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Global Tricuspid Valve Repair Market Size, Trends, Research, Report: By Procedure Type: Surgical Repair, Transcatheter Repair; By Patient Condition: Valvular Disease, Structural Abnormalities; By Approach: Traditional, Minimally Invasive; By End User: Hospitals, Ambulatory Surgical Centers; Regional Analysis; Supplier Landscape; 2024-2032
Global Tricuspid Valve Repair Market Outlook
The global tricuspid valve repair market size was valued at USD 645.41 million in 2023, driven by the rising number of congenital heart disorders across the globe. The market size is anticipated to grow at a CAGR of 6.1% during the forecast period of 2024-2032 to achieve a value of USD 1,099.69 million by 2032.
Tricuspid Valve Repair: Introduction
Surgeries that are performed to treat damaged or diseased tricuspid valve are known as tricuspid valve repair. It is one of four valves that control blood flow through the heart. It separates the upper and lower right chambers of the heart (right atrium and right ventricle). A damaged or diseased tricuspid valve can interfere with the proper direction of blood flow. The heart must work harder to send blood to the lungs and the rest of the body.
Tricuspid valve repair and tricuspid valve replacement can help improve blood flow and reduce symptoms of heart valve disease. Tricuspid valve repair or replacement may be done as open-heart surgery or as a minimally invasive heart surgery. Sometimes, tricuspid valve disease may be treated with a catheter-based procedure.
Global Tricuspid Valve Repair Market Analysis
The increasing technological advancements in the treatment approaches for tricuspid valve repair is expected to influence the market growth. The pharmaceutical companies are increasingly participating in the development of new technologies and products that are expected to boost the global tricuspid valve repair market growth. For instance, Abbott has released TriClip™ transcatheter edge-to-edge repair (TEER) system, which is a first-of-its kind minimally invasive device, designed specifically for tricuspid heart valve repair. After getting through several observations, this new product has proven it efficacy with high percentage.
The increase in per-person healthcare spending across the globe is anticipated to expand the market growth. The expanding utilization of annuloplasty systems that are implanted around an incompetent cardiac valve to revive the blood flow in heart is expected to directly contribute to the market expansion.
Global Tricuspid Valve Repair Market Segmentations
Market Breakup by Procedure Type
- Surgical Repair
- Transcatheter Repair
Market Breakup by Patient Condition
- Valvular Disease
- Structural Abnormalities
Market Breakup by Approach
- Traditional
- Minimally Invasive
Market Breakup by End User
- Hospitals
- Ambulatory Surgical Centers
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Tricuspid Valve Repair Market Overview
The increasing prevalence of cardiovascular diseases globally is driving the market growth as they are the leading cause of cardiovascular morbidity and mortality and a major factor responsible for symptoms and functional disability. The adoption of minimally invasive surgical procedures is also driving the market growth. The increasing integration of technological advancement in the surgical equipment for tricuspid are driving the growth of the global tricuspid valve repair market. The integration of advanced technologies such as artificial intelligence AI is expected to boost the global tricuspid valve repair market growth as it helps to enhance the surgical decision-making before, after, and even during a surgical procedure. The increasing geriatric population is expected to boost the market growth as well. The research and development activities are also increasing globally to find better and effective solutions for tricuspid valve repair surgery, further propelling the market growth.
Geographically, North America is leading the regional market for tricuspid valve repair. The increasing prevalence of cardiovascular diseases is contributing to the market growth. Nearly 16.3 million Americans aged 20 and older suffer with Congenital Heart Defects CHDs with a 7% prevalence rate. The prevalence for men and women is 8.3% and 6.1% respectively, propelling the market growth.
Tricuspid Valve Repair Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Edwards Lifesciences Corporation
- Medtronic plc.
- Abbott Laboratories
- Boston Scientific Corporation
- LivaNova PLC
- CryoLife Inc.
- Micro Interventional Devices, Inc.
- Neovasc Inc.
- NaviGate Cardiac Structures Inc.
- TTK Healthcare Limited
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Procedure Type |
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| Breakup by Patient Condition |
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| Breakup by Approach |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Tricuspid Valve Repair Market Overview
3.1 Global Tricuspid Valve Repair Market Historical Value (2017-2023)
3.2 Global Tricuspid Valve Repair Market Forecast Value (2024-2032)
4 Global Tricuspid Valve Repair Market Landscape
4.1 Global Tricuspid Valve Repair Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Tricuspid Valve Repair Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Drug Class
4.2.3 Analysis by Route of Administration
5 Global Tricuspid Valve Repair Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Tricuspid Valve Repair Market Segmentation
6.1 Global Tricuspid Valve Repair Market by Procedure Type
6.1.1 Market Overview
6.1.2 Surgical Repair
6.1.3 Transcatheter Repair
6.2 Global Tricuspid Valve Repair Market by Patient Condition
6.2.1 Market Overview
6.2.2 Valvular Disease
6.2.3 Structural Abnormalities
6.3 Global Tricuspid Valve Repair Market by Approach
6.3.1 Market Overview
6.3.2 Traditional
6.3.3 Minimally Invasive
6.4 Global Tricuspid Valve Repair Market by End User
6.4.1 Market Overview
6.4.2 Hospitals
6.4.3 Ambulatory Surgical Centers
6.5 Global Tricuspid Valve Repair Market by Region
6.5.1 Market Overview
6.5.2 North America
6.5.3 Europe
6.5.4 Asia Pacific
6.5.5 Latin America
6.5.6 Middle East and Africa
7 North America Tricuspid Valve Repair Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Tricuspid Valve Repair Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Tricuspid Valve Repair Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Tricuspid Valve Repair Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Tricuspid Valve Repair Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Edwards Lifesciences Corporation
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisition
17.1.5 Certifications
17.2 Medtronic plc.
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisition
17.2.5 Certifications
17.3 Abbott Laboratories
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisition
17.3.5 Certifications
17.4 Boston Scientific Corporation
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisition
17.4.5 Certifications
17.5 LivaNova PLC
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisition
17.5.5 Certifications
17.6 CryoLife Inc.
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisition
17.6.5 Certifications
17.7 Micro Interventional Devices, Inc.
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisition
17.7.5 Certifications
17.8 Neovasc Inc.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisition
17.8.5 Certifications
17.9 NaviGate Cardiac Structures Inc.
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisition
17.9.5 Certifications
17.10 TTK Healthcare Limited
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisition
17.10.5 Certifications
18 Global Tricuspid Valve Repair Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 645.41 million in 2023, driven by the increasing geriatric population.
The market is anticipated to grow at a CAGR of 6.1% during the forecast period of 2024-2032, and likely to reach a market value of USD 1,099.69 million by 2032.
The increasing prevalence of cardiovascular diseases and congenital heart defects is among the major factors driving the market growth.
The increasing adoption of minimally invasive diseases and emerging new technological innovations are the major trends influencing the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.
The procedures include surgical repair and transcatheter repair.
The patient conditions include valvular disease and structural abnormalities.
Different approaches include traditional and minimally invasive.
The end users in the market include hospitals and ambulatory surgical centers.
Key players involved in the market are Edwards Lifesciences Corporation, Medtronic plc., Abbott Laboratories, Boston Scientific Corporation, LivaNova PLC, CryoLife Inc., Micro Interventional Devices, Inc., Neovasc Inc., NaviGate Cardiac Structures Inc., and TTK Healthcare Limited.
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