Transcatheter Mitral Valve Repair System Market: By Indications (Mitral Valve Stenosis, Mitral Valve Prolapse, Mitral Valve Regurgitation), By Product (Mechanical Valves, Bioprosthetic Tissue (Biological) Valves), and Geography

Transcatheter Mitral Valve Repair System Market size was valued at USD 1,025.3 million in 2023 and is poised to grow at a significant CAGR of 6.7% over 2024-2030. The most common anomaly in the world is mitral regurgitation, and the frequency of the condition is rising in the elderly population. According to research by the National Center for Biotechnology Information (NCBI), there are currently 1.3 million adult sufferers of mitral regurgitation in the United States. The need for transcatheter mitral valves is being driven by transcatheter mitral valve replacement (TMVR), which has become a therapeutic alternative for the treatment of mitral regurgitation in patients at high or prohibitive surgical risk. Furthermore, the prevalence of degenerative primary mitral regurgitation and ischemia functional secondary mitral regurgitation is driving the rising demand for transcatheter mitral valves. Transcatheter aortic valve replacement (TAVR) has been approved for patients of all risk groups due to developments in transcatheter technologies that have revolutionized how aortic valve disease is treated. Increased frequency of mitral valve disease among the elderly population is another effect of rising life expectancy in developed nations.

However, due to anatomical limitations or higher surgical risks, traditional therapeutic techniques may not be appropriate for older persons. Medical researchers and the transcatheter medicines sector are proliferating to create a new transcatheter method for mitral valve replacement. Due to transcatheter treatment's less intrusive nature, common risks associated with surgery can also be avoided, allowing for symptomatic alleviation without increasing early perioperative risk. Most patients with symptomatic severe mitral regurgitation are not candidates for conventional surgery because of their high-risk factors and the lack of data demonstrating how a procedure affects challenging outcomes. Additionally, the market is anticipated to grow in the upcoming years due to technical developments and the release of new mitral valves. Additionally, it is expected that the market will be driven by the growing elderly population and the rising need for more minor invasive procedures for high-risk patients during the estimated period. New market prospects are presented by increased healthcare spending and the advent of cardiovascular illnesses in developing nations.

Transcatheter Mitral Valve Repair System Market Recent Key Developments

• In March 2022, Edwards Lifesciences received approval from the U.S. Food and Drug Administration (FDA) for its MITRIS RESILIA valve. It is a tissue valve replacement which is specifically designed for the heart's mitral position.
• In April 2020, Abbott received the CE Mark approval for its Tendyne Transcatheter Mitral Valve Implantation System and TriClip Transcatheter Tricuspid Valve Repair System under its structural heart device portfolio.
• In September 2021, the U.S. Food and Drug Administration (FDA) approved Abbotts Epic Plus and Epic Plus Supra Stented Tissue Valves to boost treatment options for individuals with aortic or mitral valve disease.