The global market for Transcatheter Mitral Valve Repair Devices was found to be USD 1,197.06 million in 2022 and is expected to attain USD 2,756.71 million by 2028, growing at a 14.95% CAGR during 2023–2028. This growth is driven by rising cases of heart valve diseases like mitral valve stenosis, prolapse, and regurgitation. Additionally, the increasing incidence of cardiovascular conditions such as coronary artery disease, myocardial infarction, and congestive heart failure, coupled with ongoing innovation and frequent product launches, propel the market’s expansion. Among the notable companies Transcatheter Mitral Valve Repair Devices market are Abbott, Edwards Lifesciences Corporation, Shockwave Medical Inc., LivaNova PLC, NeoChord Inc., Coramaze Technologies, CryoLife Inc., Auto Tissue Berlin GmbH, Medtronic, Boston Scientific Corporation, JenaValve Technology Inc., and various others.
DelveInsight’s “Transcatheter Mitral Valve Repair Devices (TMVRDs) Market Insight, Competitive Landscape, and Market Forecast 2028” research report provides the current and forecasted Transcatheter Mitral Valve Repair Devices Market size, share, and trends analysis for the next five years. Moreover, it highlights the ongoing innovations in the segment, major market drivers & barriers, key competitors, and emerging devices in the domain.
Transcatheter Mitral Valve Repair Devices (TMVRDs) Market: Overview
TMVRDs are sophisticated medical devices designed to treat mitral valve disorders through minimally invasive procedures. Unlike traditional open-heart surgeries, these devices are introduced into the heart through catheters, thereby avoiding the need for major surgical incisions. The primary objective of TMVRDs is to repair or replace the malfunctioning mitral valve, which is crucial for maintaining proper blood flow between the heart’s chambers.
Benefits of Transcatheter Mitral Valve Repair Devices
- Minimally Invasive Approach: TMVRDs offer patients a minimally invasive alternative to open-heart surgeries, reducing recovery times, hospital stays, and overall trauma to the body.
- Effective Treatment: These devices provide an effective means of addressing mitral valve issues, restoring proper heart function, and alleviating symptoms associated with mitral valve disorders.
- Reduced Risks: Compared to traditional surgeries, TMVRDs can potentially lower the risks of complications, infections, and post-operative issues.
- Improved Quality of Life: By restoring proper heart function, TMVRDs can significantly enhance a patient’s quality of life, alleviating symptoms such as shortness of breath and fatigue.
Applications of Transcatheter Mitral Valve Repair Devices
- Mitral Valve Regurgitation: TMVRDs are primarily used to treat mitral valve regurgitation, a condition where the valve doesn’t close properly, leading to blood leakage.
- High-Risk Patients: These devices offer a viable treatment option for patients deemed high-risk for conventional open-heart surgeries due to age or underlying health conditions.
- Avoiding Complex Surgeries: TMVRDs provide a solution for individuals who may not be suitable candidates for complex surgical procedures, providing a less invasive alternative.
- Advancing Treatment Options: Continual advancements in TMVRD technology are expanding treatment possibilities, potentially broadening their applications to a wider range of cardiac conditions.
To provide a better understanding of the market dynamics, DelveInsight’s “Transcatheter Mitral Valve Repair Devices Market” report provides a detailed assessment by product (Mechanical Valve and Bioprosthetic Tissue Valve), Indication (Mitral Valve Regurgitation, Mitral Valve Stenosis, and Others), End-User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)
The bioprosthetic tissue valve category within the Transcatheter Mitral Valve Repair Devices market is anticipated to gain significant revenue share. This is attributed to its advantages and the rising prevalence of mitral valve regurgitation cases. Bioprosthetic valves, also known as heterografts, typically consist of stented or stentless porcine or bovine tissue valves commonly used in clinical settings. They offer higher efficacy compared to mechanical valves, and a key benefit is the reduced need for lifelong warfarin therapy due to lower thrombotic risks.
Moreover, the escalating number of product launches, approvals, and strategic initiatives are poised to significantly drive the demand for bioprosthetic tissue valve devices. These activities not only enhance market accessibility but also foster innovation, promote technological advancements, and expand the options available to healthcare professionals and patients seeking effective mitral valve regurgitation treatments. As the market continues to evolve with these developments, the growth trajectory for bioprosthetic tissue valves is expected to remain robust.
The expanding demand for Transcatheter Mitral Valve Repair Devices is attributed to several factors, notably the surging prevalence of heart valve diseases. Among these, conditions like mitral valve stenosis, prolapse, and regurgitation are key contributors driving the need for effective treatment options within the market. In 2023, the British Heart Foundation (BHF) reported that approximately 550 million individuals worldwide had heart and circulatory diseases in 2022 due to evolving lifestyles, aging, and population growth. Moreover, the World Health Organization (WHO) in 2020 reported a global prevalence of 9 million cases of calcific aortic valve stenosis. Additionally, according to John Muir Health statistics from 2020, approximately 1.5 million individuals in the United States were affected by aortic stenosis, with 500,000 of these cases classified as severe aortic stenosis. As the incidence of these cardiac ailments continues to rise, the demand for advanced solutions like Transcatheter Mitral Valve Repair Devices remains on an upward trajectory.
The burgeoning preference among patients for minimally invasive procedures is expected to significantly favor market expansion in the projected period. Transcatheter Mitral Valve Repair Devices present several advantages compared to traditional surgeries due to their minimally invasive nature. These include accelerated recovery times, reduced post-operative discomfort, shorter hospital stays, decreased risk of wound complications, and enhanced prosthetic wound healing. This trend towards less invasive approaches is anticipated to be a pivotal driver for the market’s growth trajectory.
Moreover, the continuous influx of new product launches and regulatory approvals is poised to exert a favorable influence on the market landscape. These developments not only broaden the array of available options but also signify ongoing advancements and innovation within the industry. As the market expands with these introductions, it is expected to experience a notable upsurge, offering enhanced solutions and possibilities for healthcare providers and patients alike.
Nevertheless, factors such as potential risks linked to transcatheter mitral valve repair procedures and other limitations could impede the market’s growth for these devices. These concerns might encompass specific procedural risks, safety considerations, technological constraints, and other factors that may hamper the pace of market expansion.
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North America is anticipated to hold the largest market share in the Transcatheter Mitral Valve Repair Devices sector among all regions. This dominance is attributed to several factors, including the increasing prevalence of heart valve disorders such as mitral valve stenosis, prolapses, and regurgitation. Additionally, the region experiences a surge in cardiovascular diseases like strokes and coronary artery diseases, contributing to the escalating demand for Transcatheter Mitral Valve Repair Devices. Furthermore, the growing demographic of elderly individuals prone to cardiovascular conditions is a significant driver propelling the North American market for these devices, foreseeing a promising trajectory of growth.
Furthermore, the market’s growth will be bolstered by the increasing number of product approvals and launches, along with continuous technological advancements. These developments, combined with the aforementioned factors, are anticipated to fuel the expansion of the Transcatheter Mitral Valve Repair Devices market. Moreover, the strategic initiatives and planned endeavors undertaken by key industry players are expected to play a pivotal role in driving market growth, fostering innovation, and enhancing accessibility to these devices.
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Over the years, the Transcatheter Mitral Valve Repair Devices Market has evolved significantly, owing to the active participation of the global MedTech companies and technological advancements in the domain. Similarly, several clinical, commercial, and regulatory developments have also been registered in the domain. Some of the major advancements in the Transcatheter Mitral Valve Repair Devices Market in recent years include –
- In January 2023, Shockwave Medical, Inc., acquired Neovasc Inc., a company focused on the minimally invasive treatment of refractory angina, which is a chronic condition wherein a patient suffers chest pain that cannot be controlled by conventional therapies.
- In January, 2022, Artivion, Inc. declared the results of PROACT clinical trial with the title “Low-Dose Versus Standard Warfarin After Mechanical Mitral Valve Replacement: A Randomized Controlled Trial” in the Annals of Thoracic Surgery, the official journal of The Society of Thoracic Surgeons.
- In September 2022, Edwards Lifesciences Corporation announced the company’s PASCAL Precision transcatheter valve repair system for transcatheter edge-to-edge repair (TEER) has received FDA approval for the treatment of patients with degenerative mitral regurgitation (DMR). The PASCAL Precision system, with its independent grasping, atraumatic clasp and closure, and ability to elongate, enables safe and effective treatment for patients with DMR. Engineered with an intuitive catheter and handle, the system is designed for maneuverability and stability, enabling precise navigation and implant delivery.
- In November 2021, ReValve Solutions, Inc., a company operating in the field of transcatheter structural heart replacement and repair, announced the successful first human use of its transcatheter, Palmetto System, for mitral valve replacement. It treated the patient successfully who suffered from severe mitral valve regurgitation and heart failure.
- In September 2021, Abbott received US FDA approval for Epic Plus and Epic Plus Supra Stented Tissue Valves to improve therapy options for people suffering from aortic or mitral valve disease.
- In January 2020, Abbott received CE Mark for its Tendyne Transcatheter Mitral Valve Implantation (TMVI) system for the treatment of mitral regurgitation (MR) in patients requiring a heart valve replacement and provides a safer option for candidates not willing to opt for open-heart surgery or transcatheter mitral valve repair.
- In March 2019, the US Food and Drug Administration (FDA) approved MitraClip, developed by Abbott. The device is used as a heart valve repair device that was intended to reduce moderate-to-severe or even severe mitral regurgitation. It is a minimally invasive medical procedure and takes only 1-3 hours.
Learn more about major clinical and commercial development in the market @ Transcatheter Mitral Valve Repair Devices Market – Clinical and Commercial Development Activities
Companies play a pivotal role in the global Transcatheter Mitral Valve Repair Devices Market, driving innovation, research, and product development to meet the ever-evolving demands of healthcare. On a global scale, prominent players in the Transcatheter Mitral Valve Repair Devices Market encompass esteemed MedTech giants such as Abbott, Edwards Lifesciences Corporation., Shockwave Medical, Inc., LivaNova PLC, NeoChord, Inc., Coramaze Technologies, CryoLife, Inc., Auto Tissue Berlin GmbH., Medtronic, Boston Scientific Corporation, JenaValve Technology, Inc., and many others. These companies are at the forefront of advancing technology and medical solutions, continually striving to enhance the safety and efficacy of Transcatheter Mitral Valve Repair Devices.
Learn how new players’ entries will transform the market dynamics in the coming years @ Transcatheter Mitral Valve Repair Devices’s Competitive Landscape
Scope of the Transcatheter Mitral Valve Repair Devices Market Report:
- Study Period – 2020-2028
- Geography Covered – North America, Europe, Asia-Pacific, and Rest of the World
- Transcatheter Mitral Valve Repair Devices Market Assessment by –
- Product – Mechanical Valve and Bioprosthetic Tissue Valve
- Indication – Mitral Valve Regurgitation, Mitral Valve Stenosis, and Others
- End-User – Hospitals & Clinics, Ambulatory Surgical Centers, and Others
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s Views
Table of Content
|Regulatory and Patent Analysis
|Transcatheter Mitral Valve Repair Devices Market Key Factors Analysis
|Transcatheter Mitral Valve Repair Devices Porter’s Five Forces Analysis
|COVID-19 Impact Analysis on the Transcatheter Mitral Valve Repair Devices Market
|Transcatheter Mitral Valve Repair Devices Market Layout
|Transcatheter Mitral Valve Repair Devices Global Company Share Analysis – Key 3–5 Companies
|Transcatheter Mitral Valve Repair Devices Product Profiles and Key Companies
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