Abbott announced the first commercial implant of Tendyne, a transcatheter mitral valve implant, in the US. This is expected to help grow the transcatheter mitral valve implantation (TMVI) market, which was worth $9.9m in 2024 and is estimated to reach $248.2m in 2034 with a compound annual growth rate of 37.95%, according to GlobalData, a leading data and analytics company. Currently, Tendyne is the only product on the market specifically for TMVI, which gives it major 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 it to establish itself and grow its customer base to dominate the market in future.
The TMVI market is expected to grow due to an ageing 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 affect device cost and expand the market size. 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. Mitral valve implantation offers an alternative and minimally invasive method to treating mitral valve regurgitation, stenosis, or calcification, as opposed to traditional methods of commissurotomy that require 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. Thus, TMVI can provide a safer option for higher-risk patients. 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 and long-lasting solution. Still, TMVI would face competition from TMVR. Due to the larger patient pool for TMVI being able to treat regurgitation, stenosis, and calcification, it is expected that TMVI to grow at a faster rate. The benefits of TMVI procedures compared to existing treatment methods are garnering significant interest, and it is anticipated that this to lead to further adoption in the healthcare space. Abbott having the only approved TMVI product puts the company in a considerably advantageous position in the market, and Abbott is sure to maximise gains before other companies begin to launch their own products.
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