According to FutureWise analysis the market for Transcatheter Heart Valve Replacement (TAVI) in 2023 is US$ 6.56 billion, and is expected to reach US$ 20.08 billion by 2031 at a CAGR of 15.00%.
Transcatheter heart valves are in high demand due to technological advances in surgical techniques. A favorable reimbursement scenario and growing interest from manufacturers are also contributing to higher transcatheter heart valve sales. Recently, the global transcatheter heart valve replacement market has seen increased product development initiatives by companies, which has contributed to an increase in market share. There will be a tremendous surge in sales of transcatheter pulmonary valves as they are in high demand as are used to treat patients with narrowed and leaky pulmonary valves. Transcatheter heart valves are also useful for reducing patients' need for heart surgeries over the course of their lives, thereby increasing their sales. Transcatheter heart valve demand is thereby driven by these factors, driving segment growth in the forecast period. Due to increased research investment by major manufacturers in order to enter into strategic collaborations, transcatheter heart valve replacement is emerging as a new market frontier. A new product designed to replace a transcatheter heart valve is expected to boost sales of transcatheter heart valves. With people rapidly shifting towards minimally invasive treatment options, the introduction of transcatheter technology spikes transcatheter heart valve demand. As an example, Medtronic recently launched a transcatheter heart valve replacement system called Evolut PRO+. In addition, sales of transcatheter heart valves are expected to skyrocket as proven clinical studies show transcatheter heart valves are safer than surgical valves, and there are fewer complications.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Transcatheter Heart Valve Replacement (TAVI) Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Transcatheter Heart Valve Replacement (TAVI) Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.