Increase in Prevalence of Valvular Heart Disease Expected to Drive Global Transcatheter Mitral Valve Repair and Replacement Market: Ken Research
As per analysis, “Transcatheter Mitral Valve Repair and Replacement Market: Current Analysis and Forecast (2021-2027)” the key companies operating in the global transcatheter mitral valve repair & replacement market include Highlife Medical, Edwards Lifesciences Corporation, Livanova Plc, Jenavalve Technology, Medtronic Plc, Colibri Heart Valve, Abbott Laboratories, Micro Interventional Devices, Boston Scientific Corporation, Neovasc Inc. and among others. Well-organized market players are engaged in undertaking numerous strategic mergers, acquisitions, collaborations and the partnerships in order to preserve a competitive edge over their peers. These renowned players are also engaged in making investments that enables these players in capturing the highest revenue share.
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Based on product type, transcatheter mitral valve repair & replacement market is segmented as bioprosthetic tissue valves and mechanical valves. Mechanical valves segment dominates the global market due to advantages of these valves such as increased durability, minimal chances of complication, and infection after implantation procedure. In addition, based on indication, market is segmented as mitral valve prolapsed, mitral valve stenosis and mitral valve regurgitation. The mitral valve stenosis segment is predicted to exhibit considerable growth rate due to frequent occurrences of mitral valve regurgitation among elderly population coupled with sudden deaths caused owing to mitral valve regurgitation during the forecast period.
The transcatheter mitral valve repair & replacement market is driven by growth in technological advancements & introduction of novel mitral valves, followed by rise in the number of pipeline devices, increase in prevalence of valvular heart disease, favorable reimbursement scenario, rise in venture capital investments for transcatheter heart valve devices by major players, increase in geriatric population and high prevalence of mitral valve disorders. Apart from this, high cost of mitral valve surgeries, strict regulations set by governing bodies and high risk factors linked with these procedures may impact the market. Moreover, rise in advent of cardiovascular disorders and increases in healthcare expenditure are leading opportunities for market.
Based on geography, the North-America is a leading region in global transcatheter mitral valve repair & replacement market owing to well-established medical reimbursement policy and presence of a large patient population across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to increase in awareness regarding mitral valve diseases over the forecast period. It is anticipated that future of the global transcatheter mitral valve repair & replacement market will be bright on account of growth in technological advancements and introduction of new mitral valves during the forecast period.
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Ankur Gupta, Head Marketing & Communications
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