The global transcatheter valve market is anticipated to reach a value of USD 8.62 billion by 2024, according to a new report by Grand View Research, Inc. The market is currently under-penetrated as these products are approved only for geriatric patients who cannot undergo normal valve surgeries. Growth drivers such as increasing prevalence of chronic cardiovascular diseases, increasing economic development, improvement in reimbursement scenario, and faster adoption of new technologies are expected to significantly improve the usage rates over the forecast period.
The transcatheter valve market is evolving rapidly due to the continuous investments in R&D by the key market players such as Edwards Life Sciences, Medtronic, St. Jude, and Boston Scientific. The technologically advanced products such as the SAPIEN 3 transcatheter heart valve and the TRINITY Valve are designed to reduce the surgical complications and improve patient compliance. For instance, the TRINITY TAVI system enables easy retrieval and repositioning of the device, without compromising on patient safety and treatment outcomes.
Furthermore, the market is expected to experience strong tailwinds on account of growing investor interest, lucrative product pipeline, faster regulatory approvals, and high competition to acquire potential start-ups. For example, some of the notable investments in the market include the USD 37 million funding of Venus MedTech by Goldman Sachs. In line with the market trends, the other market participants such as Boston Scientific, Edward Life Sciences, and Medtronic have also increased their investments to develop new products for management of mitral valve regurgitation and tricuspid valve replacements.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/transcatheter-valve-market
Further Key Findings from the Study Suggest:
·
Aortic stenosis is the most prevalent valve
disease, and if untreated it can lead to death. In 2015, transcatheter aortic
valve segment accounted for the maximum revenue of over USD 1.6 billion and is
expected to retain its dominant share over the forecast period.
·
However, the transcatheter mitral valve segment is
expected to emerge as the fastest growing with a CAGR of 23% over the forecast
period. Increasing number of elderly patients with mitral regurgitation and
growing demand for technologically advanced transcatheter valve devices are
expected to drive the usage of transcatheter mitral valves over the forecast
period.
·
In 2015, the self-expanded transcatheter
accounted for the largest market share of 65%. These catheters are most
commonly used and, currently, most of the products that are available in the
market are based on this technology. However, balloon expanded transcatheters
are expected to have the fastest CAGR of 16.8% over the forecast period.
·
North America held the maximum share of nearly49%
in 2015. A combination of different factors such as the presence of large
target population, high disposable income, strong reimbursement framework,
contribute toward the high revenue generated in this region.
·
Asia Pacific is anticipated to register the
fastest CAGR of 17.8% over the forecast period. Increasing disease burden,
improvement in clinical trial regulations, growing preference for advanced
medical technologies, increase in medical tourism, and special incentives for
investments in healthcare sector are expected to strongly favor the growth in
this region.
·
Some key market players Boston Scientific
Corporation, Bracco Group, Braile Biomedica, Direct Flow Medical, Edwards
Lifesciences, JenaValve, St. Jude Medical, Symetis. ValveXchange, Edwards Lifesciences,
and Medtronic are the early movers in this market have captured significant
market share in the North America, Europe, and the Asia Pacific region.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the transcatheter valve market by application, technology and region:
Transcatheter Valve Market Application Outlook (Market revenue in USD Million, 2013 - 2024)
·
Transcatheter aortic valve
·
Transcatheter pulmonary valve
·
Transcatheter mitral valve
Transcatheter Valve Market Technology Outlook (Market revenue in USD
Million, 2013 - 2024)
·
Balloon expanded transcatheter valve
·
Self-expanded transcatheter valve
Transcatheter Valve Market Regional Outlook, (Market Revenue in USD
Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-transcatheter-valve-market
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company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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