LONDON–(BUSINESS WIRE)–Technavio has been monitoring the global heart valve repair and replacement devices market since 2014 and the market is poised to grow by USD 7.02 billion during 2019-2023, progressing at a CAGR of almost 16% during the forecast period. Request free sample pages
Read the 127-page report with TOC on “Heart Valve Repair and Replacement Devices Market Analysis Report by Product (Heart valve replacement devices and Heart valve repair devices), Surgery (Minimally invasive surgeries, Transcatheter surgeries, and Open surgeries), Geography (Asia, Europe, North America, and ROW), and the Segment Forecasts, 2019-2023”.
The market is driven by the growth in medical tourism in emerging economies. In addition, technological advances are anticipated to boost the growth of the heart valve repair and replacement devices market.
The cost of heart valve replacement treatment procedure is significantly low in developing countries compared to developed countries. Hence, patients from developed countries such as the US and Canada travel to countries such as Singapore, India, and Thailand to avail premium medical services at lower prices. In addition, improvements in the quality of medical services and healthcare infrastructure and the availability of well-trained surgeons have further led to the growth of medical tourism in these countries. This will be a crucial factor in driving the growth of the market during the forecast period.
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Major Five Heart Valve Repair and Replacement Devices Market Companies:
Abbott
Abbott operates its business through segments such as Established Pharmaceuticals, Nutritionals, Diagnostics, Cardiovascular and Neuromodulation, and Other. The company offers a wide range of heart valve repair and replacement devices. Some of the key offerings include Epic Mitral Valve, Mitraclip Transcatheter Mitral Valve Repair, and Trifecta GT Aortic Valve.
Boston Scientific Corporation
Boston Scientific Corporation operates its business through segments such as Cardiovascular, Rhythm and Neuro, and MedSurg. The company offers a wide range of heart valve repair and replacement devices. LOTUS Edge Aortic Valve System and ACURATE neo Aortic Valve System are some of its key offerings.
CryoLife, Inc
CryoLife, Inc operates its business through segments such as Products and Preservation services. On-X Ascending Aortic Prosthesis and On-X Prosthetic Heart Valves are the key offerings of the company.
Edwards Lifesciences Corporation
Edwards Lifesciences Corporation operates its business through segments such as Transcatheter Heart Valve Therapy, Surgical Heart Valve Therapy, and Critical Care. Some of the key offerings of the company include PASCAL Transcatheter Valve Repair System, Cardioband Mitral Reconstruction, and Cardioband Tricuspid Valve Reconstruction System.
LivaNova PLC
LivaNova PLC operates its business through segments such as Cardiovascular, Neuromodulation, and Other. Perceval, Solo Smart, and Valsalva Conduit are the key offerings of the company.
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Technavio has segmented the heart valve repair and replacement devices market based on the product, surgery, and region.
Heart Valve Repair and Replacement Devices Product Outlook (Revenue, USD Billion, 2019 – 2023)
- Heart valve replacement devices
- Heart valve repair devices
Heart Valve Repair and Replacement Devices Surgery Outlook (Revenue, USD Billion, 2019 – 2023)
- Minimally invasive surgeries
- Transcatheter surgeries
- Open surgeries
Heart Valve Repair and Replacement Devices Regional Outlook (Revenue, USD Billion, 2019 – 2023)
- Asia
- Europe
- North America
- ROW
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