The global Transcatheter Aortic Valve Replacement (TAVR) market is projected to grow by USD 2.40 billion, with a CAGR of 6.78% between 2023 and 2028. This growth is attributed to the expanding aging population and the increasing prevalence of heart diseases that require valve replacement. Additionally, TAVR procedures are becoming more widely adopted for patients who are not suitable candidates for traditional surgery. However, the high costs associated with these procedures remain a key challenge for patient access.
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The TAVR market is segmented by end-user, type, and geography:
The hospital segment is expected to witness significant growth, primarily due to the advanced facilities available for interventional cardiology procedures. Hospitals are equipped with specialized technologies such as echocardiography, fluoroscopy, and cardiac catheterization that ensure precise TAVR procedures. The advanced infrastructure in hospitals, including imaging systems like CT and MRI, is crucial for the safety and effectiveness of TAVR treatments.
The North American market is forecast to contribute 39% to the global TAVR market growth from 2024 to 2028. The increasing prevalence of heart valve diseases and the rapidly aging population in the US and Canada are driving this growth. Technological advancements, including the rising use of suture-less valves and minimally invasive procedures, further boost market demand. The US remains the dominant player in the global TAVR market, benefiting from advanced healthcare infrastructure and a significant aging population.
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Companies are focusing on various strategies, including partnerships, mergers, acquisitions, and geographical expansions, to strengthen their position in the TAVR market. Key players in the market include:
The TAVR market is expected to continue growing as technological advancements reduce costs and expand the availability of these life-saving procedures to a broader patient population.
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