The increase in incidence of mitral valve diseases such as mitral stenosis and mitral regurgitation in the population of developed as well as developing regions has largely contributed toward the revenue growth in 2021 and is expected to maintain this trend throughout the forecast period. Moreover, market players are investing in the development of technologically advanced mitral valves with increased clinical indications and improved efficacy and quality, which is expected to drive the growth of the market.
In addition, there has been an increasing trend toward minimally invasive mitral valve repair or replacement procedures, which can offer benefits such as reduced recovery time and fewer complications compared to traditional open-heart surgery. Transcatheter mitral valve repair or replacement (TMVR) is one example of a minimally invasive procedure that is gaining traction in the market. Moreover, the mitral valve disease market is becoming increasingly competitive, with a growing number of companies developing new treatments and technologies. This competition is driving innovation and leading to the development of new and more effective treatments for the disease, which is anticipated to augment the market growth.