What is Transcatheter Device Market?
Transcatheter devices is rapidly becoming an established treatment option, cardiology has shifted focus toward the next major frontier in interventional structural heart technology -transcatheter mitral valve repair (TMVR). Mitral regurgitation is common, affecting more than 4 million Americans — nearly one in 10 people aged 75 and older. Due to the success of transcatheter devices is attracting many new patients with aortic disease to hospitals’ TAVR programs, many are now looking to do the same with that large pool of mitral valve patients. Transcatheter mitral valve replacement is a new edge in the cardio device field, with big legacy medical device companies including Edwards Lifesciences, Medtronic and Abbott.
The market study is being classified by Type (Transcatheter Embolization and Occlusion Devices, Transcatheter Replacement Devices [Aortic Valve Replacement Devices, Pulmonary Valve Replacement, Mitral Valve Replacement] and Transcatheter Repair Devices [Mitral Valve Repair, Tricuspid Valve Repair]), by Application (Cardiovascular, Oncology, Neurology, Urology and Others) and major geographies with country level break-up.
Abbott (United States), CryoLife, Inc. (United States), Boston Scientific Corporation (United States), Edwards Lifesciences Corporation (United States), JenaValve Technology, Inc. (United States), Meril Lifesciences Pvt. Ltd. (India), Neovasc Inc. (Canada), Terumo Corporation (Japan) and Medtroni (United States) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Transcatheter Device market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Transcatheter Device market by Type, Application and Region.
On the basis of geography, the market of Transcatheter Device has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The Increasing Geriatric Population Coupled With Growing Prevalence of Cardiac Disease Across the Globe
- Rising Demand for Minimally Invasive Surgical Options
- Growing Technological Advancement in Transcatheter Device
- High Cost Associated With the Transcatheter Devices and Surgical Procedure
- Stringent Government Regulations and Approval Procedures
- Increasing Awareness and Attractiveness towards Non-Invasive or Minimally Invasive Surgeries
- Growing Healthcare Infrastructure in Developing Countries
On Sept. 21, 2020- Abbott announced it has received CE Mark for its fourth-generation MitraClip™ Transcatheter Mitral Valve Repair System, the leading minimally invasive mitral valve repair device in the world. Known as MitraClip G4, the device is now approved for use in Europe and other countries that recognize CE Mark as a non-surgical option for the treatment of mitral regurgitation (MR), or a leaky heart valve. The device is already approved for use in the U.S.
Key Target AudienceManufacturers of Transcatheter Device, Suppliers of Transcatheter Device, Wholesalers, Distributors and Retailers of Transcatheter Device, Healthcare Industry, Government Regulators, Clinical Laboratory and Others
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