Transcatheter Mitral Valve Repair & Replacement Market Thumbnail Image

2022

Transcatheter Mitral Valve Repair & Replacement Market

Transcatheter Mitral Valve Repair & Replacement Market Size, Share, Competitive Landscape and Trend Analysis Report by Product, by Indications : Global Opportunity Analysis and Industry Forecast, 2020-2030

LS : Medical Devices & Supplies

Select an option
Author's: Swapna Singh | Roshan Deshmukh
Publish Date:

Get Sample to Email

Transcatheter Mitral Valve Repair & Replacement Market Research, 2030

The global transcatheter mitral valve repair & replacement market was valued at $801.60 million in 2020, and is projected to reach $3.2 billion by 2030, growing at a CAGR of 14.8% from 2021 to 2030.

Mitral valve is a valve in the heart that facilitates blood flow from one chamber of the heart to the left atrium to another valve called the left ventricle. Mitral valves help keep the blood flow in a proper direction and prevent blood from flowing backward. The repair and replacement of valves is performed when they do not supply enough blood to the left ventricle, which further results in infectious diseases associated with heart namely endocarditis, myocarditis, and pericarditis. These infectious diseases affect heart valves and result in lower supply of blood. This further weakens the body’s immune system such as the infection-fighting white blood cells, which cannot directly reach the valves through the bloodstream. Eventually, this blockage or improper supply of blood can lead to death of a patient. Transcatheter Mitral Valve Repair & Replacement includes minimally invasive procedures, which have certain benefits such as shorter recovery time, less stay in hospitals, less pain, fewer wound complications, and better wound cosmesis.In minimally invasive surgeries, a surgeon generally makes a 5cm cut on the right side of the chest and gently opens up the space between ribs to gain entry to the heart. Further, a high definition video camera is used to guide the procedure inside the heart and then the procedure is continued for mitral valve repair or replacement. Therefore, due to the various advantages mentioned above of minimally invasive mitral valve surgeries, most of the surgeon’s advice the patients to opt for transcatheter mitral valve surgeries which further supplement the growth of transcatheter mitral valve repair and replacement market.

Transcatheter Mitral Valve Repair & Replacement Market, TMVR Market, TMVR Market Size, TMVR Market Share, TMVR Market Analysis, TMVR Market Growth, TMVR Market Opportunity, TMVR Market Trends

The TMVR Market Size is expected to exhibit significant TMVR market growth during the forecast period, owing to rise in incidence of cardiac diseases especially among the geriatric population. The key factors driving growth of the TMVR market share are technological advancements and introduction of novel mitral valves. However, stringent regulations by governing bodies for the approval of novel mitral valve stents, high cost of mitral valve surgeries, and risks associated with this procedure restrict the transcatheter mitral valve repair & replacement market growth. On the contrary, continuous product innovations and introduction of novel mitral valves in untapped economies are expected to create lucrative TMVR market opportunity for key market players.

Coronavirus (COVID-19) was discovered in December 2019 in Hubei province of Wuhan city in China. The disease is caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans.

After its discovery in Wuhan, the disease rapidly spread to other parts of the globe. Moreover, this virus causes various symptoms in patients, which range from common symptoms to serious symptoms. For instance, common symptoms include fever, dry cough, and fatigue. However, serious symptoms include difficulty in breathing or shortness of breath, chest pain or pressure, and loss of speech or movement. Furthermore, the virus has high potential of lethality in geriatric population. On March 11, 2020, the World Health Organization made an assessment that COVID-19 can be characterized as pandemic. In addition, only a few vaccines that received emergency approvals for COVID-19 prevention. Thus, social distancing is observed as the most important measure to stop the spread of this disease. Furthermore, to maintain social distancing, various countries across the world have adopted nationwide lockdowns.

The overall impact of COVID-19 remains negative on the transcatheter mitral valve repair and replacement market, owing to decline in number of patients in hospitals & clinics for surgery such as cardiac surgery. For instance, the Centers for Medicare & Medicaid Services (CMS) issued guidelines regarding the nonessential planned surgeries and procedures based on the need of critical situations. However, owing to travel restrictions and lockdown, the supply chain was severely impacted, since production was halted. Furthermore, owing to the outbreak of COVID-19, most markets are experiencing a decline in demand, especially in the transcatheter mitral valve repair and replacement market.

The global TMVR market trends is segmented into product, indication, and region. According to product, the market is divided into mechanical valves and bioprosthetic tissue (biological) valves. On the basis of indication, it is categorized into mitral valve stenosis, mitral valve prolapses, and mitral valve regurgitation. Region wise in Transcatheter Mitral Valve Repair & Replacement Market, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By Product

Transcatheter Mitral Valve Repair & Replacement Market by product, the mechanical valves segment was the major revenue contributor in 2020, and is anticipated to continue this trend during the forecast period, due to rise in geriatric population and increase in incidence of heart valve disorders. In addition, varied benefits associated with mechanical mitral valves such as increased durability and lower complication as compared to bioprosthetic valves boost the Transcatheter Mitral Valve Repair & Replacement Market growth. However, the bioprosthetic tissue (biological) valves segment is projected to exhibit the fastest growth during the forecast period, owing to the need for biocompatible mitral valves for the geriatric population for reducing complications caused post surgery.

Indication Segment Review

By indication, the mitral valve regurgitation segment presently dominates the market, and is expected to remain dominant during the forecast period. This segment is expected to exhibit a prominent growth rate, owing  to high prevalence of mitral valve regurgitation and sudden deaths, which are responsible for approximately a quarter of the deaths occurring under medical treatment.

Region Segment Review

Region wise in TMVR industry, North America dominated the market in 2020, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period, owing to rise in number of high-risk or inoperable severe mitral stenosis patients in the region. In addition, sophisticated healthcare infrastructure, increased awareness among cardiologists, and patients for transcatheter mitral valve repair and replacement are expected to boost the TMVR industry growth.

This report provides comprehensive competitive TMVR market analysis and profiles of prominent market players such as key players operating in LivaNova Plc., Abbott Laboratories, Biotronik Pvt., Ltd., Edward Lifesciences, Medtronic Plc., Neovasc Inc., NeoChord, St. Jude Medical, Direct Flow Medical Inc., and Colibri Heart Valve, LLC.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the transcatheter mitral valve repair & replacement market analysis from 2020 to 2030 to identify the prevailing transcatheter mitral valve repair & replacement market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the transcatheter mitral valve repair & replacement market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global transcatheter mitral valve repair & replacement market trends, key players, market segments, application areas, and market growth strategies.

Transcatheter Mitral Valve Repair & Replacement Market Report Highlights

Aspects Details
icon_5
By Indications
  • Mitral Valve Stenosis
  • Mitral Valve Prolapse
  • Mitral Valve Regurgitation
icon_6
By PRODUCT
  • Mechanical Valves
  • Bioprosthetic Tissue (Biological) Valves
icon_7
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
icon_8
Key Market Players

LIVANOVA PLC, ABBOTT LABORATORIES, NEOCHORD INC., NEOVASC INC., BIOTRONIK SE & CO. KG, EDWARDS LIFE SCIENCE CORPORATION, HLT, INC., MEDTRONIC PLC, CORAMAZE TECHNOLOGIES GMBH., COLIBRI HEART VALVE, LLC.

Analyst Review

This section provides various opinions of the top-level CXOs in the global transcatheter mitral valve repair and replacement market. In accordance to several interviews conducted, rise in demand for transcatheter mitral valve repair and replacement procedure is attributable to increase in prevalence of mitral valve diseases such as mitral valve stenosis, mitral valve prolapse, and mitral valve regurgitation coupled with increase in high risk population or inoperable patients. Furthermore, key players of the market aim to develop technologically advanced transcatheter mitral valves with increased clinical indications.

According to the perspectives of CXOs of leading companies in the market, rise in geriatric population, which is prone to mitral stenosis and prolapse, technological advancements in transcatheter mitral valves, and increase in calcification diseases majorly drive the growth of the transcatheter mitral valve repair and replacement market.

However, high cost of these devices and stringent regulatory norms of the government hamper the market growth. According to the CXOs, the majority of transcatheter mitral valve manufacturers and distributors have focused on clinical trials to launch their technologically advanced transcatheter mitral valves.

Author Name(s) : Swapna Singh | Roshan Deshmukh
Frequently Asked Questions?

The upcoming trends of Transcatheter Mitral Valve Repair & Replacement Market in the world includes rise in incidence of cardiac diseases especially among the geriatric population. The key factors driving growth of the market are technological advancements and introduction of novel mitral valves.

The leading application of Transcatheter Mitral Valve Repair & Replacement Market are rise in incidence of cardiac diseases especially among the geriatric population. The key factors driving growth of the market are technological advancements and introduction of novel mitral valves

North America dominated the market in 2020, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period.

Transcatheter Mitral Valve Repair & Replacement is projected to reach $ 3188.6 million by 2030, registering a CAGR of 14.8% from 2021 to 2030.

The top companies to hold the market share in Transcatheter Mitral Valve Repair & Replacement includes LivaNova Plc., Abbott Laboratories, Biotronik Pvt., Ltd., Edward Lifesciences, Medtronic Plc., Neovasc Inc., NeoChord, St. Jude Medical, Direct Flow Medical Inc., and Colibri Heart Valve, LLC.

Loading Table Of Content...

Transcatheter Mitral Valve Repair & Replacement Market

Global Opportunity Analysis and Industry Forecast, 2020-2030