PUBLISHER: Allied Market Research | PRODUCT CODE: 1344398
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344398
According to a new report published by Allied Market Research, titled, "Mitral Valve Disease Therapeutics Market," The mitral valve disease therapeutics market was valued at $607.74 million in 2022, and is estimated to reach $803.4 million by 2032, growing at a CAGR of 2.8% from 2023 to 2032.
The major factor driving the growth of the mitral valve disease therapeutics market is increase in prevalence of mitral valve conditions. There has been an increase in the number of patients diagnosed with mitral valve diseases such as mitral regurgitation, mitral prolapse, and mitral stenosis. For instance, Journal of Clinical Medicine 2022, stated that, mitral regurgitation is the second most common valvular heart disease in Europe and the most common in the U.S., with a prevalence of 9.3% in the population aged over 75 years. Thus, rise in prevalence of mitral valve conditions results in demand for therapeutics and propels the market growth.
Further, mitral valve disease can be caused by various factors, such as rheumatic fever and congenital heart defects. Rheumatic fever is an inflammatory disease that can occur after a streptococcal infection, leading to inflammation that can spread to the heart, causing damage to the heart valves, including the mitral valve. Thus, this damage can lead to mitral valve disease, which can cause symptoms such as shortness of breath, fatigue, chest pain, and heart palpitations. In addition, congenital heart defects are structural abnormalities that are present at birth. Some congenital heart defects can affect the function of the mitral valve, leading to mitral valve disease. Thus, to manage the symptoms of mitral valve disease, therapeutics such as beta blockers, diuretics, and calcium channel blockers are prescribed, thereby driving the growth of the market.
Furthermore, rise in mitral valve replacement procedures and adoption of therapeutics is expected to propel the market growth. For instance, anticoagulants are commonly used to manage mitral valve disease and prevent blood clots, which can lead to serious complications such as stroke. Thus, rise in adoption of anticoagulants drives the market growth.
Further, rise in the incidence of mitral valve diseases can be attributed to several factors, such as aging population and increase in risk factors such as high blood pressure, diabetes, and obesity. As the population ages, the risk of developing mitral valve disease increases. This is because the valve can become damaged or weakened over time, making it more prone to malfunction. In addition, the rise in risk factors such as high blood pressure and obesity can increase the risk of developing mitral valve disease. Moreover, rise in awareness of mitral valve diseases among patients and healthcare professionals has led to earlier diagnosis and treatment, driving demand for medical interventions. Governments around the world are investing in research and development of new treatments for mitral valve disease, which has led to the development of novel therapeutics.
In addition, increased awareness about the symptoms and risk factors associated with mitral valve disease has led to more people seeking medical treatment for the condition, which has further driven the growth of the market. However, availability of other treatment options for mitral valve disease is expected to restrain the growth of mitral valve disease therapeutics market. There are several alternative treatment options available for mitral valve disease, such as surgical interventions and transcatheter procedures. These alternative options may be preferred by some patients or may be recommended by healthcare providers based on individual patient needs, thus restraining the growth of market.
The global mitral valve disease therapeutics market is segmented into drug class, age group, distribution channel, and region. On the basis of drug class, the market is categorized into beta blockers, diuretics, anticoagulants, and others. As per age group, the market is categorized into below 55 years and above 55 years. According to distribution channel, the market is segregated into hospital pharmacies, drug stores and retail pharmacies, and online providers. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global mitral valve disease therapeutics market are Zydus Lifesciences Limited, Pfizer Inc., Bayer AG, Novartis AG, Viatris Inc., Alembic Ltd., Teva Pharmaceutical Industries Ltd., Cipla Ltd., Sun Pharmaceutical Industries Limited, and Sanofi.