Transcatheter mitral valve repair and replacement is a minimal-invasive technique for the treatment of asymptomatic chronic moderate to severe or severe mitral regurgitation (MR).
Mitral valve is positioned between two left chambers of the heart. It aids by keeping the blood flow properly in one direction-from the left atrium to the left ventricle and avoids it from flowing backward. Mitral valve replacement is performed when the valve becomes too tight for the blood to flow into the left ventricle.
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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Growth in geriatric population and rise in mitral valve disorders drive the market growth.
In addition, technological advancements coupled with the introduction novel mitral valves are the other factors that drive the market growth. The major restraint observed for this market is the strict regulations by the governing bodies as well as high cost of mitral valve surgeries and high risk associated with these procedures. Moreover, rise in healthcare expenditure and emergence in developing countries will create lucrative opportunities for key market players.
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The tanscatheter mitral valve repair & replacement market was valued at $324 million (excluding the revenue from replacement valves) in 2021, and is expected to reach at $1,878 million (both repair and replacement valves) by 2026, registering a CAGR of 30.0% from 2021 to 2026.
The tanscatheter mitral valve replacement (TMVR) market is segmented based on product, indication, and region. Based on product, the market is bifurcated into mechanical valves and bioprosthetic tissue (biological) valves. Based on indication, the market is classified into mitral valve stenosis, mitral valve prolapse, and mitral valve regurgitation. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global tanscatheter mitral valve repair & replacement market, with current trends and future estimations to elucidate the imminent investment pockets.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
Comprehensive quantitative analysis of the industry from 2016 to 2023 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the key segments of the industry helps understand the type of products and technologies used globally.
Key market players and their strategies are provided to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
Bioprosthetic Tissue (Biological) Valves
Mitral Valve Stenosis
Mitral Valve Prolapse
Mitral Valve Regurgitation
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Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY PLAYERS PROFILED
Biotronik Pvt Ltd
Colibri Heart Valve, LLC
Coramaze Technologies GmbH
The other players in the value chain include (profiles not included in the report)
Transcatheter Technologies GmbH
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The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
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This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.
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Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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