What is Transcatheter Devices?
A transcatheter device is a device used to conduct the minimally invasive procedure to treat cardiac disease, neurological and urological disorders. These devices help to reduce the complications such as imprecise deployment, catheter entrapment, and balloon deflation associated with coiling. The factors such as Increased Patient Preference for Minimally Invasive Procedures, Increased Healthcare Spending in Developing Regions and Favorable Insurance Policies and Reimbursement Scenario are the key drivers of the global Transcatheter Devices market. In addition, Technological Advancements in Medical Science also fueling market growth. However, the High Cost of Minimally Invasive Surgeries may hamper the market growth.
The market study is broken down by Type (Transcatheter Embolization and Occlusion Devices, Transcatheter Replacement Devices and Transcatheter Repair Devices), by Application (Cardiovascular, Oncology, Neurology, Urology and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Transcatheter Devices market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
CryoLife, Inc. (United States), Edwards Lifesciences Corporation (United States), Abbott (United States), Boston Scientific Corporation (United States), Terumo Corporation (Japan), Neovasc Inc. (Canada), Jenavalve Technology, Inc. (United States), Stryker Corporation (United States), LivaNova, PLC (United States) and Medtronic plc (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Meril Life Sciences Pvt. Ltd (India).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Transcatheter Devices market by Type, Application and Region.
On the basis of geography, the market of Transcatheter Devices 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). If we see Market by Distribution Channel, the sub-segment i.e. Online Channels will boost the Transcatheter Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In July 2020, Edwards Lifesciences Corporation, the global leader in patient-focused innovations for structural heart disease and critical care monitoring, has announced that it has reached an agreement with Abbott to settle all outstanding patent disputes between the companies in cases related to transcatheter mitral and tricuspid repair products. and In January 2020, Abbott won the first EU approval for a transcatheter mitral valve replacement device, expanding its potential addressable population of mitral regurgitation patients beyond candidates for valve repair with its blockbuster device MitraClip.
Market Trend
- Technological Advancements in The Medical Science
Market Drivers
- Increased Patient Preference for Minimally Invasive Procedures
- Increased Healthcare Spending in Developing Regions
- Favourable Insurance Policies and Reimbursement Scenario
Opportunities
- Growing Geriatric Population Worldwide
- Growth in the Healthcare Industry Worldwide
Restraints
- High Cost of the Minimally Invasive Surgeries
Challenges
- Stringent Government Rules and Regulations
Key Target Audience
Transcatheter Device Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.