aortic Valve Implantation Market
By End-User

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On the basis of end-user, the market has been sub-segmented into hospitals & cardiac centers and ambulatory surgical center. Among the mentioned sub-segments, the hospitals & cardiac centers sub-segment is predicted to show the fastest growth as well as garner a dominant market share.

Source: Research Dive Analysis

The hospitals & cardiac centers sub-segment of the global percutaneous aortic valve implantation market is projected to have the fastest growth as well as a dominant share and surpass $8,476.4 million by 2028, with an increase from $2,974.4 million in 2020. This growth in the market can be attributed to growing number of patients that are preferring hospitals & cardiac centers for their surgeries and treatments. The rapid growth of the sub-segment is attributed to better accessibility and expertise in hospitals. Moreover, hospitals & cardiac centers offer advanced devices along with skilled doctors and workforce which is predicted to influence the customers to take treatments in hospitals & cardiac centers. All such elements may increase the demand for hospitals & cardiac centers and further surge the market growth.

Percutaneous Aortic Valve Implantation Market
By Region

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The percutaneous aortic valve implantation market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Source: Research Dive Analysis

The Market for Percutaneous Aortic Valve Implantation in North America to be the Most Dominant

The North America percutaneous aortic valve implantation market accounted $1,844.7 million in 2020 and is projected to register a revenue of $5,193.5 million by 2028. The extensive growth of the North America percutaneous aortic valve implantation market is mainly driven by high disposable incomes with existence of top leading brands augmenting the industry growth in the region. Moreover, in North America most of the people are suffering from cardiovascular diseases that is fueling the market growth across the region. Furthermore, in 2019, according to the International Journal of Epidemiology, in the US, approximately 610,000 people were suffering from heart diseases and 735,000 people experienced heart attacks. These factors will ultimately drive the demand in the percutaneous aortic valve implantation market across the region.

The Market for Percutaneous Aortic Valve Implantation in Asia-Pacific to be the Fastest Growing

The share of Asia-Pacific percutaneous aortic valve implantation market is anticipated to grow at a CAGR of 14.7%, by registering a revenue of $3,094.6 million by 2028. The growth shall be a result of increasing prevalence of aortic stenosis diseases along with growing healthcare infrastructure. Moreover, growing surgeries such as transfemoral TAVI procedures in China and India will foster the Asia-Pacific percutaneous aortic valve implantation market, in the upcoming years.

Competitive Scenario in the Global Percutaneous Aortic Valve Implantation Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Competitive Scenario in the Global Percutaneous Aortic Valve Implantation Market

Source: Research Dive Analysis

Some of the leading percutaneous aortic valve implantation market players are Boston Scientific Corporation, Abbott Laboratories, Becton Dickinson and Company, Bracco, Edwards Lifesciences Corporation, JenaValve Technology, Inc., Venus Medtech, Medtronic Plc., Meril Lifesciences, and JC Medical Inc.

Porter’s Five Forces Analysis for the Global Percutaneous Aortic Valve Implantation Market:

  • Bargaining Power of Suppliers: The service suppliers of percutaneous aortic valve implantation market are high in number and are larger and more globalized. So, there will be less threat from the suppliers.
    Thus, the bargaining power of suppliers is low. 
  • Bargaining Power of Buyers: Buyers demand for percutaneous aortic valve implantation that are cost-effective and government approved. This has increased the pressure on the percutaneous aortic valve implantation providers to offer the best product in a cost-effective way. Thus, many suppliers are offering best yet cost–effective percutaneous aortic valve implantation products.
    Thus, the bargaining power of the buyers is high.
  • Threat of New Entrants: Companies entering the percutaneous aortic valve implantation market are adopting various innovations such as developing percutaneous aortic valve implantation that are high tech.
    Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: The threat of a substitute product or service in percutaneous aortic valve implantation is low because of the presence of highly technical percutaneous aortic valve implantation available in the industry.
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including Medtronic, and Abbott Laboratories. These companies are launching their value-added products and services in the international market and strengthening the footprint worldwide.
    Therefore, competitive rivalry in the market is high. 

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Procedure

  • Transfemoral
  • Subclavian
  • Direct Aortic

  Segmentation by End-User

  • Hospitals & Cardiac Centers
  • Ambulatory Surgical Center

  Key Companies Profiled

  • Boston Scientific Corporation
  • Abbott Laboratories
  • Becton Dickinson and Company
  • Bracco
  • Edwards Lifesciences Corporation
  • JenaValve Technology, Inc.
  • Venus Medtech
  • Medtronic Plc.
  • Meril Lifesciences
  • JC Medical Inc.

Frequently Asked Questions
 

A. The size of the global percutaneous aortic valve implantation market was over $4,766.7 million in 2020 and is projected to reach $13,454.6 million by 2028.

A. Edwards Lifesciences Corporation and Abbott Laboratories are some of the key players in the global percutaneous aortic valve implantation market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia-Pacific percutaneous aortic valve implantation market is anticipated to grow at 14.7% CAGR during the forecast period.

A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.

A. Edwards Lifesciences Corporation and Abbott Laboratories are investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By Procedure trends
2.3.By End-User trends 

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis

3.8.1.Stress point analysis
3.8.2.Raw material analysis
3.8.3.Manufacturing process
3.8.4.Sales Channel analysis
3.8.5.Operating vendors

3.8.5.1.Raw material suppliers
3.8.5.2.Procedure  manufacturers
3.8.5.3.Procedure  distributors

3.9.Strategic overview

4.Percutaneous Aortic Valve Implantation Market, by Procedure

4.1.Overview

4.1.1.Market size and forecast, by Procedure 

4.2.Transfemoral

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region, 2020-2028
4.2.3.Market share analysis, by country 2020 & 2028

4.3.Subclavian

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region, 2020-2028
4.3.3.Market share analysis, by country 2020 & 2028

4.4.Direct aortic

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region, 2020-2028
4.4.3.Market share analysis, by country 2020 & 2028

5.Percutaneous Aortic Valve Implantation Market, by End-User

5.1.Overview

5.1.1.Market size and forecast, by Sales Channel

5.2.Hospitals and Cardiac Centers

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2020-2028
5.2.3.Market share analysis, by country 2020 & 2028

5.3.Ambulatory Surgical Center

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2020-2028
5.3.3.Market share analysis, by country 2020 & 2028 

6.Percutaneous Aortic Valve Implantation Market, by Region

6.1.Overview

6.1.1.Market size and forecast, by region

6.2.North America

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by Procedure , 2020-2028
6.2.3.Market size and forecast, by End-User , 2020-2028
6.2.4.Market size and forecast, by country, 2020-2028

6.2.5.U.S.

6.2.5.1.Market size and forecast, by Procedure , 2020-2028
6.2.6.Market size and forecast, by End-User , 2020-2028

6.2.7.Canada

6.2.7.1.Market size and forecast, by Procedure , 2020-2028
6.2.8.Market size and forecast, by End-User , 2020-2028

6.2.9.Mexico

6.2.10.Market size and forecast, by End-User , 2020-2028

6.3.Europe

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by Procedure , 2020-2028
6.3.3.Market size and forecast, by End-User , 2020-2028
6.3.4.Market size and forecast, by country, 2020-2028

6.3.5.Germany 

6.3.5.1.Market size and forecast, by Procedure , 2020-2028
6.3.6.Market size and forecast, by End-User , 2020-2028

6.3.7.UK

6.3.7.1.Market size and forecast, by Procedure, 2020-2028
6.3.7.2.Market size and forecast, by End-User, 2020-2028

6.3.8.France

6.3.8.1.Market size and forecast, by Procedure, 2020-2028
6.3.8.2.Market size and forecast, by End-User, 2020-2028

6.3.9.Spain

6.3.9.1.Market size and forecast, by Procedure  2020-2028
6.3.9.2.Market size and forecast, by End-User, 2020-2028

6.3.10.Italy 

6.3.10.1.Market size and forecast, by Procedure , 2020-2028
6.3.10.2.Market size and forecast, by End-User, 2020-2028

6.3.11.Rest of Europe

6.3.11.1.Market size and forecast, by Procedure , 2020-2028
6.3.11.2.Market size and forecast, by End-User , 2020-2028

6.4.Asia Pacific

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by Procedure , 2020-2028
6.4.3.Market size and forecast, by End-User , 2020-2028
6.4.4.Market size and forecast, by country, 2020-2028

6.4.5.China

6.4.5.1.Market size and forecast, by Procedure , 2020-2028
6.4.5.2.Market size and forecast, by End-User , 2020-2028

6.4.6.Japan

6.4.6.1.Market size and forecast, by Procedure , 2020-2028
6.4.6.2.Market size and forecast, by End-User , 2020-2028

6.4.7.India 

6.4.7.1.Market size and forecast, by Procedure , 2020-2028
6.4.7.2.Market size and forecast, by End-User , 2020-2028

6.4.8.South Korea

6.4.8.1.Market size and forecast, by Procedure , 2020-2028
6.4.8.2.Market size and forecast, by End-User , 2020-2028

6.4.9.Australia 

6.4.9.1.Market size and forecast, by Procedure , 2020 2028
6.4.9.2.Market size and forecast, by End-User , 2020-2028
6.4.9.3.Comparative market share analysis, 2020 & 2028

6.4.10.Rest of Asia Pacific

6.4.10.1.Market size and forecast, by Procedure , 2020-2028
6.4.10.2.Market size and forecast, by End-User , 2020-2028

6.5.LAMEA

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by Procedure , 2020-2028
6.5.2.1.Market size and forecast, by End-User , 2020-2028
6.5.3.Market size and forecast, by country, 2020-2028

6.5.4.Latin America  

6.5.4.1.Market size and forecast, by Procedure , 2020-2028
6.5.4.2.Market size and forecast, by End-User , 2020-2028

6.5.5.Middle East 

6.5.5.1.Market size and forecast, by Procedure , 2020-2028
6.5.5.2.Market size and forecast, by End-User , 2020-2028

6.5.6.Africa

6.5.6.1.Market size and forecast, by Procedure , 2020-2028
6.5.6.2.Market size and forecast, by End-User , 2020-2028

7.Company profiles

7.1. Boston Scientific Corporation

7.1.1.Company overview
7.1.2.Operating business segments
7.1.3.Procedure portfolio
7.1.4.Financial Performance
7.1.5.Recent strategic moves & developments

7.2. Abbott Laboratories 

7.2.1.Company overview
7.2.2.Operating business segments
7.2.3.Procedure portfolio
7.2.4.Financial Performance
7.2.5.Recent strategic moves & developments

7.3.Becton Dickinson and Company 

7.3.1.Company overview
7.3.2.Operating business segments
7.3.3.Procedure portfolio
7.3.4.Financial Performance
7.3.5.Recent strategic moves & developments

7.4.Bracco

7.4.1.Company overview
7.4.2.Operating business segments
7.4.3.Procedure portfolio
7.4.4.Financial Performance
7.4.5.Recent strategic moves & developments

7.5.Edwards Lifesciences Corporation

7.5.1.Company overview
7.5.2.Operating business segments
7.5.3.Procedure portfolio
7.5.4.Financial Performance
7.5.5.Recent strategic moves & developments

7.6.JenaValve Techologies Inc., 

7.6.1.Company overview
7.6.2.Operating business segments
7.6.3.Procedure portfolio
7.6.4.Financial Performance
7.6.5.Recent strategic moves & developments

7.7.Venus Medtech

7.7.1.Company overview
7.7.2.Operating business segments
7.7.3.Procedure portfolio
7.7.4.Financial Performance
7.7.5.Recent strategic moves & developments

7.8. Medtronic Plc., 

7.8.1.Company overview
7.8.2.Operating business segments
7.8.3.Procedure portfolio
7.8.4.Financial Performance
7.8.5.Recent strategic moves & developments
7.9.Meril Lifesciences 

7.9.1.Company overview

7.9.2.Operating business segments
7.9.3.Procedure portfolio
7.9.4.Financial Performance
7.9.5.Recent strategic moves & developments

7.10.JC Medical Inc.  

7.10.1.Company overview
7.10.2.Operating business segments
7.10.3.Procedure portfolio
7.10.4.Financial Performance
7.10.5.Recent strategic moves & developments

Percutaneous aortic valve implantation (PAVI) is a medical procedure which involves replacement of aortic valve in such patients who are suffering from aortic stenosis. Aortic stenosis is a medical condition in which heart’s aortic (aorta is the chief artery that transports blood from heart to the rest of the body) valve becomes narrow. As a result, the flow of blood through this artery is affected which, in turn, affects the entire circulatory system. PAVI is also known as percutaneous aortic valve replacement (PAVR), transcatheter aortic valve replacement (TAVR), or transcatheter aortic valve implantation (TAVI).

Forecast Analysis:

As the overall lifestyle of people around the world, in general, has changed, new diseases have emerged over the years. Cardiovascular diseases like hypertension, atherosclerosis, etc. are few such diseases whose incidence has grown over the years. As per a report by Research Dive, the global percutaneous aortic valve implantation market is expected to reach a revenue of $13,454.6 million by 2028 and grow at 13.9% CAGR in the 2021–2028 timeframe. Growing number of these cardiovascular diseases among global populations is expected to be the primary growth driver of the percutaneous aortic valve implantation market in the 2021-2028 timeframe. Along with this, the strategic alliances between key players of this market are expected to drive the market further in the forecast years. Moreover, growing adoption of minimally invasive medical therapies is expected to create numerous growth and investment opportunities for this market. However, high setup cost associated with percutaneous aortic valve implantation is predicted to restrain the percutaneous aortic valve implantation market in the forecast years.

Regionally, the percutaneous aortic valve implantation market in the Asia-Pacific region is predicted to have the fastest growth rate with a CAGR of 14.7% in the forecast period. In the last few years, the Asia-Pacific region has witnessed a growth in the number of cardiovascular cases, especially the aortic stenosis ailment. Along with this, there has been a massive growth in the healthcare infrastructure in this region. Both these factors have helped the market in this region to grow substantially.

Some prominent market players include Abbott Laboratories, Bracco, Boston Scientific Corporation, Becton Dickinson and Company, JenaValve Technology Inc., Medtronic Plc., JC Medical Inc., Edwards Lifesciences Corporation, Venus Medtech, Meril Lifesciences, and many others.

Covid-19 Impact on the Percutaneous Aortic Valve Implantation Market:

The outbreak of the Covid-19 pandemic has had a massive negative effect on almost all industries and businesses across the world. The percutaneous aortic valve implantation market has faced a similar fate in the pandemic situation. Lockdowns ordered by various governments, in order to curb the spread of the virus, put a virtual halt to almost all manufacturing activities including the manufacturing of percutaneous aortic valves. Also, many doctors deferred surgeries and medical procedures related to aortic stenosis due to the fear of spread of coronavirus infection. Both these factors severely affected the demand for percutaneous aortic valves, thereby causing a decline in the growth rate of percutaneous aortic valve implantation market.

Significant Percutaneous Aortic Valve Implantation Market Developments:

The key players of the market are adopting numerous growth strategies & business tactics such as partnerships, mergers & acquisitions, and launches to gain a leading position in the market, thus helping the percutaneous aortic valve implantation market to flourish. For instance:

In June 2020, Sahajanand Medical Technologies (SMT) Pvt. Ltd., a global medical device company based in India, announced the acquisition of Vascular Concepts, an another medical device company. This acquisition will help SMT to expand its business in the aortic valves segment and help in its mission to provide care and support to patients suffering from cardiac-related diseases.

In May 2021, Abbott, a US-based multinational medical devices manufacturing company, received CE mark for its flagship product called Navitor. With this, Navitor, a high-end transcatheter aortic valve implantation (TAVI) system, can now be freely launched and sold in the European Union. This will help Abbott to increase its foothold in the European market and expand its customer base there.

In August 2021, Medtronic, an American-Irish based medical device company, won the FDA approval for its Evolut FX TAVR system. With this approval, Medtronic can now launch this product in the market. The Evolut FX TAVR system is an ultra-modern transcatheter aortic valve replacement system which has been designed to provide a flexible delivery system. This FDA approval and the product launch is expected to place Medtronic in a leading position in the percutaneous aortic valve implantation market in the coming years.

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