Transcatheter Mitral Valve Repair Devices - Market

Transcatheter Mitral Valve Repair Devices Market by Type (Mechanical Valve and Bioprosthetic Tissue (Biological) Valve), Indication (Mitral Valve Regurgitation, Mitral Valve Stenosis, and Others), End-User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to advance at a respectable CAGR forecast till 2030 owing to the growing prevalence of cardiovascular disorders and the increasing product developmental activities worldwide.

The transcatheter mitral valve repair devices market was valued at USD 1,197.06 million in 2023, growing at a CAGR of 14.95% during the forecast period from 2024 to 2030 to reach USD 2,756.71 million by 2030. The transcatheter mitral valve repair devices market is expanding rapidly due to the growing prevalence of cardiovascular disorders including circulatory diseases, various heart valve diseases, increasing product developmental activities such as regulatory clearances, rising sedentary lifestyle & lifestyle-associated disorders, increasing preference for minimally invasive surgeries that are expected to escalate the overall growth of the transcatheter mitral valve repair devices market during the forecast period from 2024 to 2030.

Transcatheter Mitral Valve Repair Devices Market Dynamics:

According to the British Heart Foundation (BHF), it was reported in 2024, that around 640 million people in 2022 were living with heart and circulatory diseases worldwide owing to changing lifestyles, aging, and a growing population.

As per data from the World Health Organization (WHO) 2020, the prevalence of calcific aortic valve stenosis was 9 million across the world. Thus, the increasing prevalence of cardiovascular diseases including circulatory diseases and various heart valve diseases will increase the demand for transcatheter mitral valve repair devices.

The increasing patient preference for minimally invasive surgeries is also likely to bode well for the market growth during the forecast period. Transcatheter mitral valve repair devices offer advantages over conventional surgeries owing to their minimally invasive approach, such as shorter recovery time, less post-operational pain, less stay at the hospital, fewer wound complications, and better wound prosthesis. 

Additionally, in January 2021, Cardiovascular Systems, Inc. received CE Mark for Diamondback 360® Coronary Orbital Atherectomy System.

Therefore, the factors stated above collectively will drive the overall transcatheter mitral valve repair devices market growth.

However, risk and complications associated with transcatheter mitral valve repair procedures, stringent regulatory approval process, among others may prove to be challenging factors for transcatheter mitral valve repair devices market growth.

Transcatheter Mitral Valve Repair Devices Market Segment Analysis:

Transcatheter Mitral Valve Repair Devices Market by Type (Mechanical Valve and Bioprosthetic Tissue (Biological) Valve), Indication (Mitral Valve Regurgitation, Mitral Valve Stenosis, and Others), End-User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the type segment of the transcatheter mitral valve repair devices market, the bioprosthetic tissue (biological) valve category is expected to have a significant revenue share in the year 2023. This is due to the advancements in material science, enhanced durability, and expanding clinical applications.

Bioprosthetic valves, derived from porcine or bovine tissue, are increasingly preferred for their superior hemodynamic performance, reduced thrombogenicity, and elimination of lifelong anticoagulation therapy, which is particularly advantageous for elderly and active patients.

Further, the increasing product launches & approvals and other strategic activities will in turn propel the demand for bioprosthetic tissue valve devices. For instance, in September 2021, Abbott received US FDA approval for Epic Plus and Epic Plus Supra Stented Tissue Valves to improve therapy options for people suffering from aortic or mitral valve disease. Epic Plus, a bioprosthetic valve, do not require long-term use of blood-thinner medication, making them the recommended option for people, especially aged over 70 years who are at risk of taking blood thinners.

Therefore the widespread uses and various features of bioprosthetic tissue (biological) valve) enhance performance and usability, solidifying the significant impact on the growth of the overall transcatheter mitral valve repair devices market during the forecast period from 2024 to 2030.

North America is expected to dominate the overall Transcatheter Mitral Valve Repair Devices Market:

Among all the regions, North America is expected to dominate the transcatheter mitral valve repair devices market in the year 2023 and is expected to do the same during the forecast period. This can be attributed to several factors including the high instances of myocardial infarction, heart valve diseases, and their associated risk factors, combined with significant advancements in product development & regulatory approvals, the presence of market key players, and the availability of well-established advanced healthcare infrastructure that are acting as key factors contributing to the growth of the transcatheter mitral valve repair devices market in the North America region during the forecast period from 2024 to 2030.

Disease Control and Prevention (CDC) (2024), it was stated that 805,000 people in the US have a myocardial infarction (heart attack) every year on average. Furthermore, as per the same source, it was stated that heart disease is an umbrella term that encompasses numerous indications. Some of the key risk factors associated with heart disease are high blood cholesterol, high blood pressure, and smoking. The source further mentioned that about half of Americans (47%) have at least one of these three risk factors.

According to the Canadian Cardiovascular Society (2022), it was reported that in 2022, 2.5% of the population had heart valve diseases, which is increasing significantly after the age of 65, reaching up to 13% after the age of 75. It was also estimated by the same source that in 2040, Canada will have an estimated 1.5 million people over 65 years with heart valve disease.

Since cardiovascular disorders are rising in the region among middle-aged individuals, the demand for more effective diagnostic and treatment options is increasing significantly. This trend is fueling investment in innovative technologies and expanding the market for transcatheter mitral valve repair devices.

Rising product developmental activities by regulatory bodies and key players in the region will further boost the market for transcatheter mitral valve repair devices. For example, in September 2022, Edwards Lifesciences received FDA approval for its Pascal Precision system. The device used minimally invasive surgery to repair the mitral valve in patients with degenerative mitral regurgitation, a condition where the valve between heart chambers does not close completely, allowing blood to leak back through.

Therefore, the interplay of all the aforementioned factors would provide a conducive growth environment for the North American transcatheter mitral valve repair devices market.

Transcatheter Mitral Valve Repair Devices Market Key Players:

Some of the key market players operating in the transcatheter mitral valve repair devices market include Abbott, Edwards Lifesciences Corporation, Shockwave Medical, Inc., LivaNova PLC, NeoChord, Inc., Coramaze Technologies, CryoLife, Inc., JenaValve Technology, Inc., Medtronic, Boston Scientific Corporation, and others.

Recent Developmental Activities in the Transcatheter Mitral Valve Repair Devices Market:

• In May 2024, 4C Medical Technologies, a Minnesota-based medical device company focused on structural heart disease, received the FDA’s breakthrough device designation for its AltaValve System for transcatheter mitral valve replacement (TMVR).
• In January 2023, Shockwave Medical, Inc., acquired Neovasc Inc., a company focused on the minimally invasive treatment of refractory angina, which is a chronic condition wherein a patient suffers chest pain that cannot be controlled by conventional therapies.

Key Takeaways from the Transcatheter Mitral Valve Repair Devices Market Report Study

• Market size analysis for current transcatheter mitral valve repair devices market size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the transcatheter mitral valve repair devices market
• Various opportunities available for the other competitors in the transcatheter mitral valve repair devices 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 transcatheter mitral valve repair devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for transcatheter mitral valve repair devices market growth in the coming future?

Target Audience who can be benefited from this Transcatheter Mitral Valve Repair Devices Market Report Study

• Transcatheter mitral valve repair devices product providers
• Research organizations and consulting companies
• Transcatheter mitral valve repair devices-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 transcatheter mitral valve repair devices
• Various end-users who want to know more about the transcatheter mitral valve repair devices market and the latest technological developments in the transcatheter mitral valve repair devices market