Tricuspid Valve Repair Market

Tricuspid Valve Repair Market Outlook (2022-2032)

The global tricuspid valve repair market is set to enjoy a valuation of US$ 182.7 million in 2022 and further expand at a CAGR of 9.4% to reach US$ 446.5 million by the end of 2032.

Demand for tricuspid valve repair is directly reliant on the need for minimally-invasive heart surgeries, for which, Europe stands out as one of the most favorable markets.

Report Attributes	Details
Tricuspid Valve Repair Market Size (2021A)	US$ 167.7 Million
Estimated Market Value (2022E)	US$ 182.7 Million
Forecasted Market Value (2032F)	US$ 446.5 Million
Global Market Growth Rate (2022-2032)	9.4% CAGR
North America Market Share (2021)	~ 13.1%
Europe Market Growth Rate (2022-2032)	~ 11.1% CAGR
United States Market Growth Rate (2022-2032)	~ 6.4% CAGR
Market Share of Top 5 Companies	~ 22.3%
Key Companies Profiled	Edwards Lifesciences Abbott Laboratories Valtech Cardio Ltd Sorin S.p.A. CroiValve FOLDAX

Revenue Analysis of Tricuspid Valve Repair (2017-2021) Vs. Market Forecasts (2022-2032)

Ever-changing eating habits and lifestyles of the global population have been the prominent reasons behind the upsurge in cardiovascular diseases. To maintain or provide sufficient blood flow to the heart, the procedure of tricuspid valve repair grew at a significant pace during the historical period. Additionally, the escalating geriatric population across the world has created a huge need for tricuspid valve repair procedures over the period 2017 to 2021.

These factors have amplified revenue from tricuspid valve repair during the historical period at a CAGR of 8%.

The intensifying awareness and demand for minimally-invasive heart surgeries among the global population will support the growth of the tricuspid valve repair market. In addition, observed post-operative complications due to invasive open heart surgery will support market growth to a greater extent.

Fact.MR predicts that the global tricuspid valve repair market will be valued at US$ 446.5 million by 2032, expanding at a CAGR of 9.4% over the decade.

• Short Term (2022-2025): Increasing cardiovascular diseases will generate the need for tricuspid valve repair in the near forecast period. The market will garner an absolute dollar opportunity of US$ 72 million during the short-term period.
• Medium Term (2025-2028): The tricuspid valve repair market will observe significant growth during the medium term owing to the huge demand for minimally-invasive heart surgeries.
• Long Term (2028-2032): Enormous investments in R&D and technological advancements in the healthcare industry will support innovation in tricuspid valve repair.

From 2017 to 2021, revenue from tricuspid valve repair registered a CAGR of 8%, according to Fact.MR, a market research and competitive intelligence provider. Projections are that the market is will expand rapidly at 9.4% CAGR through 2032.

Market share analysis of tricuspid valve repair based on indication and region. Under the indication segment, tricuspid valve stenosis leads with 66.2% market share in 2022.

Why is the Need for Tricuspid Valve Repair Here to Stay?

“Emergent Focus on R&D for Introduction of Novel Tricuspid Valve Repair Devices”

The revealing post-surgery complications of invasive open heart surgery have pushed cardiovascular manufacturers to introduce innovations in tricuspid valve repair. This minimally-invasive procedure will further disturb the existing choice of procedures and will come to be the main segment in the target market.

These minimally-invasive products are preferred in clinical trials as key inputs suggested by heart surgeons.

• For example, a novel transcatheter tricuspid valve repair system (TTVR) manufactured by Abbott with the brand name TriClip has been clinically verified in patients with serious tricuspid regurgitation.

As the growing geriatric population is one of the factors behind market growth, these novel systems will gain popularity for patients above the age of 60 and for those who have an intolerance to open heart surgery.

“Escalation of Cardiovascular Surgeries among Global Population Will Speed Up Market Growth”

Rising healthcare spending among developed and developing regions has amplified the number of surgical procedures, which has enhanced the global tricuspid valve repair market.

A projected 2.5 million patients have moderate or severe tricuspid valve regurgitation in the U.S. and the yearly occurrence number is nearly 200,000 new patients. Timely analysis in patients with tricuspid stenosis and tricuspid regurgitation would permit doctors to treat those with heart valve defects, especially tricuspid valve repair using surgery.

Additionally, the changing eating habits and lifestyles among the global population led to ascending severe cardiovascular diseases. It has been seen that, in the year 2020, around 697,000 people died from cardiovascular diseases in the United States. These growing cardiovascular diseases across the globe will upsurge market demand over the forecast period. Additionally, government initiatives to control deaths caused by cardiovascular diseases will become a supporting factor for market growth.

Which Factor Can Dent Market Growth Prospects to Some Extent?

“Risks Associated with Tricuspid Valve Repair”

As all healthcare surgeries are associated with some risks, tricuspid valve repair also has some drawbacks that cannot be ignored. Patients associated with tricuspid valve repair may observe blood clots, irregular heart rhythms, bleeding, failure of the repaired valve, infections, and stroke. In severe conditions, it may even cause death. These post-surgery complications related to tricuspid valve repair will have a negative impact on the market to some extent.

Hence, tricuspid valve repair product manufacturers need to invest in R&D and clinical studies to minimize or eliminate the risk of the tricuspid valve repair procedure.

Country-wise Insights

Will Rise in Cardiovascular Cases in Europe Drive Higher Demand for Tricuspid Valve Repair?

The tricuspid valve repair market in Germany is expected to expand at a CAGR of 13.1% from 2022 to 2032. The observed high market growth is due to the rising demand for treating tricuspid valve stenosis and tricuspid valve regurgitation.

This can be attributed to the growing demand for treating tricuspid valve regurgitation and tricuspid valve stenosis problems. Also, high spending on healthcare in Germany is boosting market growth. Additionally, European companies are adopting inorganic as well as organic growth tactics such as mergers and acquisitions, thereby backing market growth in the region.

Why is the APAC Market for Tricuspid Valve Repair Highly Opportunistic?

APAC accounted for 29.7% share of the global tricuspid valve repair market at the end of 2021. Growing population, changing lifestyles, and erratic eating habits in East Asia, South Asia, and the ASEAN region are anticipated to lead to a higher incidence of cardiovascular diseases. As such, APAC will become an opportunistic region for market players.

Increasing healthcare spending as well as government initiatives will support the demand growth for tricuspid valve repair in China.

Category-wise Insights

For Which Condition is Tricuspid Valve Repair Most Widely Used?

The tricuspid valve repair market, under indication, is categorized into tricuspid valve regurgitation and tricuspid valve stenosis. Amongst them, the tricuspid valve stenosis segment held a higher market share of 65.3% in 2021 and is expected to exhibit a CAGR of 10.4% during the forecast years of 2022-2032.

In tricuspid valve stenosis, blood flow obstruction is observed from the right atrium to the right ventricle owing to the tapering of the tricuspid orifice. This can become a grievous condition that may further cause serious health problems. Therefore, to avoid future complications, there is a need to repair that tricuspid valve.

Will Hospitals Continue Driving High Demand Growth?

In terms of end user, tricuspid valve repair is segmented into hospitals, ambulatory surgical centers, and cardiac catheterization laboratories. The hospitals segment holds a majority of the share in the global market. It is anticipated to follow the same trend during the forecast period. The hospitals segment is projected to account for 89.4% share of the market by 2032.

Most treatments for tricuspid valve stenosis as well as tricuspid valve regurgitation are carried out in hospitals as compared to other surgical centers. Also, high patient trust in the services provided by hospitals is supporting the growth of the segment.

Competitive Landscape

Prominent tricuspid valve repair providers are Edwards Lifesciences, Abbott Laboratories, Valtech Cardio Ltd, Sorin S.p.A., CroiValve, and FOLDAX.

The tricuspid valve repair market has several players competing with each other to achieve a noticeable position among end users. Apart from this, market players are also occupied with launching novel techniques and devices, which is crucial to increase revenue from the enormous customer base.

Additionally, market peers are focusing on business expansion activities through mergers, partnerships, acquisitions, and collaborations. These strategies help companies explore unexploited market opportunities.

• In April 2020, U.S.-based Abbott Laboratories announced that European CE mark clearance has been given to its TriClip Transcatheter Tricuspid Valve Repair (TTVR) System. This system is used as a non-surgical treatment option for people suffering from tricuspid valve regurgitation (TR).

Fact.MR has provided detailed information about the price points of key tricuspid valve repair market players positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Tricuspid Valve Repair Industry Research

• By Indication :

  • Tricuspid valve regurgitation
  • Tricuspid valve stenosis

• By End User :

  • Hospitals
  • Ambulatory Surgical Centers
  • Cardiac Catheterization Laboratories

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & ASEAN
  • Oceania
  • MEA