Pune, India, July, 2022 /press release/- Market Research Future Published a Cooked Research Report on Global Transcatheter Market Research Report.
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. The focus towards cardiovascular diseases has grown recently owing to rising number of deaths caused by the condition. Due to this factor, a large number of firms in the market are introducing better devices and accessories for the treatment of cardiovascular diseases. Thus, the mounting prevalence of cardiovascular diseases is estimated to support the progress of the market in the forecast period.
The transcatheter market is projected to reach USD 8.900 Million by 2030 at 19.20% CAGR during the forecast period 2022-2030. 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. The escalating healthcare expenditures and increasing per capita income have driven the growth of the market. Moreover, the intensifying demand for improved and progressive treatments has inspired the leading manufacturers to develop effective treatment alternatives. The predisposition for minimally invasive procedures has improved the market’s growth considerably and is projected to effect the market’s development in the forecast period positively.
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 transcatheters. 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 emerging opportunities for the transcatheter market globally in the forecast period can be identified in the rising prevalence of cardiovascular diseases in emerging regions such as the Asia Pacific and many Middle Eastern and African nations.
The segmentation of the transcatheter market is done on the basis of treatment, product type, and end user. The segmentation on the type of treatment comprises of transapical approach, transfemoral approach, and transaortic approach. The transfemoral approach is anticipated to control a vast market share by 2023 owing to the growing prevalence of valvular heart diseases in the older adult population, and advancements in transcatheter heart valves. The transaortic approach segment is expected to grow at the highest CAGR during the forecast period due to ascending aorta cannulation which is routine in cardiac surgeries. 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 hospitals segment is responsible for the prime market share in 2017. Hospitals are the leading users of transcatheters because of the high number of patients admitted for different treatment procedures.
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According to the regional analysis of the market, the Americas region controls the transcatheter market globally due to the launch of technologically advanced and innovative products in the market. The nations of the U.S. and Canada are the principal countries in the North American transcatheter market. The European region is the following top region in the transcatheter market. Patients detected with endovascular diseases, growing number of endovascular procedures and the introduction of innovative products such as chronic total occlusion devices, transcatheter mitral valve repair devices, and aortic stents are anticipated to boost the demand for transcatheters in the European region. 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.
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.
The global transcatheter market is a promptly growing market and involves the manufacturing of various types of transcatheter for different cardiovascular procedures. Hence, the market is not completely dominated by any one or two players but is fairly divided among the top transcatheter’ manufacturing companies. Many leading players are focusing on the American and European markets owing to well-established markets, huge patient population, and high healthcare expenditures. These players have expanded their market in other regions as well. Major companies have a huge brand identity and product portfolio. These companies have adopted the organic strategy of product launches and acquisitions to gain the market.