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Annuloplasty is a type of surgical procedure to reinforce the rings around the valves in the heart. In certain conditions, the ring surrounding the valves of the heart widens and causes problems in opening and closing of the valves leading to valve regurgitations or backward leakage of blood through the valves. Valve regurgitations can be caused due to many conditions, congenital heart valve disease, heart attack, trauma, and others.
To make annuloplasty minimally invasive, devices such as rings, band, and catheter-based devices are developed. Moreover, the strategic collaborations have also aided the expansion of annuloplasty repair devices industry. For instance, in 2018, Boston Scientific, a prominent company in medical devices, merged with Millipede Inc., the company which has developed “IRIS Transcatheter Annuloplasty Ring System” which is likely to strengthen Boston Scientific’s position in mitral regurgitation treatment.
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Global annuloplasty repair devices market growth is being driven by the increase in demand for minimally invasive percutaneous mitral valve annuloplasty and favorable health reimbursement. Furthermore, the rise in the prevalence of cardiac diseases, leading to a rise in the number of cardiac surgeries is expected to further drive the global annuloplasty repair devices market growth during the forecast period. According to the American Heart Association, from the initial FDA approval in 2011 through 2014, more than 26,000 transcatheter aortic valve replacements were performed in the U.S.
On the flip side, the complications associated with the use of annuloplasty bands and stringent government regulations are the factors that can restrain the growth in global annuloplasty repair devices market.
The major companies covered in the global annuloplasty repair devices market report include Medtronic, Edwards Lifesciences Corporation, Mitralign Inc., Cardiac Dimensions Pty Ltd., Abbott, Valcare Medical, Labcor Laboratórios Ltda., Braile Biomédica, Teleflex Incorporated, Boston Scientific Corporation, CryoLife, Inc., and other players.
· Mitral valve repair devices
· Tricuspid valve repair devices
· Ambulatory surgical centers
· Speciality clinics
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
As per the current annuloplasty repair devices market trends, mitral valve repair devices among the product types are anticipated to register a higher market share in the global annuloplasty repair devices market owing to improved efficacy offered by the product type.
The global annuloplasty repair devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The annuloplasty repair devices market is anticipated to expand in North America during the forecast years owing to the fast adoption to sedentary lifestyles resulting in increased incidences of cardiac diseases. According to the American Heart Association, bicuspid aortic valve defects occur in 13.7 per 1000 people in the U.S., which is expected to drive the annuloplasty repair devices market in North America. In Europe, the emerging guidelines for the use of supportive annuloplasty device by organizations like NICE and others are projected to augment the annuloplasty repair devices market by the end of 2026. In Asia Pacific and Latin America, the evolving healthcare infrastructure and increasing awareness regarding cardiac diseases are anticipated to fuel the annuloplasty repair devices market growth during the forecast period. Additionally, annuloplasty repair devices market in Middle East and Africa is in the nascent stage; however, unmet needs for annuloplasty treatment is expected to drive the market growth in this region.
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