Transcatheter Mitral Valve Market is projected to reach a valuation of US$ 933.9 Mn by 2022 | FMI
[250 Pages Report] As per the latest industry analysis by Future Market Insights, valuation of the global transcatheter mitral valve market was around US$ 831.1 Mn in 2021 and is projected to exhibit a CAGR of 13.5% over the forecast period. The market is expected to reach US$ 3.3 Bn in 2032.
Following the success and widespread use of transcatheter aortic valve replacement (TAVR), physician-investigators have turned their attention to percutaneous replacement of a diseased mitral valve (MV).
|Global Transcatheter Mitral Valve Market Estimated Size (2022E)||US$ 933.9 Mn|
|Projected Market Valuation (2032F)||US$ 3.3 Bn|
|Value-based CAGR (2022-2032)||13.5%|
|Collective Value: Top 5 Countries (2021E)||80.1%|
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However, while transcatheter aortic valve replacement (TAVR) has already established itself as the gold standard for treatment of aortic stenosis (AS) in patients who are at high risk for conventional surgery, transcatheter mitral valve replacement (TMVR) is yet to reach the same level.
MV disease is more frequent than AS, and surgical treatment for degenerative mitral regurgitation is still considered to be the gold standard. TMVR may evolve as a promising treatment alternative for patients with high surgical risk who are denied surgery and for whom medical therapy is insufficient.
Transcatheter mitral valve repair is a rapidly developing field that has the potential to be embraced as a viable alternative to surgery among certain patients. The targeted section of MV apparatus helps to recognize TMVR devices.
Need to transform a transapical treatment to a fully transcatheter (transfemoral and transeptal) procedure is set to surge in the upcoming decade on the back of rising number of preclinical programs under development.
Transcatheter therapies will need to follow stringent indications due to strict patient selection criteria for each device or use multiple procedures in a single repair process for severe MV disease to attain outcomes comparable to open surgery in degenerative mitral regurgitation.
Owing to the above-mentioned factors, the global transcatheter mitral valve market is set to gain traction among industry players.
Key Takeaways: Transcatheter Mitral Valve Market
- By product, the transcatheter mitral valve repair segment held approximately 4% of share in 2021 and is anticipated to lead in 2022-2032.
- Based on indication, the mitral regurgitation segment generated a transcatheter mitral valve market share of around 1% in 2021.
- By end user, the hospitals segment is expected to dominate the transcatheter mitral valve market with a projected CAGR of 6% during the forecast period.
- North America transcatheter mitral valve market generated a share of around 9% in 2021.
- Germany held a market share of about 2% in 2021 and is likely to remain at the forefront in the Europe transcatheter mitral valve market.
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“Development of unique transcatheter mitral valve products and growing advancements in the field of degenerative mitral regurgitation are expected to push the global transcatheter mitral valve market in the forecast period,” says an analyst of Future Market Insights.
Competitive Landscape: Transcatheter Mitral Valve Market
The transcatheter mitral valve market is consolidated with the presence of various established players across the globe. Key players are enforcing clinical evaluations of pipelined products to strengthen their market positions. They are also investing huge sums in research and development activities to generate more revenues in the global market.
- In March 2022, Edwards Lifesciences received approval from the U.S. Food and Drug Administration (FDA) for its MITRIS RESILIA valve. It is a tissue valve replacement which is specifically designed for the heart’s mitral position.
- In April 2020, Abbott received the CE Mark approval for its Tendyne Transcatheter Mitral Valve Implantation System and TriClip Transcatheter Tricuspid Valve Repair System under its structural heart device portfolio.
More Valuable Insights on Transcatheter Mitral Valve Market
Future Market Insights offers a unique perspective and actionable insights on the transcatheter mitral valve market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on product (transcatheter mitral valve replacement and transcatheter mitral valve repair), indication (mitral stenosis and mitral regurgitation), and end user (hospitals, ambulatory surgical centers, and cardiac catheterization laboratories) across seven key regions of the world.
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Transcatheter Mitral Valve Market Outlook by Category
- Transcatheter Mitral Valve Replacement
- Transcatheter Mitral Valve Repair
- Mitral Stenosis
- Mitral Regurgitation
By End User:
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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