Mitral Valve Disease Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 19, 2024 /EINPresswire.com/ -- The global mitral valve disease market has experienced robust growth in recent years, expanding from $2.75 billion in 2023 to an expected $3 billion in 2024, at a compound annual growth rate (CAGR) of 9.1%. This growth can be attributed to various factors, including patient education initiatives, favorable reimbursement policies, increased healthcare expenditure, rising awareness and screening efforts, and the expanding presence of market players.
Increasing Prevalence of Vascular Heart Diseases Driving Market Expansion The mitral valve disease market is anticipated to continue its strong growth trajectory, projected to reach $4.32 billion by 2028, with a CAGR of 9.6% during the forecast period. The primary driver of this growth is the increasing prevalence of vascular heart diseases, which indirectly lead to mitral valve disease by compromising heart function and structure. Conditions such as ischemic heart disease and hypertension are major contributors, driven by a complex interplay of lifestyle choices, demographic changes, and genetic factors. For instance, data from the Australian Bureau of Statistics 2020-21 National Health Survey revealed that 571,000 adults in Australia were living with coronary heart disease (CHD), with prevalence significantly increasing with age.
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Key Players and Technological Advancements in the MarketMajor companies in the mitral valve disease market, including Pfizer Inc., Bayer AG, Abbott Laboratories, and Medtronic plc, are focusing on developing innovative stented tissue valves to meet the growing demand for minimally invasive treatment options. These valves, designed to offer durable performance, are emerging as alternatives to traditional surgical interventions. For instance, in September 2021, Abbott Laboratories received FDA approval for its Epic Plus and Epic Plus Supra stented tissue valves, which are based on advanced technologies such as anti-calification and a FlexFit polymer stent to improve patient outcomes during mitral valve disease treatments.
Technological Innovations and TrendsThe market is witnessing significant trends, including advancements in transcatheter technologies and surgical procedures. These technological innovations are expected to enhance treatment outcomes and expand the adoption of minimally invasive techniques, driving further market growth during the forecast period.
Segments:• Treatment Type: Mitral Valve Repair, Mitral Valve Replacement, Cardiac Resynchronization Therapy, Mitral Valve Therapeutics• Indication: Mitral Valve Stenosis, Mitral Valve Prolapse, Mitral Valve Regurgitation• End-User: Hospitals, Ambulatory Surgical Centers, Other End-Users
Geographical Insights: Europe Leading the MarketIn 2023, Europe was the largest region in the mitral valve disease market, benefitting from well-established healthcare infrastructure and a high prevalence of cardiovascular diseases. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by increasing healthcare investments, rising awareness, and improving medical facilities.
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Mitral Valve Disease Global Market Report 2024 from TBRC covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Mitral Valve Disease Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on mitral valve disease market size, mitral valve disease market drivers and trends, mitral valve disease market major players, competitors' revenues, market positioning, and market growth across geographies. The mitral valve disease market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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August 19, 2024, 16:00 GMT
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