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The Global Percutaneous Aortic Valve Implantation Market Anticipated to Generate a Revenue of $13,454.6 Million, Growing at a CAGR of 13.9% from 2021 to 2028

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The global percutaneous aortic valve implantation market is estimated to be valued at $13,454.6 million by 2028, surging from $4,766.7 million in 2020, at a noteworthy CAGR of 13.9%. 

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

The global market for percutaneous aortic valve implantation is estimated to experience a low growth amid the COVID-19 pandemic. The low growth is the result of decreased manufacturing capacity of percutaneous aortic valve implantation devices. Also, percutaneous aortic valve implantation got postponed in many countries until and unless it was the emergency case, all such factors decreased the demand for percutaneous aortic valve implantation.

Furthermore, diversion of the medical devices field towards COVID-19 has decreased the funding for R&D activities that is related to cardiac diseases. In addition to this, most of the medical device companies are focusing on manufacturing of ventilators for COVID-19; this has shifted the percutaneous aortic valve implantation market in slight neglect and therefore this will harming the global percutaneous aortic valve implantation market amid the pandemic. All such factors are predicted to negatively impact the global percutaneous aortic valve implantation market amid the pandemic.     

Global Percutaneous Aortic Valve Implantation Market Analysis

The enormous growth of the global percutaneous aortic valve implantation market is mainly attributed to increasing population with cardiovascular diseases. Cardiovascular diseases affect the heart function in body. Moreover, lifestyle changes, smoking, lack of nutrition, high diabetes, and cholesterol are some of the factors that drive the global percutaneous aortic valve implantation market. Furthermore, companies are focusing on innovative product launch and key strategies to attract the customers. For instance, in September 2019, Medtronic plc., US based medical device company, announced that they have launched their TAVR System and Next-Generation Evolut PRO for the treatment of severe aortic stenosis patients. These types of innovation are creating awareness among people to use such products and thus fueling the market growth.       

However, percutaneous aortic valve implantation needs high research and development that includes high cost set up of percutaneous aortic valve implantation devices that may create a negative impact on the market during the forecast period.

The increasing number of people that are preferring invasive surgeries along with increasing healthcare professionals across the emerging markets will drive the global percutaneous aortic valve implantation market.

Furthermore, the companies involved in the global percutaneous aortic valve implantation are following effective strategies and launch of innovative products to grow in the market. For instance, Abbott Laboratories, US based medical device company, announced in September 2021, that their products such as Portico with FlexNav transcatheter aortic valve replacement (TAVR) system was approved by U.S. Food and Drug Administration (FDA); this system is designed to treat people with severe aortic stenosis with extreme risk for open-heart surgery. Such aspects may further lead to lucrative market opportunities in the market in the upcoming years.      

Global Percutaneous Aortic Valve Implantation Market, Segmentation

The global percutaneous aortic valve implantation market is segmented based on procedure, end-user, and region.

Procedure:

The procedure segment is further classified into transfemoral, subclavian, and direct aortic. Among these, the transfemoral type sub-segment is anticipated to have the fastest as well as dominant growth and surpass $8,422.6 million by 2028, with an increase from $2,860.0 million in 2020. 

The market growth can be attributed to popularity of transfemoral implantation among all the other types of procedures because it is considered as the standardized TAVI procedure; this factor may create a positive impact on the sub-segment throughout the forecast period.

End-user:

The end-user segment is further divided into hospitals & cardiac centers and ambulatory surgical center. The hospitals & cardiac centers sub-segment is anticipated to have a dominating share as well as be the fastest growing sub-segment in the global market and register a revenue of $8,476.4 million during the analysis timeframe.

This growth is projected to increase people’s preference towards the hospitals & cardiac centers for their surgeries; also, in hospitals surgeons are highly professional and experienced. These are some of the aspects that may aid in the generation of a lucrative revenue for the market throughout the forecast period.         

Region:

The percutaneous aortic valve implantation market in the North American region is projected to witness dominant share. This market generated a revenue of $1,844.7 million in 2020 and is further projected to reach up to $5,193.5 million by 2028.  

The demand for percutaneous aortic valve implantation is surging in the North America region specifically because of factors such as increasing population suffering from cardiovascular diseases in the region. Moreover, the presence of top leading providers in the region such as Edwards Lifesciences Corporation and Abbott Laboratories is one of the factors anticipated to boost the market in the North America region.  

Key Players in the Global Percutaneous Aortic Valve Implantation Market

Some of the leading global percutaneous aortic valve implantation market players are

  1. Boston Scientific Corporation
  2. Abbott Laboratories
  3. Becton Dickinson and Company
  4. Bracco
  5. Edwards Lifesciences Corporation
  6. JenaValve Technology, Inc.
  7. Venus Medtech
  8. Medtronic Plc., Meril Lifesciences,
  9. JC Medical Inc.

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

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

  • Bargaining Power of Suppliers: The suppliers involved in the market are extensive in number and are globalized. So, there is low threat from the suppliers.
    Thus, the bargaining power of the suppliers is low. 
  • Bargaining Power of Buyers: Buyers have high bargaining power, primarily because of the huge number of percutaneous aortic valve implantation devices available in the market that are government approved. The buyers can hence choose the percutaneous aortic valve implantation that best fits their preferences.
    Hence, the bargaining power of buyers is high. 
  • Threat of New Entrants: Startups entering this market are providing innovative percutaneous aortic valve implantation to the customers. However, companies that are in the percutaneous aortic valve implantation are much more globalized.
    Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: There is low threat of substitute because of availability of highly technical and government approved percutaneous aortic valve implantation devices.
    Therefore, the threat of substitutes is low. 
  • Competitive Rivalry in the Market: The ventures operating in the global percutaneous aortic valve implantation are opting for various businesses deployment strategies to hold their position in the market. Several companies are launching their value-added services in the international market and strengthening the footprint worldwide.
    Therefore, competitive rivalry in the market is high.
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