Heart Valve Replacement and Repair Market Revenue was valued at USD 12.5 Billion in 2024 and is estimated to reach USD 20.1 Billion by 2033, growing at a CAGR of 6.5% from 2026 to 2033.
The heart valve replacement and repair market in South Korea is experiencing significant growth, driven by technological advancements and evolving healthcare needs. Between 2017 and 2020, the proportion of aortic valve surgeries increased from 56.8% to 60.3%, with a notable rise in minimally invasive procedures from 20.4% to 31.2% citeturn0search1. This shift reflects a broader trend towards less invasive surgical options, catering to patient preferences and improving recovery times. The introduction of transcatheter aortic valve implantation (TAVI) in 2010 marked a turning point in the treatment of severe aortic stenosis. Initially limited by high costs and lack of insurance coverage, TAVI procedures saw a substantial increase following the National Health Insurance Service's decision in 2015 to include them under its coverage citeturn0search3. This policy change made TAVI more accessible, particularly for high-risk patients, and contributed to the overall growth of the heart valve replacement and repair market. Despite the higher costs associated with TAVI—approximately 30 million KRW per procedure, with the valve itself accounting for about 75% of the total cost—its benefits, such as reduced hospital stays and quicker recovery, have made it an attractive option for many patients citeturn0search4. The government's reimbursement policies, covering up to 95% of the costs for eligible patients, have further facilitated its adoption. In 2023, the surgical heart valves market in South Korea was valued at $36.2 million, with prosthetic heart valves being the largest revenue contributor citeturn0search6. Leading companies in this sector include Edwards Lifesciences Corp, Medtronic Plc, and Abbott Laboratories. The market is projected to continue its upward trajectory, driven by an aging population and increasing demand for advanced cardiovascular treatments. From a personal perspective, the rapid advancements in heart valve replacement and repair technologies are not only enhancing patient outcomes but also reshaping the healthcare landscape in South Korea. The emphasis on minimally invasive procedures aligns with global trends, emphasizing patient comfort and quicker recovery. As the market continues to evolve, collaboration between medical professionals, policymakers, and industry leaders will be crucial in addressing the growing healthcare needs of the population.
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Medtronic
Edwards Lifesciences
St. Jude Medical
LivaNova
Balance Medical
KingstronBio
Venus Medtech
LanFei Med
Suzhou Jiecheng Medical Technology
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Heart Valve Replacement and Repair Market
Mechanical Heart Valves
Bioprosthetic Heart Valves
Tissue Heart Valves
Transcatheter Heart Valves
Open-heart Surgery
Minimally Invasive Surgery
Transcatheter Aortic Valve Replacement (TAVR)
Transcatheter Mitral Valve Repair
Hospitals
Cardiology Clinics
Surgical Centers
Research and Academic Institutions
Aortic Valve
Mitral Valve
Tricuspid Valve
Pulmonary Valve
Direct Sales
Distributors
Online Sales
Specialty Stores
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Heart Valve Replacement and Repair Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Heart Valve Replacement and Repair Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Heart Valve Replacement and Repair Market, By Type
6. South Korea Heart Valve Replacement and Repair Market, By Application
7. South Korea Heart Valve Replacement and Repair Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Heart Valve Replacement and Repair Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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