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The heart valve devices industry is competitive in nature, with various large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products with improved efficiency and cost-effectiveness is among a key market strategy for heart valve device manufacturers. Some of the leading industry players including Abbott Laboratories., Boston Scientific Corporation, Inc., Medtronic plc, and Edwards Lifesciences Corporation., Ltd, among others have a substantial presence in the market.
Some of the eminent market participants operating in the heart valve devices industry include:
Heart valve devices industry was valued at around USD 6.1 billion in 2023 and is estimated to reach USD 13 billion by 2032, attributed to the increasing prevalence of cardiovascular diseases and supportive government initiatives.
Abbott Laboratories, Artivion, Inc, Boston Scientific Corporation, Colibri Heart Valve, Edwards Lifesciences Corporation, JenaValve, LivaNova PLC, Medtronic plc, Symetis are some of the major industry contenders.
North America heart valve devices market accounted for USD 2.1 billion in 2023 and is predicted to witness substantial growth through 2032, attributed to an advanced healthcare infrastructure and substantial healthcare spending in the region.
The mechanical heart valve segment was valued at over USD 3 billion in 2023 and is set to gain traction throughout 2024-2032, owing to its robust construction and durability.