The report is intended to provide a granular analysis of the factors supporting the market’s trajectory and those creating hindrances for the global transcatheter mitral valve replacement market. According to a few of the recent studies, nearly 176 million cases of mitral regurgitation were reported worldwide in 2009. With increasing age, heart muscles start losing their elasticity, subsequently ability to respond to fluctuating pressure rates. Considering this, people aged above 60 years are more vulnerable to develop heart disorders such as mitral regurgitation. Experts therefore present positive outlook for the market on the back of the rapidly increasing geriatric population and the rising incidence of cardiovascular disorders.
Besides the aforementioned natural causes, the market is teeming with opportunities bearing in mind the recent advancements in technology and material used to innovate designs of prosthetic valves. Also the delivery devices have witnessed substantial developments in the recent past, which have given much impetus to the global transcatheter mitral valve replacement market. Because, it is minimally invasive, transcatheter mitral valve replacement is gaining increased traction as compared to open-heart surgeries. These factors together will enable the global market exhibit strong growth in the coming years.
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It is also important to note here that the durability and compatibility of implants have remained a major cause of concern. Also the risk of human body rejecting implants is undeniable. This in turn has fuelled the demand for transcatheter mitral valves than mechanical prosthetic valves. The report discusses in detail the various factors helping the global transcatheter mitral valve replacement market grow. It also presents insights into the various segments within the market and identifies the ones showcasing most lucrative prospects.
Based on product, the global transcatheter mitral valve replacement market can be bifurcated into transapical implantation and transfemoral implantation. Of these, transfemoral implantation uses a catheter to implant transcatheter mitral valve from the femoral artery to mitral valve. Because the procedure does not have any limitation on incision diameter, it is preferred more for implanting large transcatheter mitral valve.
Regionally, the market is gaining much traction from the US and Europe. According to the report, the US is expected to emerge as a highly lucrative market. The high incidence of mitral valve disorders witnessed in the Americas is helping the market grow in region. Furthermore, the region has always been an early adopted of the latest technologies, leading to the high demand for minimally invasive surgeries, in turn fuelling the demand for transcatheter mitral valve replacement in the US. The report discusses in detail the region exhibiting the highest demand for the same based on information obtained from trusted industrial sources.
To provide a more comprehensive overview, the report covers an in-depth study on the prevailing competition in the global transcather mitral valve replacement market. According to the report the market is highly consolidated with only a handful of players enjoying a worldwide presence. The US has more stringent process of approval, which has made it even more difficult for vendors to launch their products in the country. However, as per the report, the competitive is likely to get fiercer considering the rising number of mergers and acquisitions conducted by the market players to emerge at the fore. Also the recent research and development initiatives aimed at developing advanced devices and products are expected to fuel competition in the market further. Some of the most prominent companies operating in the global transcatheter mitral valve replacement are Abbott Laboratories, Edward Lifescience Incorporation, and Medtronic.
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