Market Brief: Innovation Will Drive 13% Growth In Global Transcatheter Mitral Valve Repair Market by 2023, Outpacing Growth Of TAVR
The transcatheter heart valve management products market will reach $6.7bn by 2023, driven by the rising prevalence of heart disease. Transcatheter aortic valve replacement (TAVR) procedures lead the market, but innovation and rising competition, including from companies in China and India, will fuel double-digit growth in the much smaller mitral valve repair market, dominated by Abbott's MitraClip.
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Registry data from France shows transcatheter aortic valve replacement patients have better outcomes with Edwards’ Sapien balloon-expandable valves than with Medtronic’s CoreValve self-expanding valves.
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Sales of Sapien transcatheter aortic valves grew about 27% year over year in the third quarter of 2019 while revenues from Edwards’ transcatheter mitral and tricuspid therapies grew to almost $10m, led by sales of the Pascal transcatheter mitral repair system in Europe.