Global Transcatheter Aortic Valve Replacement (TAVR) Market Report
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1 Global Transcatheter Aortic Valve Replacement (TAVR) Market Report
2 Executive Summary The Transcatheter Aortic Valve Replacement (TAVR) is a relatively new technology in medical science which is a less invasive method of replacing the heart valve without undergoing the conventional by-pass surgery. Traditionally, the aortic valve replacement has required open heart surgery, thus disqualifying patients who are at high risk for the process or are too weak to undergo a surgery. Partially for this reason, the market of heart valve surgical procedure is witnessing a continuous decline as more and more patients requiring valve replacement are at high risk for a surgical treatment. This shortcoming of traditional surgery has paved the way for growth of TAVR. It was first commercially launched in Europe in 2007 and later in the United States. The market is very promising and has lot of opportunities and unmet demand to cater to. Economic growth worldwide, rising income and wealth levels, increasing ageing population and continuously increasing obese population are fueling the development of the global TAVR market. The growth of the TAVR market has high correlation with macro indicators, such as global GDP, and global healthcare expenditure. This report analyzes the development of the "global TAVR market", with focus on some of the major markets like the United States and Europe. The major trends, drivers facilitating growth of the TAVR market as well as the issues being faced by the industry are being presented in this report. The major players in the TAVR industry including Edward Lifesciences, Medtronic and St. Jude Medical have been profiled in the report highlighting their key financials and strategies for growth. By combining SPSS Inc. s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables affecting this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
3 The Transcatheter Aortic Valve Replacement (TAVR) is a relatively new technology in medical science which is a less invasive method of replacing the heart valve without undergoing the conventional by-pass surgery. Number of Procedures Global TAVR Market by Value ( ) The global TAVR market increased from US$... million in 2011 to US$... million in 2012, witnessing an increase of approximately.%. The TAVR market grew remarkably at a CAGR of % over the period In 2011 and 2012, and.tavr procedures were performed respectively worldwide. In the current scenario, industry experts estimate over 500 centers worldwide and more than. procedures in In 2012, the share of Europe in TAVR market was more than. %. Germany is the leading country in Europe with largest number of TAVR procedures. Other leading European countries include France, the United Kingdom and Italy. The US accounted for a share of. % in transcatheter valve replacement market in Global TAVR Procedures ( E) Global TAVR Market Share by Region (2012) E Europe/ROW The US
4 Number of Procedures TAVR market has grown over the past few years and expected to demonstrate a significant growth trajectory in coming years The US TAVR Market ( E) E 2014E 2015E The market generated revenues worth US$... million in 2011 and grew remarkably in the following year to generate revenues of US$... million. The TAVR market in the US is expected to reach US$... million by The TAVR penetration estimates show an increasing trend in the coming years. The most common TAVR delivery approaches today in the US is transfemoral, which accounted for.% of adoption for TAVR procedures in Approximately. TAVR procedures were performed in the US in 2012, of which. were inoperable patients. The revenue of TAVR market in Europe and ROW (excluding Japan) increased from US$... million in 2011 to US$... million in The US TAVR Procedures (2012) Europe/ROW TAVR Market Size ( E) E 2014E 2015E E 2014E 2015E
5 Economic growth worldwide, rising income and wealth levels, increasing ageing population and continuously increasing obese population are fueling the development of the global TAVR market. Global Transcatheter Aortic Valve Replacement (TAVR) Market Forecast ( F) 2012A 2013E 2014E 2015E 2016E The global TAVR market is projected to reach US$... million by 2016 from US$... million in The industry is expected to grow at a CAGR of.% till The strong economic growth will provide a strong tailwind to the global TAVR market, as inoperable and high risk patients who were earlier delaying the treatment will undergo TAVR procedures. The world economy is considerably improving and is expected to improve further in future which will catalyze the growth in global TAVR market as the procedures and technologies involved are generally of high cost. The growing urbanization has brought along the growing consumption of fast foods and junk foods leading to an increasing number of obesity cases. Hence, as the obesity cases increases, the market for TAVR would grow over the years. Due to high cost involved in health facilities, specifically related to heart disease, the private expenditure, reimbursement scenario and government support plays an important role in driving the industry growth. With the rise in healthcare expenditure and government support, people are able to spend more on healthcare facilities leading to a boost in demand.
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