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The mitral valve stenosis (MVS) is a medical condition whose development is associated with the narrowing of the mitral valve's opening between the left atrium and the left ventricle of the heart. Several factors of market determine the outlook of the MITRAL VALVE STENOSIS market from the viewpoint of its dynamics and changes.
One of the crucial factors influencing the growth of the MITRAL VALVE STENOSIS market is the high rate of occurrence of cardiovascular illnesses. The expanding global population, combined with the increasing number of people suffering from heart diseases, due to an unhealthy lifestyle, results in the increasing frequency of cases of mitral valve stenosis. With this continuously enlarging patient base, the demand for medical devices for the diagnosis, treatment, and managing of MVS is becoming quite substantial.
In addition, technology also shapes market structure significantly. Medical imaging techniques have been improved and now include echocardiography and cardiac catheterization to increase the accuracy of MVS diagnosis. Also, innovations in minimal invasive surgical procedures and the innovation of transcatheter mitral valve interventions have contributed to more effective treatment options as well as less invasive options. This goes on to augment the market size.
The healthcare infrastructure as well as access to medical services are critical elements determining the MITRAL VALVE STENOSIS market. Regions where universal healthcare systems and access to high-level cardiac care centers are the norm are most probable to see a greater adoption of the MVS treatment modalities. On the opposite, cardiac facilities facing deficit in healthcare infrastructures may develop sluggish market trends due to lack of timely and excellent cardiac care.
Regulatory aspect also plays a meaningful role in the development of the MV SCLEROSIS market. Intense scrutiny by regulators on the approval of new medical devices and treatments, tend to either create avenues or be stumbling blocks for the companies. The complying with specified regulatory guidelines helps to deliver safer and more effective treatments, and market dynamics can be impacted by the MVS treatments requiring the meeting of such requirements.
Market competition is an essential determinant of the MDD environment. The presence of a lot of players including pharmaceutical companies, medical device manufacturers, and healthcare service providers give rise to innovation and draw the market towards the trend of more diverse treatment options. Market competition sparks research and development activities that culminates in the presentation of new medicines and methods in matter of vision strategies.
Besides, economic issues like healthcare spending and reimbursement policies become also important determinants of the MTRAL VALVE STENOSIS market. Advanced treatments in the more developed economies are more accessible due to higher healthcare spending because reimbursement systems effectively determine affordability as well as the patient-related choices. Recognizing these economic factors is a must for those who are responsible for making strategic moves and keeping business afloat.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 7.7% |
Mitral Valve Stenosis Market Highlights:
Global 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.
Mitral Valve Stenosis Market Trends
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.
Mitral Valve Stenosis Market Segment Insights
The mitral valve stenosis market has been segmented into diagnostic test, treatment, and end user.
Mitral Valve Stenosis Test Insights
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
Mitral Valve Stenosis Treatment Insights
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.
Mitral Valve Stenosis End User Insights
The mitral valve stenosis market, by end user, has been segmented into hospital & clinics, diagnostic centers, and others.
Mitral Valve Stenosis Regional Insights
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.
Key Players
some prominent players in the mitral valve stenosis market are
- 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
- Siemens Healthcare
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 Segmentation
Mitral Valve Stenosis Diagnostic Test Outlook
- Electrocardiogram (ECG)
- Transthoracic Echocardiogram
- Transesophageal Echocardiogram
- Cardiac Catheterization
- Others
Mitral Valve Stenosis Treatment Outlook
- Medication
- Diuretics
- Blood Thinners
- Beta Blockers
- Anti-Arrhythmic Drugs
- Antibiotics
- Procedures
- Mitral Valvuloplasty
- Mitral Valve Surgery
- Mitral Valve Repair
- Mitral Valve Replacement
Mitral Valve Stenosis End User Outlook
- Hospital & Clinics
- Diagnostic Centers
- Others
Mitral Valve Stenosis Regional Outlook
- Americas
- North America
- US
- Canada
- South America
- Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Middle East
- Africa
Recent Development
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
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