Tricuspid Valve Repair Systems Market: By Indication (Tricuspid Valve Regurgitation and Tricuspid Valve Stenosis), By Procedure Type (Surgical Repair and Transcatheter Repair), By Approach (Traditional and Minimally Invasive) By End User (Hospitals and Ambulatory Surgical Centres) and Geography

Tricuspid Valve Repair Systems Market size was valued at USD 695.2 million in 2023 and is projected to grow at 5.9% CAGR over the forecast years to reach USD 1038.4 million by 2030. The tricuspid valve repair systems market is experiencing significant growth, driven by several factors such as the increased incidence of tricuspid valve diseases, advancements in medical technology, growing geriatric population, growing awareness of heart valve disorders, and increasing preference for minimally invasive procedures. The rising prevalence of tricuspid valve diseases, driven by several factors such as heart failure, drug abuse, pulmonary hypertension, and age-related degeneration, also encourages high growth. Conditions such as regurgitation and Stenosis are relatively rare, moderate or severe tricuspid regurgitation has an estimated prevalence of 0.55% in the United States, with a higher incidence in women and increasing age. Tricuspid valve repair helps maintain the natural function of the tricuspid valve, reducing the risk of infections, enhancing the survival rate of patients, and relieving fatigue, shortness of breath, and swelling in the leg and abdominal regions.

Besides this, the rising awareness among people regarding the early treatment of diseases associated with the tricuspid valve, to avoid future complications such as heart failure, arrhythmias, edema, blood clots, strokes, and atrial fibrillation, has become yet another factor boosting its growth. Despite the growth, some of the constraints such as the high cost of procedures and devices, regulatory hurdles, and limited awareness and accessibility are constraints that hinder the market growth. By addressing the existing constraints and capitalizing on emerging opportunities such as technological advancements, emerging markets, focus on reimbursement, and clinical trials and research the market can witness significant growth. Shift toward minimally invasive procedures, focus on personalized medicine, technological convergence, and focus on value-based care are the trends that can shape the market in the future.

Tricuspid Valve Repair Systems Market Key Developments:

• In April 2024, Abbott has recently achieved a significant milestone in the field of cardiac care. They received FDA approval for their groundbreaking TriClip™ transcatheter edge-to-edge repair (TEER) system.
• In Jan 2024. US Food and Drug Administration (FDA) has approved CroíValve an investigational device exemption (IDE) for its tricuspid regurgitation (TR) system. The company has initiated an Early Feasibility Study to evaluate the implant.