According to Future Market Insights’ most recent industry analysis, the global Transcatheter Mitral Valve Market was valued at around US$ 831.1 Mn in 2021 and is expected to grow at a CAGR of 13.5% during the forecast period. In 2032, the market is expected to be worth US$ 3.3 billion.
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Following the success and widespread use of transcatheter aortic valve replacement (TAVR), physician-investigators are now focusing on percutaneous replacement of a diseased mitral valve (MV).
While transcatheter aortic valve replacement (TAVR) has already established itself as the gold standard for treating aortic stenosis (AS) in patients who are at high risk for conventional surgery, transcatheter mitral valve replacement (TMVR) has yet to achieve the same level.
MV disease is more common than AS, and surgical treatment for degenerative mitral regurgitation remains the gold standard. TMVR could become a promising treatment option for patients with high surgical risk who are denied surgery and whose medical therapy is ineffective.
Transcatheter mitral valve repair is a rapidly evolving field that has the potential to be accepted as a viable alternative to surgery in some patients. The targeted section of the MV apparatus aids in the identification of TMVR devices.
The need to convert a transapical treatment to a fully transcatheter (transfemoral and transeptal) procedure is expected to increase in the coming decade due to an increase in the number of preclinical programmes in development.
To achieve outcomes comparable to open surgery in degenerative mitral regurgitation, 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.
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
- Transcatheter mitral valve repair held approximately 85.4% of the market share in 2021 and is expected to lead in 2022-2032.
- In 2021, the mitral regurgitation segment generated a transcatheter mitral valve market share of approximately 83.1% based on indication.
- With a projected CAGR of 13.6% during the forecast period, the hospitals segment is expected to dominate the transcatheter mitral valve market.
- In 2021, the North American transcatheter mitral valve market is expected to generate a share of around 55.9%.
- Germany held a 9.2% market share in 2021 and is expected to remain at the forefront of the European 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 global transcatheter mitral valve market is consolidated, with numerous established players present. To strengthen their market positions, key players are requiring clinical evaluations of pipelined products. They are also investing heavily in research and development in order to increase their revenue in the global market.
- The US Food and Drug Administration (FDA) approved Edwards Lifesciences’ MITRIS RESILIA valve in March 2022. It is a tissue valve replacement that is specifically designed for the mitral position of the heart.
- Abbott received CE Mark approval for its structural heart device portfolio Tendyne Transcatheter Mitral Valve Implantation System and TriClip Transcatheter Tricuspid Valve Repair System in April 2020.
More Valuable Insights on Transcatheter Mitral Valve Market
In its latest study, Future Market Insights provides a unique perspective and actionable insights on the transcatheter mitral valve market, presenting a historical demand assessment from 2017 to 2021 and projections from 2022 to 2032.
The study is divided into seven key regions of the world based on product (transcatheter mitral valve replacement and transcatheter mitral valve repair), indication (mitral stenosis and mitral regurgitation), and end user (hospitals, ambulatory surgical centres, and cardiac catheterization laboratories).
Transcatheter Mitral Valve Market Outlook by Category
By Product:
- Transcatheter Mitral Valve Replacement
- Transcatheter Mitral Valve Repair
By Indication:
- Mitral Stenosis
- Mitral Regurgitation
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
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About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business.
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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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