Transcatheter Mitral Valve Implantation Market Size to Reach USD 4.67 Million by 2027; Industry Compound Annual Growth Rate of 14.4% | Transcatheter Mitral Valve Implantation Market Trend –
The global Transcatheter Mitral Valve Implantation Market was valued at USD 1.82 billion in 2019 and is expected to reach USD 4.67 billion by 2027, at a CAGR of 14.4%, according to Emergen Research. The rising prevalence of mitral valve diseases, increasing pipeline devices, and an ageing population with heart disease are all driving the growth prospects of the Transcatheter Mitral Valve Implantation (repair and replacement) market in the forecast period. Mitral regurgitation (MR) is the most common valve disorder, affecting over 4 million people in the United States. In the United States, approximately 250,000 cases of mitral regurgitation are recorded each year, with approximately 50,000 patients deciding to undergo recommended surgery.
Transcatheter mitral valve implantation is expected to be a more long-lasting option for treating severe mitral valve regurgitation. Patients with severe primary or functional MR, as well as those who were previously eligible for annuloplasty or surgical replacement, can benefit from transcatheter mitral valve implantation (replacement). Once approved, TMVI devices may be useful in treating mitral valve stenosis. Mitral regurgitation prevalence rises with age and is higher in developed countries, whereas developing countries are more affected by rheumatic heart diseases. Furthermore, the elderly population is becoming more prone to mitral valve stenosis.
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Further key findings from the report suggest
Mitral Valve Stenosis dominates the market in 2019, with a market share of approximately 44.1%. However, the Mitral Valve Regurgitation segment in the applications outlook grew at the fastest rate of approximately 14.1% due to an increase in mitral regurgitation conditions and the expansion of potential techniques for successful surgeries.
CardioMech AS, a medical device company based in Minneapolis, is developing a transfemoral, transseptally delivered mitral valve repair technology for which it raised USD 18.5 million in August 2020 for its first-in-human feasibility trial.
In terms of market revenue, North America dominated the market in 2019. Among other encouraging scenarios, factors contributing to the largest market share (39.7%) include increasing surgical success rates, high employability of technologically advanced medical heart therapy devices, and favourable compensation policies.
Abbott Laboratories, HLT Medical, Neovasc, Edward Lifesciences, Biotronik Private Limited, LivaNova, Colibri Heart Valve, Medtronic, NeoChord, MValve Technologies, Transcatheter Technologies GmbH, and Venus Medtech are among the key market players profiled in this industry analysis.
For the purpose of this study, Emergen Research have segmented Transcatheter Mitral Valve Implantation Market on the basis of product, application, end use and region:
Product Outlook (Revenue in Million USD; 2017–2027)
- Mechanical Valves
- Bioprosthetic Tissue (Biological) Valves
Application Outlook (Revenue in Million USD; 2017–2027)
- Mitral Valve Stenosis
- Mitral Valve Prolapse
- Mitral Valve Regurgitation
End Use Outlook (Revenue in Million USD; 2017–2027)
- Ambulatory Surgical Centers
- Diagnostic Centers
Regional Outlook (Revenue in Million USD; 2017–2027)
- North America
- Rest of the Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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