Outlook of the transcatheter mitral valve replacement market
According to the transcatheter mitral valve replacement Market (TAVR) key insights, Technavio’s analyst has estimated that the global transcatheter mitral valve replacement market will grow stupendously at a CAGR of approximately 22% over the forecast period. With the increasing prevalence of mitral regurgitation, the market for transcatheter mitral valve replacement will have a positive outlook until the end of 2020. In 2009, research studies estimated that over 176 million people worldwide were suffering from mitral regurgitation. With age, the heart muscles lose their elasticity and their ability to respond to different pressure rates. This makes most individuals aged 60 or above susceptible to heart disorders such as mitral regurgitation. Furthermore, the rapidly increasing older population is driving the TAVR market growth because aging increases the chances of developing cardiovascular disorders including mitral regurgitation.
Factors like the recent advancements in technology, material, and design of prosthetic valves and delivery devices will aid the prospects for market growth until the end of the forecast period. 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.
Product segmentation and analysis of the transcatheter mitral valve replacement market
- Transfemoral implantation
- Transapical implantation
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.
Geographical segmentation and analysis of the transcatheter mitral valve replacement market
During 2015, the Americas was the largest market for transcatheter mitral valve replacement as it accounted for more than 49% of the market share. The market in the Americas is expected to grow rapidly due to the increasing incidences of mitral valve disorders in the region. Furthermore, the advances in technology and implementation of minimally invasive transcatheter mitral valve replacement procedures will aid in the growth of the TAVR market value until the end of 2020.
Competitive landscape and key vendors
The global market for transcatheter mitral valve replacement is 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.
Key vendors in this market are
- Abbott Laboratories
- Edwards Lifesciences
- Micro Interventional Devices
- Neovasc
Other prominent vendors in the market are MitrAssist, NaviGate Cardiac Structures, and Valtech.
Key questions answered in the report include
- What will the transcatheter mitral valve replacement market size and the growth rate be in 2020?
- What are the key factors driving the global transcatheter mitral valve replacement market?
- What are the key market trends impacting the growth of the global transcatheter mitral valve replacement market?
- What are the challenges to market growth?
- Who are the key vendors in the global transcatheter mitral valve replacement market?
- What are the market opportunities and threats faced by the vendors in the global transcatheter mitral valve replacement market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global transcatheter mitral valve replacement market?
Technavio also offers customization on reports based on specific client requirement.
Related reports
Table of Content
PART 01: Executive summary
PART 02: Scope of the report
- Market overview
- Top-vendor offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
PART 05: Market landscape
- Market overview
- Market size and forecast
- Five forces analysis
PART 06: Market segmentation by product
- Transfemoral implantation
- Transapical implantation
PART 07: Reimbursement and economics of transcatheter mitral valve replacement in US
- Reimbursement for transcatheter mitral valve replacement
- Economic impact of transcatheter mitral valve replacement
PART 08: Geographical segmentation
- Transcatheter mitral valve replacement market in Americas
- Transcatheter mitral valve replacement market in EMEA
- Transcatheter mitral valve replacement market in APAC
PART 09: Market drivers
- Prevalence of mitral regurgitation
- Use of minimally invasive procedures
- Use of transcatheter mitral valve replacement in high-risk individuals
PART 10: Impact of drivers
PART 11: Market challenges
- Availability of alternative treatment
- Stringent regulatory framework
- Lack of skilled personnel
PART 12: Impact of drivers and challenges
PART 13: Market trends
- Development of novel products
- Increase in M&A
- Focus on US
PART 14: Vendor landscape
- Competitive scenario
- Product portfolio matrix
PART 15: Key vendor analysis
- Abbott Laboratories
- Edwards Lifesciences
- Micro Interventional Devices
- Neovasc
- Other prominent vendors
PART 16: Appendix
PART 17: Explore Technavio