Global Transcatheter Mitral Valve Market Projected to Reach USD 3.0 Billion by 2034

The global transcatheter mitral valve market is poised for significant growth, with expectations to reach a valuation of USD 1.6 billion by the end of 2024. The market is further projected to expand at a compound annual growth rate (CAGR) of 10.8%, attaining a valuation of USD 3.0 billion by 2034.

This impressive growth trajectory is driven by an aging global population and the rising incidence of mitral valve regurgitation. As one of the most prevalent forms of valve disease worldwide, mitral regurgitation necessitates advanced medical interventions, positioning transcatheter mitral valve replacement (TMVR) as a critical component in the field of transcatheter therapeutics.

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The complexities of TMVR, including the position of the mitral valve, the technique used for anchoring the valve replacement, and considerations regarding left ventricular outflow tract obstruction, present significant challenges. Nevertheless, advancements in both transapical and transseptal devices are paving the way for improved outcomes. Several feasibility trials are currently underway across the globe, underscoring the commitment to innovation and patient care in this vital medical field.

With ongoing developments and increasing clinical adoption, the transcatheter mitral valve market is set to revolutionize the treatment landscape for mitral regurgitation, offering new hope for patients and advancing the standards of cardiac care.

Key Takeaways: Global Transcatheter Mitral Valve Market

• The global transcatheter mitral valve market is poised for substantial growth, projected to reach USD 1.6 billion by 2024 and USD 3.0 billion by 2034, expanding at a CAGR of 10.8%.
• United States Expected to lead with a CAGR of 12.8% due to expanded CMS coverage for transcatheter edge-to-edge treatments.
• Germany Strong growth anticipated at a CAGR of 10% driven by medical tourism and favorable reimbursement policies.
• China Projected to grow at a CAGR of 11.7% due to high prevalence of rheumatic fever and increasing focus on cardiac health.
• Product Transcatheter mitral valve repair dominates with an 82.4% market share in 2023, offering advantages like improved left ventricular function and reduced complications.
• End User Hospitals hold the largest market share of 36.7% in 2023, driven by increasing cardiac procedures and government investments in healthcare infrastructure.
• Expanded CMS coverage, medical tourism, increasing prevalence of rheumatic diseases, technological advancements, and rising cardiac procedures are key factors propelling market growth.

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Competitive Landscape:

The global transcatheter mitral valve market is primarily dominated by two industry giants: Abbott and Edwards. Both companies are at the forefront of developing groundbreaking technologies aimed at supporting patients suffering from mitral and tricuspid regurgitation.

These companies have secured licenses and patents for their technologies within this domain. However, the expiration of these licenses and patents could impact the future revenues and operating income of these key players.

Recent Developments:

• April 2024: Medtronic plc announced that the one-year results from the SMART study indicate that the Medtronic Evolut TAVR platform is the optimal therapy for severe aortic stenosis in patients with a small annulus, particularly women.
• May 2024: The one-year outcomes from the Bionetic-i study demonstrate the safety and effectiveness of iliac artery treatment using BIOTRONIK’s Dynetic-35 cobalt chromium balloon-expandable stent system.Top of Form

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Key Players of Transcatheter Mitral Valve Market:

• HLT Inc
• Coramaze Technologies
• Medtronic
• Biotronik
• NeoChord, Inc.
• Colibri Heart Valve LLC
• Neovasc
• Edwards Lifesciences Corporation
• Abbott Laboratories
• LIVANOVA PLC

Key Segments of Transcatheter Mitral Valve Market:

By Product:

In terms of product, the industry is divided into transcatheter mitral valve replacement and transcatheter mitral valve repair.

By Indication:

In terms of indication, the industry is segregated into mitral stenosis and mitral regurgitation.

By End user:

The industry is classified by end user as hospitals, ambulatory surgical centers and cardiac catheterization laboratories

By Region:

Key countries of North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe and Middle East & Africa have been covered in the report.

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