Reduction in mortality rate using TAVR embolic protection devices, technological advancements in TAVR embolic protection devices, and rise in adoption of minimally invasive procedures drive the growth of the global TAVR embolic protection market.
PORTLAND, Ore., Nov. 10, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “TAVR Embolic Protection Market by Product (SENTINEL cerebral protection system, TriGUARD 3 CEP device technology): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global TAVR embolic protection market was valued for $108.7 million in 2022 and is estimated to reach $405.4 million by 2032, exhibiting a CAGR of 14% from 2023 to 2032.
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Prime determinants of growth
Growth in R&D activities; rise in prevalence of cardiovascular diseases, including aortic stenosis; and rise in awareness regarding use of TAVR embolic protection devices to minimize the complications are the factors that drive the growth of the global TAVR embolic protection market. However, time consuming approvals hinder the market growth. On the contrary, expansion of the healthcare sector is expected to offer lucrative opportunities for the TAVR embolic protection market during the forecast period.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$108.7 million |
|
Market Size in 2032 |
$405.4 million |
|
CAGR |
14 % |
|
No. of Pages in Report |
140 |
|
Segments covered |
Product type and region |
|
Drivers |
Reduction in mortality rate Technological advancements in TAVR embolic protection devices Rise in adoption of minimally invasive procedures |
|
Opportunities |
Growing focus on R&D |
|
Restraints |
Product failure and recalls Procedural Complexity |
Economic Downturn Analysis: Impact of Recession in 2023 on the TAVR Embolic Protection Market
- During the recession, the demand for medical devices, such as TAVR embolic protection devices, remains stable.
- As there is rise in aging population, prevailing cardiovascular diseases, including aortic stenosis; growth in investments in advanced technologies, and the ongoing clinical trials are anticipated to drive the market growth.
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The SENTINEL Cerebral Protection System segment maintained its lead position during the forecast period.
Based on product type, the SENTINEL cerebral protection system segment accounted for the largest share in 2022, accounting for more than 90% of the global TAVR embolic protection market revenue. The SENTINEL system is one of the pioneering and well-established brands in the TAVR embolic protection market. Its reputation for safety and efficacy has garnered trust among healthcare providers. Moreover, it is the only FDA and CE approved device in the market. However, TriGUARD 3 CEP device technology segment is projected to register highest CAGR of 15.2% during the forecast period owing to its innovative technology, clinical efficacy, expanded indications, and physician preference.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for almost half of the global TAVR embolic protection market revenue, owing to factors such as sedentary lifestyle, unhealthy eating habits, and rise in geriatric population. In addition, surge in demand for minimally invasive procedures such as TAVR and availability of skilled professionals & advanced embolic protection devices technologies have made it possible to perform more complex procedures with higher success rates, leading to increase in demand for TAVR embolic protection devices in North America.
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However, Asia-Pacific is expected to witness the highest CAGR of 15.1% from 2023 to 2032, owing to surge in demand for minimally invasive procedures to address the unmet needs of a large population. In addition, the development of healthcare infrastructure, rise in healthcare reforms, and increase in healthcare expenditure in emerging economies are anticipated to contribute toward the growth of the TAVR embolic protection market in Asia-Pacific.
Leading Market Players: –
- Boston Scientific Corporation
- Edward Lifesciences Corporation
- Filterlex Medical Ltd.
- Protembis Gmbh
- Innovative Cardiovascular Solutions, LLC.
- Encompass Technologies, Inc.
- Transverse Medical Inc.
- Emboline, Inc.
- Cardioptimus
- Venus Medtech Hangzhou Inc.
The report provides a detailed analysis of these key players of the global TAVR embolic protection market. These players have adopted different strategies such as product approval, clinical trials, & funding to increase their market share and maintain dominant position in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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