Transcatheter Market Upcoming Demand & Growth Analysis Up to 2023

Heart failure is the major cause of mortalities among patients. But progress in implants and drug therapies have managed to improve the prognosis of these patients. Transcatheter therapy employs various techniques to ensure the pumping of blood to the heart without any disturbance in its flow. Market Research Future (MRFR) has outlined the various types of transcatheters, their prospects in interventional cardiology, and various drivers and challenges for the period between 2017 to 2023 (forecast period).

Market Outlook

The global transcatheter market size is expected to balloon to USD 8,190 million by 2023. It had a standing valuation of USD 3,882.77 million in 2017. Preference of minimally invasive surgeries is one of the major drivers of the market. This can be due to low hospital stay time and less pain felt during surgical procedures as compared to conventional methods. The market is touted to exhibit 13.38% CAGR during the forecast period.

Large number of cardiac disorders is likely to influence the market growth tremendously. Transcatheters are used in the treatment of aortic valve stenosis, which is one of the common cardiovascular disorders which warrant surgical intervention. Efforts made by instrument and device makers in minimizing infection and risks can amplify the innovation rate and production capacity and drive the volume of the global transcatheter market.

Stringent regulations in place to restrict the approval of transcatheter devices in order to prevent surgical injuries to the patient may hamper market growth.

Segmentation Analysis

The global transcatheter market is segmented by type of treatment, product type, and end user.

By product type, it is bifurcated into transcatheter mitral valve repair (TMVR) and transcatheter aortic valve replacement (TAVR). TAVR has the largest market share due to continuous advances in the product. The procedure involves repair of the valve without the removal of the old valve.

End-users in the global transcatheter market include cardiac catheterization laboratory, ambulatory surgical centers (ASCs), and hospitals. Hospitals are the biggest end-user of the market with predictions to bring in maximum revenue. This can be credited to the large patient volume, abundance of skilled surgeons and equipment, and insurance schemes covering cardiac procedures.

Competitive Outlook

Meril Life Sciences Pvt. Ltd., Bracco S.p.A. (HLT, Inc.), Abbott Laboratories Inc., JenaValve Technology, Inc., Boston Scientific Corporation, NVT AG, Medtronic, plc, Venus Medtech, Inc., JC Medical, Inc., Cook Medical Inc., Edwards Lifesciences Corporation, and Braile Biomedica are prominent players operating in the global transcatheter marketspace.

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