Mitral Valve Repair Market to Witness Significant Incremental Opportunities Generate During the COVID-19 Lockdown Phase
Mitral valve repair is a type of surgery to repair or replace the mitral valve of the heart. In the mitral valve repair techniques, the mitral valve is replaced either with a biological mitral valve that is biologically prepared from pig or cow valve or with a mechanical mitral valve that is prepared from artificial materials.
Patient’s condition decides which type of mitral heart valve is suitable for the patient. The growing prevalence of heart disease increases the patient pool demanding for better treatment and novel products. The manufacturer putting efforts to develop the innovative and novel products and technique for various medical applications and to fulfill the need of patients with heart disease.
According to the American Heart Associations, in 2017, cardiovascular disease accounts for around 800,000 deaths in the United States. More than 90 Mn Americans diagnosed with cardiovascular disease. This growing incidence of cardiovascular disease and boosting the growth of mitral valve repair market.
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In past years, the mitral valve repair and replacement treatment have evolved rapidly. The long-term results of conventional mitral valve repair or replacement surgery can be attained through minimally invasive techniques such as robotic techniques or by doing smaller incisions using endoscopes.
Currently, for patients who are at high-risk or inoperable, minimally or non-invasive transcatheter therapies are available and many other techniques are under the developmental stage. This technological advancement provides cardiac surgeon and interventional cardiologist different methods to fulfill patient’s needs.
However, lack of expertise to perform mitral valve repair or replacement surgery may hamper the global mitral valve repair market. Moreover, less clinical support and availability of cheap substitute products can also affect the mitral valve repair market growth, especially in developing regions.
Biological mitral valve gets degenerate with time and needs to get replaced frequently after a certain period of time and mechanical mitral valve cause thickening of blood due to which patient needs to take blood-thinning medication to prevent blood clots for the rest of their life. These factors may restraint the growth of global mitral valve repair market.
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The global market for mitral valve repair is segmented on basis of product type, indication type, end user and geography.
- Segmentation by Product Type
- Mechanical Valve
- Biological Valve
- Segmentation by Indication Type
- Mitral valve regurgitation
- Mitral valve stenosis
- Mitral valve prolapse
- Segmentation by End User
- Ambulatory Surgical Centers
- Specialty Clinics
Mitral valve repair is considered to be the fastest growing market which provides a huge market opportunity for existing and new market players. For developing countries, mitral valve repair technique gaining popularity from the past few years. Mitral valve repair is constantly being developed and improved. The growing aging population and increasing mitral valve disorders driving the growth of mitral valve repair market.
Additionally, introduction novel mitral valves coupled with the rising technological advancements are the other factors boosting the mitral valve repair market growth. However, strict regulations by the governing bodies restraining the mitral valve repair market growth. Moreover, the high cost of mitral valve repair surgeries and risk associated with mitral valve repair procedures also may hamper the mitral valve repair market growth.
On the basis of geography, North America mitral valve repair market will show highest mitral valve repair market growth and is expected to dominate the global mitral valve repair market in the forecast period owing to the growing prevalence of cardiovascular diseases in this region.
Also, increasing health care spending and availability of skilled surgeons and better treatments options will boost the mitral valve repair growth in this region.
The mitral valve repair market in Asia Pacific region is expected to show the highest CAGR growth in the mitral valve repair market owing larger patients pool and also due to growing awareness and demand for minimally invasive mitral valve repair treatments. However, the market for mitral valve repair in Latin America and the Middle East and Africa regions are estimated to show slow growth over the forecast period.
Examples of some of the key players present in the global mitral valve repair market are Zimmer Biomet, Integra Lifesciences Corporation, Braun Melsungen AG, Smith & Nephew, Organogenesis, Inc., Mölnlycke Health Care, Medtronic and others.
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