According to research report the global structural heart devices market is projected to reach USD 15.08 billion by 2023 from USD 9.28 billion in 2018, at a CAGR of 10.2%. Players in this market compete with each other to deliver superior and advanced technologies for heart valve repair and replacement. In 2017, the structural heart devices market was dominated by a few large players, namely, Edwards Lifesciences Corporation (US), Medtronic plc (Ireland), Abbott (US), Boston Scientific Corporation (US), and LivaNova plc (UK).
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Acquisitions and acquisitions; and partnerships & agreements have been the key strategies adopted by key players between 2015 and 2018. Some of the key players that adopted these strategies are Edwards Lifesciences (US), Medtronic (Ident US), Abbott (US), LivaNova (UK), Micro Interventional Devices (US), Braile Biomédica (Brazil), and CryoLife (US).
Edwards Lifesciences held the leading position in the global structural heart devices market in 2017 on account of its diverse portfolio of transcatheter and surgical heart valves. The company pursues organic as well as inorganic growth strategies, such as product launches For instance, in December 2017, the company acquired Harpoon Medical Inc. (US). The unique beating-heart repair procedure for mitral valve patients of Harpoon Medical complements Edwards’ comprehensives This acquisition was valued at USD 100 million. portfolio of treatments for structural heart disease and reinforcement its commitment to innovation in cardiac surgery.
Medtronic held the second position in the structural heart devices market in 2017. The company offers a comprehensive range of transcatheter and surgical heart valve products through its coronal and structural heart division. The key percutaneous surgical products products from the nucleus Evolut PRO system and tissue & mechanical heart valve. To maintain its leading position in the market and increase its customer base, the company focuses on product launches & approvals, partnerships, and expansions. For instance, in 2016, the company partnered with the World Stroke Organization (WSO, Switzerland). Under this partnership, the two organizations will work together to educate, raise awareness, and support the effective management of patients who suffer from strokes.
CryoLife, Inc. (US), Micro Interventional Devices, Inc. (US), Braile Biomédica (Brazil), Lepu Medical Technology (Beijing) Co., Ltd. (China), and TTK Healthcare Limited (India).
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