Transcatheter Mitral Valve Implantation (TMVI) Market Size by Segments, Share, Regulatory, Reimbursement, Procedures and Forecast to 2033
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Transcatheter Mitral Valve Implantation (TMVI) Market Report Overview
The transcatheter mitral valve implantation (TMVI) market was valued at $29.9 million in 2023. The TMVI market will record a strong CAGR of more than 27% from 2023 to 2033. Transcatheter mitral valve implantation (replacement) procedures are suitable for patients who have severe primary or functional MR. It can also be an option for those patients who were once eligible for annuloplasty or surgical replacement, but the mitral valve degenerated. Once approved, TMVI devices might also be efficacious in treating mitral valve stenosis.
TMVI Market Outlook 2023-2033 ($ Million)
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The TMVI market research report explains the market behavior, which will help identify quantitative market trends within the cardiovascular devices therapeutic areas. The report has extensively covered regional-wise quantitative data, highlighting the number of TMVIs across labs, which will help in identifying untapped market opportunities. The model also discusses the detailed impact of COVID-19 on the TMVI market for 2020 and beyond.
Market Size (2023) | $29.9 million |
CAGR (2023-2033) | >27% |
Historic Period | 2015-2023 |
Forecast Period | 2023-2033 |
Key Regions |
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Key Companies |
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TMVI Market Dynamics
With the increasing aging population and prevalence of mitral regurgitation, the demand for mitral valve implantation technology is increasing. Many patients hospitalized with severe mitral regurgitation are not eligible for open heart surgery and have to rely on minimally invasive procedures such as transcatheter mitral valve implantation. Many major companies looking forward to entering the market and their several ongoing trials for approval, the cost of the device will also be affected and the market size will increase at a generous rate in developed countries.
TMVI Market Segmentation by Regions
The key regions in the TMVI market are Asia-Pacific, Europe, the Middle East and Africa, North America, and South and Central America. In 2023, North America had the largest share of the TMVI market. The market growth can be attributed to the increasing aging population in North America and the high prevalence of mitral regurgitation. GlobalData predicts that if the TMVI device receives approval for mitral regurgitation, in the forecast years it might also be used for functional mitral valve regurgitation, mitral valve stenosis, and calcification due to which the target patient pool will be wider and the market value would increase at a faster rate.
TMVI Market Analysis by Regions, 2023 (%)
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TMVI Market – Competitive Landscape
The key companies in the TMVI market are Abbott Laboratories and among others. In 2023, Abbott Laboratories accounted for the highest TMVI market share and value.
TMVI Market Analysis by Companies, 2023 (%)
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Segments Covered in this Report
TMVI Regional Outlook ($ Million, 2015-2033)
- Asia-Pacific
- Europe
- Middle East and Africa
- North America
- South and Central America
Key Inclusions of the market model are:
Currently marketed TMVI market and evolving competitive landscape:
- Insightful review of the key industry trends.
- Annualized total TMVI market revenue by segment and market outlooks from 2015-2033.
- Market-level data on units, average selling prices, and market values.
Global, Regional, and Country level market specific insights:
- Qualitative market-specific information is available with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
- SWOT analysis for the TMVI market.
- Competitive dynamics insights and trends provided for the TMVI market.
Understand the market by getting the veritable big picture including an overview of the healthcare system. In addition, the Market Access segment allows you to delve deeper into market dynamics with information on reimbursement policies and the regulatory landscape.
- Country-specific overview of the healthcare system.
- Country-specific reimbursement policies.
- Country-specific medtech regulatory landscape.
Robust methodologies and sources enable the model to provide an extensive and accurate overview of the market. Demand and supply-side primary sources are integrated within the syndicated models, including Key Opinion Leaders. In addition, real-world data sources are leveraged to determine market trends; these include government procedure databases, hospital purchasing databases, and proprietary online databases.
Companies covered: Abbott Laboratories.
Countries covered: United States, United Kingdom, Germany, France, Italy, Spain, Brazil, China, India, Russia, Japan, Australia, Canada, Mexico, South Korea, Denmark, Ireland, Netherlands, New Zealand, South Africa, Sweden, Switzerland, Austria, Belgium, Finland, Israel, Norway, Poland, Portugal, Taiwan, Czech Republic, Greece, Hungary, Turkey, Egypt, Saudi Arabia, United Arab Emirates, Argentina, and Chile.
Scope
This Market Model gives important, expert insight you won’t find in any other source. The model illustrates qualitative and quantitative trends within the specified market. This model is required reading for
- CMO executives who must have a deep understanding of the TMVI marketplace to make strategic planning and investment decisions.
- Sourcing and procurement executives must understand crucial components of the supply base in order to make decisions about supplier selection and management.
- Private equity investors that need a deeper understanding of the market to identify and value potential investment targets.
Reasons to Buy
- Understand the impact of COVID-19 on TMVI.
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving TMVI.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the TMVI market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company’s share of market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track device sales in the global and country-specific TMVI market from 2015-2033.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
Frequently asked questions
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What was the TMVI market size in 2023?
The TMVI market size was $29.9 million in 2023.
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Which region dominated the TMVI market in 2023?
North America was the largest regional segment of the TMVI market in 2023.
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Which are the key companies operating in the TMVI market?
The key companies in the TMVI market are Abbott Laboratories, and others.
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