The global transcatheter mitral valve industry is on an upward trajectory, poised to reach a valuation of US$ 933.9 Million by the close of 2022, according to comprehensive market research. Projected to expand at a remarkable CAGR of 13.5%, this dynamic market is anticipated to soar to approximately US$ 3.3 Billion by 2032.
The significant growth in the transcatheter mitral valve market is attributed to groundbreaking advancements in medical technology and an increasing prevalence of cardiovascular diseases worldwide. Transcatheter mitral valve procedures have witnessed a surge in demand owing to their minimally invasive nature, offering patients a viable alternative to traditional open-heart surgeries.
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This exponential growth is paving the way for innovative solutions, with key players in the healthcare sector investing extensively in research and development. These efforts are aimed at enhancing the efficacy and safety of transcatheter mitral valve interventions, ultimately improving patient outcomes and quality of life.
Transcatheter mitral valve procedures have gained significant traction in the medical field due to their minimally invasive nature and improved patient outcomes. The market’s expansion reflects the growing confidence of healthcare professionals and patients in these innovative procedures.
Commenting on the forecast, Future Market Insights stated, “The escalating demand for minimally invasive procedures and the rising prevalence of cardiac ailments have fueled the growth of the transcatheter mitral valve market. This industry analysis underscores the immense potential and opportunities for companies investing in this segment.”
Surgical treatment for degenerative mitral regurgitation is still regarded as the gold standard even though MV disease is more common than AS. For patients with high surgical risk who are refused surgery and for whom medicinal therapy is insufficient, TMVR may develop as a promising treatment alternative.
In some patients, the rapidly evolving field of transcatheter mitral valve replacement may be accepted as an effective alternative to surgery. The targeted area of the MV equipment aids in the identification of TMVR devices. The need to convert a transapical procedure to a completely transcatheter (transfemoral and transeptal) one is expected to increase over the next ten years as more preclinical programmes are developed.
To achieve outcomes comparable to open surgery in degenerative mitral regurgitation, transcatheter therapies will need to adhere to rigorous indications due to strict patient selection criteria for each device or use numerous procedures in a single repair process for severe MV disease. The global transcatheter mitral valve market is anticipated to grow among companies in the sector as a result of the aforementioned causes.
Key Takeaways: Transcatheter Mitral Valve Market:
- By product, the transcatheter mitral valve repair segment held approximately 85.4% of share in 2021 and is anticipated to lead in 2022-2032.
- Based on indication, the mitral regurgitation segment generated a transcatheter mitral valve market share of around 83.1% in 2021.
- By end user, the hospitals segment is expected to dominate the transcatheter mitral valve market with a projected CAGR of 13.6% during the forecast period.
- North America transcatheter mitral valve market generated a share of around 55.9% in 2021.
- Germany held a market share of about 9.2% in 2021 and is likely to remain at the forefront in the Europe transcatheter mitral valve market.
“Development of unique transcatheter mitral valve products and growing advancements in the field of degenerative mitral regurgitation are expected to push the global transcatheter mitral valve market in the forecast period,” says an analyst of Future Market Insights.
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Competitive Landscape: Transcatheter Mitral Valve Market
The transcatheter mitral valve market is consolidated with the presence of various established players across the globe. Key players are enforcing clinical evaluations of pipelined products to strengthen their market positions. They are also investing huge sums in research and development activities to generate more revenues in the global market.
- In March 2022, Edwards Lifesciences received approval from the U.S. Food and Drug Administration (FDA) for its MITRIS RESILIA valve. It is a tissue valve replacement which is specifically designed for the heart’s mitral position.
- In April 2020, Abbott received the CE Mark approval for its Tendyne Transcatheter Mitral Valve Implantation System and TriClip Transcatheter Tricuspid Valve Repair System under its structural heart device portfolio.
Transcatheter Mitral Valve Market Outlook by Category:
By Product:
- Transcatheter Mitral Valve Replacement
- Transcatheter Mitral Valve Repair
By Indication:
- Mitral Stenosis
- Mitral Regurgitation
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
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