The market 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.
Transcatheter is a negligibly invasive procedure which is used to change the valve in patients with cardiac stenosis without eliminating the old or damaged valve. It is one of the treatment procedures frequently used to replace the damaged heart valve. Transcatheters have drastically altered the outlook of treatment with minimally invasive procedures in nearly all therapeutic areas.
The Transcatheter Aortic Valve Replacement (TAVR) segment has the principal share of the transcatheter market due to the high acceptance of TAVR over TMVR as it comprises of repairing the valve without the extraction of the old damaged valve. The end user-based segmentation of the market consist of ambulatory surgical centers (ASCs), hospitals, and cardiac catheterization laboratory.
The Asia Pacific region is the fastest growing region in the transcatheter market. Varying environmental and cultural & personal factors are contributing to the rise of cardiovascular diseases throughout the globe. Emerging regions, such as the Asia Pacific, are experiencing exceptionally high demand for transcatheter. Moreover, densely populated countries such as India and China, with the increasing geriatric population there is an increase in the surgical procedure volumes.
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.