Rising prevalence of pulmonary valvular heart diseases, increasing geriatric population and increasing healthcare expenditure are some key factors expected to drive global market revenue growth.
Rising prevalence of pulmonary valvular heart diseases, increasing geriatric population and increasing healthcare expenditure are some key factors expected to drive global market revenue growth
Market Size – USD 1.82 Billion in 2019, Market Growth – at a CAGR of 14.4%, Market Trend – Increasing application of transcatheter mitral valve implantation to treat high-risks patients
Emergen Research has published its latest report titled, “Transcatheter Mitral Valve Implantation Market Analysis, By Product (Mechanical Valves & Bioprosthetic Tissue (Biological) Valves), By Application (Mitral Valve Stenosis, Mitral Valve Prolapse, Mitral Valve Regurgitation), By End Use (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Others), and Region Forecasts to 2027”
According to Emergen Research, the global transcatheter mitral valve implantation market size was USD 1.82 billion in 2019 and is expected to reach USD 4.67 billion in 2027 and register a revenue CAGR of 14.4% during the forecast period, 2020-2027.
Market Dynamics:
Mitral valve disease is a condition where valve stops functioning, resulting in irregular blood flow. The three commonly encountered mitral valve diseases are mitral regurgitation, mitral valve prolapses, and mitral stenosis. Transcatheter mitral valve implantation is a minimally invasive heart procedure used to replace damaged, narrowed aortic valves and is a preferred alternative to open-heart valve surgeries.
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Transcatheter mitral valve implantation procedure is rapidly gaining popularity across the globe owing to increasing prevalence of mitral regurgitation and mitral stenosis and availability of advanced transcatheter mitral valve implantation procedures. Other factors such as improving healthcare infrastructure, government initiatives to create awareness about mitral valve diseases and treatment availability, and favorable reimbursement scenarios are expected to continue driving global market revenue growth.
In addition, increasing focus on developing advanced devices and tools for transcatheter mitral valve replacement, rising demand for minimally invasive procedures for high-risk patients, and rising investments in research and development activities are expected to boost market revenue growth going ahead. However, risks associated with transcatheter mitral valve implantation procedures, high cost of these procedures, and unavailability of latest equipment and skilled healthcare professionals in developing countries are factors that could hamper overall market growth over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Mitral Valve Regurgitation Segment to Register Steady Revenue Growth:
The mitral valve regurgitation segment is expected to register steady revenue growth between 2020 and 2027 owing to rising cases of mitral valve regurgitation, growing elderly population, and availability of advanced treatment options in many medium to large scale hospitals.
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Hospital Segment to Account for Largest Revenue Share:
The hospital segment is expected to account for largest revenue share over the forecast period. Increasing prevalence of mitral valve diseases, availability of latest equipment and procedures and presence of skilled professionals in most hospitals, and rising disposable income are key factors expected to drive revenue growth of the segment during the forecast period.
North America to Lead in Terms of Revenue Share:
North America is expected to dominate other regional markets in the global market in terms of revenue share during the forecast period owing to high prevalence of heart valve disorders, presence of well-developed healthcare infrastructure, availability of technologically advanced medical heart therapy devices, and increasing awareness about mitral valve diseases and available treatment. In addition, increasing number of transcatheter aortic valve implantation centers across the region, favorable reimbursement policies, high healthcare spending, and increasing investments in research and development activities are expected to fuel North America market growth going ahead.
Major Companies in the Market Include:
- Abbott Laboratories
- HLT Medical
- Neovasc Inc.
- Edward Lifesciences
- Biotronik Private Limited
- LivaNova
- Colibri Heart Valve LLC
- Medtronic
- NeoChord
- MValve Technologies Ltd.
- Transcatheter Technologies GmbH
- Venus MedTech
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For the purpose of this study, Emergen Research have segmented the global transcatheter mitral valve implantation market on the basis of product, application, end use and region:
Product Outlook (Revenue in Billion USD; 2017–2027)
- Mechanical Valves
- Bioprosthetic Tissue (Biological) Valves
Application Outlook (Revenue in Billion USD; 2017–2027)
- Mitral Valve Stenosis
- Mitral Valve Prolapse
- Mitral Valve Regurgitation
End Use Outlook (Revenue in Billion USD; 2017–2027)
- Hospitals
- Ambulatory Surgical Centers
- Diagnostic Centers
- Other
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Regional Outlook (Revenue in Billion USD; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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