The global incidence of valvular heart defects in the ageing geriatric population will give an upswing to the demand for annuloplasty procedures for tricuspid valve repair. According to WHO, 2.0% of global deaths from cardiovascular diseases are related to rheumatic heart disease. Innovations in minimally invasive procedures are executed to spur the adoption of tricuspid valves. Artificial valves are gaining prominence as it is becoming increasingly feasible to solve fluid dynamics problems and simulate flow within an artificial heart valve. The availability of computational tools can also be used to approximate fluid mechanics parameters such as turbulence and regurgitation volumes and pressure drops. On the back of these aforementioned factors, the tricuspid valve repair market is estimated to grow at a dexterous CAGR of 10.0% during the forecast period (2019-2029).
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Key Takeaways of Tricuspid Valve Repair Market Study
- By product type, annuloplasty rings are primarily used in tricuspid valve repair. This is primarily attributed 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 anticipated to exhibit notable CAGR, owing to the availability of approved products to treat tricuspid valve defects.
- The hospitals segment has maintained its supremacy in the tricuspid valve repair market, which is attributed to the presence of state-of-the-art, cutting-edge technologies for tricuspid valve surgical procedures to treat tricuspid valve defects.
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“Increasing research & development funding and acquisition strategies adopted by major players to expand their regional presence is anticipated to favor the tricuspid valve repair market growth.” says the Fact.MR Analyst.
Acquisition and Product Portfolio Expansion are the Key Strategies Followed by Market Players
Tricuspid valve repair device manufacturers are focusing on mergers and acquisitions, which can give them a broader spectrum of product offerings, enhanced capabilities, and large-scale manufacturing. In 2017, Edwards Lifesciences acquired Israel based Valtech Cardio, a developer of Cardioband System for Transcatheter repair of mitral and tricuspid valves. With the growing investments in healthcare infrastructure and technological advancements, manufacturers are also focusing on research & development investments to innovate new procedures and medical devices used in tricuspid valve repair.
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The research study on the tricuspid valve repair market by Fact.MR incorporates an unbiased assessment of key demand-driving factors and trends, which have shaped the landscape of the tricuspid valve repair market over 2014 – 2018, and includes a detailed assessment of key parameters that are anticipated to exert influence during 2019 – 2029. Market statistics have been presented on the basis of product type (annuloplasty rings), Indication (tricuspid valve regurgitation, and tricuspid valve stenosis) and end-user (hospitals, ambulatory surgical centers, and cardiac catheterization laboratories) across major countries of key regions.
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