In a recent market study, Fact.MR covers recent developments in the global tricuspid valve repair market, highlighting vital aspects such as trends, drivers, opportunities, and restraints.
Europe Is Witnessing Rampant Adoption With Germany Accounting For 18% Of The Tricuspid Valve Repair Market Share
In a recent market study, Fact.MR covers recent developments in the global tricuspid valve repair market, highlighting vital aspects such as trends, drivers, opportunities, and restraints. The report studies recent developments in the segments of the market in terms of product, indication, end-user and region.
Fact.MR – A Market Research and Competitive Intelligence Provider: Tricuspid valve repair devices manufacturers are quickly shifting from development of devices which needs invasive open-heart surgeries to minimally invasive surgeries on the back of less post-operative complications and minimum risk associated.
Approval is still having to be received for using products developed by companies such as transcatheter tricuspid valve repair system. These products are highly picked in clinical trials based on key inputs given by heart surgeons. This develop the new trend in the tricuspid valve repair market.
These systems will help patients above the age of 60 or patients who are biased to open heart surgery for tricuspid valve repair in the course of time. Minimally invasive treatments will agitate the previous choice of treatments and will become a major segment in the tricuspid valve repair market.
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According to the WHO, year-on-year increases in global healthcare spending are larger than year-on-year increases in GDP, particularly in low- and middle-income countries. This is attributed to an increase in worldwide per capita income.
In the United States, an estimated 2.5 million people suffer from moderate or severe tricuspid regurgitation, with about 200,000 new cases diagnosed each year.
By end –user, hospitals are expected to maintain their hegemony in the tricuspid valve repair market on the back of intensive pervasiveness of open heart and minimally invasive surgeries. Hospitals alone is expected to capture 88% of the market share and are projected to show a positive growth in the market trend.
| Report Attributes | Values |
| Market Size Value in 2022 | US$ 113.0 Mn |
| Projected Market share in Europe | 18% |
| Global Growth Rate (2022 to 2029) | 10% CAGR |
Key Takeaways:
- By product type, annuloplasty rings are used in tricuspid valve repair. This is associated to the absence of other approved medical devices to repair tricuspid valves in the heart.
- Germany and France will hold 13.1% and 11.1% of the global tricuspid valve repair share. Germany is expected to extend notable CAGR, owing to the presence of approved products to treat tricuspid valve defects.
- The hospitals segment has maintained its legacy in the scope of tricuspid valve repair market, which is associated to the availability of state-of-the-art, cutting-edge technologies for tricuspid valve surgical procedures to treat tricuspid valve defects.
Growth drivers:
- Rising global spending on healthcare has increased the number of surgical procedures which has boosted global tricuspid valve repair market.
- 90% surgeries for tricuspid valve repair are done along with mitral valve disease or aortic stenosis and remaining surgeries are performed for tricuspid valve repair. This develops the trend of the tricuspid valve repair market growth.
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Competitive landscapes:
- In January, 2017 Edwards Lifesciences acquired Israel based Valtech Cardio, a developer of Cardioband system.
- In a recent acquisition activity, Sorin S.p.A., based in Italy, a global medical device company specialized in development and manufacturing of cardiovascular medical devices, associated with Cyberonics, Inc., a specialized player in neuromodulator medical devices to form LivaNova plc. Post-merger, LivaNova plc has a scope of the market presence in over 100 countries around the world with approximately 4,500 employees.
Such acquisitions and mergers will help companies to strengthen their market dominance in the global tricuspid valve repair market trend.
Key Players in the Tricuspid Valve Repair Market Include:
- Edwards Lifesciences
- Sorin S.p.A
- Cyberonics Inc.
- LivaNova plc.
More Valuable Insights on Tricuspid Valve Repair Market
Fact.MR provides an unbiased analysis of the tricuspid valve repair market, presenting forecast statistics for the period from 2022-2029. The study divulges compelling insights on the global tricuspid valve repair market with a detailed segmentation on the basis of:
Product Type
- Annuloplasty rings
Indication
- Tricuspid Valve Regurgitation
- Tricuspid Valve Stenosi
End User
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Key Questions Covered in Tricuspid Valve Repair Market Report
- The market survey also highlights projected sales growth for Tricuspid valve repair market between 2022 and 2029
- The report offers insight into Tricuspid valve repair for forecast period 2022-2029
- Tricuspid valve repair market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Tricuspid valve repair market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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