Global Heart Valve Repair and Replacement Devices Market 2019-2023
About this market
The increasing prevalence of cardiovascular diseases will drive the heart valve repair and replacement devices market growth in the forthcoming years. Disorders including the aortic stenosis, pulmonary stenosis, and a congenital heart defect have led to rising demand for heart valve repair and replacement devices. In addition, factors including tobacco abuse, high cholesterol, blood pressure, and obesity are also mainly responsible for creating a rising demand for heart valve repair and replacement devices in the long run. Technavio’s analysts have predicted that the heart valve repair and replacement devices market will register a CAGR of nearly 16% by 2023.
Rising demand for heart valve therapies
One of the growth drivers of the global heart valve repair and replacement devices market is the rising demand for heart valve therapies. The growing incidence of heart valve diseases such as stenosis and regurgitation led to the high demand for heart valve therapies such as heart valve repair and replacement.
Shortage of cardiologists
One of the challenges in the growth of the global heart valve repair and replacement devices market is the shortage of cardiologists. Lack of expertise increases the probability of misdiagnosis and improper treatment care, which can cause harm to patients.
For the detailed list of factors that will drive and challenge the growth of the heart valve repair and replacement devices market during 2019-2023, view our report.
The market appears to be moderately fragmented with the presence of several market players. Vendors in the market are focusing on strategies such as mergers and acquisitions, partnerships, and other developments to improve their market share and expand their presence globally. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Heart Valve Repair and Replacement Devices Market 2019-2023
Technavio recognizes the following companies as the key players in the global heart valve repair and replacement devices market: Abbott, Boston Scientific Corporation, CryoLife, Inc., Edwards Lifesciences Corporation, LivaNova PLC, and Medtronic.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the development of heart valve with a tissue engineering approach.”
According to the report, one of the major drivers for this market is the rising demand for heart valve therapies.
Further, the report states that one of the major factors hindering the growth of this market is the high cost of heart valve repair and replacement procedures.
Boston Scientific Corporation
Edwards Lifesciences Corporation
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