Transcatheter Mitral Valve Repair & Replacement Market by Product [Mechanical Valves and Bioprosthetic Tissue (Biological) Valves] and by Indication (Mitral Valve Stenosis, Mitral Valve Prolapse, and Mitral Valve Regurgitation) - Global Opportunity Analysis and Industry Forecast, 2017-2023
The tanscatheter mitral valve repair &…eplacement market was valued at $324 million (excluding the revenue from replacement valves) in 2016, and is expected to reach at $1,878 million (both repair and replacement valves) by 2023, registering a CAGR of 30.0% from 2017 to 2023.
Transcatheter mitral valve repair and replacement is a minimal-invasive technique for the treatment of asymptomatic chronic moderate to severe or severe mitral regurgitation (MR). Mitral valve is positioned between two left chambers of the heart.
It aids by keeping the blood flow properly in one direction-from the left atrium to the left ventricle and avoids it from flowing backward.
Mitral valve replacement is performed when the valve becomes too tight for the blood to flow into the left ventricle.
Growth in geriatric population and rise in mitral valve disorders drive the market growth.
In addition, technological advancements coupled with the introduction novel mitral valves are the other factors that drive the market growth. The major restraint observed for this market is the strict regulations by the governing bodies as well as high cost of mitral valve surgeries and high risk associated with these procedures.
Moreover, rise in healthcare expenditure and emergence in developing countries will create lucrative opportunities for key market players.
The tanscatheter mitral valve replacement (TMVR) market is segmented based on product, indication, and region. Based on product, the market is bifurcated into mechanical valves and bioprosthetic tissue (biological) valves.
Based on indication, the market is classified into mitral valve stenosis, mitral valve prolapse, and mitral valve regurgitation. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global tanscatheter mitral valve repair & replacement market, with current trends and future estimations to elucidate the imminent investment pockets.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- Comprehensive quantitative analysis of the industry from 2016 to 2023 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the key segments of the industry helps understand the type of products and technologies used globally.
- Key market players and their strategies are provided to understand the competitive outlook of the market.
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