Transcatheter aortic valve implantation (TAVI), also called as transcatheter aortic valve replacement (TAVR), is a minimally invasive surgical procedure, wherein a diseased aortic valve is replaced with artificial valve through blood vessels. The procedure is designed to treat high-risk patients suffering from aortic stenosis. These high-risk patients refer to the patient population that are either inoperable or unfit to undergo surgical aortic valve replacement (SAVR) procedure. The older population (above 75 years of age) falls under the high-risk category, as the open heart surgery is too risky for them. TAVI involves implantation of transcatheter aortic valves to regenerate the blood circulation ability of the aortic valve.
The world TAVI market is driven by the rise in geriatric population that results in increase in prevalence of aortic stenosis, advancements in transcatheter aortic valves, and increase in adoption rate of TAVI devices. However, stringent and time-consuming government regulations for transcatheter aortic valves (being class III medical devices) and their high cost are set to restrain the market growth.
The report segments the TAVI market on the basis of procedure and geography. According to procedure, the market is classified into transfemoral, transapical, and transaortic implantation. On the geographical basis, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The TAVI market is highly competitive and consolidated in nature. Edwards Lifesciences Corporation, Medtronic plc, and St. Jude Medical, Inc. have dominated the overall market. These players have adopted product development as their key strategy, and hence launched several technologically advanced transcatheter aortic valves in the past few years. For instance, in March 2016, Direct Flow Medical, Inc. launched its next-generation DirecTrack TAVR delivery system in the European market. In the same year, Edwards Lifesciences Corporation received the Ministry of Health, Labour and Welfare (MHLW) approval for launch of its SAPIEN 3 transcatheter heart valve in the Japanese market. The market has also witnessed several approvals for clinical trials of transcatheter aortic valves. For instance, in June 2016, Medtronic plc received approval for its CoreValve Evolut R US Clinical Study.
Key players profiled in this report are:
Key market players are profiled and their strategies are analyzed thoroughly, which interprets the competitive outlook of the world TAVI market.
KEY MARKET SEGMENTS:
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