The market for Transcatheter Aortic Valve Replacement will grow at a healthy CAGR of 13.1%, from a value of $4.4 billion in 2021 to $13.35 billion by 2030.
TAVR, or Transcatheter Aortic Valve Replacement, is defined as a MI heart surgery procedure that can replace a thick aortic valve that cannot open fully. It’s located between the lower left heart chamber & aorta. If the valve fails to open adequately, then the flow of blood from the heart to the body is lowered.
Chest pain, shortness of breath, fainting, and weariness are some of the indications and symptoms of aortic stenosis that can be lessened with TAVR.
- An increase in neurological disorders-related illnesses, including brain/cerebral aneurysms, strokes, & epilepsy, among others, is anticipated to fuel market expansion and is thus a key market driver. According to the NHS/National Health Service in England, 1 in 12,500 individuals in England experience a brain aneurysm rupture each year, and 3% of adults in the U.K. are estimated to have cerebral aneurysms. This rise in the number of hypertension, alcohol use, and smoking is thought to be the cause of brain aneurysms.
- One of the major market drivers for neurovascular devices is the rise in the elderly population who suffer from ischemic strokes and other neurological illnesses. The majority of strokes, or 87%, are ischemic strokes, in which the blood-flow to t brain is cut off, and brain cells perish, leading to a loss of nerve function, notably in the elderly and with the States being the most severely afflicted nation.
- The use of neurovascular devices in smaller institutions is constrained by the high cost of managing neurovascular illnesses, maintenance expenses, and other indirect costs. Only a small number of individuals can pay for the care of neurological disorders because there is little room for reimbursement.
As per JAMA N/w Open Journal, all Robotic-assisted surgeries accounted for a total share of 15.1% in the year 2018. Nearly 310 million of the most common major procedures are carried out each year worldwide, with 40 to 50 million taking place in the United States and 20 million in Europe, according to the NCBI. Therefore, the demand for minimally invasive surgical procedures and post-surgical techniques such as shorter hospital stays, affordability, and quicker patient recovery has increased, which has increased acceptance. This acceptance is crucial for the future growth of neurovascular devices among medical professionals and patients.
Thanks to new technology, there will be a wider range of neurovascular tools accessible to treat different aneurysm types with increased safety and efficacy. Aneurysm management is constantly improving, with cutting-edge technology at the forefront of innovation. According to the Southwestern Medical Center, 795,000 Americans have such a stroke annually. As newly developed procedures become more successful, the fatality rate from strokes will decline.
- Stenting systems
- Neurovascular Thrombectomy
- Neurovascular Guidewires
Neurovascular Thrombectomy devices
- Cerebral Aneurysm
- Carotid Artery Stenosis
- Ischemic Strokes
- Arteriovenous Malformations and Fistulas
- Speciality care centres
- Research laboratories
- Ambulatory centres
- Academic institutions
- Rest of N.A.
- Suomi (Finland)
- Rest of Europe
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of L.A.M.E.A.
With a market share of 38 %, the Embolization category led the market overall based on Type, with a focus on cutting-edge and reasonably priced systems. It is credited to embolic-neurovascular coils, which are effective and have a clinical track record of outperforming surgical clipping techniques. According to the CDC, more than 795,000 individuals throughout the United States experience a stroke per year, & 1 in 6 people will experience one at some point in their lifetime. The market is expediting as a result of rising healthcare costs, an increase in the occurrence of neurological diseases such as brain aneurysms, stroke, and AVMs, and rising R&D spending.
Due to the advent of novel equipment for the treatment of the ailment, which helps drive the need for neurovascular devices, the Cerebral Aneurysm sector dominated the total market for neurovascular devices, with a consistent CAGR during the anticipated period. According to a survey by the Brain Aneurysm Foundation, there are 6.5 million unruptured brain aneurysms in the U.S. Every 18 minutes, a brain aneurysm ruptures, injuring close to 30,000 individuals annually.
Due to the greater increasing adoption of neurovascular devices throughout most hospitals as a result of the rise in patients diagnosed with neurological diseases, the hospital sector dominated the total market share throughout the anticipated period based on end users.
According to the region, North America will hold the largest market share in 2020, at around 26.8%, thanks to a few significant producers and an uptick in neurological disorders. Brain Aneurysm Foundation estimates that 6 million Americans suffer from cerebral aneurysms. They are responsible for almost 500,000 deaths globally, with victims in that age group making up half of the total each year. Asia is anticipated to increase at a CAGR of 7.9 percent throughout this time. According to the NCBI-published journal, the overall annual incidence of the spectral range of neurological diseases from different parts of the country ranged from 967 to 4,070, with a mean of 2,394 per 100,000 people. This gives a rough estimate of more than 30 million people who have neurological disorders. This is a result of the increased prevalence of the target disease, rising healthcare costs, and the entry of important players who are fostering market expansion.
- Medtronic plc
- Johnson & Johnson
- Penumbra. Inc
- Terumo Corporation
- Micro Port Scientific Corporation
- Merit Medical Systems.