- Advancements in the techniques of Transcatheter Mitral Valve Implantation and substantial prevalence of Mitral Regurgitation with favorable reimbursement scenarios are expected to fuel the market growth.
VANCOUVER, BC, Sept. 23, 2020 /PRNewswire/ --
Transcatheter Mitral Valve Implantation Market Size - USD 1.82 billion in 2019, Transcatheter Mitral Valve Implantation Market Growth - CAGR of 14.4%, Transcatheter Mitral Valve Implantation Industry Trends- percutaneous transcatheter mitral valve replacement techniques, favorable investment opportunities, and technological advancements
According to the current analysis of Emergen Research, the Global Transcatheter Mitral Valve Implantation Market was valued at USD 1.82 billion in 2019 and is expected to reach USD 4.67 billion by 2027, at a CAGR of 14.4%. Rising incidences of mitral valve diseases, new pipeline devices, together with the increasing elderly population with heart conditions, is positively driving the growth of the Transcatheter Mitral Valve Implantation (repair and replacement) market in the forecast period. Mitral Regurgitation (MR) is a widespread valve disorder affecting more than 4 million people in the United States. Roughly, 250,000 cases of mitral regurgitation are recorded in the United States annually, out of which close to 50,000 patients opt for the recommended surgery. Transcatheter mitral valve replacement (TMVR) is a substitute therapeutic opportunity that has been enhanced considerably to competently treat severe mitral regurgitation in patients who are exposed to high or prohibitive surgical risks.
A practicable and comparatively safe option in patients with mitral regurgitation is called percutaneous transcatheter mitral valve replacement. In terms of safety and effectiveness, these techniques are proving to be beneficial for those patients with the potential risk of mitral valve disease. The escalating demand for this technique is enhancing the growth prospects of the global transcatheter mitral valve implantation market over the forecast period. However, cases of failed surgeries, costly target surgeries, and rigorous government rules and regulations are likely to hinder the industry growth in the forecast period.
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Further key findings from the report suggest
- To develop functional (secondary) mitral regurgitation, in March 2019, MitraClip's suggestions to address the secondary MR was expanded and approved by the U.S. Food and Drug Administration (FDA). This can be administered in patients with structural changes in the heart (such as enlargement due to heart failure)
- As mechanical values last long up to approximately 25 years post-implant/surgery, the mechanical valves segment is anticipated to dominate the industry with a market share of almost 58.3%
- Mitral Valve Stenosis dominates the market in terms of share of approximately 44.1% in 2019. However, the Mitral Valve Regurgitation segment in the application outlook registered the highest growth rate of approximately 14.1%, owing to a rise in conditions of mitral regurgitation and due to the development of potential techniques for successful surgeries.
- Minneapolis-based CardioMech AS, a medical device company, is developing a transfemoral, transseptally delivered mitral valve repair technology for which in August 2020, it raised funds worth USD 18.5 million for its first-in-human feasibility trial.
- North America dominated the market in terms of revenue in 2019. Factors contributing to the largest market share (39.7%) are increasing the success rate of surgeries, high employability of technologically advanced medical heart therapy devices, and favorable compensation policies, among other encouraging scenarios.
- Key market players profiled for this industry analysis include Abbott Laboratories, HLT Medical, Neovasc, Edward Lifesciences, Biotronik Private Limited, LivaNova, Colibri Heart Valve, Medtronic, NeoChord, MValve Technologies, Transcatheter Technologies GmbH, and Venus Medtech, among other companies.
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For the purpose of this study, Emergen Research has segmented the Transcatheter Mitral Valve Implantation Market on the basis of product, application, end use, and region:
Product Outlook (Revenue in Million USD; 2017-2027)
- Mechanical Valves
- Bioprosthetic Tissue (Biological) Valves
Application Outlook (Revenue in Million USD; 2017-2027)
- Mitral Valve Stenosis
- Mitral Valve Prolapse
- Mitral Valve Regurgitation
End Use Outlook (Revenue in Million USD; 2017-2027)
- Hospitals
- Ambulatory Surgical Centers
- Diagnostic Centers
- Other
Regional Outlook (Revenue in Million USD; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Middle East & Africa
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