Transcatheter Mitral Valve Repair Market Size (Value, Volume, ASP) by Segments, Share, Trend and SWOT Analysis, Regulatory and Reimbursement Landscape, Procedures, and Forecast, 2015-2030

Pages: 41 Published: May 02, 2022 Report Code: GDME682MM

The transcatheter mitral valve repair (TMVR) market size was valued at $1.02 billion in 2021. Transcatheter mitral valve repair is currently FDA approved for non-surgical high-risk degenerative mitral regurgitation. Mitral valve repair treatment is preferred over mitral valve replacement in patients who are eligible because it is linked with lower short-term and long-term mortality and morbidity rates. Approximately, 50% of severe mitral regurgitation patients are not eligible for surgery due to their age or other disorders. Transcatheter mitral valve repair devices are used for minimally invasive treatment of mitral regurgitation (MR).

The transcatheter mitral valve repair market model discusses the effect of COVID-19 on the transcatheter mitral valve repair market for the year 2020 and beyond. Moreover, the model was built to visualize quantitative market trends within cardiovascular device therapeutic areas.

Transcatheter mitral valve repair market overview

Transcatheter mitral valve repair market overview

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What are the market dynamics in the transcatheter mitral valve repair industry?

The prevalence of mitral regurgitation increases with the aging population and is higher in developed countries. Developing countries are more affected by rheumatic heart diseases, which can also contribute to valvular heart disease. The usage of the device will increase in the forecast years in industrialized countries because of the high prevalence and incidence rates of mitral regurgitation and the increasing burden of the aging population. The demand is expected to increase in North America, Europe, and Japan. The market is expected to grow steadily in developing countries where rheumatic heart diseases remain a major problem. However, this growth will be balanced by a lack of physician training, hospital infrastructure, and large rural populations as well as the high cost and complexity of TMVR surgery.

The TMVR market has been growing steadily with expanding indications, positive clinical trial results, and many products in development. 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.

What is the regional level outlook in the transcatheter mitral valve repair market?

The key regions in the transcatheter mitral valve repair market are North America, Europe, Asia Pacific, and South & Central America.

North America

Due to the increase in the burden of the aging population in North America and the high prevalence of mitral regurgitation, the TMVR market will grow at a significant rate. Currently, MitraClip is the only approved device for degenerative and functional MR in North America. The recent approval for functional MR will further boost the market in the immediate forecast period.

Europe

Despite having a high prevalence of mitral regurgitation in Europe, the use of TMVR devices is currently low in most EU countries. However, there is a high level of awareness and interest related to the device.  This might be attributed to several factors such as fewer numbers of centers that perform mitral valve repair procedures, economic and regulatory issues, and a lack of substantial studies that show effective results.

Asia-Pacific

Although the Asia Pacific has a large aging population, the MR prevalence is comparatively lower than in Western countries. The need for aortic valve replacement devices is higher in the region than the need for TMVR.

South & Central America

The market is expected to grow at a comparatively slower rate in South Central America due to the lack of adequate healthcare infrastructure facilities, the high cost of the device, the complexity of the procedure, and the lack of approval of the device in most countries in the region.

Transcatheter mitral valve repair market, by regions

Transcatheter mitral valve repair market, by regions

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Which are the key companies in the transcatheter mitral valve repair market?

The key company in the transcatheter mitral valve repair market is Abbott Laboratories.

Market Report Scope

Market size (Year – 2021) $1.02 billion
Key regions North America, Europe, Asia Pacific, and South & Central America
Key companies Abbott Laboratories

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 transcatheter mitral valve repair 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 need a deeper understanding of the market to identify and value potential investment targets.

Reasons to Buy

  • Understand the impact of COVID-19 on the transcatheter mitral valve repair market.
  • 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 the transcatheter mitral valve repair market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the transcatheter mitral valve repair 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 counterstrategies to gain a competitive advantage.
  • Track device sales in the global and country-specific transcatheter mitral valve repair market from 2015-to 2030.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.

Key Players

  • Abbott Laboratories

    Others

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