Published on : Oct 25, 2016
ALBANY, NY, Oct 25, 2016: The global transcatheter mitral valve replacement market is driven by the rising number of patients with a risk of aortic stenosis. The number of transcatheter aortic valve implantation (TAVI) procedures is staggering and this is expected to drive the market in the coming years. Transcatheter mitral valve replacement is a minimally invasive procedure and is an efficient alternative for open-heart surgery, thus appealing to patients worldwide. Moreover, transcatheter mitral valve replacements have led to higher survival rates and the recovery period is very less in comparison to other surgical procedures. All these factors are driving the global transcatheter mitral valve replacement market.
The rapidly increasing geriatric population is driving the market as old age increases the risk of developing cardiovascular disorders including mitral regurgitation. Latest developments in material, technology, and design of prosthetic valves and delivery devices are also supporting the growth prospects of the market. There has been an increased emphasis on the durability and compatibility of implants in the human body and this has encouraged patients to opt for transcatheter mitral valves as opposed to mechanical prosthetic valves. A growing number of patients are reluctant to undergo open-heart procedures and thus, minimally invasive surgical method for the implantation of transcatheter mitral valves is gaining popularity.
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Technological advancements and shorter stay in hospitals are other factors driving the global transcatheter mitral valve replacement market. On the other hand, malpositioning during implantation, the high cost of transcatheter heart valves, and the risk associated with the procedure are factors expected to hinder the growth of the market. In addition to this, there exists a great risk of infection and blood vessel tearing during the transcatheter heart valve replacement procedure. Moreover, product recalls by manufacturers are also posing a challenge to the growth of the market.
The global transcatheter mitral valve replacement market is segmented on the basis of surgical approach, product type, region, and end user. By product type, the market can be segmented into transcatheter mitral valve repair (TMVR) and transcatheter aortic valve replacement (TAVR). On the basis of surgical approach, the market is segmented into transapical approach, transfemoral approach, and transaortic approach. By geography, the market is segmented into North America, Asia, and Europe. Europe is a key market for transcatheter mitral valve replacement. On the basis of end user, the market has been segmented into ambulatory surgical centers, hospitals, and cardiac catheterization laboratory. Of these, the hospital segment will likely be the leading segment in the coming years on account of an increasing number of patients seeking effective and efficient treatment, with shorter stay and recovery time.
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