Transcatheter Devices Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

Published Date : Jan 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Transcatheter Devices market size is expected to be worth around US$ 19,560.8 million by 2028, according to a new report by Vision Research Reports.

The global Transcatheter Devices market size was valued at US$ 7,770.5 million in 2020 and is anticipated to grow at a CAGR of 12.5% during forecast period 2021 to 2028.

Growth Factors

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.

Report Highlights

transcatheter replacement devices emerged as the key potential segment, mainly owing to the presence of highest number of commercialized products in the market. The transcatheter aortic valve replacement (TAVR) devices followed by transcatheter mitral valve replacement accounts for the highest revenue share among the replacement devices due to increasing mergers & acquisitions, collaborations, and growing funding for the research & development to offer effective treatment and reduce complications. 

These devices are majorly expected to enhance the treatment of cases suffering from mitral valve regurgitation, and symptomatic aortic valve stenosis globally. This product launch will help the company to strengthen its product offerings for transcatheter devices, thus enabling the Abbott to account for majority share of the global market over coming few years.

Transcatheter repair devices segment is expected to emerge at a steady growth rate of 18.9% over the forecast period. Edwards Lifesciences and Abbott are the key players operating in transcatheter mitral valve repair and tricuspid valve repair market. The Cardioband system developed by Edwards Lifesciences received the CE approval in 2015 and in 2020 the product also got CE approved for tricuspid valve repair. Also, MitraClip - a transcatheter mitral valve repair device developed by Abbott received the FDA Approval in 2013. Thus, currently the majority of market for repair devices is captured by these two key players.

cardiovascular is the largest application segment with a revenue share of 56.11%. Increasing patient pool of fatal cardiac disorders, such as mitral regurgitation, aortic stenosis, and tricuspid regurgitation over the globe is projected to boost the segment growth. Improvements in cardiac complications along with significant reductions in mortality with the usage of latest fourth-generation TAVR systems is another factor driving application of transcatheter devices in cardiovascular space.

The transcatheter embolization devices register major use in oncology owing to the embolization technique being an effective and popular treatment for patients with different cancers such as kidney, pancreatic, breast and liver cancer. Among these, liver cancer is the most common cancer type that is treated using embolization and occlusion devices.

North America accounted for the highest revenue share in transcatheter devices market. Growing geriatric population, rising prevalence of valvular diseases in the geriatric population, increasing healthcare expenditure, and rising preference for minimally invasive surgeries are some of the major factors driving the market growth. Due to the growing geriatric population at high risk for open surgery, the number of transcatheter valve replacement procedures are rising in this population. Moreover, growing preference for transcatheter replacement or repair procedures over open heart surgery coupled with presence of favorable government initiatives and reimbursement policies are some of the crucial factors responsible for the largest revenue share.

Key Players

CryoLife, Inc., Edwards Lifesciences Corporation, Abbott, Boston Scientific Corporation, JenaValve Technology, Inc., Terumo Corporation, Neovasc Inc., and Meril Lifesciences Pvt. Ltd. 

Market Segmentation

  • Product Outlook

    • 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

  • Application Outlook 

    • Cardiovascular

    • Oncology

    • Neurology

    • Urology

    • Others

  • Regional Outlook 

    • 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

The Transcatheter Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Transcatheter Devices market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Transcatheter Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Transcatheter Devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Transcatheter Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Transcatheter Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Transcatheter Devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Transcatheter Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Transcatheter Devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Transcatheter Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Transcatheter Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Transcatheter Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Transcatheter Devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Transcatheter Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Transcatheter Devices market. These factors have benefited the growth of the global market for Transcatheter Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Transcatheter Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Transcatheter Devices are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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