The global transcatheter mitral valve industry size is experiencing an unprecedented surge, setting the stage for remarkable growth and innovation. According to comprehensive market research, the industry is projected to reach a valuation of US$ 933.9 Million by the end of 2022, with an anticipated compound annual growth rate (CAGR) of 13.5%. This upward trajectory is expected to propel the market to approximately US$ 3.3 Billion by 2032.
This exponential growth can be attributed to groundbreaking advancements in medical technology, coupled with the increasing prevalence of cardiovascular diseases on a global scale. As a result, transcatheter mitral valve procedures are witnessing a substantial rise in demand, driven by their minimally invasive nature, providing patients with a viable alternative to traditional open-heart surgeries.
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Future Market Insights, a leading player in the global transcatheter mitral valve industry sector, is well-positioned to capitalize on this burgeoning market. With a commitment to innovation and a focus on delivering cutting-edge medical solutions, we are at the forefront of driving advancements in transcatheter mitral valve technology.
“Our dedication to pushing the boundaries of medical innovation aligns seamlessly with the dynamic landscape of the transcatheter mitral valve industry,” said Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “As a global leader in global transcatheter mitral valve industry, we are excited to contribute to the growth and evolution of cardiovascular healthcare, offering patients more accessible and minimally invasive treatment options.”
Looking ahead, Future Market Insights is poised to play a pivotal role in shaping the future of transcatheter mitral valve procedures. By combining our expertise with ongoing advancements in medical technology, we are confident in our ability to drive positive outcomes for patients while contributing to the overall growth of the global transcatheter mitral valve market.
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.
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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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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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