Transcatheter Market Segmentation and Analysis by Recent Trends, Development

Posted by Vinit on January 11th, 2021

The introduction of advanced catheterization devices in different therapeutic areas has completely altered the market’s development. The development of catheters for specialty cardiac procedures has led to a huge demand for transcatheter. The production of transcatheter is constantly developing due to the escalating incidences of cardiovascular diseases, rising adoption of minimally invasive procedures to treat these diseases, and budding demand for transcatheter aortic valve replacement for treating transfemoral cases.

The market is projected to be worth USD 8,191.26 Million in terms of revenue while expanding at a CAGR of 13.38 percent in the forecast period from 2018 to 2023. The developing inclination towards minimally invasive procedures, a rising number of patients suffering from cardiac problems, and a growing geriatric population are motivating the market’s growth majorly.

Transcatheter is a negligibly invasive procedure which is used to change the valve in patients with cardiac stenosis without eliminating the old or damaged valve. It is one of the treatment procedures frequently used to replace the damaged heart valve. Transcatheters have drastically altered the outlook of treatment with minimally invasive procedures in nearly all therapeutic areas. 

By product type, the market consists of transcatheter mitral valve repair (TMVR) and transcatheter aortic valve replacement (TAVR). The Transcatheter Aortic Valve Replacement (TAVR) segment has the principal share of the transcatheter market due to the high acceptance of TAVR over TMVR as it comprises of repairing the valve without the extraction of the old damaged valve. The end user-based segmentation of the market consist of ambulatory surgical centers (ASCs), hospitals, and cardiac catheterization laboratory. 

The Asia Pacific region is the fastest growing region in the transcatheter market. Varying environmental and cultural & personal factors are contributing to the rise of cardiovascular diseases throughout the globe. Emerging regions, such as the Asia Pacific, are experiencing exceptionally high demand for transcatheter. Moreover, densely populated countries such as India and China, with the increasing geriatric population there is an increase in the surgical procedure volumes. 

Competitive Analysis

Edwards Lifesciences Corporation, Medtronic, plc, Boston Scientific Corporation, Abbott Laboratories Inc., JenaValve Technology, Inc., Braile Biomedica, Meril Life Sciences Pvt. Ltd., Bracco S.p.A. (HLT, Inc.), JC Medical, Inc., NVT AG, Venus Medtech, Inc., Cook Medical Inc. and others are some of the key companies operating in the market.