Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Transcatheter Heart Valve Replacement Systems Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”.
LOS ANGELES, May 29, 2019 (GLOBE NEWSWIRE) -- The Global Transcatheter Heart Valve Replacement Market size is estimated to reach the market value around USD 11 billion by 2026 with CAGR of 12.9 % over the forecast time frame 2019-2026.
Cardiac valve transcatheter is the latest technology that offers a range of advantages over traditional surgery. It is less invasive, easier to use than conventional surgical techniques and has a less mortality rate. The mitral valve replacement transcatheter technology is very recent and is becoming more prominent since it receives rapid approval from several governments globally. Due to the complex structure and position, the replacement of the mitral heart valve is quite complex. Transcatheter Mitral Heart Valve therefore creates a large market through substitution of the traditional mitral valve replacement technique.
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Industry Insights
Transcatheter cardiac valve application was estimated at around USD 290 million in 2018 in pulmonary heart valve diseases. A major driving factor will be the increase in the incidence of pulmonary heart valvular disease in neonates. In ambulatory surgical centers, use of transcatheter heart valves is projected to increase by 14% over the projected period. The outpatient surgical centers are hospitals that conduct minimally invasive surgeries and do not require long-term hospitalization. Increasing demand for minimally invasive surgeries will therefore increase business growth in ambulatory surgeries.
In addition to patients with leaky or narrow pulmonary valve, transcatheter pulmonary valve replacement procedures are advised specifically following the operative replacement. As a result, the growth of the heart valve replacement transcatheter market will be increased in future by increased pulmonary valve disease. In the projection period, the transapical market approach is estimated to grow to a CAGR of 14.1 %. This approach is used especially for the implantation of a valve in mitral organic prothesis and a valve in the anulo-plasty ring implantation for patients with acute mitral regurgitation.
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Regional Stance
Increasing investment by leading market players in capital for transcatheters is one of the primary drivers that boosts the growth of North America and Europe's transcatheter heart valve substitution market. Abbott laboratories, for instance, have announced their investment in portico transcatheter valve manufacturing by a global health leader. In North America and Europe, therefore, the venture capital investment of major players in the healthcare sector in the manufacture of transcatheter heart valve devices will be market drivers. Germany dominated the European heart valve replacement transcatheter market and in 2018 stood at some 340 million USD. Germany was one of the leading nations in the implantation of cardiovascular valves worldwide. In recent years, tremendous developments in the country's replacement of the transcatheter heart valve have led to increasing demand and rapid deployment and fueling business growth.
In most Asia-Pacific countries, valvular diseases are an emerging epidemic. The incidence of heart disease in China and India is considerably high and has gradually increased in recent years. The quality of treatment available to patients is also increasing. Improvements in the treatment of valve disease and increasing awareness of heart valve replacement devices can boost business growth.
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The main disadvantage in the growth of the transcatheter heart valve replacement market is a lack of awareness among people in the Middle East and Africa of the latest medical facilities. Most of the Mediterranean countries spend more on defense than on R&D and healthcare. The health sector therefore lags behind primary development indicators in a few of the MEA regions.
Key Players & Strategies
The Transcatheter Heart Valve Replacement market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players are Koninklijke Philips N.V., Hitachi, Sanrad Medical Systems, Fonar Corporation, Toshiba and Neusoft Medical Systems, Siemens, Aurora Imaging Technologies, Esaote SpA and Toshiba.
Industry players have implemented several strategic initiatives to enhance their market position. Strategic initiatives include fusions, procurement and the launch of new products. Toshiba launched a Vantage Galan 3 T MRI system in January 2017, for example. New product launch will encourage growth in the company.
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