Transcatheter Mitral Valve Repair (TMVR) devices are minimally invasive solutions for treating mitral valve diseases, particularly mitral regurgitation (MR), the most common heart valve disorder, affecting 45.4% of valve disease patients in 2019. Globally, 96.7 million people, including 10.6 million in China, had MR in 2019. Unlike traditional open-heart surgery, TMVR offers faster recovery and lower risks, making it ideal for high-risk patients. Abbott’s MitraClip, CE-marked in 2008, FDA-approved in 2018, and China-approved in 2020, pioneered edge-to-edge repair.
Edwards Lifesciences’ 2019 acquisition of Mitralign enhanced its portfolio. The market is concentrated, with Abbott and Edwards leading due to patented technologies like the PASCAL system. Innovations focus on robotic-assisted procedures and chordal repair systems like NeoChord’s. Challenges include procedural complexity, high costs, and regulatory hurdles, yet aging populations and unmet needs drive growth.
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Edwards Lifesciences’ 2019 acquisition of Mitralign enhanced its portfolio. The market is concentrated, with Abbott and Edwards leading due to patented technologies like the PASCAL system. Innovations focus on robotic-assisted procedures and chordal repair systems like NeoChord’s. Challenges include procedural complexity, high costs, and regulatory hurdles, yet aging populations and unmet needs drive growth.
Market Size and Growth Forecast
The global Transcatheter Mitral Valve Repair Device market is projected to reach USD 1.0-1.5 billion by 2025, with an estimated compound annual growth rate (CAGR) of 8% to 10% through 2030. Growth is driven by MR prevalence, minimally invasive preferences, and technological advancements, tempered by regulatory and cost barriers.Regional Analysis
- North America holds 50-60%, with a growth rate of 7%-9%. The U.S. leads in hospital adoption, with trends focusing on robotic TMVR.
- Asia Pacific accounts for 10-20%, with a growth rate of 9%-11%. China’s Hanyu Medical and Japan’s cardiology hubs drive growth. India’s aging population grows. Trends include cost-effective devices.
- Europe holds 25-35%, with a growth rate of 7%-9%. Germany’s Edwards dominates hospitals. Trends focus on chordal repair.
- Middle East and Africa hold 0-1%, with a growth rate of 5%-7%. The UAE’s cardiology grows, but adoption lags. Trends include medical tourism.
- South America accounts for 0-1%, with a growth rate of 5%-7%. Brazil’s hospitals support demand. Trends focus on affordability.
Application Analysis
- Hospitals: Holds 85-95%, with a growth rate of 8%-10%. Abbott’s MitraClip dominates surgeries. Trends include robotic integration.
- Diagnostic Centres: Accounts for 5-10%, with a growth rate of 7%-9%. Edwards’ PASCAL grows in diagnostics. Trends focus on imaging-guided TMVR.
- Others: Holds 0-1%, with a growth rate of 5%-7%. NeoChord’s niche applications grow. Trends include outpatient procedures.
Key Market Players
- Abbott: A U.S. firm, Abbott develops edge-to-edge TMVR devices.
- Cardiac Dimensions: A U.S. company, Cardiac focuses on annuloplasty systems.
- NeoChord: A U.S. firm, NeoChord supplies chordal repair devices.
- Edwards Lifesciences: A U.S. company, Edwards develops PASCAL systems.
- Hanyu Medical: A Chinese firm, Hanyu focuses on cost-effective TMVR.
Porter’s Five Forces Analysis
- Threat of New Entrants: Low. High regulatory and technical barriers deter entry, with Abbott dominating.
- Threat of Substitutes: Moderate. Surgical repair competes, but Edwards’ TMVR retains minimally invasive appeal.
- Bargaining Power of Buyers: High. Hospitals switch suppliers, pressuring NeoChord for pricing.
- Bargaining Power of Suppliers: Moderate. Component suppliers influence costs, but Abbott’s scale reduces dependency.
- Competitive Rivalry: High. Abbott and Edwards compete on innovation and market share.
Market Opportunities and Challenges
Opportunities
- Aging Population: MR prevalence boosts Abbott’s sales.
- Minimally Invasive Demand: TMVR adoption drives Edwards’ growth.
- Robotic Procedures: Automation favors NeoChord’s expansion.
- Emerging Markets: China’s cardiology supports Hanyu’s share.
- Chordal Repair: Innovations boost Cardiac Dimensions’ adoption.
- Regulatory Approvals: New certifications enhance Abbott’s revenue.
- Unmet Needs: MR undertreatment favors Edwards’ growth.
Challenges
- Procedural Complexity: TMVR challenges Abbott’s adoption.
- High Costs: Device expenses pressure Edwards’ margins.
- Regulatory Hurdles: Approvals increase NeoChord’s costs.
- Surgical Competition: Open-heart options threaten Hanyu’s share.
- Supply Chain Issues: Component delays affect Cardiac Dimensions’ delivery.
- Market Saturation: Mature regions slow Abbott’s expansion.
- Technological Barriers: Robotic TMVR development affects Edwards’ innovation.
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Table of Contents
Chapter 1 Executive SummaryChapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
Chapter 7 Latest Market Dynamics
Chapter 8 Trading Analysis
Chapter 9 Historical and Forecast Transcatheter Mitral Valve Repair Device Market in North America (2020-2030)
Chapter 10 Historical and Forecast Transcatheter Mitral Valve Repair Device Market in South America (2020-2030)
Chapter 11 Historical and Forecast Transcatheter Mitral Valve Repair Device Market in Asia & Pacific (2020-2030)
Chapter 12 Historical and Forecast Transcatheter Mitral Valve Repair Device Market in Europe (2020-2030)
Chapter 13 Historical and Forecast Transcatheter Mitral Valve Repair Device Market in MEA (2020-2030)
Chapter 14 Summary For Global Transcatheter Mitral Valve Repair Device Market (2020-2025)
Chapter 15 Global Transcatheter Mitral Valve Repair Device Market Forecast (2025-2030)
Chapter 16 Analysis of Global Key Vendors
List of Tables and Figures
Companies Mentioned
- Abbott
- Cardiac Dimensions
- Neochord
- Edwards Lifesciences
- Hanyu Medical
