Tricuspid Valve Repair Systems Market: By Indication, By Procedure Type, By Approach By End User and Geography

Tricuspid Valve Repair Systems Market Size, Share, Growth, Trends, and Global Industry Analysis: By Indication (Tricuspid Valve Regurgitation and Tricuspid Valve Stenosis), By Procedure Type (Surgical Repair and Transcatheter Repair), By Approach (Traditional and Minimally Invasive) By End User (Hospitals and Ambulatory Surgical Centres) and Region

Tricuspid Valve Repair Systems Market size was valued at US$ 695.2 million in 2023 and is projected to grow at 5.9% CAGR over the forecast years to reach US$ 1038.4 million by 2030. The market is experiencing significant growth, driven by several factors such as the increased incidence of tricuspid valve diseases, advancements in medical technology, growing geriatric population, growing awareness of heart valve disorders, and increasing preference for minimally invasive procedures. The rising prevalence of tricuspid valve diseases, driven by several factors such as heart failure, drug abuse, pulmonary hypertension, and age-related degeneration, also encourages high growth. Conditions such as regurgitation and Stenosis are relatively rare, moderate or severe tricuspid regurgitation has an estimated prevalence of 0.55% in the United States, with a higher incidence in women and increasing age. Tricuspid valve repair helps maintain the natural function of the tricuspid valve, reducing the risk of infections, enhancing the survival rate of patients, and relieving fatigue, shortness of breath, and swelling in the leg and abdominal regions.

Besides this, the rising awareness among people regarding the early treatment of diseases associated with the tricuspid valve, to avoid future complications such as heart failure, arrhythmias, edema, blood clots, strokes, and atrial fibrillation, has become yet another factor boosting its growth. Despite the growth, some of the constraints such as the high cost of procedures and devices, regulatory hurdles, and limited awareness and accessibility are constraints that hinder the market growth. By addressing the existing constraints and capitalizing on emerging opportunities such as technological advancements, emerging markets, focus on reimbursement, and clinical trials and research the market can witness significant growth. Shift toward minimally invasive procedures, focus on personalized medicine, technological convergence, and focus on value-based care are the trends that can shape the market in the future.

Tricuspid Valve Repair Systems Market Key Developments

  • In April 2024, Abbott has recently achieved a significant milestone in the field of cardiac care. They received FDA approval for their groundbreaking TriClip™ transcatheter edge-to-edge repair (TEER) system.
  • In Jan 2024, US Food and Drug Administration (FDA) has approved CroíValve an investigational device exemption (IDE) for its tricuspid regurgitation (TR) system. The company has initiated an Early Feasibility Study to evaluate the implant.

Tricuspid Valve Repair Systems Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

5.9%

Largest Market

North America

Fastest Growing Market

Asia Pacific

Tricuspid Valve Repair Systems Market Dynamics

The tricuspid valve repair systems market is growing due to the growing requirement for various minimally invasive procedures, like transcatheter tricuspid valve repair, which minimizes blood loss, pain, and hospital stay while offering quicker recovery, is boosting the growth of this market. Besides, three-dimensional printing technology in the development of patient-specific implants and devices for tricuspid valve repair procedures further provides better fitting and improves surgical outcomes, boosting market growth.

Various government initiatives aimed at providing better coverage for tricuspid valve repair procedures and improving patient access to high-end surgical facilities are setting up a bright outlook for the market. Other factors that are expected to drive the growth of the market are the rising demand for robot-assisted surgeries, immense growth in the healthcare industry, growing investments in the research and development of advanced procedures, and the increasing geriatric population.

Tricuspid Valve Repair Systems Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 695.2 million

Market Size in 2030

US$ 1038.4 million

Market CAGR

5.9%

By Indication

  • Tricuspid Valve Regurgitation
  • Tricuspid Valve Stenosis

By Procedure Type

  • Surgical Repair
  • Transcatheter Repair

By Approach

  • Traditional
  • Minimally Invasive

By End Users

  • Hospitals
  • Ambulatory Surgical Centres

Key Features of the Report

  • The tricuspid valve repair systems market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

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Frequently Asked Questions

The tricuspid valve repair systems market was valued at US$ 695.2 million in 2023 and is projected to grow at 5.9% CAGR over the forecast years to reach US$ 1038.4 million by 2030.

• Increased incidence of tricuspid valve diseases
• Advancements in medical technology
• Growing geriatric population
• Growing awareness of heart valve disorders
• Increasing preference for minimally invasive procedures.

• High cost of procedures and devices
• Regulatory hurdles
• Limited awareness and accessibility

• Shift toward minimally invasive procedures
• Focus on personalized medicine
• Technological convergence
• Focus on value-based care

Asia-Pacific is the fastest-growing region in the tricuspid valve repair systems market.

Author image

Author

Muni Kumar Meravath

Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....

1.Executive Summary
2.Global Tricuspid Valve Repair Systems Market Introduction 
2.1.Global Tricuspid Valve Repair Systems Market  - Taxonomy
2.2.Global Tricuspid Valve Repair Systems Market  - Definitions
2.2.1. Indication
2.2.2. Procedure Type
2.2.3.Approach
2.2.4.End Users
2.2.5.Region
3.Global Tricuspid Valve Repair Systems Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Tricuspid Valve Repair Systems Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Tricuspid Valve Repair Systems Market  By  Indication, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Tricuspid Valve Regurgitation
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Tricuspid Valve Stenosis
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
6.Global Tricuspid Valve Repair Systems Market  By  Procedure Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Surgical Repair
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Transcatheter Repair
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
7.Global Tricuspid Valve Repair Systems Market  By Approach, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Traditional
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Minimally Invasive
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
8.Global Tricuspid Valve Repair Systems Market  By End Users, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. Hospitals
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Ambulatory Surgical Centres
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
9.Global Tricuspid Valve Repair Systems Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. Asia Pacific (APAC)
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Middle East and Africa (MEA)
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. Latin America
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10.North America Tricuspid Valve Repair Systems Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1.  Indication Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Tricuspid Valve Regurgitation
10.1.2.Tricuspid Valve Stenosis
10.2.   Procedure Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Surgical Repair
10.2.2.Transcatheter Repair
10.3.  Approach Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Traditional
10.3.2.Minimally Invasive
10.4.  End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Hospitals
10.4.2.Ambulatory Surgical Centres
10.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11.Europe Tricuspid Valve Repair Systems Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1.  Indication Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Tricuspid Valve Regurgitation
11.1.2.Tricuspid Valve Stenosis
11.2.   Procedure Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Surgical Repair
11.2.2.Transcatheter Repair
11.3.  Approach Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Traditional
11.3.2.Minimally Invasive
11.4.  End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.Hospitals
11.4.2.Ambulatory Surgical Centres
11.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
12.Asia Pacific (APAC) Tricuspid Valve Repair Systems Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1.  Indication Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Tricuspid Valve Regurgitation
12.1.2.Tricuspid Valve Stenosis
12.2.   Procedure Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Surgical Repair
12.2.2.Transcatheter Repair
12.3.  Approach Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Traditional
12.3.2.Minimally Invasive
12.4.  End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.Hospitals
12.4.2.Ambulatory Surgical Centres
12.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13.Middle East and Africa (MEA) Tricuspid Valve Repair Systems Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1.  Indication Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Tricuspid Valve Regurgitation
13.1.2.Tricuspid Valve Stenosis
13.2.   Procedure Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Surgical Repair
13.2.2.Transcatheter Repair
13.3.  Approach Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Traditional
13.3.2.Minimally Invasive
13.4.  End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Hospitals
13.4.2.Ambulatory Surgical Centres
13.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14.Latin America Tricuspid Valve Repair Systems Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
14.1.  Indication Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.Tricuspid Valve Regurgitation
14.1.2.Tricuspid Valve Stenosis
14.2.   Procedure Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.Surgical Repair
14.2.2.Transcatheter Repair
14.3.  Approach Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.Traditional
14.3.2.Minimally Invasive
14.4.  End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.Hospitals
14.4.2.Ambulatory Surgical Centres
14.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.Edwards Lifesciences Corp.
15.2.2.Abbott
15.2.3.Medtronic
15.2.4.Corcym
15.2.5.Valtech Cardio Ltd.
15.2.6.Sorin S.p.A.
15.2.7.CroiValve
15.2.8.Cardia Implant LLC
15.2.9.LivaNova PLC
15.2.10.Cyberonics Inc.
15.2.11.Boston Scientific Corporation
15.2.12.Micro Interventional Devices Inc.
15.2.13.4Tech Inc.
16. Research Methodology 
17. Appendix and Abbreviations 

Key Market Players

  • Edwards Lifesciences Corp.
  • Abbott
  • Medtronic
  • Corcym
  • Valtech Cardio Ltd.
  • Sorin S.p.A.
  • CroiValve
  • Cardia Implant LLC
  • LivaNova PLC
  • Cyberonics Inc.
  • Boston Scientific Corporation
  • Micro Interventional Devices Inc.
  • 4Tech Inc.

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