The Transcatheter Aortic Valve Replacement (TAVR) is a relatively new technology in medical science which is a less invasive method of replacing the heart valve without undergoing the conventional by-pass surgery. Traditionally, the aortic valve replacement has required open heart surgery, thus disqualifying patients who are at high risk for the process or are too weak to undergo a surgery. Partially for this reason, the market of heart valve surgical procedure is witnessing a continuous decline as more and more patients requiring valve replacement are at high risk for a surgical treatment. This shortcoming of traditional surgery has paved the way for growth of TAVR. It was first commercially launched in Europe in 2007 and later in the United States. The market is very promising and has lot of opportunities and unmet demand to cater to.
Economic growth worldwide, rising income and wealth levels, increasing ageing population and continuously increasing obese population are fueling the development of the global TAVR market. The growth of the TAVR market has high correlation with macro indicators, such as global GDP, and global healthcare expenditure.
This report analyzes the development of the "global TAVR market", with focus on some of the major markets like the United States and Europe. The major trends, drivers facilitating growth of the TAVR market as well as the issues being faced by the industry are being presented in this report. The major players in the TAVR industry including Edward Lifesciences, Medtronic and St. Jude Medical have been profiled in the report highlighting their key financials and strategies for growth.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables affecting this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.