Transcatheter Mitral Repair and Replacement Market Expected To Behold a CAGR Of 30.0% Through 2017-2023 | by LivaNova Plc, Abbott Laboratories, Biotronik Pvt Ltd, Edward Lifesciences etc Top Players
The Transcatheter Mitral Repair and Replacement Market is expected to reach $ 1,878 million (both repair and replacement valves) by 2023, with a CAGR of 30.0% from 2017 to 2023. Mechanical valve segments accounted for the largest share of the entire market in 2016.
The increase in the elderly population and the increase in mitral disease lead to market growth. In addition, introducing novel mitral valve combined with technological advancement is another factor driving market growth. The major limitations observed in this market are the high regulation costs of mitral valve surgery and the high risk associated with these procedures, as well as the strict regulation of crown judges. Moreover, increased health spending and emergence in developing countries will create opportunities for key market participants
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The report provides a comprehensive analysis of the key players operating in the global transcatheter mitral valve repair & replacement market such as
• LivaNova Plc
• Abbott Laboratories
• Biotronik Pvt Ltd
• Edward Lifesciences
• Medtronic Plc
• Neovasc Inc.
• St. Jude Medical
• Direct Flow Medical Inc.
• Colibri Heart Valve LLC.
The other players in the value chain of the global transcatheter mitral valve repair and replacement market include Venus Medtech, HLT Medical, Transcatheter Technologies GmbH, MValve Technologies, Coramaze Technologies GmbH, and Mardil Medical.
Mitral valve Stenosis application is anticipated to maintain its dominance during the forecast period, owing to the high prevalence of mitral valve stenosis caused by the rheumatic fever, which is an infectious heart disease. This has led to the remarkable demand for the tanscatheter mitral valve repair & replacement devices.
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Key Findings of the Transcatheter Mitral Valve Repair and Replacement Market
• The U.S. was the major shareholder in the North America transcatheter mitral valve repair & replacement market, and accounted for the highest share in 2016.
• Bioprosthetic tissue (biological) valves is expected to grow at the significant CAGR of 30.5% during 2017-2023.
• China occupied about one-fourth share of the total Asia-Pacific transcatheter mitral valve repair & replacement market in 2016. Whereas, India is expected to grow rapidly registering a CAGR of 32.9% during the forecast period.
• The mitral valve regurgitation segment is growing at a highest CAGR of 33.5% from 2017 to 2023.
• UK is anticipated to exhibit a highest CAGR during the forecast period.
In 2016, Asia-Pacific and LAMEA collectively accounted for about one-third share of the global transcatheter mitral valve repair & replacement market and is expected to continue this trend throughout the forecast period. Key factors driving the market include the prevalence of mitral valve diseases and deaths caused owing to this disease. Mitral valve diseases are sometimes inoperable and can be treated by performing mitral valve surgeries.
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