The Percutaneous Mitral Valve Repair Devices Market to croon growth from 2020 to 2030
Mitral valve is located in the heart between left atrium and left ventricle that helps to restrict the flow of blood back into the left atrium, helping in the normal blood flow. Percutaneous mitral valve repair devices are the instrument that can help in the treatment of mitral value disease. Percutaneous mitral valve repair devices can be made by overall replacement of the mitral valve or by minimal invasive procedures. Minimal invasive procedures for percutaneous mitral valve repair devices reduce cost and increases the workflow of the technicians. Percutaneous mitral valve repair devices help to identify the pathological site of the defective mitral value. The incorporation of minimal invasive procedure using percutaneous mitral valve repair devices over the traditional open brain surgeries, is also propelling the demand of the percutaneous mitral valve repair devices market. The percutaneous mitral valve repair devices have the potential to treat the pathological mitral valve part by increasing navigating without line of sight.
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The major driving factor for percutaneous mitral valve repair devices market is rising prevalence of chronic cardiovascular diseases. The mitral regurgitation is a major cardiac disease affecting most of the cardiac patients. People in the U.S and European countries, more than 4 million are suffering with the mitral regurgitation disease. The increasing prevalence of mitral valve disease will boost the growth of percutaneous mitral valve repair devices. The increase in number of minimal invasive surgeries to treat mitral valve repairement have bought the doctors to focus more on mitral valve repair devices, which is cost effective and provides real time navigation. The emerging demand for percutaneous mitral valve repair devices is largely arising due to the increased tourism for seeking medical treatment. Moreover, the rise in number of elderly people, having high risk of main chronic cardiovascular diseases will also help percutaneous mitral valve repair devices market to grow. However, lack of skilled surgeon can hamper the percutaneous mitral valve repair devices market growth. Also, the percutaneous mitral valve repair devices using electromagnetic waves can interfere with other electric devices like cell phones, and can produce heat which can be harmful for mitral valve repair medical devices. This can restrain the percutaneous mitral valve repair devices market.
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The global Percutaneous mitral valve repair devices market is segmented on the basis of Device type, Procedure, Application, and End User.
- Percutaneous Mitral Valve Repair Devices Market Segmentation by Device Type
- Mitral valve replacement devices
- Mitral valve repair devices
- Percutaneous Mitral Valve Repair Devices Market Segmentation by Procedure Type
- Percutaneous Mitral Valve Repair Devices Market Segmentation by Application
- Mitral valve regurgitation
- Mitral valve stenosis
- Percutaneous Mitral Valve Repair Devices Market Segmentation by End User
- Ambulatory Surgical Centers
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The global percutaneous mitral valve repair devices is majorly dominated by mitral valve repair devices among application segment. As the prevalence of the chronic cardiovascular diseases is increasing, the cardiac surgeries have also increased over the time. Also, increasing adoption of percutaneous mitral valve repair devices will contribute in the market growth. Based on procedure, valvuloplasty catches the highest revenue as the condition is more common inn mitral valve diseases. Among the application, mitral value regurgitation holds the largest share as the prevalence of disease is more on developed nations. Hospitals generate largest revenue share in percutaneous mitral valve repair devices market as the hospitals use advanced technology medical devices for patient care that also reduces cost by reducing hospital visits. Also, percutaneous mitral valve minimal invasive repair devices target the desired location, making it a selective procedure for minimal invasive surgeries.
Geographically, the global percutaneous mitral valve repair devices market is segmented into regions such as Latin America, Europe, North America, South Asia, East Asia Middle East & Africa and Oceania. North America is projected to emerge as prominent market in the global percutaneous mitral valve repair devices market due to increasing prevalence of cardiovascular diseases. Also, higher adoption of minimally invasive procedures leads the percutaneous mitral valve repair devices. Moreover, rising geriatric population in developed nations and unhealthy lifestyle also drives the growth of percutaneous mitral valve repair devices market. Percutaneous mitral valve repair devices market in the south Asia and East Asia is expected to grow substantially due to the increasing healthcare expenditure and technological advancements in healthcare. Europe is expected to hold prominent share in the global percutaneous mitral valve repair devices market throughout the study period owning to higher inclination towards minimally invasive surgery. The growing number of cardiac surgeries in developed nations will also lead the growth of percutaneous mitral valve repair devices market.
Some of the major key players competing in the global percutaneous mitral valve repair devices market are Medtronic, St. Jude Medical, and Sorin Group, Abbott Laboratories, Accellent Inc., Admedes Schuessler GmbH, AorTech International, Arbor Surgical Technologies, Inc., AutoTissue GmbH, Boston Scientific, CryoLife, Inc., Colibri Heart Valve, LLC, Micro Interventional Devices, Inc., Neovasc, Inc., JenaValve Technology
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