LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global heart valve repair and replacement devices market, and the market is poised to grow by USD 7.02 billion during 2019-2023 at a CAGR of nearly 16% during the forecast period. Request Free Sample Pages
Read the 127-page research report with TOC on "Heart Valve Repair and Replacement Devices Market Analysis Report by Product (Heart valve replacement devices and Heart valve repair devices), by Surgery (Minimally invasive surgeries, Transcatheter surgeries, and Open surgeries), by Geography (Asia, Europe, North America, and ROW), and Segment Forecasts, 2019-2023".
The market is driven by growing medical tourism in emerging economies. Also, technological advances in heart valve repair and replacement devices are anticipated to further boost the growth of the market during the forecast period.
The medical tourism industry is witnessing significant growth as patients from developed countries are traveling to developing countries such as Thailand, India, and Singapore to obtain affordable and quality healthcare. Healthcare providers are focusing on attracting foreign patients by offering niche services to treat valvular heart diseases such as valve regurgitation and valve stenosis. They offer heart valve repair and replacement surgeries to repair and replace defective heart valves that are prone to these conditions. Thus, the growing medical tourism in emerging economies is expected to drive market growth during the forecast period.
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Major Five Heart Valve Repair and Replacement Devices Market Companies:
Abbott is headquartered in the US and operates the business under various segments such as Established Pharmaceuticals, Nutritionals, Diagnostics, Cardiovascular and Neuromodulation, and Other. The company offers Epic Mitral Valve, Mitraclip Transcatheter Mitral Valve Repair, and Trifecta GT Aortic Valve.
Boston Scientific Corporation
Boston Scientific Corporation is headquartered in the US and offers products through the following business units: Cardiovascular, Rhythm and Neuro, and MedSurg. The company provides LOTUS Edge Aortic Valve System and ACURATE neo Aortic Valve System.
CryoLife, Inc is headquartered in the US and operates under two business segments, namely Products and Preservation services. The company offers the On-X Ascending Aortic Prosthesis and the On-X Prosthetic Heart Valve.
Edwards Lifesciences Corporation
Edwards Lifesciences Corporation is headquartered in the US and offers products through the following business segments: Transcatheter Heart Valve Therapy, Surgical Heart Valve Therapy, and Critical Care. The company offers PASCAL Transcatheter Valve Repair System, Cardioband Mitral Reconstruction, and Cardioband Tricuspid Valve Reconstruction System.
LivaNova PLC is headquartered in the United Kingdom and offers products through the following business segments: Cardiovascular, Neuromodulation, and Other. The company offers Perceval, Solo Smart, and Valsalva Conduit.
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Heart Valve Repair and Replacement Devices Product Outlook (Revenue, USD Million, 2019-2023)
- Heart valve replacement devices
- Heart valve repair devices
Heart Valve Repair and Replacement Devices Regional Outlook (Revenue, USD Million, 2019-2023)
- North America
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