Pune, India -- (SBWIRE) -- 10/18/2018 -- 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.

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 major vendors in the global market are:
- Edwards Lifesciences
- Abbott
- LivaNova
- Medtronic
- Boston Scientific

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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.

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.

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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.

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

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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.

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