Global Transcatheter Heart Valve Market is anticipated to grow significantly in the forecast period owing to the prevalence of heart disorders among the geriatric population. Transcatheter heart valve implies minimally invasive surgery that repairs the valve without damaging the old one. It helps people live long which reduces the death rate. Mortality rate is comparatively higher in the elderly population, hence with the help of transcatheter heart valve, patient will not fall short of breath or suffer chest pain.
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Transcatheter heart valve market is driven by several factors like rising prevalence of mitral regurgitation, increasing demand for minimally invasive surgeries, technological modernizations, improvements in surgeries, availability of reimbursement for surgeries, and rising inclination of surgeons toward TAVR. Transcatheter heart valve industry is also influenced by enhanced technology for effective and swift heart-related treatments. However, the factors restraining the market growth of transcatheter heart valve risks associated with the surgery, significant cost of transcatheter heart valves and strict regulations for the acceptance of transcatheter aortic valves.
New product launches along with growing research & development activities are the trends observed in transcatheter heart valves market. Moreover, existing vendors are emphasizing on the speedy approvals of novel transcatheter heart valves which will help the players sustain their market position.
Transcatheter heart valve market is categorized on the basis of product type, surgical approach, end user, and geography. On the basis of product type, the market is divided into transcatheter mitral valve repair (TMVR) and transcatheter aortic valve replacement (TAVR). Transcatheter aortic valve replacement segment leads transcatheter heart valve industry since it is less invasive surgery and does not need open heart procedure.
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