Market Trends of Annuloplasty System Industry
This section covers the major market trends shaping the Annuloplasty System Market according to our research experts:
Mitral Valve Repair is Expected to Witness Growth During the Forecast Period
Mitral valve repair is a type of surgery to fix or replace a leaky or stiff mitral valve in the heart. The mitral valve is between the left heart chambers (left atrium and left ventricle). Mitral valve repair may be done as open-heart or minimally invasive heart surgery (annuloplasty). Mitral valve repair is most commonly preferred by doctors as it puts less stress on the heart. Moreover, according to an article published in BMJ Journal in June 2021, a case study suggested that the prognosis following mitral valve annuloplasty to treat atrial secondary mitral regurgitation is good, as reflected by lower all-cause mortality and mitral regurgitation recurrence. As doctors most commonly prefer mitral valve repair, the adoption of this procedure is likely to increase among the target population, ultimately driving market growth.
In addition, according to an article published in the journal of the National Library of Medicine in June 2022, a case study was performed on heart disease patients. The study showed that mitral valve repair had lower perioperative mortality than mitral valve replacement. Thus, the increasing advantages of mitral valve repair over other procedures are creating opportunities for future growth of the segment.
Furthermore, continuous R&D activities by major players in the market are positively affecting the segment's growth. For instance, in April 2021, LivaNova PLC, a market-leading medical technology and innovation company, announced that they had randomized the 300th patient in the autonomic regulation therapy to enhance myocardial function and reduce the progression of heart failure with reduced ejection fraction (ANTHEM-HFrEF) pivotal study, which the United States FDA approved under the Breakthrough Devices Program. Further, in September 2021, Affluent Medical announced the success of the first-ever Kalios mitral ring adjustment on a patient suffering from a post-operative recurrence of severe mitral insufficiency.
Therefore, the mitral valve repair segment is expected to witness significant growth during the forecast period due to the abovementioned factors.
North America is Dominating the Annuloplasty System Market
North America is dominating the market owing to factors such as the easy availability of technologically advanced products and high awareness among patients about valve repair surgeries or annuloplasty. An increase in the geriatric population in the United States is among the key factors contributing to the growth of the market studied in North America.
For instance, according to the data from Organisation for Economic Co-operation and Development (OECD) published in 2022, the population aged 65 or older as a percentage of the total population increased to 16.83% in 2021 in the United States. Furthermore, according to Population Reference Bureau, the United States population is growing older, and the gender gap in life expectancy is narrowing. These statistics suggest that the rising geriatric population in the region is anticipated to drive market growth in the country.
Therefore, owing to the aforementioned factors, the market's growth is anticipated in the North America Region.
