Transcatheter Heart Valve Replacement Market to Reach USD 10.34 Billion by 2026; Owing to Increasing Prevalence of Cardiovascular Diseases Among…

Pune, April 27, 2020 (GLOBE NEWSWIRE) -- The global Transcatheter Heart Valve Replacement Market size is anticipated to reach USD 10.34 billion by 2026 on account of the increasing number of death cases caused due to cardiac medical conditions worldwide. THVR is a minimally invasive procedure for replacing a narrowed aortic valve which fails to function properly. Most of the THVR products are currently in their investigational stage. Fortune Business Insights offers a comprehensive overview of the market in their recent report titled, "Transcatheter Heart Valve Replacement Market Size, Share & Industry Analysis, By Product Type (Transcatheter Aortic Valve Replacement (TAVR), Transcatheter Mitral Valve Replacement (TMVR), and Transcatheter Pulmonary Valve Replacement(TPVR)), By End User (Hospitals, and Specialty Clinics& Others), and Regional Forecast, 2019-2026."According to this report, the market value stood at USD 4.04 billion in 2018 and is expected to rise at a CAGR of 12.5% during the forecast period set between 2019 to 2026.

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What are the Objectives of the Report?

The report offers a 360-degree overview of the market, primarily focusing on parameters such as drivers, restraints, opportunities, and challenges. It also discusses the key industry developments, current transcatheter heart valve replacement (TVHR) market trends, and other interesting insights offered by the market. Additionally, the report discusses the market segmentation in detail based on factors such as type, product, end-user, and geography. The report is available for sale on the company website for more information on the market and its purchase.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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Market Drivers Rising geriatric Population and Vulnerability to Cardiac Problems will Drive Market

The increasing geriatric population and their vulnerability to various health issues, especially cardiovascular diseases, is a significant factor in promoting transcatheter heart valve replacement market growth. In addition, the rise in the obese population is also expected to aid in the expansion of the market. Furthermore, the increasing popularity of minimally invasive surgeries and the success rates of use of various transcatheters in treatment are expected to create growth opportunities for the market in the long run.

Regional Segmentation: Increasing Adoption of Minimally Invasive Surgeries to Help Asia Pacific Market Witness Rapid Growth

North America earned the highest transcatheter heart valve replacement market shares with a revenue of USD 1.62 billion in 2018. This is owing to the increasing prevalence of cardiovascular disorders in the region, coupled with the availability of better healthcare and medical aid for patients. Furthermore, government-supported reimbursement policies for the benefit of citizens living in Canada and the U.S. are also boosting the regional market. On the other side, the market in Europe will rank second on account of the increasing demands for minimally invasive surgeries, coupled with the strategic company collaborations and new product launches by companies in the region. However, the market in Asia Pacific will emerge as the fastest-growing region attributable to the increasing number of geriatric population complaining of heart disorders and the growing demand for minimally invasive surgeries in the region.

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Competitive Landscape: Edwards Lifesciences Focus on Introducing Novel Products Will Aid in its Expansion

The global transcatheter heart valve replacement market is dominated by Edwards Lifesciences on account of the highest number of sales for their SAPIEN product, coupled with the presence of a diverse portfolio. Additionally, the continuous introduction of new products in the market by the company is also helping this company attract the highest transcatheter heart valve replacement market revenue in the forthcoming years. Abbott earned the second position in the market competition. Besides this, other players are entering into mergers and acquisitions, joint ventures, and investing massive amounts on the research and development of heart valves and gaining a competitive edge in the market.

List of Key Companies Operating in the Transcatheter Heart Valve Replacement Market include:

Significant Industry Developments of the Transcatheter Heart Valve Replacement Market include:

Jan 2020 Tendyne Transcatheter Mitral Valve Implantation (TMVI) Systemby Abbott received the CE mark and the approval for use all over Europe. It is also considered safe for patients with transcatheter mitral valve repair or open-heart surgery.

March 2017 FDA approved Melody, the transcatheter pulmonary valve by Medtronic, for treating patients with congenital heart diseases.

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Detailed Table of Content:

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Transcatheter Heart Valve Replacement Market to Reach USD 10.34 Billion by 2026; Owing to Increasing Prevalence of Cardiovascular Diseases Among...