Portland, OR, July 25, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Mitral Valve Disease Therapeutics Market by Drug class (Beta blockers, Diuretics, Anticoagulants, Others), by Age group (Below 55 years, Above 55 years), by Distribution channel (Hospital pharmacies, Drug store and retail pharmacies, Online providers): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global mitral valve disease therapeutics market was valued at $607.7 million in 2022 and is estimated to reach $803.4 million by 2032, exhibiting a CAGR of 2.8% from 2023 to 2032.
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Prime determinants of growth
The global mitral valve disease therapeutics market is experiencing growth due to several factors, including an increase in the prevalence of mitral valve diseases, a surge in the geriatric population, and a rise in the adoption of medication. These factors contribute to improved health outcomes and reduced complications for individuals with mitral valve disease. However, the availability of alternative treatment options for mitral valve disease is hindering the growth of the therapeutics market. Conversely, there are promising growth opportunities in emerging markets that are expected to provide lucrative prospects in the industry.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $607.7 million |
| Market Size in 2032 | $803.4 million |
| CAGR | 2.8% |
| No. of Pages in Report | 268 |
| Segments covered | Drug Class, Age Group, Distribution Channel and Region |
| Drivers | Increasing prevalence of mitral valve diseases Rise in the adoption of pharmaceutical drugs to manage mitral valve disease symptoms Surge in the geriatric population |
| Opportunities | Growth opportunities in emerging markets |
| Restraints | Availability of alternative treatment options |
Covid-19 Scenario
- The pandemic led to delays in diagnosis and treatments for mitral valve disease, as many hospitals and healthcare facilities had diverted their resources toward treating COVID-19 patients.
- In addition, non-urgent procedures, including mitral valve surgeries, were delayed or cancelled in many countries, which gave way to a decrease in demand for mitral valve disease therapeutics, thereby restraining the market growth.
- However, the mitral valve disease therapeutics market observed a significant growth during the post-pandemic period, owing to the increased risk of heart diseases because of COVID infection.
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The anticoagulant segment to maintain its leadership status throughout the forecast period
Based on drug class, the anticoagulant segment held the largest share in 2022, accounting for around one-third of the global mitral valve disease therapeutics market revenue and is projected to manifest the highest CAGR of 3.3% during the forecast period. This is owing to the rise in the adoption of anticoagulants in managing the symptoms of mitral valve disease and the wide availability of direct- acting oral anticoagulants (DOACs).
The above 55 years segment is anticipated maintain its leadership status throughout the forecast period
Based on age group, the above 55 years segment held the largest share in 2022, accounting for nearly four-fifths of the global mitral valve disease therapeutics market revenue, and is projected to manifest the highest CAGR of 3.0% during the forecast period. This is due to age-related degenerative changes, rise in the ederly population, and a higher prevalence of comorbidities in this age group.
The drug stores and retail pharmacies segment to maintain its lead position during the forecast period
Based on distribution channel, the drug stores and retail pharmacies segment contributed to the largest share in 2022, accounting for more than two-thirds of the global mitral valve disease therapeutics market revenue. This is attributed to the increase in the preference of people toward retail pharmacies, as retail pharmacies happen to guide regarding medications and usage during the treatment period. However, the online providers segment is projected to register the highest CAGR of 4.0% during the forecast period, due to the rise in popularity of online pharmacies and a number of users preferring online pharmacies.
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North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting nearly two-fifths of the global mitral valve disease therapeutics market revenue, due to surge in the prevalence of mitral valve diseases and early diagnosis of valvular heart diseases. In addition, the increase in the geriatric population in North America has led to a higher incidence of heart diseases, leading to increased demand for mitral valve therapeutics. However, the Asia-Pacific region is expected to witness the fastest CAGR of 3.5% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to the growing prevalence of mitral valve disease, increasing healthcare expenditure, and growing awareness about the importance of early detection and treatment of mitral valve disease.
Leading Market Players: -
- Zydus Lifesciences Limited
- Pfizer Inc.
- Bayer AG
- Novartis AG
- Viatris Inc.
- Alembic Ltd
- Sun Pharmaceutical Industries Limited
- Cipla Ltd
- Teva Pharmaceutical Industries Ltd.
- Sanofi
The report provides a detailed analysis of these key players in the global mitral valve disease therapeutics market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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