Mitral Valve Annuloplasty Rings Market

Mitral Valve Annuloplasty Rings Market By End-User (Hospitals, Ambulatory Surgical Centers, And Others), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to the increasing prevalence of cardiovascular disorders and associated risks and increasing technological advancements in mitral valve annuloplasty systems

The global mitral valve annuloplasty rings market is estimated to grow at a CAGR of 5% during the forecast period from 2024 to 2030. The demand for mitral valve annuloplasty rings is primarily being boosted by the increasing prevalence of cardiovascular disorders and associated risks. Additionally, increasing technological advancements in mitral valve annuloplasty systems are another key factor influencing the demand for the mitral valve annuloplasty rings market during the forecast period from 2024-2030. 

Mitral Valve Annuloplasty Rings Market Dynamics:

According to the data provided by the American Heart Association 2021, rheumatic heart disease (RHD) remains one of the most common cardiovascular diseases affecting 40.5 million people, globally.

As per the latest data provided by the European Society of Cardiology, it was stated that the Mitral Regurgitation (MR) is the second most frequent indication for valve surgery in Europe. Further, the source stated that the common causes of Mitral Regurgitation (MR) include prolapse syndrome, flail leaflet, rheumatic heart disease, coronary artery disease (CAD), and infective endocarditis. 

Moreover, according to data provided by the World Health Organization in 2021, the percentage of people aged 60 years and above is expected to double from 12% to 22% between 2015 and 2050, globally. 

As the age increases the heart undergoes various structural and functional changes as a part of the normal aging process. These changes can affect the cardiovascular system, potentially contributing to the persistence or development of various cardiovascular disorders. Thus, the rising prevalence of cardiovascular disorders globally will create a need for the treatment and management of such disorders, thus resulting in the positive growth of the mitral valve annuloplasty rings market during the forecast period. 

Further, increasing technological advancement in mitral valve annuloplasty systems will also help to propel the growth of the mitral valve annuloplasty rings market. Growing innovations in device material and designs are improving the durability and functionality of mitral valve annuloplasty systems. For example, the development of flexible, resilient materials for mitral valve annuloplasty rings enhances their ability to support the valve while preserving natural motion.

Thus, due to the interplay of all the above-mentioned factors, the demand for mitral valve annuloplasty rings will increase, thus resulting in the overall growth of the mitral valve annuloplasty rings market.

However, the risk of complications associated with the mitral valve repair surgical procedure and the high cost associated with the mitral valve repair procedures may act as factors that are expected to limit the growth of the mitral valve annuloplasty rings market.

Mitral Valve Annuloplasty Rings Market Segment Analysis:

Mitral Valve Annuloplasty Rings market by End-User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) 

In the end-user segment of the mitral valve annuloplasty rings market, the hospitals category is estimated to amass a significant revenue share in the mitral valve annuloplasty rings market in 2023. This can be attributed to the various advantages and applications provided by the hospitals over other alternative end-users.

Hospitals often have teams of cardiac surgeons with extensive experience in mitral valve surgeries. These surgeons are well-versed in performing procedures such as mitral valve repair with annuloplasty rings and are trusted by patients and referring physicians for their expertise. Moreover, many healthcare providers at hospitals are directly involved in care during and after the surgical procedures, which becomes relatively easy for physicians to deliver appropriate treatment. 

Additionally, most of the treatments offered by hospitals are generally covered under national insurance or private insurance, which further makes them a favorable choice among patients. Further, the extensive presence of hospitals in various districts and major cities across the globe in all regions also helps to expand the patient reach and cater to a maximum number of patients on a country level.

Therefore, owing to the above-mentioned factors, the hospital category is expected to register significant growth, thereby driving the growth of the overall mitral valve annuloplasty rings market during the forecast period. 

North America Is Expected To Dominate The Overall Mitral Valve Annuloplasty Rings Market:

North America is expected to account for the highest proportion of the mitral valve annuloplasty rings market in 2023, out of all regions. This is due to the presence of a large patient pool suffering from various cardiovascular disorders in North America. Additionally, the presence of robust research and development initiatives, a highly dynamic market in terms of product development, and the presence of developed and sophisticated healthcare infrastructure in the region are some of the key factors driving the growth of the mitral valve annuloplasty rings market in North America.

According to the Centers for Disease Control and Prevention (CDC) 2022, around 18.2 million people aged 20 or above have coronary artery disease in the US. Additionally, as per the above-mentioned source in the US, around 805,000 people face heart attacks every year with 605,000 people facing it for the first time and about 200,000 having experienced at least one incident of heart attack before. Coronary artery disease is one of the causes of Mitral Regurgitation (MR) among individuals requiring mitral valve repair. 

Additionally, as per the data provided by the Centers for Disease Control and Prevention (CDC) 2023, the older adult population is growing substantially in the US, and by 2060 almost a quarter of the U.S. population will be aged 65 years or older. Aging increases the risk of many chronic diseases including heart disease.   

Thus, with the rising prevalence of various cardiovascular disorders fueled by various factors such as sedentary lifestyle, consumption of alcohol and tobacco, and aging population will create a need for the management and treatment of these diseases, which will eventually contribute to the positive growth of the mitral valve annuloplasty rings market in the United States during the forecast period.

Mitral Valve Annuloplasty Rings Market Key Players:

Some of the key market players operating in the Mitral Valve Annuloplasty Rings market include, Abbott, Medtronic, LivaNova PLC, Boston Scientific Corporation, Valcare Medical, Affluent Medical, Braile Biomédica, Corcym UK Limited, Edwards Lifesciences LLC, Genesee BioMedical, HVR Cardio Oy, Labcor Laboratórios Ltda., and others.

Recent Developmental Activities In The Mitral Valve Annuloplasty Rings Market:

• In January 2021, Valcare Medical Ltd. completed its first-in-human transseptal delivery of the AMEND™ annuloplasty ring. The transseptal AMEND procedure was performed at the Schulich Heart Centre at Sunnybrook Health Sciences Centre in Toronto, under the Health Canada Special Access Program. 

Key Takeaways From The Mitral Valve Annuloplasty Rings Market Report Study

• Market size analysis for current mitral valve annuloplasty rings market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global mitral valve annuloplasty rings market.
• Various opportunities available for the other competitors in the mitral valve annuloplasty rings market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current mitral valve annuloplasty rings market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for mitral valve annuloplasty rings market growth in the coming future?

Target Audience Who Can Be Benefited From This Mitral Valve Annuloplasty Rings Market Report Study

• Mitral valve annuloplasty rings product providers
• Research organizations and consulting companies 
• Mitral valve annuloplasty rings related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in mitral valve annuloplasty rings 
• Various end-users who want to know more about the mitral valve annuloplasty ring Market and the latest technological developments in the mitral valve annuloplasty rings Market.

Frequently Asked Questions For The Mitral Valve Annuloplasty Rings Market:

1. What are mitral valve annuloplasty rings?

Mitral valve annuloplasty rings are medical devices used in heart surgery to repair or support the mitral valve. The mitral valve is one of the four valves in the heart, located between the left atrium and left ventricle. 

2. What is the market for mitral valve annuloplasty rings?

The global mitral valve annuloplasty rings market is estimated to grow at a CAGR of 5% during the forecast period from 2024 to 2030.

3. What are the drivers for the global mitral valve annuloplasty rings market?

The mitral valve annuloplasty rings market is primarily being boosted by the increasing prevalence of cardiovascular disorders and associated risks. Additionally, increasing technological advancements in mitral valve annuloplasty systems is another key factor influencing the demand of mitral valve annuloplasty rings market during the forecast period from 2024-2030.  

4. Who are the key players operating in the global mitral valve annuloplasty rings market?

Some of the key market players operating in the mitral valve annuloplasty rings include Abbott, Medtronic, LivaNova PLC, Boston Scientific Corporation, Valcare Medical, Affluent Medical, Braile Biomédica, Corcym UK Limited, Edwards Lifesciences LLC, Genesee BioMedical, HVR Cardio Oy, Labcor Laboratórios Ltda., and others. 

5. Which region has the highest share in the global mitral valve annuloplasty rings market?

North America is expected to dominate the overall mitral valve annuloplasty rings market during the forecast period from 2024 to 2030. This is due to the presence of a large patient pool suffering from various cardiovascular disorders in North America. Additionally, the presence of robust research and development initiatives, a highly dynamic market in terms of product development, and the presence of developed and sophisticated healthcare infrastructure in the region are some of the key factors driving the growth of the mitral valve annuloplasty rings market in North America.