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Transcatheter Mitral Valve Repair and Replacement Market Set for Rapid Growth and Trend, by 2026 Appraised By Global Players Abbott Laboratories, Biotronik Private Limited, Colibri Heart Valve, Edward Lifesciences Corporation, HLT Medical, LivaNova Plc, M
Global Transcatheter Mitral Valve Repair and Replacement Market
Increasing mortality due to chronic and cardiovascular diseases especially in the elderly population is a major factor boosting the growth of the market. As per the American Heart Association estimates in 2017, around 19.1 million death occur annually worldwide due to various cardiovascular diseases. Furthermore, as per the United Nations (UN) estimates 2017, the geriatric population in the U.S. is expected to reach over 72 million by 2022. The growth of this target population coupled with increasing risk of cardiovascular diseases is expected to drive the growth of the market.
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The global transcatheter mitral valve repair and replacement devices market is expected to witness growth, owing to continuous technological advancements such as developing multiple use valves. For instance, in June 2017, Edwards Lifesciences received FDA approval for its SAPIEN 3 transcatheter prosthetic heart valve, indicated for placement within both mitral valves and aortic valves.
Transcatheter Mitral Valve Repair and Replacement Market – Regional Analysis
On the basis of region, the transcatheter mitral valve repair and replacement market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is projected to dominate transcatheter mitral valve repair and replacement market, owing to high prevalence of cardiac disease. For instance, in the U.S., heart disease is a leading cause of death, accounting for around 375,000 deaths annually. According to ClinicoEconomics and Outcomes Research 2016, Mitral regurgitation is the most frequent valve disease in the U.S. affecting nearly 1 in 10 people of 75 years or older.
Asia Pacific region is expected to witness significant growth, owing expansions of manufacturing facilities by market players. For instance, Medtronic, Inc. in March 2011, opened new manufacturing facility in Singapore to meet increasing demand for cardiac devices in region.
Transcatheter Mitral Valve Repair and Replacement Market – Competitive Analysis
The key players operating in the global transcatheter mitral valve repair and replacement devices market include Abbott Laboratories, Biotronik Private Limited, Colibri Heart Valve, Edward Lifesciences Corporation, HLT Medical, LivaNova Plc, Medtronic Plc, Neovasc Inc., and NeoChord.
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Transcatheter Mitral Valve Repair and Replacement Market – Taxonomy
By Product Type
Bioprosthetic Tissue (Biological) Valves
Mechanical Valves
By Indication
Mitral Valve Regurgitation
Mitral Valve Stenosis
Mitral Valve Prolapse
By End User
Hospitals
Ambulatory Surgical Centers
Specialty Cardiac Centers
By Region
North America
Europe
Asia Pacific
Latin America
Africa
Middle East
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