Transcatheter Mitral Valve Repair (TMVR) Market Size by Segments, Share, Regulatory, Reimbursement, Procedures and Forecast to 2033
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Transcatheter Mitral Valve Implantation (TMVR) Market Report Overview
The transcatheter mitral valve implantation (TMVR) market was valued at $1.22 billion in 2023. The TMVR market will experience strong growth at a CAGR of more than 15% from 2023 to 2033. Transcatheter Mitral Valve Repair (TMVR) devices are used for minimally invasive treatment of mitral regurgitation (MR).
TMVR Market Outlook 2023-2033 ($ Billion)
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The TMVR market research report explains the market behavior, which will help identify quantitative market trends within the cardiovascular devices therapeutic area. The report has extensively covered regional-wise quantitative data, highlighting the number of TMVRs across labs, which will help in identifying untapped market opportunities. The model also discusses the detailed impact of COVID-19 on the TMVR market for 2020 and beyond.
Market Size (2023) | $1.22 billion |
CAGR (2023-2033) | >15% |
Historic Period | 2015-2023 |
Forecast Period | 2023-2033 |
Key Regions |
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Key Companies |
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TMVR Market Dynamics
The TMVR market has been growing steadily with expanding indications, positive clinical trial results, and many products in development. The TMVR market will continue to grow as clinical trials continue to prove the safety and efficacy of TMVR devices and their advantages over open surgery for MR. Currently, Abbott Laboratories has a strong advantage in the market having the only currently FDA-approved device.
Abbott has been fortunate to be the sole provider of TMVR products for many years, and will therefore always be considered the gold standard for TMVR therapy. As more and more companies either expand their existing devices to the US or bring their new devices to market, competition will increase which will further boost the market. If clinical trials are unable to show significant positive results due to the complexity of MR and mitral valve anatomy, then the TMVR market may plateau once the high-surgical-risk patient pool is saturated.
TMVR Market Segmentation by Regions
The key regions in the TMVR market are Asia-Pacific, Europe, the Middle East and Africa, North America, and South and Central America. In 2023, North America had the largest share of the TMVR market. The North American TMVR market will witness consistent growth over the years due to the growing aging population and the high prevalence of mitral regurgitation.
TMVR Market Analysis by Regions, 2023 (%)
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TMVR Market – Competitive Landscape
The key companies in the TMVR market are Abbott Laboratories, Edwards Lifesciences Corp, and among others. In 2023, Abbott Laboratories accounted for the highest TMVR market share and value.
TMVR Market Analysis by Companies, 2023 (%)
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Segments Covered in this Report
TMVR Regional Outlook ($ Billion, 2015-2033)
- Asia-Pacific
- Europe
- Middle East and Africa
- North America
- South and Central America
Key Inclusions of the market model are:
Currently marketed TMVR market and evolving competitive landscape:
- Insightful review of the key industry trends.
- Annualized total TMVR market revenue by segment and market outlooks from 2015-2033.
- Market-level data on units, average selling prices, and market values.
Global, Regional, and Country level market specific insights:
- Qualitative market-specific information is available with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
- SWOT analysis for the TMVR market.
- Competitive dynamics insights and trends provided for the TMVR market.
Understand the market by getting the veritable big picture including an overview of the healthcare system. In addition, the Market Access segment allows you to delve deeper into market dynamics with information on reimbursement policies and the regulatory landscape.
- Country-specific overview of the healthcare system.
- Country-specific reimbursement policies.
- Country-specific medtech regulatory landscape.
Robust methodologies and sources enable the model to provide an extensive and accurate overview of the market. Demand and supply-side primary sources are integrated within the syndicated models, including Key Opinion Leaders. In addition, real-world data sources are leveraged to determine market trends; these include government procedure databases, hospital purchasing databases, and proprietary online databases.
Companies covered: Abbott Laboratories, and Edwards Lifesciences Corp.
Countries covered: United States, United Kingdom, Germany, France, Italy, Spain, Brazil, China, India, Russia, Japan, Australia, Canada, Mexico, South Korea, Denmark, Ireland, Netherlands, New Zealand, South Africa, Sweden, Switzerland, Austria, Belgium, Finland, Israel, Norway, Poland, Portugal, Taiwan, Czech Republic, Greece, Hungary, Turkey, Egypt, Saudi Arabia, United Arab Emirates, Argentina, and Chile.
Scope
This Market Model gives important, expert insight you won’t find in any other source. The model illustrates qualitative and quantitative trends within the specified market. This model is required reading for
- CMO executives must have a deep understanding of the TMVR marketplace to make strategic planning and investment decisions.
- Sourcing and procurement executives must understand crucial components of the supply base to make decisions about supplier selection and management.
- Private equity investors who need a deeper understanding of the market to identify and value potential investment targets.
Reasons to Buy
- Understand the impact of COVID-19 on TMVR.
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving TMVR.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the TMVR market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company’s share of market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track device sales in the global and country-specific TMVR market from 2015-2033.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
Frequently asked questions
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What was the TMVR market size in 2023?
The TMVR market size was $1.22 billion in 2023.
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What will the TMVR market CAGR be during the forecast period?
The TMVR market will grow at a CAGR of more than 15% from 2023 to 2033.
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Which region dominated the TMVR market in 2023?
North America was the largest regional TMVR market in 2023.
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Which are the key companies operating in the TMVR market?
The key companies in the TMVR market are Abbott Laboratories, Edwards Lifesciences Corp, and others.
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