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 size 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.
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.
Segmental Analysis
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).
Detailed Regional Analysis
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.
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.
https://www.marketresearchfuture.com/reports/transcatheter-market-6218