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Heart Valve Repair Replacement Market

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According to a new market report published by Persistence Market Research “Global Market Study on Heart Valve Repair and Replacement: Asia Pacific to Witness Highest Growth by 2020,” the global heart valve repair and replacement market was valued at
Heart Valve Repair Replacement Market Expected to Hit US$ 4,712.7 million in 2020
According to a new market report published by Persistence Market Research “Global Market Study
on Heart Valve Repair and Replacement: Asia Pacific to Witness Highest Growth by 2020,” the
global heart valve repair and replacement market was valued at USD 2,945.2 million in 2014 and is
expected to grow at a CAGR of 8.1% from 2014 to 2020, to reach USD 4,712.7 million by 2020.
The global heart valve repair and replacement market is witnessing significant growth due to
growing geriatric population, change in lifestyles, and associated conditions leading to
cardiovascular disorders. Moreover, technological advancements in the heart valve repair and
replacement devices and surgeries, and rise in medical tourism promoting heart valve repair and
replacement surgeries are also driving the market. However, there are various risks and
complications associated with heart valve repair and replacement surgeries such as irregular heart
rhythm, breathing problem, and embolism. Furthermore, lack of primary healthcare infrastructure in
developing countries inhibits the growth of the heart valve repair and replacement market. The heart
valve repair and replacement market is anticipated to grow from an estimated USD 2,945.2 million
in 2014 to USD 4,712.7 million by 2020 at a CAGR of 8.1% during the forecast period.
In North America, the prevalence of cardiovascular diseases is high compared to other regions of
the world due to increasing rate of obesity and change in lifestyle in the region. In the U.S.,
approximately 70,000 heart valve procedures are performed for mitral valve stenosis annually.
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In Europe, the heart valve repair and replacement market is driven by a rise in geriatric population,
increasing the prevalence of lifestyle-associated disease, and change in lifestyles. Cardiovascular
diseases cause more deaths among Europeans Approximately 50,000 valve replacement surgeries
take place annually.
However, the growth of heart valve repair and replacement market in Asia Pacific is much higher
than that in developed countries due to the large population base, change in lifestyles, increasing
prevalence of lifestyle associated diseases, and rising medical tourism in the region.
Edwards Lifesciences Corporation, St. Jude Medical, Inc., Medtronic, Inc., Sorin Group, Boston
Scientific Corporation, and Abbott Laboratories, Inc. are some of the major players in the heart
valve repair and replacement market.
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Author
ashutosh
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