Mitral Valve Disease Therapeutics Market Expected to Reach $803.4 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Mitral Valve Disease Therapeutics Market," The mitral valve disease therapeutics market was valued at $607.74 million in 2022, and is estimated to reach $803.4 million by 2032, growing at a CAGR of 2.8% from 2023 to 2032.

The major factors driving the growth of the mitral valve disease therapeutics market are increase in prevalence of mitral valve disease, rise in geriatric population, and rise in adoption of various medications to manage the symptoms associated with mitral valve conditions. The increasing prevalence of mitral valve disease, which includes conditions such as mitral valve regurgitation, mitral valve stenosis, and mitral valve prolapse results in demand for appropriate drugs to manage the symptoms associated with mitral valve disease. 

Further, use of medications during initial stages of mitral valve disease and post-operative care are the mitral valve disease therapeutics market trends. For instance, mitral valve regurgitation can increase risk of other heart rhythm problems such as atrial fibrillation. Thus, beta-blockers are used to slow down the heart rate and reduce palpitations or chest pain. In addition, diuretics are used to reduce fluid buildup and swelling in the body, which can help to improve shortness of breath and reduce fatigue. Further, blood thinners are used to prevent blood clots that can be associated with irregular heartbeats such as atrial fibrillation. Thus, rise in use of various classes of drugs to manage the mitral valve conditions is expected to drive the mitral valve disease therapeutics market forecast.

On the basis of drug class, the mitral valve disease therapeutics market analysis is categorized into beta blockers, diuretics, anticoagulants, and others. The anticoagulant segment accounted for largest mitral valve disease therapeutics market size in 2022 and is expected to remain dominant during the forecast period owing to rise in adoption of anticoagulants in managing the symptoms of mitral valve disease and wide availability of direct acting oral anticoagulants (DOACs). 

On the basis of age group, the market is categorized into below 55 years and above 55 years. The above 55 years segment accounted for largest mitral valve disease therapeutics market size in 2022 and is expected to register highest CAGR during the forecast period owing to age-related degenerative changes, rise in geriatric population, and higher prevalence of comorbidities in this age group. In addition, as people age, their heart valves become more susceptible to degenerative changes that can cause mitral valve disease, such as valve thickening or calcification. This increases the likelihood of older adults developing mitral valve disease, leading to a higher demand for therapeutics.  

On the basis of distribution channel, the market is categorized into hospital pharmacies, drug stores and retail pharmacies, and online providers. The drug stores and retail pharmacies segment accounted for largest mitral valve disease therapeutics market share in 2022 and is expected to remain dominant during the forecast period owing to increase in preference of the people toward retail pharmacies, as retail pharmacies guide regarding medications and usage during treatment period.  The online providers segment is projected to register highest CAGR during the forecast period owing to rise in popularity of online pharmacy and number of users preferring online pharmacies.

Region wise, North America accounted for largest mitral valve disease therapeutics market share in terms of revenue in 2022. This growth is attributed to rise in prevalence of mitral valve diseases and early diagnosis of valvular heart diseases. In addition, the increase in the geriatric population in North America has led to a higher prevalence of heart diseases, leading to increased demand for mitral valve therapeutics.  

Moreover, North American healthcare system has made significant investments in improving healthcare infrastructure and facilities, which has enabled better access to healthcare services and treatments for patients with heart diseases. However, Asia-Pacific is expected to witness highest growth during the forecast period, owing to rising incidences of mitral valve disease, increasing healthcare expenditure and growing awareness about the importance of early detection and treatment of mitral valve disease which is also expected to boost market growth.  

Key findings of the study 

• On the basis of drug class, the anticoagulant segment dominated the mitral valve disease therapeutics industry in terms of revenue in 2022. 
• On the basis of age group, the above 55 years segment dominated the mitral valve disease therapeutics industry in terms of revenue in 2022. 
• On the basis of distribution channel, the drug stores and retail pharmacies segment dominated the market in terms of revenue in 2022. However, the online providers segment is anticipated to grow at the highest CAGR during the forecast period. 
• Region wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.