Transcatheter Valve Repair System Market Overview: Market Trends, Strategies, And Oppotunities
Global transcatheter valve repair system market size is expected to reach $7.07 Bn by 2028 at a rate of 7.9%, segmented as by product type, transcatheter aortic valve replacement (tavr), transcatheter mitral valve replacement (tmvr)
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Overview and Scope
A transcatheter valve repair system is a minimally invasive procedure that involves inserting a catheter through a small incision in the leg or chest and guiding it to the heart using imaging guidance. It is used to treat patients with severe (grade 3+ or above) mitral regurgitation brought on by aberrant mitral valve leaflets and the region around the leaflets when open-heart surgery is deemed too dangerous.
Sizing and Forecast
The transcatheter valve repair system market size has grown strongly in recent years. It will grow from $4.79 billion in 2023 to $5.22 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to growing cardiovascular disease rates, surgical limitations, initial transcatheter valve success, research and development investments, physician adoption and training.
The transcatheter valve repair system market size is expected to see strong growth in the next few years. It will grow to $7.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to expanded indications, aging population, value-based healthcare initiatives, patient-centric care models, next-generation device development. Major trends in the forecast period include long-term durability focus, healthcare system integration, data-driven precision medicine, remote and robotic-assisted interventions, hybrid procedures.
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Segmentation & Regional Insights
The transcatheter valve repair system market covered in this report is segmented –
1) By Product Type: Transcatheter Aortic Valve Replacement (TAVR), Transcatheter Mitral Valve Replacement (TMVR), Transcatheter Pulmonary Valve Replacement (TPVR), Transcatheter Tricuspid Valve Replacement (TTVR)
2) By Application: Aortic Stenosis, Mitral Stenosis, Tricuspid Stenosis, Pulmonary Stenosis
3) By End-user: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Other End-Users
North America was the largest region in the transcatheter valve repair systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the transcatheter valve repair system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in the incidence of heart diseases is expected to propel the growth of the transcatheter valve repair system market going forward. Heart disease refers to a condition that affects the blood vessels or the heart. Transcatheter devices are used to replace a defective aortic valve with an artificial valve in the treatment of valvular heart disease, specifically aortic valve disease. For instance, in December 2022, according to data published by New York government, in the United States, heart disease claims the lives of about 697,000 people annually, or 1 in every 5 fatalities where around 805,000 Americans experience a heart attack each year among which 605,000 of these result in a first-time heart attack, while 200,000 are caused by previous heart attacks. Therefore, the rise in the incidence of heart disease is driving the growth of the transcatheter valve repair system market.
Key Industry Players
Major companies operating in the transcatheter valve repair system market report are Abbott Laboratories, Medtronic Plc., Boston Scientific Corporation, Edwards Lifesciences Corporation, Bracco Group, LivaNova Plc., Meril Life Sciences Pvt. Ltd., Sorin Group, Cordis Corporation, MicroPort Scientific Corporation., Biotronik Pvt. Ltd, AtriCure Inc., OrbusNeich Medical Group Holdings Limited, Endologix LLC, Venus Medtech (Hangzhou) Inc., Dura LLC, HLT Medical Inc., Symetis SA, JenaValve Technology Inc., 4C Medical Technologies Inc., Cardiac Dimensions Inc., Valve Solutions Inc., Transcatheter Technologies GmbH, Evalve Corporation, Colibri Heart Valve LLC, Aegis Surgical Limited, Medtentia International Ltd., Coramaze Technologies Ltd., Neovasc Inc., Anteris Technologies Ltd.
The transcatheter valve repair system market report table of contents includes:
1. Executive Summary
2. Transcatheter Valve Repair System Market Characteristics
3. Transcatheter Valve Repair System Market Trends And Strategies
4. Transcatheter Valve Repair System Market - Macro Economic Scenario
5. Global Transcatheter Valve Repair System Market Size and Growth
………..
32. Global Transcatheter Valve Repair System Market Competitive Benchmarking
33. Global Transcatheter Valve Repair System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Transcatheter Valve Repair System Market
35. Transcatheter Valve Repair System Market Future Outlook and Potential Analysis
36. Appendix
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