Aortic Valve Replacement Devices Market Analysis Report, 2018 to 2025
by Susan Hill Business ConsultantThe global aortic valve replacement market size is expected to
reach USD 13.49 billion by 2025, according to a new report by Grand View
Research, Inc., registering a CAGR of 11.1% during the forecast period.
Technological advancements in aortic valves and favorable reimbursement
policies are boosting the growth of the market. Rising demand for minimally
invasive surgeries is also triggering the growth of the market.
Widening base of geriatric population is one of the
key growth stimulants. As per data published by Medicare and Medicaid services,
the number of aortic stenosis patients over 65 years of age is constantly
increasing in the U.S. Thus, rising incidence of aortic stenosis coupled with
improving treatment rates is expected to bolster the growth of the market over
the forecast period. In addition, growing preference for minimally invasive surgeries
is escalating the growth of the market. These procedures cause lesser trauma to
patient along with better outcomes and facilitate faster recovery than
conventional open-heart surgeries. MIS requires relatively lesser number of
hospital stays and is hence economically more viable than conventional invasive
surgeries.
Favorable reimbursement policies are one of the
crucial factors anticipated to drive the market in the near future. Centers for
Medicare & Medicaid Services (CMS) announced that it would provide coverage
for TAVR
under the Medicare National Coverage Determination policy. Moreover, increasing
number of clinical studies undertaken by key players for extending
interventional scope, analyzing safety of devices, and assessing subsequent
treatment alternatives is also working in favor of the market. However, product
recalls due to safety concerns are projected to inhibit the growth of the
market.
Further Key Findings from the Report Suggest:
- Minimally invasive surgeries emerged as the leading surgery type
owing to various advantages associated with them, such as limited trauma,
quicker recovery, and cost-effectiveness
- The transcatheter valve segment accounted for the largest revenue
share in 2017 due to rising number of clinical studies for expanding their
applications
- In terms of end users, hospitals were the dominant revenue
contributor in 2017 and ambulatory
surgery centers (ASCs) are expected to exhibit remarkable CAGR over
the forecast period
- North America emerged as the largest regional market with a revenue
share of 41.9% in 2017 and Asia Pacific is anticipated to post the highest
CAGR over the forecast period
- Themarket is highly fragmented in nature. Some of the prominent companies operating in the market are Edwards Lifesciences Corporation, Boston Scientific Corporation, St. Jude Medical, CryoLife, Medtronic, and LivoNova.
Grand View Research has segmented the global aortic
valve replacement market on the basis of surgery, product, end user, and
region:
Aortic
Valve Replacement Devices Surgery Outlook (Revenue, USD Million, 2014 -
2025)
- Open surgery
- Minimally invasive surgery
Aortic
Valve Replacement Devices Product Outlook (Revenue, USD Million, 2014 -
2025)
- Transcatheter aortic valve
- Sutureless valve
- Others
Aortic
Valve Replacement Devices End-user Outlook (Revenue, USD Million, 2014 -
2025)
- Hospitals
- Ambulatory surgery centers
- Others
Aortic
Valve Replacement Devices Regional Outlook (Revenue, USD Million, 2014 -
2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Russia
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- Taiwan
- Hong Kong
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
Access
full research report on global aortic valve replacement devices market:
Sponsor Ads
Created on Jun 21st 2019 08:13. Viewed 384 times.