A recent report published by Infinium Global Research on transcatheter mitral valve replacement (TMVR) market provides an in-depth analysis of segments and sub-segments in the global as well as regional transcatheter mitral valve replacement market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional transcatheter mitral valve replacement market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global transcatheter mitral valve replacement market. According to the report the global transcatheter mitral valve replacement market is projected to grow at a CAGR of 17.9% over the forecast period of 2017-2023.
The mitral valve, also known as the bicuspid valve or left atrioventricular valve, is a dual-flap valve in the heart that lies between the left atrium and the left ventricle. The mitral valve and the tricuspid valve are known collectively as the atrioventricular valves because they lie between the atria and the ventricles of the heart. The mitral valve manages blood flow between the left atrium and left ventricle, and prevents backward flow of the blood into the left atrium. Mitral regurgitation is leakage of blood backward through the mitral valve each time the left ventricle contracts. This is the most common mitral valve disorder that causes abnormal blood flow. As a remedy for this problem, surgeons use mitral surgical valve repair procedures or transcatheter replacement methods.
Figure 1: Global Transcatheter Mitral Valve Replacement Market by Value 2015-2023
Some of the key driving factors attributing to the growth of this market include an increasing number of patients with mitral valve disorders. Approximately 7 million people in the U.S. suffer from mitral regurgitation in the U.S., and they represent almost 2% of the nation's population. Similarly, approximately the same number of people suffers from the condition in Europe. This group includes 4.1 million people who have moderate to severe mitral regurgitation. The number of new patients suffering from mitral regurgitation disease added each year is 250,000. Among these 4.1 million patients, only about 20% or 1.67 million are eligible for the treatment. This creates a huge opportunity for the global transcatheter mitral valve replacement market.
In addition, increasing adoption of minimally invasive procedures over traditional surgical open heart procedures, reduction in hospital stays, low risk of infection, minimal blood loss are further propelling the market. According to the world health organization (WHO), it has been estimated that the number of people suffering from cardiovascular diseases will increase to 22.2 million by 2030. The market for TMVR is expected to reach around USD 3.0 billion by 2022. However, there are certain restraining factors which could hamper the growth of this market, which includes, high costs associated with the LMVD implantation compared to other therapies available for CVD diseases.
The report on global transcatheter mitral valve replacement market covers product segment. On the basis of product, the global transcatheter mitral valve replacement market is categorized into transapical implantation and transfemoral implantation.
The report provides regional analysis covering geographies such as Americas, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2015-2023. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2017-2023.
The report provides profiles of the companies in the global transcatheter mitral valve replacement market such as Abbott Laboratories, Edward Lifesciences Incorporation, Micro Interventional Devices, Neovasc, Medtronic, Biotronik SE & Co. KG, Colibri Heart Valve, Llc., Livanova Plc, Neochord Inc. and Coramaze Technologies Gmbh.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global transcatheter mitral valve replacement market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of transcatheter mitral valve replacement market. Moreover, the study highlights current market trends and provides forecast from 2017-2023. We also have highlighted future trends in the transcatheter mitral valve replacement market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the transcatheter mitral valve replacement market to understand the present and future trends in this market and formulate their strategies accordingly.