The heart valve repair and replacement devices market in Europe likely to grow at a CAGR of around 15% by 2023
Arizton’s recent market research report on the heart valve repair and replacement devices market identifies Edwards Lifesciences, Abbott, LivaNova, Medtronic, and Boston Scientific as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by product (repair devices and replacement devices), by surgery type (transcatheter surgery, open heart surgery, and MI heart surgery), by end-users (hospitals and ASCs), and by geography (APAC, Europe, North America, Latin America, and MEA).
The heart valve repair and replacement devices market is estimated to reach revenues of over $12 billion by 2023, growing at a CAGR of approximately 17% during 2017-2023.
The heart valve repair and replacement devices market is divided into four major segments that consist of by product, surgery type, end-user, and geography.
Europe to grow at an impressive CAGR in the heart valve repair and replacement devices market during the forecast period
The heart valve repair and replacement devices market by geography is classified into APAC, Europe, North America, Latin America, and MEA. Europe dominated the second largest market share in 2017, growing at a CAGR of around 15% 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. The focus on gathering data on safety and efficacy, improved quality-of-life data, economic evidence from clinical trial registries, and randomized trials will encourage vendors to leverage technology to improve the product offerings in the global market. The presence of highly structured standard reimbursement policies will increase the adoption of these procedures and treatments in the European heart valve repair and replacement devices market.
Heart valve repair devices segment to grow at a considerable CAGR in the heart valve repair and replacement devices market during the forecast period
The product type segment in the heart valve repair and replacement devices market is divided into repair devices and replacement devices.
Repair devices segment occupied a portion of the market share in 2017, growing at a CAGR of more than 13% during the forecast period.
The increasing incidences of heart diseases, development and commercialization of novel heart valve repair therapies, and rising advances in diagnostic technologies are some of the factors attributing to the growth of this segment in the global market. The top players are investing in R&D to develop innovative repair devices to attract maximum consumers and gain a larger heart valve repair and replacement devices market share. The growing demand for mitral valve repair procedures will create lucrative opportunities for leading vendors operating in the global market. For instance, MitrAssist is developing a mitral valve implant and a unique approach to treat mitral regurgitation. The new regulatory approvals and product launches will help boost revenues in the heart valve repair and replacement devices market during the forecast period.
MI heart surgery segment to grow at a significant CAGR in the heart valve repair and replacement devices market during the forecast period
The heart valve repair and replacement devices market by surgery type is segmented into transcatheter surgery, open heart surgery, and MI heart surgery. 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. The increasing focus on developing sutureless heart valve replacement devices for performing fewer incision surgeries will create a demand for these procedures in the global market. The development of advanced and innovative heart valves such as sutureless or rapid deployment devices will transform the heart valve repair and replacement devices market over the next few years.
The other prominent players in the heart valve repair and replacement devices market are Balton, BD, BioStable Science & Engineering, Cardiac Dimensions, CryoLife, Lepu Medical Technology, Micro Interventional Devices, Mitralign, NeoChrod, TORAY INDUSTRIES, TTK Healthcare, VENUS MEDTECH, Ancora Heart, Cephea Valve Technologies, Colibri Heart Valve, JenaValve Technology, Mardil Medical, Millipede, MVRx, Valcare Medical.
The complete overview of the latest market research report on heart valve repair and replacement devices market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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