Mitral Valve Stenosis Market Overview
The Mitral Valve Stenosis Market is anticipated to reach USD 4.3 Billion by 2032 at 7.7% CAGR during the forecast period 2023-2032. Mitral valve stenosis (MVS) occurs when the mitral valve fails to open normally. Blood from the left ventricle flows back into the left atrium. As the left atrium expands, fluid builds up in the lungs. Rheumatic fever or other cardiac diseases are common causes of this disease. About 30 million people are affected by MVS globally. The major symptoms of mitral valve stenosis include shortness of breath, chest pain, palpitations, weariness, disorientation, fainting, and ankle, and foot inflammation.
The global mitral valve stenosis market is expanding over time, owing to reasons such as rising heart disease prevalence, rising rheumatic fever cases, technical improvements, the launch of innovative mitral valves, Cardiac Valve, and an expanding number of significant industry players. North and South America are expected to dominate the global mitral valve stenosis market thanks to their high adoption of innovative medical devices, rising healthcare expenditure, and increased occurrence of heart diseases.
The mitral valve stenosis market has been segmented into diagnostic test, treatment, and end user.
The mitral valve stenosis market, on the basis of diagnostic tests, has been segmented into electrocardiogram (ECG), transthoracic echocardiogram, transesophageal echocardiogram, cardiac catheterization, and others
The mitral valve stenosis market, by treatment, has been segmented into medication and procedures. The medication segmented is further classified into diuretics, blood thinners, beta blockers, anti-arrhythmic drugs, and antibiotics. The procedures segment has been further segmented into mitral valvuloplasty and mitral valve surgery. The mitral surgery segment has been further classified into mitral valve repair and mitral valve replacement. The procedures segment is expected to hold major market share on the basis of treatment owing to increasing number of prominent market players engaged in the development of medical devices for mitral valve stenosis.
The mitral valve stenosis market, by end user, has been segmented into hospital & clinics, diagnostic centers, and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The mitral valve stenosis market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European mitral valve stenosis market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The mitral valve stenosis market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The mitral valve stenosis market in the Middle East & Africa has been segmented into the Middle East and Africa.
Medtronic Plc, Edward Lifesciences, Boston Scientific Corporation, Abbott Laboratories, HighLife Medical, Neovasc Inc., CryoLife, Inc., On-X Life Technologies, Inc., Micro Interventional Devices, Inc., Braun Melsungen AG, JenaValve Technology, and Siemens Healthcare are some prominent players in the mitral valve stenosis market.
Regional Market Summary
Global Mitral Valve Stenosis Market Share (%), by Region, 2017
Source: American Heart Association, World Health Organization, White Papers, Company Presentations, Annual Reports
Geographically, the Americas is anticipated to dominate the global mitral valve stenosis market owing to a well-established healthcare sector, rising prevalence of heart diseases, the high adoption rate of technologically advanced medical devices, and growing healthcare expenditure. According to the Heart Disease and Stroke Statistics 2017 by the American Heart Association, about 92.1 million American adults are living with some form of cardiovascular diseases or after-effects of stroke.
Europe is expected to hold the second largest position in the global mitral valve stenosis market. The market growth in this region is attributed to the increasing prevalence of cardiac diseases and increasing healthcare expenditure. According to the European Cardiovascular Disease statistics 2017, in the year 2015 more than 85 million people in Europe were living with cardiovascular disease and about 49 million people were living with the cardiovascular disease in the European Union (EU).
Asia-Pacific mitral valve stenosis market is expected to be the fastest growing market. Growing heart disease burden, improvement in clinical trial regulations, growing preference for advanced medical technologies, the rise in medical tourism, and special incentives for investments in the healthcare sector are anticipated to favor the market growth in this region.
The Middle East & Africa has the least market share in the global market. Majority of the market of this region is anticipated to be held by the Middle East region due to a well-developed healthcare sector and growing government initiatives for the healthcare sector.
Mitral Valve Stenosis Market, by Diagnostic Test
- Electrocardiogram (ECG)
- Transthoracic Echocardiogram
- Transesophageal Echocardiogram
- Cardiac Catheterization
Mitral Valve Stenosis Market, by Treatment
- Blood Thinners
- Beta Blockers
- Anti-Arrhythmic Drugs
- Mitral Valvuloplasty
- Mitral Valve Surgery
- Mitral Valve Repair
- Mitral Valve Replacement
Mitral Valve Stenosis Market, by End User
- Hospital & Clinics
- Diagnostic Centers
Mitral Valve Stenosis Market, by Region
- North America
- South America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- South Korea
- Rest of Asia-Pacific
Medtronic, a medical device company based in both the United States and Ireland, recently recruited the first patient in its Expand TAVR II pivotal trial. Expand TAVR II will test the self-expanding, supra-annular Evolut transcatheter aortic valve replacement (TAVR) platform in patients with mild, symptomatic aortic stenosis (AS), a population not currently included in TAVR guidelines or criteria. It will enroll up to 650 patients at up to 100 global sites, with an objective to evaluate the safety and efficacy of Evolut TAVR over a ten-year period.
Medtronic and GE Healthcare have established a partnership to address the specific needs and demand for care in ambulatory surgery centers (ASCs) and office-based laboratories (OBLs). Customers will have access to a diverse product selection, financial solutions, and great service as a result of this new partnership. The partnership intends to improve efficiency, workflow, and clinical results for GE Healthcare's ASCs and OBLs.Intended Audience
- Pharmaceutical Companies
- Medical Device Manufacturers
- Research and Development (R&D) Companies
- Diagnostic Laboratories
- Government Research Institute
- Academic Institutes and Universities
4.3 billion 2023- 2032
Value (USD Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Diagnostic Test, Treatment, and End user.
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Medtronic Plc, Edward Lifesciences, Boston Scientific Corporation, Abbott Laboratories, HighLife Medical, Neovasc Inc., CryoLife, Inc., On-X Life Technologies, Inc., Micro Interventional Devices, Inc., Braun Melsungen AG, JenaValve Technology, and Siemens Healthcare
Key Market Opportunities
New product launches and R&D Amongst major key Players
Key Market Drivers
· Increasing prevalence of heart diseases
· Growing occurrences of rheumatic fever
· Technological advancements
Frequently Asked Questions (FAQ) :
Rheumatic diseases are the main reason behind mitral valve stenosis market.
Government regulations regarding product approval and high-cost procedures can prevent mitral valve stenosis market growth.
North America would dominate mitral valve stenosis market.
Asia Pacific would be the fastest-growing region in mitral valve stenosis market.
The procedure segment would lead the mitral valve stenosis market.
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