Transcatheter Aortic Valve Replacement (TAVR) Market Set for Significant Growth, Predicted Reach $8.79 Billion by 2028

The Business Research Company's Transcatheter Aortic Valve Replacement (TAVR) Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 3, 2024 /EINPresswire.com/ -- The transcatheter aortic valve replacement market size has experienced rapid growth, climbing from $4.63 billion in 2023 to $5.32 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. It will grow to $8.79 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. This growth is driven by factors such as the rising prevalence of aortic regurgitation, increasing cardiovascular diseases, patient preference for minimally invasive therapies, global expansion of TAVR procedures, and favorable reimbursement policies.

Rising Prevalence of Aortic Stenosis Drives Market Expansion
The increase in the prevalence of aortic stenosis is a key driver for the transcatheter aortic valve replacement market. Aortic stenosis, characterized by the narrowing of the aortic valve, can be effectively treated with TAVR, offering a less invasive alternative to surgical procedures and aiding in restoring blood flow. According to a report by the Baker Heart and Diabetes Institute, the number of Australians suffering from heart valve disease is projected to rise significantly, underscoring the growing demand for TAVR procedures.

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Major Players and Innovations
Leading companies in the transcatheter aortic valve replacement market include Abbott Laboratories Inc., Medtronic PLC, Boston Scientific Corporation, Edwards Lifesciences Corporation, and more. These companies are focused on developing innovative TAVR systems to cater to a broader patient base and enhance revenue streams.

In a recent development, Abbott Laboratories received FDA approval for the Portico with FlexNav transcatheter aortic valve replacement (TAVR) system in September 2021. This system features a self-expanding valve design with intra-annular leaflets, ensuring optimal blood flow and preserving access to coronary arteries for future interventions.

Market Segmentation
The transcatheter aortic valve replacement market is segmented by:
• Product: Self-Expandable Transcatheter Aortic Valves, Balloon-Expandable Transcatheter Aortic Valves, Mechanically Expanded Transcatheter Aortic Valves
• Material: Valve Frame Material, Valve Leaflet Material
• Procedure: Transfemoral Implantation, Transapical Implantation, Transaortic Implantation
• Application: Aortic Stenosis, Aortic Regurgitation, Other Applications
• End-User: Hospitals, Independent Cardiac Catheterization Labs, Ambulatory Surgical Centers, Other End-Users

Regional Insights: Asia-Pacific Emerges as the Fastest-Growing Region
North America dominated the transcatheter aortic valve replacement market in 2023, while Asia-Pacific is anticipated to exhibit the highest growth rate during the forecast period, driven by increasing healthcare infrastructure and rising adoption of minimally invasive procedures.
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Transcatheter Aortic Valve Replacement Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Transcatheter Aortic Valve Replacement Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on transcatheter aortic valve replacement market size, transcatheter aortic valve replacement market drivers and trends, transcatheter aortic valve replacement market major players, competitors' revenues, market positioning, and market growth across geographies. The transcatheter aortic valve replacement market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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