Transcatheter Heart Valve Replacement Market Revenue to Cross USD 19.5 Bn by 2026: Global Market Insights, Inc.

Jan 18, 2021

Mitral valvular heart disease in the transcatheter heart valve replacement market will observe substantial growth rate of 23.1% till 2026 due to the incidences of mitral regurgitation and mitral valve stenosis across the globe.



SELBYVILLE, Del. - January 18, 2021 - (Newswire.com)

According to the latest report "Transcatheter Heart Valve Replacement Market by Product (Transcatheter Aortic Valve Replacement, Transcatheter Mitral Valve Repair and Replacement, Transcatheter Pulmonary Valve Replacement), Surgical Approach (Transfemoral Approach, Transapical Approach), Application (Aortic Valvular Heart Disease, Mitral Valvular Heart Disease, Pulmonary Valvular Heart Disease), End-use (Hospitals, Cath Labs), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of transcatheter heart valve replacement will cross $19.5 billion by 2026.

Favorable reimbursement scenario in North America and Europe will enhance market growth. The Medicare National Coverage Determination is a policy issued by the Centers for Medicare & Medicaid Services (CMS) that allows the coverage of these heart valves under the Coverage with Evidence Development in the U.S. In 2019, CMS updated the Medicare reimbursement policy for transcatheter aortic valve replacement (TAVR) procedure. The new national coverage policy will continue to cover TAVR under coverage with evidence development (CED) when the procedure is delivered according to an FDA-approved indication. Additionally, brand-specific reimbursement is available in Belgium and France, while in other countries reimbursement is established for the class of devices. Reimbursement differs for different types of access for the procedure only in France, Germany and Switzerland. In Germany and Switzerland procedure with transapical access has higher reimbursement. Such reimbursement policies are augmenting the number of people undergoing TAVR procedures.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/3170

Rising interest of manufacturers in emerging countries such as the Middle East and Africa will drive the transcatheter heart valve replacement market expansion. A large and diverse population in the Middle East & Africa is disproportionately affected by cardiovascular diseases. Therefore, foreign manufacturers are focusing on meeting the demand and supply of transcatheter heart valves. Prevalence of aortic stenosis in the middle east region is increasing the adoption of transcatheter heart valve replacement procedures. Thus, manufactures of aortic valves are witnessing immense growth opportunities in the Middle East & Africa.  

Transcatheter pulmonary valve replacement segment valued at more than USD 537 million in 2019. Transcatheter pulmonary valves are majorly in demand for treatment of patients having leaky or narrowed pulmonary valve or with underlying diagnosis having surgically implanted pulmonary valve. For instance, patients with truncus arteriosus and patients with pulmonary atresia or Ross procedure require transcatheter pulmonary valve replacement. In addition, transcatheter pulmonary valve reduces the number of heart surgeries a patient requires over their lifetime. This factor also contributes to the demand for transcatheter pulmonary valves.

Transapical approach segment in the transcatheter heart valve replacement market exceeded USD 1.16 billion in 2019. Transapical approach is preferred because proximity of the operator to the valve that eases crossing of the native valve with the delivery system. This approach also enables to avoid the passage of the delivery system around the aortic arch that could reduce the stroke risk of transcatheter aortic valve replacement. Moreover, transapical approach is preferred by the majority of healthcare providers because it offers the lowest access-related complication rates. These factors are potentially fueling the demand for transcatheter heart valves.

Transcatheter heart valve replacement market for mitral valvular heart disease application segment will showcase growth rate of over 23.1% till 2026 owing to the incidences of mitral regurgitation and mitral valve stenosis across the globe. According to a published article, approximately more than 4 million people in the U.S. suffer from mitral regurgitation with an annual incidence of around 50,000. Patients with such conditions are recommended to undergo transcatheter mitral valve replacement. Therefore, the demand for transcatheter heart valves is spurring rapidly. Transcatheter mitral valve replacement devices are undergoing feasibility trials that will further propel the number of patients undergoing transcatheter mitral valve replacement.

Hospitals segment in the transcatheter heart valve replacement market is anticipated to expand at 14.1% CAGR through 2026. Hospitals receive favorable reimbursement that compels patients to prefer hospitals over other healthcare settings for transcatheter heart valve replacement procedures as these procedures are expensive. Furthermore, increasing government initiatives for the management of valvular diseases is another factor contributing to the expansion of the hospital segment.

Brazil dominated the Latin America transcatheter heart valve replacement market and accounted for USD 47 million in 2019 driven by the growing geriatric population base suffering from aortic valvular disease. There has been a significant increase in a number of patients suffering from non-rheumatic calcific aortic disease in Brazil in the past few years. Therefore, the acceptance of transcatheter heart valve replacement technique has augmented in recent years in the country, thereby leading to increased demand and supply of transcatheter heart valves. Rapidly rising number of hospitals in the country and strong presence of well-established industry players investing in development of novel transcatheter heart valves is further contributing to the market demand.

Request for customization of this research report @

https://www.gminsights.com/roc/3170

Some of the major companies operating in transcatheter heart valve replacement market include are 4C Medical Technologies, Abbott, Boston Scientific, Edwards Lifesciences, HighLife Medical, JC Medical, LivaNova, Medtronic plc, and Neovasc among others. The industry participants are consistently focusing on innovative product launches in order to expand their geographical presence and customer base. 

Table of Contents (ToC) of the report:

Chapter 3   Transcatheter Heart Valve Replacement Market Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 - 2026

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.2    Industry pitfalls & challenges

3.4    Growth potential analysis

3.4.1    By product

3.4.2    By surgical approach

3.4.3    By application

3.4.4    By end-use

3.5    COVID-19 impact analysis

3.6    Regulatory landscape

3.7    Porter's analysis

3.8    Competitive landscape, 2019

3.8.1    Competitive matrix analysis, 2019

3.9    PESTEL analysis

Browse Complete Table of Contents (ToC) @

https://www.gminsights.com/toc/detail/transcatheter-heart-valve-replacement-market

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com


Related Links
Ventricular Assist Devices Market
Atrial Fibrillation Drugs Market



Press Release Service by Newswire.com

Original Source: Transcatheter Heart Valve Replacement Market Revenue to Cross USD 19.5 Bn by 2026: Global Market Insights, Inc.

YOUR NEWS, OUR NETWORK.

Do you have Great News you want to tell the world?

Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.