SAN FRANCISCO, July 3, 2018 /PRNewswire/ --
The 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.
Browse full research report with TOC on "Aortic Valve Replacement Devices Market Size, Share And Trends Analysis Report By Surgery (Open, Minimally Invasive), By Product (Transcatheter Aortic Valve, Sutureless Valve), By End-user, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/aortic-valve-replacement-devices-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
- The market 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.
Browse related reports by Grand View Research:
- Respiratory Syncytial Virus (RSV) Diagnostics Market - The global respiratory syncytial virus (RSV) diagnostic market size was valued at USD 681.8 million in 2016 and is expected to grow at a CAGR of 9.6% during the forecast period.
- Medical Robotic Systems Market - The global medical robotic systems market size was valued at USD 7,470.7 million in 2014 and is expected to grow at a double digit CAGR over the forecast period.
- Hemostasis and Tissue Sealing Agents Market - The global hemostasis and tissue sealing agents market size was valued at USD 3.8 billion in 2014. Hemostats and sealants are medical devices used to cease bleeding and hemorrhage caused by injuries and surgical procedures.
- X-ray Photoelectron Spectroscopy Market - The global X-ray Photoelectron Spectroscopy market size was valued at USD 496.04 million in 2016 and is expected to witness a CAGR of 6.22% over the forecast period.
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
- Aortic Valve Replacement Devices End-user Outlook (Revenue, USD Million, 2014 - 2025)
- Ambulatory surgery centers
- Aortic Valve Replacement Devices Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Hong Kong
- Latin America
- Middle East & Africa
- South Africa
Explore the BI enabled intuitive market research database, The Grand Library, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
SOURCE Grand View Research, Inc.