Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "Global Transcatheter Devices Market (2023-2028) by Product, Application, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Transcatheter Devices Market is estimated to be USD 12.05 Bn in 2023 and is expected to reach USD 21.48 Bn by 2028, growing at a CAGR of 12.26%.
Introduction:
Transcatheter devices are minimally invasive medical tools used to treat cardiovascular conditions, providing benefits such as faster healing times, reduced infection risks, and less scarring compared to conventional surgeries. They are particularly beneficial for patients who may not be suitable candidates for open-heart surgery.
Key Insights:
- Transcatheter Replacement Devices, including TAVR and TMVR, hold the maximum market share due to commercialization and effectiveness.
- The Cardiovascular application segment dominates the market due to the rising prevalence of heart conditions.
- North America leads the market due to an aging population, valvular diseases, supportive government efforts, and reimbursement policies.
Market Drivers:
- Increasing Geriatric Population Coupled with the Growing Prevalence of Cardiac Disease: The rise in aging populations and cardiac diseases is driving the demand for transcatheter devices.
- Growing Demand for Minimally Invasive Surgeries: Minimally invasive procedures offer faster recovery times, shorter hospital stays, and reduced complications, making them a preferred choice for both patients and healthcare practitioners.
- Favorable Insurance Policies and Reimbursement Scenario: Favorable insurance policies and reimbursement scenarios are further boosting the adoption of transcatheter devices.
Market Opportunities:
- New Advancements in Novel Cardiac Catheterization Devices: Advancements such as robotic assistance in cardiac catheterization and innovative devices like transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve replacement (TMVR) offer growth opportunities.
- Increasing Awareness about TAVR and TMVR Devices: Raising awareness about effective treatments like TAVR and TMVR devices is expanding market opportunities.
Market Challenges:
- Presence of Ambiguous Regulatory Framework: The presence of ambiguous regulatory frameworks can lead to delays in market access for transcatheter devices.
- Lack of Skilled Professionals: The development and utilization of transcatheter devices require highly skilled professionals, and a shortage of such professionals can be a challenge.
Companies Mentioned:
- Abbott Laboratories
- Boston Scientific Corp.
- Bracco Diagnostic, Inc.
- Braile Biomedica
- Colibri Heart Valve, LLC
- Cook Medical, Inc.
- Cryolife, Inc.
- Edwards Lifesciences Corp.
- Jenavalve Technology, Inc.
- LivaNova PLC
- Medtronic PLC
- Meril Life Sciences Pvt. Ltd.
- Neovasc, Inc.
- Stryker Corp.
- Symetis SA
- Terumo Corp.
- Venus Medtech
- Xeltis
Market Segmentation:
The Global Transcatheter Devices Market is segmented based on:
Product:
- Transcatheter Embolization and Occlusion Devices
- Transcatheter Replacement Devices
- Transcatheter Repair Devices
Application:
- Cardiovascular
- Oncology
- Neurology
- Urology
- Others
Geography:
- Americas
- Europe
- Middle East & Africa
- Asia-Pacific
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 168 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $12.05 Billion |
| Forecasted Market Value (USD) by 2028 | $21.48 Billion |
| Compound Annual Growth Rate | 12.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/1kk8vs
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