Overview and Scope
The mitral valve disease market includes revenues earned by entities by providing services such as diagnostic imaging, surgical, and interventional procedures, alongside consultation, rehabilitation, and telemedicine services, catering to patient care and research needs. The market value includes the value of related goods sold by the service provider or included within the service offering. The mitral valve disease market also includes sales of valve repair devices, valve replacement devices, imaging and diagnostic tools. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The mitral valve disease market size has grown strongly in recent years. It will grow from $2.75 billion in 2023 to $3 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to patient education initiatives, adequate reimbursement policies and insurance coverage, growing healthcare expenditure, rising awareness and screening efforts, and expanding market presence.
The mitral valve disease market size is expected to see strong growth in the next few years. It will grow to $4.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to growing prevalence of mitral valve disease, increasing adoption for minimally invasive techniques, soaring innovations in heart valve surgery, rise venture capital investments, and rising interest of manufacturers. Major trends in the forecast period include technological advancements, advancements in transcatheter technologies, and increasing technological advancements in surgical procedures.
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Segmentation & Regional Insights
The mitral valve disease market covered in this report is segmented –
1) By Treatment Type: Mitral Valve Repair, Mitral Valve Replacement, Cardiac Resynchronization Therapy, Mitral Valve Therapeutics
2) By Indication: Mitral Valve Stenosis, Mitral Valve Prolapse, Mitral Valve Regurgitation
3) By End-User: Hospitals, Ambulatory Surgical Centers, Other End-Users
Europe was the largest region in the mitral valve disease market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mitral valve disease 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 increasing prevalence of vascular heart diseases is expected to propel the growth of mitral valve disease market going forward. Vascular heart diseases encompass a group of conditions affecting the blood vessels supplying the heart or within the heart itself. A complex interplay of lifestyle choices, demographic changes, medical conditions, environmental factors, and genetic variables drives the increasing cases of vascular heart diseases. Vascular heart diseases, such as ischemic heart disease and hypertension, can indirectly cause mitral valve disease by compromising the heart’s structure and function, leading to conditions that affect the mitral valve. For instance, in December 2023, according to data from the Australian Bureau of Statistics 2020-21 National Health Survey conducted by the Australian Institute of Health and Welfare, an Australia-based government agency, an estimated 571,000 adults aged 18 and over in Australia were living with coronary heart disease (CHD), comprising 2.9% of the adult population. Moreover, the prevalence of CHD rises significantly with age, impacting approximately 11% of adults aged 75 and above. Therefore, the increasing prevalence of vascular heart diseases is driving the mitral valve disease market.
Key Industry Players
Major companies operating in the mitral valve disease market are Pfizer Inc., Bayer AG, Abbott Laboratories, Novartis AG, Medtronic plc, Boston Scientific Corporation, Edwards Lifesciences, ShockWave Medical Inc., Artivion Inc., TTK Health Care Limited, Braile Biomedica, JenaValve Technology Inc., 4C Medical technologies, Labcor Laboratorios Ltda, CryoLife Inc., Valcare Medical, Affluent Medical, Colibri Heart Valve LLC, Coramaze Technologies, Corcym UK Limited, HighLife Medical, Micro International Devices Inc., Neovasc Inc., Mitralign Inc., Transcatheter Technologies GmbH
The mitral valve disease market report table of contents includes:
1. Executive Summary
2. Industrial X-Ray Market Report Structure
3. Industrial X-Ray Market Trends And Strategies
4. Industrial X-Ray Market – Macro Economic Scenario
5. Industrial X-Ray Market Size And Growth
…..
27. Industrial X-Ray Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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