The global heart valve repair and replacement devices market is expected to generate revenues of more than $12 billion by 2023
LONDON, Sept. 18, 2018 /PRNewswire/ --
The global heart valve repair and replacement devices market is expected to generate revenues of more than $12 billion by 2023, growing at an impressive CAGR of around 17% during 2017-2023.
Download the full report: https://www.reportbuyer.com/product/5493860
The government organizations and leading manufacturers involved in spreading awareness, education, and support about various types of cardiac diseases will have a positive impact on the global market. Top vendors in the transcatheter space, startups, and small medtech investigational companies are actively engaged in developing next-generation medical devices creating lucrative opportunities in the market. The global heart valve repair and replacement devices market is driven by growing technological advancements, new product approvals, a growing elderly population, and improvements in reimbursement policies. The increasing adoption of transcatheter and other MI heart valve procedures will transform the global market. The market research report provides in-depth market analysis and segmental analysis of the global heart valve repair and replacement devices market by product, surgery type, end-user, and geography.
The report considers the present scenario of the global heart valve repair and replacement devices market and its market dynamics for the period 2018?2023. It covers five geographic regions (North America, Europe, APAC, Latin America, and MEA); end-users (Hospitals and ambulatory surgical centers); product type (heart valve repair and replacement devices); surgery type (Transcatheter, open, and minimally invasive heart valve repair and replacement procedures) under the study elaborating the present market scenario and discussing the futuristic demand of heart valve repair and replacement devices in the market. It also covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the global heart valve repair and replacement devices market.
Heart Valve Repair and Replacement Devices Market – Dynamics
The introduction of transcatheter based procedure that is highly advanced than other MI and open surgical techniques is driving the growth of the global heart valve repair and replacement devices market. Transcatheter treatments are associated with fewer complications, high success rate, and a faster recovery rate than other techniques available in the market. Players such as Edwards Lifesciences, Abbott, Medtronic, and LivaNova have launched a wide range of devices that include annuloplasty rings, tissue valves, transcatheter heart valves, mechanical heart valves, and advanced delivery systems. The launch of devices that focuses on valve retrievability and repositioning will transform the global heart valve repair and replacement devices market. The emergence of transcatheter mitral valve replacement procedure is expected to revolutionize the global heart valve repair and replacement devices market. With the availability of favorable clinical evidence and technological improvements, this procedure is expected to gain immense popularity in the global market over the next few years.
Heart Valve Repair and Replacement Devices Market – Segmentation
This market research report includes a detailed segmentation of the market by product, surgery type, end-users, and geography. Replacement devices segment dominated more the 3/4th of market share in 2017, growing at a CAGR of approximately 18% during the forecast period. The growing demand for transcatheter replacement procedures especially TAVR and the availability of next-generation prosthetic tissue heart valves are two of the major factors augmenting the growth of this segment in the global market. The growing demand for mitral valve repair procedures will create lucrative opportunities for leading vendors operating in the global market.
MI heart surgery segment dominates a section of the market share in 2017, growing a CAGR of around 12% during the forecast period. The growing demand for minimally invasive surgeries such as video-assisted, robotic-assisted, and endoscopic techniques will propel the growth of this segment in the global market. Hospital end-user segment dominated the largest market share in 2017, growing at a CAGR of around 18% during the forecast period. The availability of various procedure such as transcatheter-based, MI robotic-assisted, and video-assisted techniques for treating a broad range of high-risk and complicated heart valve diseases is propelling the growth of this end-user segment in the global market.
Market Segmentation by Product
• Heart Valve Repair Devices
Surgical Heart Repair Devices
Non-surgical Heart Repair Devices
• Heart Valve Replacement Devices
Transcatheter Heart Valves
Tissue Heart Valves
Mechanical Heart Valves
Market Segmentation by Surgery
• Transcatheter Surgery
• Open Heart Surgery
• MI Heart Surgery
Market Segmentation by End-users
• Hospitals
• ASCs
Heart Valve Repair and Replacement Devices Market – Geography
The geographical segment in the global heart valve repair and replacement devices market is categorized into APAC, Europe, North America, Latin America, and MEA. North America occupied more than half of the market share in 2017, growing at a CAGR of approximately 19% during the forecast period. The availability of established healthcare infrastructure and easy access to advanced healthcare services is driving the growth of Europe in the global market. The launch of advanced techniques such as TAVR and the increasing adoption of this procedure in countries such as Germany, France, the UK, Italy, and Spain will boost revenues in the heart valve repair and replacement devices market.
Market Segmentation by Geography
• North America
US
Canada
• Europe
Germany
France
UK
• APAC
China
Japan
• Latin America
• MEA
Key Vendor Analysis
The global heart valve repair and replacement devices market is highly consolidated and top players occupy a significant portion of the market share. The top vendors are investing in innovative products and technologies to sustain the intense competition in the global market. The leading companies are implementing various strategies such as product launches and approvals, marketing and promotional activities, acquisitions, increase R&D investment, and strengthen their distribution networks to gain a larger market share. The increasing focus on business expansion in existing and newer regions to cater to the needs of growing customer base, widen their product portfolios and boost their production capabilities to gain traction from end-users in the global market. The launch of a diversified product portfolio will help players boost their revenues in the global heart valve repair and replacement devices market.
The major vendors in the global market are:
• Edwards Lifesciences
• Abbott
• LivaNova
• Medtronic
• Boston Scientific
Other prominent vendors include Balton, BD, BioStable Science & Engineering, Cardiac Dimensions, CryoLife, Lepu Medical Technology, Micro Interventional Devices, Mitralign, NeoChord, TORAY INDUSTRIES, TTK Healthcare, VENUS MEDTECH, Ancora Heart, Cephea Valve Technologies, Colibri Heart Valve, JenaValve Technology, Mardil Medical, Millipede, MVRx, Valcare Medical.
Key market insights include
1. The analysis of global heart valve repair and replacement devices market provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global heart valve repair and replacement devices market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of global heart valve repair and replacement devices market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
Download the full report: https://www.reportbuyer.com/product/5493860
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com
SOURCE ReportBuyer
Share this article