Transcatheter Market Research Report – Forecast to 2030

Transcatheter Market Research Report: By Type of Treatment (Transfemoral Approach, Transapical Approach, and Others), by Product Type (TAVR and TMVR), by End-User (Hospitals, Ambulatory Surgical Centers, Others), and by Region-Forecast Till 2030

ID: MRFR/MED/4757-CR | July 2018 | Region: Global | 100 Pages         

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Transcatheter Market Overview:
The transcatheter market is projected to reach USD 8.900 Million by 2030 at 19.20% CAGR during the forecast period 2022-2030.

Due to following a hectic lifestyle, the occurrence and recurrence of cardiovascular ailments have amplified throughout the whole world. Additionally, the commonality of hypertension, which is considered to be the prime cause of congestive heart failure and cardiac arrest, has been increasing as well.   

Thus, to treat these potentially life-threatening health conditions, the demand for minimally-invasive treatment options is growing as well. According to the experts, this massive demand for the same will prompt the colossal growth of the global Transcatheter Market during the projected forecast period.

COVID-19 Analysis of Transcatheter Market:
The unforeseen emergence of the COVID-19 pandemic has imposed negatively on the Transcatheter market, especially during the initial stage of the lockdown. Thus, the substantial growth of the same was thwarted for a specific period. Additionally, the resurgence of the endemic had also affected the availability of cardiac surgeons to some extent in the wake of pandemic-based restrictions. It, sequentially, affected the market growth as well. Nevertheless, during the latter half of 2020, the market for medical equipment began intensifying again owing to the distinctive symptoms of COVID-19. Due to the lack of awareness, many COVID-19 patients did not get treated within the initial stage.

It, successively, prompted the disease to infiltrate through the heart and cause cardiovascular complications. As a result, the reliance on the Transcatheter increased even more. Apparently, the sudden growth of dependence instinctively resulted in a rapid expansion of the Transcatheter Market as well. Furthermore, there is also a slight change that has been evident in the health equipment market. The manufacturers of the same are pouncing on the same and creating strategic moves to assimilate a remedial step in their offerings. According to experts, it might drive the growth of the market even further in the near future as well.

Transcatheter Market Dynamics:
Major Drivers of the Transcatheter Market
The prominence in the prevalence of mitral valve disorder and other major cardiovascular diseases has been amplifying since the last decade. As per the lifestyle experts, the commonness of the same will increase even more during the upcoming years due to lifestyle-related problems. The Transcatheter module, in essence, is primarily used for treating heart-related conditions. Hence, the ever-rising number of cardiovascular can be considered as the major driving factor in the uprising of the Transcatheter aortic valve replacement market size.

  • Opportunities

Previously, the growth of the transcatheter market size for Transcatheter aortic valve was more prominent in western countries. However, due to its overall efficiency regarding aortic valve treatment, more and more countries throughout the world are attempting to implement it. It, sequentially, can give a substantial boost to the market growth and prompt it to expand in a desirable manner. Furthermore, integrating various changes (such as equipment or medication) in the same can improve the effectiveness of the medical approach and increase its demand among patients.

  • Restraints

The Transcatheter aortic valve replacement is, in essence, a minimally-invasive medical procedure, which is used to replace the aortic valve of the patient. It is done so without the removal of the damaged or older valve. The whole modus operandi of the medical procedure is already quite well-developed and –designed. However, there are still some issues regarding the same available, which can restrain the growth of the Transcatheter aortic valve implantation market. Amongst them, the difficulty of the procedure is considered to be quite prevalent. The medical process, in essence, is quite intricate and, therefore, is prone to failure. Thus, many patients tend to choose the safer options in this aspect. Furthermore, there is no surety that the procedure can be effective for the individual for over ten years. It is yet another aspect, which might prevent an individual to avoid it.

  • Challenges

The occurrence of the calamitous COVID-19 pandemic had imposed an abrupt halt in the growth of the Transcatheter Market. So, it can continue to be a threat of the same during the later years as well. Furthermore, the overall cost of the procedure is quite high as well. It can also prompt the patients, who belong to the middle-class segment, to avoid the same. This specific challenge can pose to affect the transcatheter market for a prolonged period.

  • Cumulative Growth Analysis

The approximate growth percentage of the Transcatheter aortic valve implantation market has been recorded at 14.4%. The expansion of the same will excel even more during the latter years and reach the market of $4.67 billion by the year of 2027. The values provided here are based on the current and rising demand for the procedure. It might increase or decrease depending on the strata of the market in the near future. However, the end result will not be much different from the provided expectation at all.

Value Chain Analysis of Transcatheter Market:
Having thorough know-how about the value chain of the Transcatheter heart valve market is imperative to perceive its growth potential. The uprising in the worth of the aforementioned market primarily depends on the usage of technology during the procedure. In the upcoming years, the development and prominence of the same will improve exponentially. Thus, the value of the transcatheter market is also anticipated to increase massively alongside the same.

Transcatheter Market Segment Overview:
The global Transcatheter Market can be segmented by the type of treatment procedure and the end-user.

  • By Type

By the type of treatment, the Transcatheter heart valve market is segmented into the transapical approach, transaortic approach, and transfemoral approach. Amongst these, the transfemoral approach is anticipated to lead the market during the forecast period due to the sudden increase in the prominence of valvular diseases.

The vulnerability to cardiovascular ailments among the geriatric population can prompt its growth as well. Conversely, the transaortic segment will predictably depict a stern CAGR rating owing to the frequent usage of the aorta cannulation procedure during ongoing cardiac surgeries.

  • By End-User

The end-users in the Transcatheter heart valve replacement market include – the ambulatory surgical center, cardiac catheterization laboratory, and hospital. Amidst them, the hospitals are considered to be the largest end-user of the Transcatheter procedure.

Thus, it will bring in the highest amount of revenue as well. The reasons for such a massive growth can be credited to the patient volume, the profusion of equipment and skilled surgeon, and various insurance schemes covering up the medical procedures.

Transcatheter Market Regional Analysis:
North America to Grow Exponentially During the Forecast Period:
The regional segment for the global Transcatheter Market can be categorized into – North America, South America, Asia, Europe, and Middle East & Africa. Amongst them, North America currently holds the largest share of the market owing to the contributions of Canada and the USA. The utter prevalence of the well-established medical sector along with the prevalence of cardiovascular disease will prompt growth in this region. Aside from NA, Europe will experience the same amount of growth due to similar reasons like the USA.

Transcatheter Market Competitive Landscape:
The Meril Life Sciences PVT. LTD is considered to be one of the key players in the competitive landscape of the Transcatheter market. The organization is primarily known for its innovativeness while creating the necessary equipment regarding the procedure.

The Boston Scientific Corporation is one of the major manufacturers of the implanted devices and coronary stents. They tend to operate through a more direct marketing procedure and create simplified devices to hold the leading position firmly.

The list of key companies covered in the report is -

  • Edwards Lifesciences Corporation

  • JenaValve Technology, Inc

  • Terumo Corporation

  • Neovasc Inc.

  • Edwards Lifesciences Corporation

Transcatheter Market Recent Developments:

  • The MitraClip has become the first and the only FDA-cleared device in the current scenario.

  • The Transcatheter Mitral Valves are working towards a proper market clearance.

  • In 2018, Abbott initiated a clinical summit on the Treatment of Symptomatic Mitral Regurgitation.

  • In 2017, Medtronic renounced the implantation of the Intrepid TMVR System on the first patient in the world.

Transcatheter Market Report Overview

The report overview of the same is as follows –

  • Overview of the market

  • COVID 19 analysis

  • Dynamics of the market

  • Value chain analysis

  • Market segmentation

  • Regional analysis

  • Competitive analysis

  • Recent Developments of the key players

The scope of the report is to provide clarity on the subject of the Transcatheter market’s potential growth and highlights its overall strengths. Moreover, it also aims to provide a subtle amount of information on the key players of the transcatheter market .

Transcatheter Market Segmentation Table”

By Type

  • Transapical approach

  • Transaortic approach

  • transfemoral approach

By End-User

  • Ambulatory surgical center

  • Cardiac catheterization laboratory

  • Hospital

By Region

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 8.900 Million
  CAGR   19.20%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type Of Treatment Procedure and The End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Edwards Lifesciences Corporation, JenaValve Technology, Inc, Terumo Corporation, Neovasc Inc., Edwards Lifesciences Corporation
  Key Market Opportunities   Efficiency Regarding Aortic Valve Treatment
  Key Market Drivers   the massive prevalence of chronic cardiovascular disease, minimally invasive medical procedures, and the ever-growing preference for the Transcatheter process.

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Frequently Asked Questions (FAQ) :

The North American region will grow the most during this period. However, a similar form of growth can be seen for the European continent as well.

Transcatheter market would reach up to a valuation of USD 8.900 Million.

Transcatheter market would attain a CAGR of 19.20% during the forecast period of 2022-2030.

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 prime driving factors of the market are – the massive prevalence of chronic cardiovascular disease, minimally invasive medical procedures, and the ever-growing preference for the Transcatheter process.

 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.