Transcatheter Devices Market Size Is Expected To Reach USD 19,557.7 Million By 2026 : Grand View Research Inc.

Transcatheter Devices Market Size Is Expected To Reach USD 19,557.7 Million By 2026 : Grand View Research Inc.

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According to report published by Grand View Research, The global transcatheter devices market size was valued at USD 7,763.3 million in 2018 and is projected to grow at a CAGR of 12.1% over the forecast period.

The global transcatheter devices market size is expected to reach USD 19,557.7 million by 2026, registering a CAGR of 12.1% over the forecast period, according to a new report by Grand View Research, Inc. Increase in adoption of minimal invasive procedures, high prevalence of chronic diseases, and growing preference for transcatheter replacement or repair procedures over open heart surgery are the key factors contributing to the market growth. The demand for transcatheter devices is growing owing to the fact that they are minimally invasive in nature and offer shorter hospital stays and fast recovery to patients. This is another major factor positively impacting the market growth. Also, key players are focusing on developing advanced heart valve replacement/ repair therapies, for instance, Abbott in 2019 received a FDA approval for its fourth-generation MitraClip device – MitraClip G4 that offers physicians in the U.S. with an extensive range of clip sizes, and facilitates real time assessment of procedure, thereby enabling doctors to efficiently treat mitral valve disease.

The growing technological advancement and constantly increasing volume of transcatheter devices in the pipeline for aortic valve replacement and repair, tricuspid valve repair, mitral valve replacement and repair, coupled with a growing geriatric population at high risk for open surgery are some of the factors boosting their demand. The growth is mainly driven by increasing prevalence of several cardiovascular disorders such as rheumatic heart disorders, cerebrovascular diseases, hypertensive heart diseases, and inflammatory heart diseases.

According to American Heart Association estimates in 2016, nearly 840,768 deaths were registered in the U.S. due to various cardiovascular diseases. The increasing patient pool for heart valve disorders and growing demand for heart valve replacement are other key factors expected to drive growth of transcatheter valves during the forecast period. However, high costs of transcatheter heart valve repair/replacement devices, a stringent regulatory framework for their approval, and the need for lifelong surveillance of these artificial valves are some of the barriers limiting market growth.

U.S. Transcatheter Devices Market Size, by Product, 2014 - 2026 (USD Million)

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Key Takeaways Of The Report :

  • Transcatheter replacement devices emerged as the largest product segment in 2018 with a revenue share of 50.4% in global transcatheter devices market

  • Amongst replacement, transcatheter aortic valve replacement devices accounted for the largest revenue share in 2018, and is further projected to expand at fastest CAGR during the forecast period

  • Cardiovascular emerged as the leading application segment, however oncology segment is expected to register significant growth rate over the forecast period

  • North America accounted for the largest share due to increasing investment in the research & development activities along with growing awareness regarding advanced transcatheter heart valve therapies

  • Key operating players such as CryoLife, Inc., Edwards Lifesciences Corporation, Abbott, Boston Scientific Corporation, JenaValve Technology, Inc. and others are focused on developing advanced transcatheter heart valves. For instance, In July 2019, Abbott received U.S. FDA approval for MitraClip – heart valve repair device for treatment of mitral regurgitation, which estimated to boost company’s growth

Global Transcatheter Devices Market Share, by Application, 2018 (%)

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Grand View Research has segmented the global transcatheter devices market on the basis of product, application, and region:

Transcatheter Devices Product Outlook (Revenue, USD Million, 2014 – 2026)

  • Transcatheter Embolization and Occlusion Devices

    • Coils

      • Pushable coils

      • Detachable coils

    • Non Coils

      • Flow diverting devices

      • Embolization particles

      • Liquid embolics

      • Other embolization and occlusion devices

      • Accessories

  • Transcatheter replacement devices

    • Transcatheter aortic valve replacement

    • Transcatheter pulmonary valve replacement

    • Transcatheter mitral valve replacement

  • Transcatheter repair devices

    • Transcatheter mitral valve repair

    • Transcatheter tricuspid valve repair

Transcatheter Devices Application Outlook (Revenue, USD Million, 2014 – 2026)

  • Cardiovascular

  • Oncology

  • Neurology

  • Urology

  • Others

Transcatheter Devices 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

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

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