Transcatheter aortic valve implantation (TAVI), also known as transcatheter aortic valve replacement, is a procedure that allows an aortic valve to be implanted using a long narrow tube called a catheter. It is performed to treat high-risk patients suffering from aortic stenosis. It is a minimally invasive surgery of replacing heart valve without undergoing the conventional by-pass surgery. The global transcatheter aortic valve implantation market was 2.74 billion USD in 2018 and will reach 5.92 billion USD by 2025 with a CAGR of 11.63% during the period.
Growth by Region
Europe accounted for largest share in the market due to rise in prevalence of severe aortic stenosis and increase in population of inoperable patients. Asia Pacific will grow at a higher rate owing to growing unmet medical needs for the treatment of aortic stenosis and increasing awareness about TAVI.
Drivers vs Constraints
Increase in adoption rate of TAVI and improvement in healthcare infrastructure are driving the market growth. Increasing prevalence of aortic stenosis, increasing ageing population and rising healthcare expenditure are key factors driving the market growth. On the other hand, high cost of TAVI and stringent regulations for approval of devices is hampering the market growth.
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Industry Trends and Updates
Medtronic plc launched CoreValve Evolut PRO valve system in Europe for the treatment of aortic stenosis.
Edwards Lifesciences Corporation focused on R&D to launch Edwards Sapien 3 Ultra System and Centera. These include Axela sheath technology and on-balloon delivery design that make the procedure faster and reduce the possibility of any error.