Global Transcatheter Devices Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Centers for Medicare & Medicaid Services (CMS) announced that it had issued coverage of TAVR under the Medicare National Coverage Determination policy

The Global Transcatheter Devices Market is estimated to be USD 12.48 Bn in 2023 and is expected to reach USD 22.26 Bn by 2028 growing at a CAGR of 12.28%.

Transcatheter devices are minimally invasive medical tools used to treat a range of cardiovascular conditions, including coronary artery disease, structural heart defects, and disorders of the heart valves. Typically, these devices are put into the body through a tiny puncture or incision and are directed to the desired location using imaging methods like X-ray, ultrasound, or MRI. Compared to conventional surgical procedures, transcatheter devices provide several benefits, such as faster healing times, decreased infection risks, and less scarring. They can also be applied to individuals who are not suitable candidates for traditional open-heart surgery because of their age, state of health, or other circumstances.

The market growth of minimally invasive procedures/surgeries (MIS) is driven by increasing demand, one of the key factors propelling the market growth. These procedures are associated with reduced patient trauma and faster recovery time than invasive procedures such as open-heart surgeries. Additionally, MIS requires shorter hospital stays, resulting in better patient outcomes and economic viability from both micro and macro perspectives. Moreover, these surgeries have lower post-surgery complications and mortality rates, making them a preferred choice for healthcare practitioners and patients. There has been an increased utilization of less invasive surgical procedures in various medical fields, including gynecology, urology, neurosurgery, gastrointestinal surgeries, cardiology, and pulmonary medicine.

Constructing predictive algorithms and models takes a lot of skill and specialized knowledge in data analytics and machine learning. This expertise can fetch significant salaries and consultancy fees, making it potentially challenging to acquire and maintain. Unfortunately, the market is constrained by the high cost of predictive analytics implementation. Predictive analysis requires extensive hardware and software infrastructure, which can be expensive. High-performance computing equipment, data storage options, and analytical software tools are all included in this.

However, the market has opportunities for new advancements in novel cardiac catheterization devices. One of the most significant developments is using robots to help in cardiac catheterization, which enables more accurate and controlled movements. This innovation may lower the possibility of problems and enhance patient outcomes. A defective aortic valve can be replaced with TAVR, a minimally invasive method, without open heart surgery. A brand-new kind of stent called a BVS gradually dissolves over time, leaving a natural channel in its place. OCT is a high-resolution imaging technique that enables precise coronary artery visualization during cardiac catheterization. In patients with atrial fibrillation, LAAC devices are used to stop blood clots from developing in the left atrial appendage. Overall, these recent developments in novel cardiac catheterization technologies have the potential to enhance cardiac treatments' accuracy and precision, reduce complications, and improve patient outcomes.

• However, the development and use of transcatheter devices require highly skilled professionals, including physicians, nurses, and technicians. The proper usage and acceptance of these technologies may be hampered by the shortage of qualified professionals in this field. Furthermore, the regulatory approval processes for medical equipment, particularly transcatheter devices, are frequently complicated and drawn out. However, the availability of these devices for patients who could benefit from them may be delayed because of this.

Market Segmentations

• The Global Transcatheter Devices Market is segmented based on Product, Application, and Geography.
• By Product, the market is classified into Transcatheter Embolization and Occlusion Devices, Transcatheter Replacement Devices, and Transcatheter Repair Devices.
• The Transcatheter Replacement Devices emerged to hold the maximum market share, mainly owing to the presence of the most commercialized products in the market. The highest revenue share among replacement devices is held by transcatheter aortic valve replacement (TAVR) devices, followed by transcatheter mitral valve replacement, as a result of growing mergers and acquisitions, collaborations, and funding for research and development to provide effective treatment and reduce complications. Globally, these devices are primarily anticipated to improve the management of symptomatic aortic valve stenosis and mitral valve regurgitation patients. Abbott's MitraClip G4 device, which allows U.S. doctors a wide choice of clip sizes and facilitates real-time procedure assessment, was approved by the FDA in 2019. It makes it possible for medical professionals to treat mitral valve disease effectively.
• By Application, the market is classified into Cardiovascular, Oncology, Neurology, Urology, and Others.
• The Cardiovascular is the largest application segment with a revenue share. The segment is expected to rise as more people worldwide develop deadly heart conditions, including mitral regurgitation, aortic stenosis, and tricuspid regurgitation. Another aspect influencing the use of transcatheter devices in the cardiovascular space is improvements in cardiac problems and notable reductions in mortality with the most recent fourth-generation TAVR systems.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
• North America accounted for the highest revenue share in the transcatheter devices market. A few key reasons propelling the market's expansion include an aging population, increased valvular illnesses among the elderly, rising healthcare costs, and rising demand for less invasive procedures. Transcatheter valve replacement treatments are becoming more common in this demographic because of the growing number of elderly patients at high risk for open surgery. Also, the presence of supportive government efforts and reimbursement rules, together with the growing preference for transcatheter replacement or repair treatments over open heart surgery, are some of the key elements responsible for the most significant revenue share.

Recent Development

• Abbott launched its latest generation transcatheter aortic valve implantation (TAVI) system, Navitor, making the minimally invasive device available for people in India with severe aortic stenosis who are at high or extreme surgical risk. - December 2022
• Nyra Medical Announces $20 Million Series A Financing for its Transcatheter Heart Valve Repair Technology. - November 2022

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Abbott Laboratories, Boston Scientific, Bracco Diagnostic, Braile Biomedica, Colibri Heart Valve, Cook Medical, Cryolife, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
• The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Transcatheter Devices Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Transcatheter Devices Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Transcatheter Devices Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market