Explosive Growth Forecast for Transcatheter Mitral Valve Implantation Market

Earlier this fall, Abbott announced the first U.S. implant of its transcatheter mitral valve (TMVI) device, Tendyne. Thie milestone is expected to help grow the global TMVI market, which was worth $9.9 million last year and is estimated to balloon to $248.2 million in 2034, growing 37.95% annually, according to GlobalData.

Mitral valve implantation offers an alternative and minimally invasive method to treat mitral valve regurgitation, stenosis or calcification, as opposed to traditional methods of commissurotomy, which requires open heart surgery. 

“Many patients with severe cases of mitral regurgitation are not eligible for open heart surgery due to the risky nature of the procedure. TMVI can provide a safer and minimally invasive option for higher risk patients,” GlobalData Medical Analyst Aidan Robertson said.

Since it is the only product on the market specifically for TMVI, Tendyne provides Abbott with significant profit potential. While other companies may seek to join the TMVI space, Abbott has a clear head start in the market, which provides an opportunity for the company to establish itself and grow its customer base to dominate the market in the future, GlobalData analysts claim.

“The TMVI market is expected to grow due to an aging population increasing the prevalence of mitral regurgitation, in addition to major companies looking to enter the market with several ongoing trials for approval, which will impact device cost and expand the market size,” Robertson noted. “Some barriers to this growth would be specifically seen in developing nations, where the prevalence of mitral regurgitation would be smaller and where accessibility to high-cost procedures such as these would be limited.” 

Transcatheter mitral valve repair (TMVR) in many cases is the preferred operation over TMVI and commissurotomy; however, TMVI is expected to be a more durable, long-lasting solution. Although TMVI will face competition from TMVR, it is expected to grow at a faster rate as it can treat a larger patient pool, addressing regurgitation, stenosis, and calcification.

“The benefits of TMVI procedures compared to existing treatment methods are garnering significant interest and are expected to drive further adoption in the healthcare space,” Robertson concluded. “With the only approved TMVI product, Abbott is in a considerably advantageous position in the market, which is expected to help the company maximize its gains before other companies begin to launch their own products.”