Transcatheter aortic valve replacement (TAVR) is a minimally invasive heart surgery used to replace an aortic valve that has constricted and is unable to open efficiently (aortic valve stenosis). TAVR can also be referred to as transcatheter aortic valve implantation (TAVI). For those who are at an intermediate or high risk from surgical aortic valve replacement, TAVR may be an alternative (open-heart surgery) solution. TAVR includes replacing the damaged aortic valve with a biological tissue valve obtained from cow or pig heart tissue.
The doctor may gain access to the heart through a blood artery in the leg or through a minor incision in the chest to perform TAVR. A hollow tube (catheter) is inserted through the access point. The catheter is guided via blood vessels to the heart and into the aortic valve with the help of modern imaging techniques. Once the new valve is in place, a balloon on the catheter's tip is inflated to expand the replaced valve into place, and then the catheter is removed.
COVID-19 Impact analysis
Globally, the COVID-19 pandemic has impacted routine hospital services. Elective procedures are being reduced significantly across the country to reduce the risk of infection and to transform operating rooms into COVID-19 emergency facilities. A vast majority of participants cancelled planned appointments, routine check-ups, or chronic condition treatments. To resume elective procedures, various safety standards must be followed, including maintaining sanitation, isolating patients before and after surgery, and testing patients for COVID-19 before they are admitted for surgery. Delaying of routines or preventative screenings was acceptable during the pandemic's beginning stage, especially with patients utilizing efficient telemedicine services. As a result, the COVID-19 crisis is expected to have a substantial impact on the aortic valve replacement devices market.
Top Impacting Factors
- The rise in frequency of valvular disorders, such as aortic stenosis and aortic regurgitation, and the growth in desire for less invasive operations, are among the significant trends driving the aortic valve replacement devices market expansion.
- Initiatives launched by various government organizations to raise awareness regarding valve replacement surgeries are also predicted to fuel market expansion in the coming years.
- Thegrowth in geriatric population, combined with high reimbursement rates, is expected to drive the rise in demand for aortic valve replacement devices.
- There are no drugs that can reverse the effects of aortic stenosis. As a result, benefits of aortic valve replacement devices are accelerating in the market.
- Furthermore, the increase in number of clinical studies conducted by key players for extending the interventional scope, analyzing device safety, and evaluating subsequent treatment alternatives is expected to create lucrative growth opportunities for the aortic valve replacement devices market during the forecast period.
- However, product recalls due to safety concerns and shortage of skilled labors are expected to hinder the market expansion.
New Product Launches to Flourish Aortic Valve Replacement Devices Market
In April 2019, Boston Scientific Corporation, received a US FDA approval for LOTUS Edge Aortic Valve. The LOTUS Edge valve system is the only FDA-approved aortic valve that gives physicians an option to reposition and completely recapture the valve once it has been fully deployed.
In August 2019, Medtronic got an approval by the FDA for its Evolut R System for patients with symptomatic severe native aortic stenosis, who are at a low risk of surgical mortality.
Surge in Prevalence for Cardiovascular Disorders
One of the primary factors driving the growth of the aortic valve replacement market is the rising pool of patients suffering from cardiovascular diseases. Cardiovascular diseases cause aortic valves to malfunction, further fueling the desire for an effective valve replacement method. Transcatheter aortic valve replacement is becoming more common as the prevalence of aortic stenosis rises.
Key Benefits of Report
- This study presents the analytical depiction of the aortic valve replacement devices along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the aortic valve replacement devices market share.
- The current market is quantitatively analyzed to highlight the aortic valve replacement devices market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed aortic valve replacement devices market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in Aortic Valve Replacement Devices Report
- Who are the leading market players active in the aortic valve replacement devices market?
- What current trends will influence the aortic valve replacement devices market in the next few years?
- What are the driving factors, restraints, and opportunities in the aortic valve replacement devices market?
- What future projections would help in taking further strategic steps in the aortic valve replacement devices market?
- What is aortic valve replacement devices?
- What is aortic valve replacement devices market prediction in the future?
- Who are the leading global players in the aortic valve replacement devices market?
- What are the key benefits of the aortic valve replacement devices market report?
Aortic Valve Replacement Devices Market Report Highlights
By Product Type
By End User
Key Market Players
CryoLife Inc., Boston Scientific Corporation, Medtronic, Edwards Lifesciences Corporation, LivoNova Plc., Abbott Laboratories