Transcatheter bioprosthesis is an implantable medical device mostly used for patients suffering from severe symptomatic aortic stenosis of the aortic heart valve. In addition, transcatheter bioprosthesis is considered as an alternative to surgical aortic valve replacement (SAVR) in patients with high surgical risk. Transcatheter bioprosthesis combines exceptional valve design and advanced sealing with an excellent safety profile. Transcatheter bioprosthesis is designed to replace the aortic heart valve without an open-heart surgery. However, the long-term durability of transcatheter bioprosthesis is still unknown. Due to the growing aging population, aortic stenosis is observed as the most frequent primary valve disease in developed countries. In 2013, around 300,000 individuals were suffering from aortic stenosis worldwide and one-third of the affected population were not eligible for open-heart surgery due to the high surgical risk. According to research conducted in 2014, there were around 120,000 transcatheter aortic valve implantations performed around the globe since 2002.
Transcatheter Bioprosthesis Market: Drivers and Restraints
Increasing prevalence of cardiovascular diseases is the major factor expected to drive the growth of the global transcatheter bioprosthesis market. Transcatheter bioprosthesis is rapidly growing in the lower risk population and the midterm durability of transcatheter bioprosthesis is further expected to encourage the growth of the global transcatheter bioprosthesis market. It is observed that aortic valve disease affects more than 60 million individuals worldwide due to growing aging population. However, the snail pace adoption of transcatheter bioprosthesis in middle-income countries is expected to negatively impact the growth of the global transcatheter bioprosthesis market over the forecast period.
Transcatheter Bioprosthesis Market: Overview
The transcatheter bioprosthesis market is expected to grow at a significant CAGR due to promising clinical development of newer technologies and rising demand for minimally invasive therapies. Transcatheter bioprosthesis provides minimally invasive treatment for patients with high-risk of severe native aortic stenosis. Surgical aortic valve replacement is considered as the standard treatment for severe aortic stenosis, whereas transcatheter bioprosthesis offers a new treatment option for patients with high risk for surgery. Based on transcatheter bioprosthesis material source, the transcatheter bioprosthesis market is segmented into the bovine and porcine source. Among them, the porcine material source segment is expected to hold maximum share in the global transcatheter bioprosthesis market. On the basis of the type of valve, the transcatheter bioprosthesis market is segmented into mitral, aortic and pulmonary. The aortic valve is expected to gain maximum market share due to increasing number of aortic stenosis cases. Similarly, based on the end users, the global transcatheter bioprosthesis market is segmented into hospitals, ambulatory surgical centers, and specialty clinics. Among all end users, specialty clinics and ambulatory surgical centers segments are expected to grow at maximum CAGRs.
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Transcatheter Bioprosthesis Market: Regional Outlook
On the basis of geography, the global transcatheter bioprosthesis market is segmented into eight key regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding China and Japan, China, Japan, and Middle East & Africa. North America is expected to hold maximum share in the global transcatheter bioprosthesis market primarily due to advanced healthcare infrastructure and availability of well-trained healthcare professionals. Western Europe is expected to hold second large share in the global transcatheter bioprosthesis market. From 2007 onwards the French National Authority for Health (HAS) has implemented an early assessment of transcatheter bioprosthesis in order to speed up the availability in the French market. Asia Pacific transcatheter bioprosthesis market is expected to grow at a significant rate over the forecast period. Growing healthcare facilities and increased healthcare awareness are mainly generating the demand for transcatheter bioprosthesis in the Asia Pacific region. However, the transcatheter bioprosthesis market in Latin America, Eastern Europe and the Middle East and Africa is projected to show a slow growth over the forecast period.
Transcatheter Bioprosthesis Market: Key Players
Examples of some of the key players in the global transcatheter bioprosthesis market are Medtronic plc, Edwards Lifesciences Corporation, Boston Scientific Corporation, and Direct Flow Medical, Inc., among others. The key players are majorly focusing on product development and geographical expansion to retain their market position.
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