The Transcatheter Mitral valve replacement market accounted for US$ 0.92 billion in 2020 and is estimated to be US$ 14.5 billion by 2030 and is anticipated to register a CAGR of 31.4%.Mitral valve dysfunction happens when the valve does not function properly, causing irregular blood flow. This irregular blood flow causes two diseases: mitral valve prolapse and regurgitation. The mitral valve is located between the left atrium and the left ventricle. For patients who are unable or unwilling to undergo surgery, transcatheter mitral valve replacement (TMVR) has emerged as an alternative treatment option. Transcatheter mitral valve replacement provides excellent hemodynamic efficiency with a low rate of residual mitral regurgitation and low transvalvular gradients.
The report " Transcatheter Mitral valve Replacement Market, By Product (mechanical valve and Bioprosthetic tissue valve), By Diagnostic test (lateral flow assay, PCR assay, latex Agglutination tests),By End-user (hospital, clinics and others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030”
Key Highlights:
· In March 2019, the U.S. Food and Drug Administration extended and approved MitraClip's recommendations for treating functional (secondary) mitral regurgitation.
· In Aug 2020, CardioMech AS, a medical device company based in Minneapolis, is working on a transfemoral, transseptally delivered mitral valve repair technology
Analyst View:
Because of increasing incidences of mitral valve diseases, new pipeline devices, and an ageing population with heart disorders, demand for Transcatheter Mitral Valve Implantation (repair and replacement) is projected to grow at a healthy pace during the forecast era. Due to an increase in the geriatric population and an increase in mitral valve disorders, Technological advancements and the introduction of new mitral valves are two other factors that lead to market development. In terms of safety and efficacy, these interventions are proving to be beneficial for patients who are at risk of developing mitral valve disease.
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Key Market Insights from the report:
The Transcatheter Mitral valve replacement market accounted for US$ 0.92 billion in 2020 and is estimated to be US$ 14.5 billion by 2030 and is anticipated to register a CAGR of 31.4%. The Transcatheter Mitral valve replacement Market is segmented based on the product, application, end-use and region.
· By product, the Transcatheter mitral valve replacement Market is segmented into mechanical valves and Bioprosthetic tissue valves.
· By Application, the Transcatheter mitral valve replacement Market is segmented into mitral valve stenosis, mitral valve prolapse and mitral valve Regurgitation.
· By End-use, the market is segmented into hospitals, ambulatory surgical centers, diagnostic centers and others.
· By region, the Transcatheter mitral valve replacement Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape:
The key players operating in the Transcatheter Mitral valve replacement market includes Abbott Laboratories, Biotronik Pvt Ltd, Colibri Heart Valve, LLC, Edward Lifesciences, HLT Medical, LivaNova Plc, Medtronic Plc, Neovasc Inc., NeoChord, Venus Medtech, Transcatheter Technologies GmbH, MValve Technologies and Mardil Medical.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
