Transcatheter is a minimally invasive procedure, used to change the valve in patients with cardiac stenosis without eliminating a damaged or old valve. It is frequently used to replace the damaged heart valve. It has drastically altered an outlook of treatment with minimally invasive procedures in approximately all therapeutic areas. Some of the side-effects are included bleeding, problems with the replacement valve, for instance the valve slipping out of place or leaking, blood vessel complications, heart rhythm abnormalities (arrhythmias), stroke, heart attack, kidney disease and infection etc.
According to study, “Global 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 2023” the key companies operating in the global transcatheter market are Edward Lifesciences Corporation, Braile Biomedica, Meril Life Sciences Pvt. Ltd, Venus Medtech Inc., JenaValve Technology, Inc., Direct Flow Medical Inc., Boston Scientific Corporation, Symetis SA, Abbott Laboratories Inc., Bracco Diagnostic Inc. (HLT, Inc.), Medtronic Plc., NVT AG, St. Jude Medical Inc., JC Medical Inc., Cook Medical Inc.
Based on valve type, transcatheter market is segmented into Transcatheter Pulmonary Valve Replacement (TPVR) and Transcatheter Aortic Valve Replacement (TAVR). TAVR segment dominate the market owing to high acceptance of TAVR over TMVR as it contains of repairing the valve without an extraction of the old damaged valve. Based on type of treatment, market is segmented into transapical approach, transfemoral approach and others (transaortic approach). The transfemoral approach holds major share due to rise in prevalence of valvular heart diseases in older adult population, and growth in advancements in transcatheter heart valves. The transaortic approach segment is anticipated to grow at the highest CAGR during the forecast period as a result of rise in aorta cannulation which is routine in cardiac surgeries. In addition, based on end-user, market is segmented into ambulatory surgical centers, hospitals, cardiac catheterization laboratory and others. Hospitals are the leading users of transcatheters as a result of the high number of patients admitted for different treatment procedures.
The transcatheter market is driven by rise in incidence of valvular heart diseases, followed by favourable reimbursement scenario, increase in per capita income, growth in adoption of minimally invasive procedures, rise in healthcare expenditures, rise in prevalence of cardiovascular diseases, and increase in number of TAVR procedure. However, rise in associated risks with TAVR and varied stringency of regulatory procedures delays product launches may impact the market. Moreover, expansion of TAVR to low & intermediate risk patients and rise in focus on transcatheter mitral valve replacement are key opportunities for market.
Based on geography, the Asian-Pacific region holds major share, followed by European region in transcatheter market owing to rise in geriatric population, increase in surgical procedure volumes and growth in number of endovascular procedures in the region. The North-American region is expected to witness higher growth rate due to launch of technologically advanced & innovative products over the forecast period. It is estimated that future of the market will be bright on account of introduction of innovative products for instance transcatheter mitral valve repair devices, chronic total occlusion devices, and aortic stents during the forecast period. It is projected that the market will be reached at US $8,191.26 million, at a CAGR of 13.38%, by 2023.
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Ankur Gupta, Head Marketing & Communications