Global Transcatheter Aortic Valve Replacement (TAVR) Market Report: 2015 Edition
Transcatheter aortic valve replacement (TAVR) is a relatively new technology in the field of medical science. It is a minimally invasive procedure to replace a narrowed aortic valve that fails to open properly (aortic stenosis). It is sometimes also called transcatheter aortic valve implantation (TAVI). Aortic valve replacement typically requires open heart surgery, thus it disqualifies patients who are at high risk for the process or are too weak to undergo a surgery. As a result, the market of heart valve surgical procedures is witnessing a continuous decline as more and more patients requiring valve replacement are at risk for a surgical treatment. This shortcoming of the traditional surgical method has paved way for the popularity and adoption of TAVR. It was first commercially launched in Europe in 2007 and later in the United States. The market for TAVR is regarded to be promising with immense growth opportunities and unmet demand to cater to.
The key factors which are anticipated to drive market growth include ageing population, healthcare expenditure, increasing obese population and gross domestic product apart from increasing prevalence of inoperable aortic stenosis. Some of the noteworthy developments of this industry include advancement in technologies and favorable reimbursement in Europe. However, the industry remains threatened by certain challenges which include regulatory issues, associated high risk and high cost of TAVR devices.
This report offers a comprehensive analysis of the global TAVR market, along with an in-depth study of the TAVR procedures and the regional markets of the US, Europe and Japan. The global TAVR market is dominated by two major players, Edwards Lifesciences and Medtronic which operate in a highly dynamic environment working in the direction of tapping maximum market share. Both the companies in addition to St. Jude Medical have been profiled in the present report highlighting their key financials and business 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.