ID: MRFR/MED/4757-CR | July 2018 | Region: Global | 100 pages
The global transcatheter market is expected to grow from USD 3,882.77 Mn in 2017 to more than USD 8,190 Mn by 2023-end. Patient inclination towards minimally invasive procedures is partly boosting the global demand for Transcatheter. The trauma and pain is comparatively lower in surgical procedures that are undertaken using Transcatheter. They are primarily used in cardiac surgeries, the high occurrence of cardiac disorders is a major factor driving the growth of the transcatheter market. Transcatheter are viewed as a groundbreaking surgical instrument as well as bringing a change in the way critical surgeries are performed. At the same time, efforts are being made to minimize risks associated with the use of transcatheter such as infection and injury. Increased popularity of such catheters is also resulting in greater private and government-led investments to boost manufacturing capacity. The aforementioned factors are likely play a crucial role in fueling the demand for transcatheter worldwide.
This MRFR market perspective delivers a comprehensive assessment of transcatheter over the next five years, until 2023. The research document also highlights historical market growth, current trends and expected revenue growth during the review period. It also discusses the key macro and micro-economic factors that are influencing the market trends and progress. The scope of the research also covers market analysis of the different types of treatment procedures that involve Transcatheter such as transfemoral approach, transapical approach, and transaortic approach. Also, a revenue analysis of two major types of transcatheter [transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR)]. Hospitals, ambulatory surgical centers (ASCs), and cardiac catheterization laboratory are identified as the prominent end users of transcatheter. The market sizing for transcatheter has been carry out under five key region – North America, Latin America, the Middle East & Africa (MEA), Europe and Asia Pacific.
Value, Market Share, Player Analysis, value chain analysis, porter’s five forces model, country level break down for type, device type, application, distribution channel and region.
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., and Cook Medical Inc.
Company profiling include annual revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, latest R&D initiatives.
MRFR's employs research methods that are innovative and infallible and provide a comprehensive view of industries and markets. A highly accurate status of the market is delivered by substantiating data, which undergoes several layers of quality check and verification. Our data analysts use primary research inputs in tandem with secondary research approaches. Both qualitative and quantitative assessments of expert inputs from participants across the value chain are conducted to provide a thorough analysis of markets and the variables influencing their progress. Forecasts and sizing of the markets are done using top-down and bottom-up approaches. Key market trends and other relevant parameters are considered for generating a visual mapping of the market.
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for transcatheter
Type of Treatment
Frequently Asked Questions (FAQ) :
Transcatheter market valuation was USD 3882.77 million in 2017.
Transcatheter market would reach up to a valuation of USD 8190 million.
Transcatheter market would attain a CAGR of 13.38% during the forecast period of 2018 to 2023.
The TAVR segment has control of the transcatheter market.
The transcatheter market includes segments like hospitals, ambulatory surgical centers (ASCs), and cardiac catheterization laboratory.
The transcatheter market is expected to grow at an above average CAGR of 13.38% during the forecast period. Incidences of cardiovascular diseases have been growing globally due to changes in diet and the prevalence of a sedentary lifestyle; this among other factors is expected to contribute to market growth over the next five years. Valued at USD 3.88 billion in 2017, the global transcatheter market is poised to reach an approximate evaluation of USD 8.19 billion by the end of 2023.
The increasing prevalence of cardiovascular diseases and the associated morbidity rate has garnered a lot of attention from the healthcare sector. Leading market players are competing fiercely in an effort to introduce effective treatment options in the market. Transcatheters are commonly used to treat aortic valve diseases such as Aortic Valve Stenosis (AS) which is the most frequently occurring valve disease leading to surgical or transcatheter valve replacement in North America and Europe. Many patients with cardiovascular diseases usually have to undergo surgical procedures to treat the problem effectively, and preferences lean toward minimally invasive procedures. The minimally invasive surgical procedure repairs the valve without removing the old, damaged valve. Instead, it wedges a replacement valve at the place of the aortic valve. The surgical procedure is also known as Transcatheter Aortic Valve Replacement (TAVR) or Transcatheter Aortic Valve Implantation (TAVI). The increasing demand for advanced and minimally invasive procedures combined with the growing geriatric populations who display a high susceptibility to cardiovascular diseases is expected to drive demand for transcatheters during the forecast period.
Since some cardiovascular devices, including transcatheters, are in direct contact with the body in the process of treatment, there is an increased risk of infection which has prompted the standardization of the product. A strict regulatory framework is expected to show market growth and restraining growth at a minimal CAGR of -0.6% during the assessment period. Ongoing advancements in the development of novel catheter devices for cardiac problems is expected to lead the market toward opportunities for future growth in the next few years.
The global transcatheter market is segmented on the basis of type of treatment, product type, end-user, and region. By type of treatment, the market is segmented into transfemoral approach, transapical approach, and transaortic approach, and transaortic approach. The transfemoral approach presently holds the leading position in the market due to the increased incidences of valvular heart diseases in the increasing. Geriatric population. Meanwhile, the transaortic segment is expected to achieve the highest CAGR during the forecast period due to the increasingly routine aorta cannulation procedure in cardiac surgeries.
By product type, the market is segmented into transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR). The TAVR segment has the largest share of the total market due to the advancements in the product and the high adoption of TAVR over TMVR. TAVR involves repairing of the valve without removal of the old, damaged valve.
By end-user, the market is segmented into hospitals, ambulatory surgical centers (ASCs), and cardiac catheterization laboratory. The hospital segment accounts for the largest segment. Hospitals are the biggest end-users in the market due to the high number of patients with cardiac problems that go to hospitals for various treatment procedures and health check-ups. Hospitals are often where cardiac problems are diagnosed, and treated.
Led by countries such as the U.S. and Canada, the Americas possess the largest share of the global transcatheter market. The presence of market-leading players who are investing in the technological advancement of the product and the presence of a well-developed healthcare sector with favorable reimbursement policies are key drivers of growth for the region. Europe closely follows Americas’ lead and has a similar growth pattern. The region has a high geriatric population and increasing diagnoses of endovascular diseases where transcatheters are vital in treatment; this is expected to boost demand in the region and reflect market growth for the region in the global market.
The Asia-Pacific is the fastest growing region in the global market due to the gradual transformation of the region, economically and otherwise. The adoption of western trends in the region, growing urbanization, and the change in lifestyle habits have led to an increase in cardiovascular diseases. Densely populated emerging economies in the region such as India and China are driving growth for the market as there is a large population base, a significant share of which is geriatric. The improving infrastructure and development of the healthcare sector are expected to increase demand for advanced products. Growing awareness of healthcare procedures and diseases has led to high demand for advanced medical devices in the region, thus translating to growth for the transcatheter market.
Top players in the global market, on the basis of the market study, have been identified and included in the report. Prominent players leading the market include Edwards Lifesciences Corporation, Boston Scientific Corporation, Medtronic plc, and Abbot Laboratories Inc. Other important players include JenaValve Technology Inc., Meril Life Sciences Pvt. Ltd., and Braile Biomedica among others.
Global Transcatheter Market: Competitive Landscape
Edwards Lifesciences Corporation, Medtronic plc., Boston Scientific Corporation, and Abbott Laboratories Inc. accounted for approximately 52% share of the global transcatheter market in 2017. These companies continue to retain their strong global presence through expansions, mergers and acquisitions, and extensive product portfolio.
Edwards Lifesciences Corporation is an American company known for manufacturing heart valve systems and repair products. The company’s transcatheter heart valve therapy and surgical heart valve therapy products are manufactured in the US, Singapore, and Switzerland. The company’s subsidiaries include Edwards Lifesciences Asset Management Corporation, Edwards Lifesciences CardiAQ LLC., Valtech Cardio Inc., and Red Hill Insurance Corporation.
Medtronic plc accounted for the second largest market share of the global transcatheter market owing to the innovation of less-invasive, miniaturized, and Mechanical Circulatory Support (MCS) technologies for treating patients with advanced heart failure. The company has the ability to create meaningful innovations for hospitals, health systems, and healthcare providers and the ability to deliver the best care possible to patients around the world.
Boston Scientific Corporation is the developer, manufacturer, and marketer of medical devices used in a range of interventional medical specialties. The company held the third position in terms of market share in 2017. It is dedicated to collaborating with healthcare professionals to develop a broad portfolio of meaningful innovations that improve outcomes, reduce costs, increase efficiencies, and most importantly, help people around the world to live longer and healthier. Boston Scientific offers a wide range of products categorized as featured products, medical specialty, and many others.
Medtronic, Inc. manufactures and sells device-based medical therapies. The company manufactures image-guided surgery and intra-operative imaging systems. Its products include electrophysiology catheters implantable neurostimulation therapies, and drug delivery systems for the treatment of chronic pain and other disorders.
Abbott Laboratories Inc. has a significant product portfolio which focuses on discovery, development, manufacturing, and sales of healthcare products. The company operates through four reportable segments, namely, established pharmaceutical products, diagnostic products, nutritional products, and vascular products. Furthermore, the company has two non-reportable segments, namely, diabetes care and medical optics. The diabetes care division of the company is located in California, US and provides blood glucose meters, blood glucose test strips, sensors, data management decision software, and accessories. The company manufactures its blood glucose test strips at Witney, UK site.
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.