Global Transcatheter Devices Market by Product (Repair Devices, Transcatheter Embolization & Occlusion, Replacement) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global transcatheter device market was valued at USD 7.763.3 million in 2018. It is expected to grow at 12.1% CAGR over the forecast period. Market growth is driven by the increasing demand for Minimally Invasive Procedures/Surgeries. These procedures are less traumatic for patients and allow for faster recovery than more invasive procedures like open-heart surgery. MIS requires fewer hospital stays and can therefore provide better outcomes for patients and greater economic viability, both from a micro- and macro perspective. These surgeries are also less prone to complications after surgery and have lower mortality rates. This is why they are more popular with patients as well as healthcare professionals. In many fields, such procedures are being used more frequently, including gynecology and urology as well as neurosurgery and gastrointestinal surgery.

Transcatheter Aortic Valve Replacement is a minimally invasive procedure for replacing damaged or diseased valves. According to NCBI, some market leaders believe that TAVR can replace AVR and become the new standard in the treatment of aortic stenosis. TAVR is less invasive than traditional AVR, and the mortality rate for high-risk symptomatic patients is significantly lower. These minimally invasive surgeries are becoming more popular worldwide, and the number of TAVR procedures is expected to rise in the future.

The market will be driven by favorable insurance policies and a favorable reimbursement situation in the coming years. There are many factors that are contributing to better coverage, such as the increasing number of approvals and increased number of sponsors for TAVR/TMVR procedures in this marketplace. The Centers for Medicare & Medicaid Services (CMS), for example, announced that it had covered TAVR under its Medicare National Coverage Determination policy.

Various initiatives have been taken to raise awareness about TAVR/TMVR procedures. The STS/ACC TVT Registry, a joint initiative of the Society of Thoracic Surgeons and American College of Cardiology, monitors real-world outcomes and patient safety in transcatheter valve replacement and repair. The CMS approved this registry and it provides information about patient outcomes and guidelines for repair and replacement procedures.

Edwards Lifesciences Foundation sponsors the Valvular Disease Education Centre and Ambassador Program, American Heart Association. The Heart Valve CareLine, a free hotline for patients, provides professional assistance. It provides information on insurance and reimbursement. Edwards Lifesciences Foundation funded this initiative.

Product Insights

Transcatheter replacement devices were the most promising segment in 2018, largely due to the high number of products on the market. Transcatheter mitral and transcatheter aortic replacement (TAVR), devices account for the largest revenue share of all replacement devices. This is due to increased mergers & acquisitions and collaborations and increasing funding for research & development in order to provide effective treatment and minimize complications. In 2019, Abbott was approved by the FDA for its fourth-generation MitraClip device, MitraClip G4. This allows doctors in the U.S. to have access to a wide range of clip sizes and allows them to assess their procedure in real-time, which makes it easier for them in treating mitral valve disease.

These devices will be used to treat mitral valve regurgitation and symptomatic ortic valve stenosis worldwide. The company will be able to expand its transcatheter device product lines, allowing it to capture the majority of the global market in the coming years.

The segment of transcatheter repair devices is expected to grow at 18.7% annually over the forecast period. Abbott and Edwards Lifesciences are the major players in the transcatheter mitral and tricuspid market. Edwards Lifesciences' Cardioband system was approved by the CE in 2015. The product was also CE approved in 2018 for tricuspid repair. Abbott also approved MitraClip, a transcatheter mitral-valve repair device. These two companies are currently dominating the market for repair devices.

Application Insights

With a 56.9% revenue share, cardiovascular was the largest segment in 2018. The segment's growth is expected to be driven by an increase in the number of patients with fatal cardiac conditions, including mitral regurgitation and aortic narrowing. Another factor that drives transcatheter device use in the cardiovascular space is the reduction in mortality and improvement in cardiac complications.

Many trials have shown the importance of transcatheter replacement therapy for inoperable patients suffering from aortic valve disease or other valvular disorders. This has led to an increase in transcatheter adoption across the U.S.A. and EU. The Edwards Sapien 3 clinical trial PARTNER II, which involved over 1000 patients in 50 U.S. locations, demonstrated positive results for several primary parameters, including mortality and stroke. It also showed the ability to treat moderate-to severe valve regurgitation.

The highest expected growth rate for the oncology segment revenue share is in the forecast period. Transcatheter embolization is a popular and effective treatment option for many cancers, including liver, pancreatic and breast cancers. Embolization and occlusion devices are used to treat liver cancer, which is the most common type of cancer.

Regional Insights

North America was the region with the highest transcatheter device market revenue share in 2018. Market growth is driven by a growing geriatric population and rising prevalence of valvular disease in the geriatric population. Additionally, healthcare spending has increased and people are more inclined to opt for minimally invasive surgery. The number of transcatheter replacement procedures is increasing in this age group due to high risks for open surgery. The largest revenue share is due to the growing preference for transcatheter repair or replacement procedures over open heart surgeries, as well as favorable government policies and reimbursement policies.

Due to increasing heart disease prevalence, the U.S. accounted for about 0.6 million deaths each year and accounts for the largest revenue share in North America in 2018. Nearly 40 million Americans were over 65 in 2011, a number that is expected to rise to 89 million by 2050. This subset of the population is more susceptible to valvular disease such as aortic and tricuspid stenosis, mitral regurgitation, and tricuspid stenosis. In the United States, transcatheter device demand is forecast to rise over the next few years.

Asia Pacific will be the most lucrative market, with a CAGR in excess of 13.8% over the forecast period. The market's growth is expected to be boosted by private investment and favorable government policies regarding cardiovascular disease. The high cost of transcatheter repair and replacement devices means that there is not much demand for advanced valve replacement surgery despite the large patient base in this region.

Market Share Insights & Key Companies

CryoLife, Inc., Edwards Lifesciences Corporation, Abbott, Boston Scientific Corporation, JenaValve Technology, Inc., Terumo Corporation, Neovasc Inc., Meril Lifesciences Pvt. Ltd. is one of few players that holds the majority of market share. This is due to their product portfolios, strong global footprint and increased investment in research to develop advanced transcatheter device. The market is also seeing significant revenue growth due to the increased demand for transcatheter devices for mitral valve repair and tricuspid repair from key vendors Edwards Lifesciences, Abbott and others.

Transcatheter Devices Market Report Scope

The report covers segments

This report provides a forecast of revenue growth at the global, regional, and country levels. It also analyzes industry trends in each subsegment from 2014 to 2026. Grand View Research, Inc. analyzed the global transcatheter device market report based on product, region, and application.

• Product Outlook (Revenue USD Million, 2014-2026)

  • Transcatheter Embolization Devices and Occlusion Devices

    • Coils

      • Pushable coils

      • Coils that can be detached

    • Non-coils

      • Flow diverting devices

      • Embolization particles

      • Liquid embolics

      • Other embolization or occlusion devices

      • Accessory

  • Transcatheter replacement devices

    • Transcatheter replacement of the aortic valve

    • Transcatheter replacement of the pulmonary valve

    • Transcatheter mitral valve replacement

  • Transcatheter repair devices

    • Transcatheter mitral valve repair

    • Transcatheter tricuspid valve repair

• App Outlook (Revenue USD Million, 2014-2026)

  • Cardiovascular

  • Oncology

  • Neurology

  • Urology

  • Other

• Regional Outlook (Revenue USD Million, 2014-2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • Russia

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

These are the most frequently asked questions about this report

b. Global market for transcatheter devices was valued at USD 8.8 billion in 2019, and is forecast to grow to USD 9.9 billion by 2020.

b. Global transcatheter device market is expected grow at 12.1% compound annual growth rate from 2019-2026 to reach USD 19.6 Billion by 2026.

b. With a market share of 40.2%, North America was the dominant transcatheter device market in 2019, This can be attributed to the rising incidence of valvular disease in the elderly population, rising healthcare costs, and increasing preference for minimally invasive surgery.

b. CryoLife, Inc., Edwards Lifesciences Corporation, Abbott; Boston Scientific Corporation, JenaValve Technology, Inc., Terumo Corporation, Neovasc Inc., and Meril Lifesciences Pvt. are some of the key players in the transcatheter device market. Ltd.

b. Market growth is being driven by the following key factors: an increase in minimally invasive procedures, a high prevalence of chronic illnesses, and a growing preference for transcatheter repair or replacement procedures over open-heart surgeries.

Up Market Research published a new report titled “Transcatheter Devices Market research report which is segmented by Product (Repair Devices, Transcatheter Embolization & Occlusion, Replacement), By Players/Companies Inc; Terumo Corporation; Neovasc Inc; and Meril Lifesciences Pvt Ltd, Inc; Edwards Lifesciences Corporation; Abbott; Boston Scientific Corporation; JenaValve Technology, CryoLife”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Transcatheter Devices Market Report Segments:

The market is segmented by Product (Repair Devices, Transcatheter Embolization & Occlusion, Replacement).

Transcatheter Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Transcatheter Devices Market

Overview of the regional outlook of the Transcatheter Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Transcatheter Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Transcatheter Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Repair Devices

                2. Transcatheter Embolization & Occlusion

                3. Replacement

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Transcatheter Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Transcatheter Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.