Percutaneous Aortic Valve Implantation Market Size Projected to Generate $20,132.20 Mn by 2031Download Sample Reports Overview
The Global Percutaneous Aortic Valve Implantation Market Size is predicted to be valued at $20,132.20 million by 2031, surging from $5,410.20 million in 2021, at a noteworthy CAGR of 14.1%.
Impact Analysis of COVID-19 on the Percutaneous Aortic Valve Implantation Market
The COVID-19 pandemic has led to severe disruptions that have affected the demand, supply, import-export, and availability of percutaneous aortic valve implantation across end-use industries. The global market for percutaneous aortic valve implantation is expected to grow slowly in the face of the COVID-19 pandemic. The low growth rate is due to a decrease in the manufacturing capacity of percutaneous aortic valve implantation devices. Furthermore, many countries delayed percutaneous aortic valve implantation until and unless it was an emergency case; all of these factors reduced the demand for percutaneous aortic valve implantation.
Furthermore, the redirection of the medical device field to COVID-19 has reduced funding for R&D activities related to cardiac diseases. Moreover, most medical device companies are focusing on the production of ventilators for COVID-19; this has shifted the percutaneous aortic valve implantation market into minor neglect, which will harm the global percutaneous aortic valve implantation market during the pandemic. All of these factors are expected to have a negative impact on the global percutaneous aortic valve implantation market during the pandemic.
Global Percutaneous Aortic Valve Implantation Market Analysis
The enormous growth of the global percutaneous aortic valve implantation market is primarily due to an increasing population of people suffering from cardiovascular diseases. Cardiovascular diseases have an impact on the heart's function in the body. Furthermore, lifestyle changes, smoking, a lack of nutrition, high diabetes, and high cholesterol are among the factors driving the global percutaneous aortic valve implantation market. Furthermore, businesses are focusing on innovative product launches and key customer acquisition strategies. For example, in September 2019, Medtronic plc., a US-based medical device company, announced the launch of their TAVR System and Next-Generation Evolut PRO for the treatment of patients with severe aortic stenosis. These types of innovations raise consumer awareness of the benefits of using such products, thereby fueling market growth. These are the major factors anticipated to boost the percutaneous aortic valve implantation market share during the analysis timeframe.
Several limitations, however, have an impact on outcomes following percutaneous aortic valve implantation. Adverse events associated with this procedure, such as vascular complications, the need for pacemaker implantation, and paravalvular regurgitation, can all be factors limiting percutaneous aortic valve implantation treatment in younger, lower-risk patients, as can uncertainties about valve durability. These factors limit the growth of the percutaneous aortic valve implantation market.
Percutaneous valve intervention has quickly emerged as a significant advancement. Transcatheter aortic valve implantation (TAVI) for AS has largely replaced surgical replacement in many cases. Percutaneous mitral valve implantation, on the other hand, has taken longer to establish itself and is still largely experimental at the moment. Many different types of percutaneous prostheses are being developed for both the aortic and mitral positions, with more developments to come in the near future. Percutaneous mitral valve repair is also being actively pursued, with devices designed to treat leaflet prolapse and annular dilatation. With the exception of TAVI, the other procedures have only been used in the most extreme cases of impossible or extremely high-risk surgery, particularly in elderly patients.
Global Percutaneous Aortic Valve Implantation Market, Segmentation
The global percutaneous aortic valve implantation market is segmented based on procedure, end-user, and region.
The procedure segment is further classified into transfemoral, subclavian, and direct aortic. Among these, the transfemoral sub-segment accounted for a highest market share in 2021. Transfemoral aortic valve implantation is a procedure that involves inserting a catheter into a blood vessel in the upper leg or chest and passing it toward the aortic valve. The catheter is then used to guide and secure a new valve over the old one. Transfemoral implantation was the market leader due to advancements in technology such as the vascular closure system. This implantation is minimally invasive, allowing for faster recovery and a shorter hospital stay overall. These factors are expected to fuel the market sub segment during analysis period.
The end-user segment is further classified into hospitals and cardiac centers, and ambulatory surgical center. Among these, the hospitals and cardiac centers sub-segment accounted for a highest market share in 2021. This growth is expected to increase people's preference for hospitals and cardiac centers for their surgeries; additionally, surgeons in hospitals are highly professional and experienced. These are some of the factors that may help the market generate a profitable revenue over the forecast period. This is primarily due to an increase in the number of patients who prefer hospitals and cardiac centers for surgeries and treatments. Furthermore, hospitals and cardiac centers offer advanced devices, as well as skilled doctors and a workforce, to entice customers to seek treatment there, which is expected to fuel the market sub-growth segment's during the analysis period.
The percutaneous aortic valve implantation market in the Asia-Pacific region is projected to show the fastest growth. The Asia-Pacific region is expected to have the highest CAGR during the forecast period, owing to an increase in the prevalence of aortic stenosis diseases, developing healthcare infrastructure, and increased awareness of percutaneous aortic valve implantation. Because of its large population base and a number of cardiovascular and lifestyle diseases, Asia-Pacific offers lucrative opportunities for players in the percutaneous aortic valve implantation market. Furthermore, an increase in the number of transfemoral TAVI procedures in emerging economies such as India and China is one of the major factors driving market growth.
Key Players in the Global Percutaneous Aortic Valve Implantation Market
Some of the leading percutaneous aortic valve implantation market players are
- Boston Scientific Corporation
- Abbott Laboratories
- Becton Dickinson and Company
- Edwards Lifesciences Corporation
- JenaValve Technology, Inc.
- Venus Medtech
- Medtronic Plc.
- Meril Lifesciences
- JC Medical Inc.
In December 2022, Abbott had announced the availability of its latest-generation transcatheter aortic valve implantation (TAVI) technology, Navitor, in India for persons with severe aortic stenosis who are at high or extreme surgical risk.