This market study report presents a detailed segmentation of the global transcatheter mitral valve replacement market by product (transfemoral implantation and transapical implantation) and by geography (the Americas, APAC, and EMEA). The leading vendors identified in the market are Abbott Laboratories, Edwards Lifesciences, Micro Interventional Devices, and Neovasc
Technavio’s market research analysts estimate the transcatheter mitral valve replacement market, which is expected to grow at a CAGR of around 22% between 2016 and 2020. Cardiologists use mitral surgical valve repair procedures or transcatheter replacement procedures to treat mitral regurgitation. Transcatheter mitral valve replacement procedures are minimally invasive and help to treat people who are not eligible for mitral valve repair surgeries due to impaired left ventricle or advanced age. The Americas is the largest market for transcatheter mitral valve replacement, accounting for 49% of the total market share. Much of this region’s growth comes from the increasing incidences of mitral valve disorders in the region.
The new market research report from Technavio provides a breakdown and analysis of the transcatheter mitral valve replacement segments by technology.
“Of late, this market is witnessing recent advancements in technology, material, and design of prosthetic valves and delivery devices. The growing focus on compatibility and durability of implants in the human body has increased the preference for transcatheter mitral valves when compared to mechanical prosthetic valves. This shift from open-heart procedures to minimally invasive surgical methods for the implantation of devices like transcatheter mitral valves is expected to drive the market growth for transcatheter mitral valve replacements during the forecast period,” says Brahadeesh Chandrasekaran, Lead Analyst, Healthcare & Lifesciences, Technavio Research
Transfemoral implantation involves the use of a catheter to implant the transcatheter mitral valve through the femoral artery to the mitral valve. This procedure has no limitation on incision diameter. Therefore, it is preferred for the implantation of large transcatheter mitral valve replacement devices.
The key vendors in the transcatheter mitral valve replacement market are Abbott Laboratories, Edwards Lifesciences, Micro Interventional Devices, and Neovasc. This market s highly consolidated with the presence of only a few providers that offer their products worldwide. The regulatory approval process in the US is more stringent compared to that in Europe which makes it increasingly difficult for vendors to gain regulatory approval and launch their products in the US. The vendor competition is expected to intensify with an increase in mergers and acquisitions and R&D to develop new-age devices and products.
A more detailed analysis is available in the Technavio report, Global Transcatheter Mitral Valve Replacement Market 2016-2020.
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