Mitral Valve Stenosis Market Overview
The global Mitral Valve Stenosis Market share is anticipated to grow significantly over the forecast period 2018 to 2023. Mitral valve stenosis occurs when then the mitral valve opening in the heart is narrowed. The mitral valve is located on the left side of the heart between the two chambers namely the atrium and the ventricle. In this condition, enough amount of blood does not flow through the mitral valve. Scarring caused by rheumatic fever is considered to be the major cause of mitral valve stenosis. The growing prevalence of heart diseases, increasing occurrences of rheumatic fever, technological advancements coupled with the introduction of novel mitral valves are anticipated to boost the growth of the market during the assessment period. According to a study by researchers at the Stanford University School of Medicine in 2017, it was found that more than 50,000 people in the United States undergo either aortic- or mitral valve replacement surgery each year. On the other hand, the stringent government regulation for drug and medical device approval and the high cost of mitral valve surgeries may hamper the growth of the market.
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Regional Analysis
The market in the Americas is expected to dominate the global mitral valve stenosis market. The market growth in this region is majorly attributed to the presence of well-established healthcare sector, rising prevalence of cardiac diseases, increasing preference for minimally invasive surgeries, and growing healthcare expenditure. Europe is anticipated 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 heart diseases and rising expenditure for the healthcare sector. According to the UK factsheet August 2018 by the British Heart Foundation, there are about 7 million people living with heart and circulatory diseases in the UK. Asia-Pacific mitral valve stenosis market is anticipated to be the fastest growing market. Rising burden of heart diseases, improvement in clinical trial regulations, increasing preference for advanced medical technologies, the rise in medical tourism, and increasing investments in the healthcare sector are anticipated to drive the market growth in this region. The Middle East & Africa has the least market share in the global mitral valve stenosis market.
Segmentation
The global mitral valve stenosis market has been segmented into diagnostic tests, treatment, and end user.
The global market, on the basis of diagnostic tests, has been segmented into electrocardiogram (ECG), transthoracic echocardiogram, transesophageal echocardiogram, cardiac catheterization, and others.
The global market, on the basis of 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 anticipated to hold the largest market share on the basis of treatment due to the growing number of companies engaged in the development of medical devices for mitral valve stenosis.
The global market, by end user, has been segmented into hospital & clinics, diagnostic centers, and others.
Key Players
Some of the key players in the global 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., Braun Melsungen AG, JenaValve Technology, Siemens Healthcare, and Micro Interventional Devices, Inc.
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