Tanscatheter Mitral Valve Repair & Replacement Market Overview:
Tanscatheter Mitral Valve Repair & Replacement Market was valued at $324 million (excluding the revenue from replacement valves) in 2016, and is expected to reach at $1,878 million (both repair and replacement valves) by 2023, registering a CAGR of 30.0% from 2017 to 2023. Mitral valve is located between the left atrium and left ventricle. Mitral valve disease is a condition in which the valve stops functioning properly that results in irregular blood flow. This irregular blood flow can cause diseases such as mitral valve prolapse and mitral valve regurgitation.
Growth in geriatric population and rise in mitral valve disorders drives the market growth. In addition, rise in technological advancements coupled with the introduction novel mitral valves are the other factors that drive the market growth. The major restraint observed for this market is the strict regulations by the governing bodies as well as high cost of mitral valve surgeries and high risk associated with these procedures. Moreover, rise in healthcare expenditure and emergence of cardiovascular diseases in developing countries will create lucrative opportunities for key market players.
By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Product Type Segment Review
The global transcatheter mitral valve repair market based on product is segmented into mechanical valves and bioprosthetic tissue valves. Mechanical valves accounted for about three-fifths share of the total global transcatheter mitral valve repair and replacement market in 2016. This is attributed due to the varied advantages offered by mechanical valves such as increased durability and reduced chances of complication and infections after implantation.
Indication Type Segment Review
The global transcatheter mitral valve repair and replacement market based on indication is segmented into mitral valve stenosis, mitral valve prolapse and mitral valve regurgitation. Mitral valve stenosis holds a dominant position in the global market which accounted for three-seventh share of the global market in 2016. However, mitral valve regurgitation is expected to register a high CAGR during the forecast period. This is attributed due the frequent occurrences of mitral valve regurgitation among the elderly population and the sudden deaths caused due to mitral valve regurgitation, which are responsible for approximately a quarter of the deaths occurring under medical treatment.
Global transcatheter mitral valve repair and replacement market by region
The global transcatheter mitral valve repair and replacement market based on region is segmented into North America, Europe, Asia-Pacific and LAMEA. North America dominated the global transcatheter mitral valve repair and replacement market accounting for about 38% share of the total market in 2016. This is attributed due to the advanced healthcare infrastructure and the increase in awareness regarding mitral valve diseases and the benefits of mitral valve repair and replacement.
The report provides a comprehensive analysis of the key players operating in the global transcatheter mitral valve repair and replacement market such as Abbott Laboratories, Biotronik Pvt Ltd, Colibri Heart Valve, LLC, Edward Lifesciences, HLT Medical, LivaNova Plc, Medtronic Plc, Neovasc Inc. and NeoChord.
The other players of the global transcatheter mitral valve repair and replacement market include Venus Medtech, Transcatheter Technologies GmbH, MValve Technologies and Mardil Medical.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global transcatheter mitral valve repair and replacement market, with current trends and future estimations to elucidate the imminent investment pockets.
- A quantitative analysis from 2016 to 2023 is discussed to enable the stakeholders to capitalize on the prevailing market opportunities.
- Key market players are profiled and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market.
- Porters Five Forces model is expected to interpret the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
Transcatheter Mitral Valve Repair & Replacement Market Key Segments:
- Mechanical Valves
- Bioprosthetic Tissue (Biological) Valves
- Mitral Valve Stenosis
- Mitral Valve Prolapse
- Mitral Valve Regurgitation
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA