$2.7 Billion European Cardiac Surgery Market Expected to Grow 67% by 2024 Due to TAVI and TMVr Adoption – New Study by iData Research

VANCOUVER, British Columbia–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/cardiacsurgery?src=hash" target="_blank"gt;#cardiacsurgerylt;/agt;–According to a new series of reports by iData
Research, the European cardiac surgery device market is valued at
$2.7 billion USD, and is expected to grow at a CAGR of 11.5% to reach
$4.5 billion by 2024. One substantial factor driving this growth is the
rising adoption of minimally invasive heart valve therapies, such as
transcatheter mitral valve repair (TMVr) and transcatheter aortic valve
implantation (TAVI).

TAVI remains the largest revenue generator among transcatheter heart
valve therapies, accounting for nearly 50% of the total cardiac surgery
device market. The European TAVI market value is expected to double over
the next 5 years to reach over $2.6 billion USD by 2024.

“Growth will be driven by a wide variety of factors. The large potential
patient population, improved diagnostic capabilities, new product
launches, positive clinical results and favorable reimbursement
conditions will continue to push this market forward,” says Jeffrey
Wong, Analyst Director at iData Research.

Get
a Free Report from the Europe Cardiac Surgery Market Report Suite from
iData Research

As clinical evidence for TAVI continues to be published, these
procedures are becoming more commonly used in moderate and low-risk
patients. Many patients prefer percutaneous procedures over open-heart
surgical procedures, and several new TAVI devices will be introduced
into the European market over the forecast period. The TMVr market is
also expected to grow rapidly over the forecast period, benefitting from
many of the same drivers as TAVI.

The market for TAVI devices is dominated by Medtronic’s CoreValve
and Evolut devices. Medtronic gained market share in 2017, edging
out Edwards Lifesciences’ Sapien and Centera devices, and
has continued this momentum. Boston Scientific also remains a
significant player in the market for TAVI devices with the recent
reinstation of their Lotus Valve System, which had been out of
the European market since 2016, due to a locking mechanism issue. In the
market for TMVr devices, Abbott holds a strong grasp with its MitraClip
device, which continues to expand its indications.

For Further Market Information

More can be found in a series of reports published by iData Research
entitled the Europe
Market Report Suite for Cardiac Surgery Devices 2018. iData’s suite
of reports on this subject covers 15 countries in Europe. This includes
a comprehensive analysis of units sold, market values, average selling
prices, procedure volumes, forecasts, as well as detailed competitive
market shares and analysis of all major players.

Email us at [email protected] or
register
online for a Europe Market Report Suite for Cardiac Surgery Devices
2018 brochure and synopsis.

About iData

iData
Research is an international consulting and market research firm
dedicated to empowering confident strategic decisions within the medical
device, dental, and pharmaceutical industries.

Contacts

Joel Harrison
604-266-6933
[email protected]