Increasing adoption of tricuspid valve repair being seen due to its minimally invasive nature and long-term effectiveness, says Fact.MR in its latest study.

ROCKVILLE , MD, UNITED STATES, December 6, 2024 /EINPresswire.com/ -- According to this updated study by Fact.MR, the global tricuspid valve repair market is expected to reach US$ 224 million in 2024 and thereafter expand at a CAGR of 8.1% through 2034.

Market expansion is being mainly driven by rapid advancements in high-tech equipment in the healthcare sector, increased per capita healthcare expenditure, and rising prevalence of cardiovascular diseases globally. Another significant factor driving market growth is the rising adoption of minimally invasive procedures such as annuloplasty. Manufacturers are focusing on the production of technologically sophisticated annuloplasty rings. The use of an annuloplasty ring during tricuspid valve repair procedures leads to enhanced long-term results and diminishes the recurrence of tricuspid regurgitation.

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Tricuspid regurgitation can be caused by various factors including bacterial infections, Ebstein’s anomaly, connective tissue disorders, carcinoid tumors, myxomatous degeneration, and other heart conditions that result in pulmonary hypertension. Prosthetic valves are expected to develop structural problems such as degeneration or malfunction, leading to the need for additional interventions or even repeat surgeries. These complications not only jeopardize patient health but also add to the complexity and cost of managing heart valve replacement cases.

Individual factors such as age and underlying health conditions influence the likelihood and severity of these complications, making post-operative care more complex. Anxiety and stress induced by complications related to heart valve replacement impact the overall quality of life for those who have undergone these procedures. The collective impact of complications associated with heart valve replacement such as infection risks, thrombosis, structural issues with prosthetic valves, and psychological effects can influence patients’ decisions to opt for heart valve replacements. These complications are limiting the growth of the tricuspid valve repair market.

Key Takeaways from Market Study

The global tricuspid valve repair market is projected to expand at a CAGR of 8.1% through 2034.
Demand for tricuspid valve repair procedures is set to reach a market value of US$ 224 million in 2024.
The market is forecasted to climb to US$ 487.2 million by 2034-end.
The market in North America is forecasted to expand at a CAGR of 9.8% through 2034.
Tricuspid valve stenosis is estimated to account for 67.6% market share in 2024.

“Tricuspid valve repair solution providers are focusing on the development of technologically advanced annuloplasty rings to ensure long-term care for patients. Such innovations are driving the growth of the market,” says a Fact.MR analyst.

Market Developments

Key tricuspid valve repair producers are Edwards Lifesciences, Abbott Laboratories, Valtech Cardio Ltd, Sorin S.p.A., and FOLDAX. Leading players in the tricuspid valve repair market are partnering with several well-known manufacturers globally to strengthen their market standing and thereby increase their share.

Country-wise Insights

According to Fact.MR, a market research and competitive intelligence provider, North America is expected to capture 35% of the global tricuspid valve repair market by 2034. To meet the increasing global demand, tricuspid valve repair solution providers have strategically expanded their operations into regions like Southeast Asia, Central and South America, and Australia. This broad geographic presence allows them to effectively address rising demand while minimizing reliance on a single supply source.

This expansion also helps these providers tap into emerging markets with growing healthcare needs, further boosting their market share. Additionally, their global presence enables them to leverage regional healthcare advancements and regulatory frameworks to offer more efficient and accessible treatment options.

Growth Drivers for Tricuspid Valve Repair Market

Advancements in Tricuspid Valve Repair Technologies: Continuous innovations in surgical techniques and devices, such as minimally invasive procedures and robotic-assisted surgery, are driving market growth by improving the effectiveness and safety of tricuspid valve repair.
Rising Incidence of Heart Diseases: The increasing prevalence of heart diseases, especially tricuspid valve disorders like tricuspid regurgitation, is fueling the demand for effective treatment options, contributing to the market’s expansion.

Growing Healthcare Investments: Both public and private investments in cardiovascular healthcare infrastructure are boosting the availability of advanced tricuspid valve repair treatments, enhancing the demand for these procedures globally.
Improved Awareness and Regulatory Standards: Increased awareness about heart valve disorders and advancements in diagnostic tools, along with stricter regulatory standards, are promoting the adoption of tricuspid valve repair procedures across healthcare institutions.

Aging Population and Increased Life Expectancy: The growing aging population, coupled with longer life expectancy, is leading to an increased incidence of age-related heart valve disorders, including tricuspid regurgitation, driving the demand for tricuspid valve repair treatments.
Minimally Invasive Surgical Techniques: The rising preference for minimally invasive procedures, which offer shorter recovery times, less pain, and reduced risk of complications, is further accelerating the adoption of tricuspid valve repair treatments. These techniques have become increasingly popular due to their ability to provide effective solutions with fewer risks compared to traditional open-heart surgeries.

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Checkout More Related Studies Published by Fact.MR Research:

Heart Valve Repair and Replacement Market is projected to reach a value of US$ 8,548.5 million in 2024, with a CAGR of 10.0% from 2024 to 2034. This growth is expected to propel the market to US$ 22,252.4 million by 2034, driven by advancements in minimally invasive surgical techniques and the aging global population.

Transcatheter Valve Replacement Market is currently valued at US$ 3.6 billion and is expected to grow at a robust CAGR of 13.4%, creating an absolute dollar opportunity of US$ 9.2 billion from 2022 to 2032.

About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.

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