According to the report, global demand for Transcathetar Devices Market was valued at approximately USD 6738.33 Million in 2018, and is expected to generate revenue of around USD 15071.95 Million by end of 2025, growing at a CAGR of around 12.19 % between 2018 and 2025.
Transcathetar Devices Market
The report covers forecast and analysis for the Transcathetar Devices market on a global and regional level. The study provides historic data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the Transcathetar Devices market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Transcathetar Devices market on a global level. In order to give the users of this report a comprehensive view on the Transcathetar Devices market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein product, application, and regional segments are benchmarked based on their market size, growth rate and general attractiveness.
According to the report, global demand for meningococcal vaccines Market was valued at approximately USD 6738.33 Billion in 2018, and is expected to generate revenue of around USD 15071.95 Billion by end of 2025, growing at a CAGR of around 12.19 % between 2018 and 2025.
Transcathetar devices include treatment such as TAVR, TAVI, TMVR, and TMVI. Approaches to the Transcathetar technique include transfemoral, transapical and transaortic procedures. This report is an analytical business tool with the primary purpose of providing a comprehensive global market evaluation for heart valve disease transcatheter treatment.
The study provides a decisive view on the Transcathetar Devices market by segmenting the market based on product, application and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on product, the market is segmented into Transcathetar Embolization and Occlusion Devices, Transcathetar replacement devices and Transcathetar replacement devices.
It is projected that the Transcathetar replacement Devices segment will dominate the largest share of the Transcathetar Devices market in 2018. The Transcatheter Aortic Valve Replacement (TAVR) devices led by Transcatheter Mitral Valve Replacement represent the highest revenue share of replacement devices due to increasing mergers & acquisitions, partnerships, and R&D funding to provide effective treatment and minimize complications. Most of these devices are expected to improve the treatment of patients suffering from regurgitation of the mitral valve and global symptomatic aortic valve stenosis. This product launch would help strengthen the company's product portfolio for transcatheter products, enabling the Abbott to account for the majority share of the global market over the next few years.
Based on the application segment, the market is bifurcated into Cardiovascular, Oncology, Neurology, Urology and Others. With a dominant revenue share, cardiovascular is the largest application category in 2018. It is projected that increased patient pool of fatal cardiac disorders such as mitral regurgitation, aortic stenosis, and tricuspid regurgitation across the globe would fuel segment development. Another aspect driving the use of transcatheter devices in cardiovascular space is progress in cardiac complications along with substantial mortality decreases with the use of the new fourth-generation TAVR systems.
The geographical segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of revenue on the market for transcatheter products in 2018. Increasing geriatric population, increased prevalence of valvular diseases in the geriatric community, increased spending on health care, and increased demand for minimally invasive surgery are some of the major drivers of market growth. The number of transcatheter valve replacement procedures in this population is increasing due to the growing geriatric population at high risk of open surgery. In addition, growing preference for transcatheter replacement or repair procedures over open cardiac surgery, combined with favorable government initiatives and reimbursement policies, are some of the key factors responsible for the dominant revenue share.
Favorable insurance policies and compensation scenario are one of the key factors expected to drive the sector in the years to come. Some of the factors that contribute to increased coverage are the increasing number of approvals and the increasing number of sponsors for TAVR and TMVR procedures in this region. For example, the Centers for Medicare & Medicaid Services (CMS) confirmed it had approved TAVR coverage under the Medicare National Coverage Determination Strategy. Various efforts are underway to raise awareness of TAVR and TMVR procedures. The STS / ACC TVT Registry is a joint project of the Society of Thoracic Surgeons (STS) and American College of Cardiology to track real-world outcomes and patient safety related to repair and replacement surgery of transcatheter valves. CMS supports this list which offers information into patient outcomes and recommendations for procedures for replacement and repair.
Key players within global Transcathetar Devices market include CryoLife, Inc., Edwards Lifesciences Corporation, Abbott, Boston Scientific Corporation, JenaValve Technology, Inc., Terumo Corporation, Neovasc Inc., and Meril Lifesciences Pvt. Ltd. amongst others.
The report segments global Transcathetar Devices market as follows:
Global Transcathetar Devices Market: Product Segment Analysis
Global Transcathetar Devices Market: Application Segment Analysis
Global Transcathetar Devices Market: Regional Segment Analysis