Laplace Interventional, a US-based medical device company focusing on transcatheter valve technology, recently announced the successful completion of a Series C funding round worth $22 million. The funding will be put towards an early feasibility study, designed to determine the clinical effectiveness and safety of Laplace’s transcatheter tricuspid valve replacement system. If successful, the trial would be an important step towards regulatory approval and market access.
Transcatheter valve replacement technologies have been displacing open-heart valve surgical procedures worldwide in recent years. Major medical device companies such as Edwards Lifesciences, Medtronic and Abbott already have transcatheter valve devices available on the market for several kinds of valve replacement procedures. The largest markets for these devices include aortic and mitral valve replacements. The transcatheter tricuspid valve device market is both newer and smaller, mostly due to the lower number of possible procedures, but still promises to be a lucrative market for interested parties. Funding for smaller companies such as Laplace is vital to ensure continued innovation and development in these new medical device spaces.
According to the GlobalData Medical Intelligence Center, the global transcatheter tricuspid valve repair and replacement market was worth $230.4 million in 2024. If Laplace can successfully push its transcatheter tricuspid valve to market, the company still faces steep competition from existing medical device companies with expertise in the transcatheter valve repair and replacement market space. These competitors include major companies, such as Edwards Lifesciences and Abbott Laboratories, both of which already have tricuspid valve products available on the market.
Competition in the medical device space is important to ensure continued innovation and research. If Laplace can prove the safety and efficacy of its device to regulators, it could spark additional competition in the space as companies try and establish market dominance. Increased competition could also bring about increased patient outcomes and procedure volume, as the devices become more commonplace and effective.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData