Transcatheter Mitral Valve Market is projected to reach US$ 3.3 Billion by 2032 at a CAGR of 13.5 %
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.
Doctor-investigators are focusing on percutaneous replacement of a damaged mitral valve in light of the transcatheter aortic valve replacement (TAVR) procedure’s effectiveness and wide use (MV).
Transcatheter aortic valve replacement (TAVR) has already made a name for itself as the gold standard for treating aortic stenosis (AS) in patients who are at high risk for conventional surgery, but transcatheter mitral valve replacement (TMVR) hasn’t quite reached that status yet.
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Surgical treatment for degenerative mitral regurgitation is still regarded as the gold standard even though MV disease is more common than AS. For patients with high surgical risk who are refused surgery and for whom medicinal therapy is insufficient, TMVR may develop as a promising treatment alternative.
In some patients, the rapidly evolving field of transcatheter mitral valve replacement may be accepted as an effective alternative to surgery. The targeted area of the MV equipment aids in the identification of TMVR devices. The need to convert a transapical procedure to a completely transcatheter (transfemoral and transeptal) one is expected to increase over the next ten years as more preclinical programmes are developed.
To achieve outcomes comparable to open surgery in degenerative mitral regurgitation, transcatheter therapies will need to adhere to rigorous indications due to strict patient selection criteria for each device or use numerous procedures in a single repair process for severe MV disease. The global transcatheter mitral valve market is anticipated to grow among companies in the sector as a result of the aforementioned causes.
Key Takeaways: Transcatheter Mitral Valve Market
- By product, the transcatheter mitral valve repair segment held approximately 85.4% 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 83.1% in 2021.
- By end user, the hospitals segment is expected to dominate the transcatheter mitral valve market with a projected CAGR of 13.6% during the forecast period.
- North America transcatheter mitral valve market generated a share of around 55.9% in 2021.
- Germany held a market share of about 9.2% 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.
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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.
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
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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