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Mitral valve stenosis (MVS), a disease state in which the mitral valve in the heart becomes narrow, is one of the conditions that is still commonly seen in clinical practice with the growing demand for treatment getting better. The market dynamics for point-of-care solutions in mitral valve stenosis are driven by diverse influences consisting of the technological improvements, healthcare infrastructure as well as the continually rising awareness of both healthcare providers and patients.
Technological advancement and changing medical devices are crucial factors influencing the dynamics. Progress in diagnosis tools and treatment methodology has facilitated the application of more precise and effective point-of-care techniques for mitral valve stenosis. Technologies such as portable echocardiography devices and point-of-care ultrasound machines now exist which facilitate quicker and more accessible diagnosis which get to the bottom of a patient’s problem quickly and improve patient outcomes. Therefore, these technical innovations not only increase the efficiency of medical delivery mechanisms but also support the general development of mitral valve stenosis market.
The health care infrastructure is a key component in addressing the availability of mitral valve points of care for people with stenosis of the valve. Those regions which already have a developed healthcare environment will probably be able to use these solutions and incorporate them into the routine clinical practice much more successfully. The penetration into the market of developed countries increases due to their quality of infrastructure which is advanced, while emerging economies have resource availability and skill problems in the healthcare professionals’ sector. Therefore, the market dynamics are essentially dependent upon the health disparities of facilities between different regions.
The significant part of the market dynamics has been the growth of knowledge among health care providers and patients regarding mitral valve stenosis. To keep up with expanding medical knowledge and momentum in health awareness campaigns, there is a gradual shift to detecting cardiovascular conditions including mitral valve stenosis at early stages. It does not only cause the demand for point-of-care solutions but also pushes research and ploughing into technological innovations such as improvement of current tech and development of new more efficient diagonistic and therapeutic technologies.
Besides that, much of the pattern of market growth is shaped by the surrounding regulatory environment for the point-of-care solutions aimed at stenosis of mitral valve. Following strict regulatory procedures and approval protocols that guarantee the effectiveness and security for these medical devices, the confidence of both doctors and patients is restored. Regulation is one of the essential factors which determine the entry and competition of manufacturers, and thus regulates the entire mitral valve stenosis market stability and reliability.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Diagnostic Test, Treatment, and End user. |
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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