This report analyzes the worldwide markets for Prosthetic Heart Valves in US$ Million by the following Product Segments- Mechanical valves, and Biological/Tissue valves. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, and Rest of World.  Annual estimates and forecasts are provided for the period 2009 through 2017. Also, a six-year historic analysis is provided for these markets. The report profiles 18 companies including many key and niche players such as   Abbott Vascular, CryoLife, Inc., Edwards Lifesciences Corporation, Medtronic, Inc., Medtronic ATS Medical, Inc., On-X Life Technologies, Inc., SORIN GROUP, and St. Jude Medical, Inc. Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

TABLE OF CONTENTS

PROSTHETIC HEART VALVES 							MCP-6753
A GLOBAL STRATEGIC BUSINESS REPORT


                                            CONTENTS



  1. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS                       1
      Study Reliability and Reporting Limitations                          1
      Disclaimers                                                          2
      Data Interpretation & Reporting Level                                3
       Quantitative Techniques & Analytics                                 3
      Product Definitions and Scope of Study                               3
       Mechanical Valves                                                   3
       Biological/Tissue Valves                                            3

  2. OUTLOOK                                                               4

  3. INDUSTRY OVERVIEW                                                     5
      Metals Giving Way to Carbon Compounds and Polymers in
       Mechanical Heart Valves                                             5
      Tissue Valves Prevail Over Mechanical Valves                         5
      BSE: A Potential Problem for Tissue Segment                          5
      Major Growth Drivers                                                 5
       Aging Demographics                                                  5
        Table 1: Ageing (65+) Demographics as % of Total Population
        by Country (2000, 2010, 2025) (includes corresponding
        Graph/Chart)                                                       6
       Under-Treated Population                                            6
       Rheumatic Heart Disease                                             7
       Developing Countries                                                7
        Table 2: Global Heart Valve Procedures (2009): Number of
        Heart Valve Procedures Per Million Population (for 55+
        Population) and Total Heart Valve Procedures (includes
        corresponding Graph/Chart)                                         7
        Technological Developments                                         8

  4. PERCUTANEOUS HEART VALVES                                             9
      An Introduction                                                      9
      The Technology                                                       9
      Cost of Replacement                                                  10
      Introduction and Adoption in Europe                                  10
       Table 3: European Recent Past, Current & Future Analysis for
       Transcatheter Heart Valve Independently Analyzed with Annual
       Revenues in US$ Million for Years 2009 Through 2017 (includes
       corresponding Graph/Chart)                                          10
      Competition Heats Up in US Market                                    11
       Table 4: US Future Analysis for Transcatheter Heart Valve
       Independently Analyzed with Annual Revenues in US$ Million
       for Years 2011 Through 2017 (includes corresponding
       Graph/Chart)                                                        11
      A Word of Caution                                                    12

  5. COMPETITIVE ANALYSIS                                                  13
      Table 5: Global Heart Valve Market (2009): Percentage
      Breakdown of Heart Valve Market by Value for Edwards
      Lifesciences, St. Jude Medical, Medtronic, and Others
      (includes corresponding Graph/Chart)                                 13
      Competition in Percutaneous Heart Valve Segment                      13
       Mergers and Acquisitions                                            14
       Edwards Lifesciences Leads the Way                                  14
       Medtronic Remains Bullish on Percutaneous Heart Valve Segment       15
      Heart Valves in the Pipeline                                         15
      Next-Generation Heart Valves                                         15
       St. Jude’s Trifecta Tissue Valve                                    15
       Edwards Lifesciences’ SAPIEN Transcatheter Heart Valve              15
       Medtronic’s CoreValve                                               16
       Sorin Group’s Perceval S Aortic Valve                               16

  6. PRODUCT OVERVIEW                                                      17
      Human Heart - Morphology                                             17
      An Introduction to Heart Valves                                      17
      Heart Valve Disorders                                                18
       Probable Causes of Heart Valve Diseases                             19
      Diagnosis                                                            19
      Replacement or Repair?                                               19
      Heart Valve Replacement                                              20
      Prosthetic Heart Valves - An Introduction                            20
       Chronology of Important Developments in Prosthetic Heart
        Valve Market                                                       21
      Designing Considerations for Prosthetic Heart Valves                 21
       Mechanical Valves                                                   21
        Caged Ball Design                                                  22
        Tilting Disc Heart Valve                                           22
        Bileaflet Valves                                                   22
       Biological/Tissue Valves                                            22
        Stentless Tissue Valves                                            23
        Stented Tissue Valves                                              23
      Mechanical Vs. Biological                                            23
      Some Important Facts                                                 24
      Valve Failure                                                        24
      Symptoms of Malfunctioning Prosthetic Heart Valve                    25
       Clinical Symptoms                                                   25
       Physical Symptoms                                                   26
        Sound                                                              26
        PHV Murmurs                                                        26
      Prosthetic Valve Endocarditis (PVE)                                  27
      Prosthetic Valve Thrombosis (PVT)                                    28
      Embolization                                                         28
      Structural Breakdown of Bioprosthetic Valves                         28

  7. CLINICAL STUDIES/TRIALS                                               29
      Edwards Lifesciences Secures Conditional FDA Approval for
       PARTNER II Clinical Trials of Next-Generation Transcatheter
        Valve                                                              29
      Medtronic Receives Conditional FDA Approval for Clinical
       Trials of New CoreValve® System for TAVI                            29
      Edwards Lifesciences Announces Results for PARTNER I Trial           29
      Sorin Group Announces Clinical Study Results for Perceval S™
       Self Anchoring Sutureless Aortic Valve                              30
      On-X Announces Positive Results for Clinical Trials of
       Prosthetic Heart Valve                                              30
      On-X Life Technologies Completes Enrollment for PROACT Trial         30
      St. Jude Medical Completes European Enrollment for Trifecta™
       Stented Tissue Valve Trial                                          31

  8. PRODUCT LAUNCHES/INNOVATIONS/ REGULATORY APPROVALS                    32
      St. Jude Medical Obtains CE Mark Clearance for TrifectaTM Valve      32
      Medtronic Obtains CE Mark for Subclavian Artery Approach for
       CoreValve® System                                                   32
      CryoLife Obtains FDA 510(k) Clearance for 5-Year Shelf Life
       Period for CryoValve® SG Pulmonary Human Heart Valve                32
      Medtronic Receives FDA Approval for Medtronic Melody®
       Transcatheter Pulmonary Valve                                       33
      RUSNANO Clears Project to Develop Nanostructured Prosthetic
       Heart Valves                                                        33
      CryoLife’s Synergraft® Processed Human Aortic Heart Valves
       Receive HUD Designation from FDA                                    33
      Edwards Lifesciences Secures FDA Approval for Carpentier-
       Edwards PERIMOUNT Magna Ease Aortic Heart Valve                     34
      Edwards Lifesciences Performs First Implant of Transapical
       Heart Valve through Ascendra 2 System                               34
      Edwards Lifesciences Receives FDA Approval for Carpentier-
       Edwards PERIMOUNT Magna Mitral Heart Valve                          34
      CryoLife Implants First Combination Aortic-Mitral Allograft
       Human Heart Valve                                                   35
      CryoLife Secures 510(k) FDA Clearance for CryoValve® SG
       Pulmonary Human Heart Valve                                         35

  9. RECENT INDUSTRY ACTIVITY                                              36
      Boston Scientific Inks Definitive Merger Agreement with Sadra
       Medical                                                             36
      Medtronic Acquires ATS Medical                                       36
      CARMAT and Edwards Lifesciences Ink Agreement                        36
      On-X Life Technologies and Senko Medical Trading Ink Agreement
       for Prosthetic Heart Valve                                          37
      St. Jude Medical Establishes New Production Facility for Heart
       Valves                                                              37
      Medtronic Acquires CoreValve                                         37
      Medtronic Takes over Ventor Technologies                             37
      On-X Life Technologies Signs Global License and Development
       Agreement with Cleveland Clinic                                     38
      SynCardia and Aortech Sign PHV Technology Licensing Agreement        38
      Sorin Group Inks Long Term Distribution Agreement with Japan
       Lifeline                                                            38
      Medtronic and Arbor Sign Exclusive Licensing Agreement for
       Pericardial Heart Valve Technology                                  39

  10. FOCUS ON SELECT GLOBAL PLAYERS                                       40
      Abbott Vascular (US)                                                 40
      CryoLife, Inc. (US)                                                  40
      Edwards Lifesciences Corporation (US)                                40
      Medtronic, Inc. (US)                                                 40
       Medtronic ATS Medical, Inc. (US)                                    41
      On-X Life Technologies, Inc. (US)                                    41
      SORIN GROUP (Italy)                                                  41
      St. Jude Medical, Inc. (US)                                          42

  11. GLOBAL MARKET PERSPECTIVE                                            43
      Table 6: World Recent Past, Current & Future Analysis for
      Prosthetic Heart Valves by Geographic Region - US, Canada,
      Japan, Europe, Asia-Pacific and Rest of World Markets
      Independently Analyzed with Annual Revenue Figures in US$
      Million for Years 2009 Through 2017 (includes corresponding
      Graph/Chart)                                                         43

      Table 7: World Historic Review for Prosthetic Heart Valves by
      Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
      and Rest of World Markets Independently Analyzed with Annual
      Revenue Figures in US$ Million for Years 2003 Through 2008
      (includes corresponding Graph/Chart)                                 44

      Table 8: World 15-Year Perspective for Prosthetic Heart Valves
      by Geographic Region - Percentage Breakdown of Dollar Revenues
      for US, Canada, Japan, Europe, Asia-Pacific and Rest of World
      Markets for Years 2003, 2010 & 2017 (includes corresponding
      Graph/Chart)                                                         45

      Table 9: World Recent Past, Current & Future Analysis for
      Tissue Heart Valves by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific and Rest of World Markets Independently
      Analyzed with Annual Revenue Figures in US$ Million for Years
      2009 Through 2017 (includes corresponding Graph/Chart)               46

      Table 10: World Historic Review for Tissue Heart Valves by
      Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
      and Rest of World Markets Independently Analyzed with Annual
      Revenue Figures in US$ Million for Years 2003 Through 2008
      (includes corresponding Graph/Chart)                                 47

      Table 11: World 15-Year Perspective for Tissue Heart Valves by
      Geographic Region - Percentage Breakdown of Dollar Revenues
      for US, Canada, Japan, Europe, Asia-Pacific and Rest of World
      Markets for Years 2003, 2010 & 2017 (includes corresponding
      Graph/Chart)                                                         48

      Table 12: World Recent Past, Current & Future Analysis for
      Mechanical Heart Valves by Geographic Region - US, Canada,
      Japan, Europe, Asia-Pacific and Rest of World Markets
      Independently Analyzed with Annual Revenue Figures in US$
      Million for Years 2009 Through 2017 (includes corresponding
      Graph/Chart)                                                         49

      Table 13: World Historic Review for Mechanical Heart Valves by
      Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
      and Rest of World Markets Independently Analyzed with Annual
      Revenue Figures in US$ Million for Years 2003 Through 2008
      (includes corresponding Graph/Chart)                                 50

      Table 14: World 15-Year Perspective for Mechanical Heart
      Valves by Geographic Region - Percentage Breakdown of Dollar
      Revenues for US, Canada, Japan, Europe, Asia- Pacific and Rest
      of World Markets for Years 2003, 2010 & 2017 (includes
      corresponding Graph/Chart)                                           51

  12. THE UNITED STATES                                                    52
      A.Market Analysis                                                    52
        Current and Future Analysis                                        52
        Valvular Disease Statistics                                        52
         Table 15: Number of People Suffering from Severe and
         Moderate to Severe AS (in Thousands) (includes
         corresponding Graph/Chart)                                        52

         Table 16: Number of People Suffering from Severe and
         Moderate to Severe Mitral Regurgitation (MR) (in Thousands)
         (includes corresponding Graph/Chart)                              53

         Table 17: Prevalence of Mildly Severe to Extremely Severe
         Valvular Regurgitation in Men & Women (includes
         corresponding Graph/Chart)                                        53

         Table 18: US Heart Valve Replacement Procedures (2009):
         Percentage Breakdown of Heart Replacement Procedures by
         Aortic, Mitral, and Tricuspid & Pulmonary Valve Replacement
         (includes corresponding Graph/Chart)                              54
        Demographics Spur Growth                                           54
         Table 19: Population of the Elderly in the US (in
         Millions): Population of 50-54, 55-59, 60-64, 65-69 and
         70-74 Age Groups for 2001, 2006 and 2011 (includes
         corresponding Graph/Chart)                                        54
        Minimally Invasive Surgeries for Aortic Stenosis Treatment
         Gaining in Popularity                                             55
        Complications in Prosthetic Heart Valve                            55
        Competitive Scenario                                               55
        FDA Regulations for Medical Devices                                56
         Prosthetic Heart Valves Approved by the FDA Since 2000            57
        Clinical Studies/Trials                                            57
        Product Launches/Innovations/ Regulatory Approvals                 59
        Strategic Corporate Developments                                   61
      B.Market Analytics                                                   64
        Table 20: US Recent Past, Current & Future Analysis for
        Prosthetic Heart Valve by Product Segment - Tissue and
        Mechanical Markets Independently Analyzed with Annual
        Revenues in US$ Million for Years 2009 Through 2017
        (includes corresponding Graph/Chart)                               64

        Table 21: US Historic Review for Prosthetic Heart Valve by
        Product Segment - Tissue and Mechanical Markets
        Independently Analyzed with Annual Revenues in US$ Million
        for Years 2003 Through 2008 (includes corresponding
        Graph/Chart)                                                       65

        Table 22: US 15-Year Perspective for Prosthetic Heart Valve
        by Product Segment - Percentage Breakdown of Dollar Revenues
        for Tissue and Mechanical Markets for Years 2003, 2010 &
        2017 (includes corresponding Graph/Chart)                          65

  13. CANADA                                                               66
       Market Analysis                                                     66
        Table 23: Canadian Recent Past, Current & Future Analysis
        for Prosthetic Heart Valve by Product Segment - Tissue and
        Mechanical Markets Independently Analyzed with Annual
        Revenues in US$ Million for Years 2009 Through 2017
        (includes corresponding Graph/Chart)                               66

        Table 24: Canadian Historic Review for Prosthetic Heart
        Valve by Product Segment - Tissue and Mechanical Markets
        Independently Analyzed with Annual Revenues in US$ Million
        for Years 2003 Through 2008 (includes corresponding
        Graph/Chart)                                                       67

        Table 25: Canadian 15-Year Perspective for Prosthetic Heart
        Valve by Product Segment - Percentage Breakdown of Dollar
        Revenues for Tissue and Mechanical Markets for Years 2003,
        2010 & 2017 (includes corresponding Graph/Chart)                   67

  14. JAPAN                                                                68
      A.Market Analysis                                                    68
        Current and Future Analysis                                        68
        Strategic Corporate Developments                                   68
      B.Market Analytics                                                   69
        Table 26: Japanese Recent Past, Current & Future Analysis
        for Prosthetic Heart Valve by Product Segment - Tissue and
        Mechanical Markets Independently Analyzed with Annual
        Revenues in US$ Million for Years 2009 Through 2017
        (includes corresponding Graph/Chart)                               69

        Table 27: Japanese Historic Review for Prosthetic Heart
        Valve by Product Segment - Tissue and Mechanical Markets
        Independently Analyzed with Annual Revenues in US$ Million
        for Years 2003 Through 2008 (includes corresponding
        Graph/Chart)                                                       70

        Table 28: Japanese 15-Year Perspective for Prosthetic Heart
        Valve by Product Segment - Percentage Breakdown of Dollar
        Revenues for Tissue and Mechanical Markets for Years 2003,
        2010 & 2017 (includes corresponding Graph/Chart)                   70

  15. EUROPE                                                               71
      A.Market Analysis                                                    71
        Current and Future Analysis                                        71
        Central and Eastern Europe Markets Offer Growth Opportunities      71
        TAVI Devices Provide a Boost                                       71
         Reimbursements Prove a Stumbling Block                            72
        CE Mark for Medical Devices                                        72
        Clinical Studies/Trials                                            72
        Product Launches/Innovations/ Regulatory Approvals                 73
        Strategic Corporate Development                                    74
      B.Market Analytics                                                   75
        Table 29: European Recent Past, Current & Future Analysis
        for Prosthetic Heart Valve by Geographic Region - France,
        Germany, Italy, UK, and Rest of Europe Markets Independently
        Analyzed with Annual Revenues in US$ Million for Years 2009
        Through 2017 (includes corresponding Graph/Chart)                  75

        Table 30: European Historic Review for Prosthetic Heart
        Valve by Geographic Region - France, Germany, Italy, UK, and
        Rest of Europe Markets Independently Analyzed with Annual
        Revenues in US$ Million for Years 2003 Through 2008
        (includes corresponding Graph/Chart)                               76

        Table 31: European 15-Year Perspective for Prosthetic Heart
        Valve by Geographic Region - Percentage Breakdown of Dollar
        Revenues for France, Germany, Italy, UK, and Rest of Europe
        Markets for Years 2003, 2010 & 2017 (includes corresponding
        Graph/Chart)                                                       77

        Table 32: European Recent Past, Current & Future Analysis
        for Prosthetic Heart Valve by Product Segment - Tissue and
        Mechanical Markets Independently Analyzed with Annual
        Revenues in US$ Million for Years 2009 Through 2017
        (includes corresponding Graph/Chart)                               78

        Table 33: European Historic Review for Prosthetic Heart
        Valve by Product Segment - Tissue and Mechanical Markets
        Independently Analyzed with Annual Revenues in US$ Million
        for Years 2003 Through 2008 (includes corresponding
        Graph/Chart)                                                       79

        Table 34: European 15-Year Perspective for Prosthetic Heart
        Valve by Product Segment - Percentage Breakdown of Dollar
        Revenues for Tissue and Mechanical Markets for Years 2003,
        2010 & 2017 (includes corresponding Graph/Chart)                   80

  15a. FRANCE                                                              81
       Market Analysis                                                     81
        Table 35: French Recent Past, Current & Future Analysis for
        Prosthetic Heart Valve by Product Segment - Tissue and
        Mechanical Markets Independently Analyzed with Annual
        Revenues in US$ Million for Years 2009 Through 2017
        (includes corresponding Graph/Chart)                               81

        Table 36: French Historic Review for Prosthetic Heart Valve
        by Product Segment - Tissue and Mechanical Markets
        Independently Analyzed with Annual Revenues in US$ Million
        for Years 2003 Through 2008 (includes corresponding
        Graph/Chart)                                                       82

        Table 37: French 15-Year Perspective for Prosthetic Heart
        Valve by Product Segment - Percentage Breakdown of Dollar
        Revenues for Tissue and Mechanical Markets for Years 2003,
        2010 & 2017 (includes corresponding Graph/Chart)                   82

  15b. GERMANY                                                             83
      A.Market Analysis                                                    83
        Current and Future Analysis                                        83
        Reimbursements                                                     83
      B.Market Analytics                                                   84
        Table 38: German Recent Past, Current & Future Analysis for
        Prosthetic Heart Valve by Product Segment - Tissue and
        Mechanical Markets Independently Analyzed with Annual
        Revenues in US$ Million for Years 2009 Through 2017
        (includes corresponding Graph/Chart)                               84

        Table 39: German Historic Review for Prosthetic Heart Valve
        by Product Segment - Tissue and Mechanical Markets
        Independently Analyzed with Annual Revenues in US$ Million
        for Years 2003 Through 2008 (includes corresponding
        Graph/Chart)                                                       85

        Table 40: German 15-Year Perspective for Prosthetic Heart
        Valve by Product Segment - Percentage Breakdown of Dollar
        Revenues for Tissue and Mechanical Markets for Years 2003,
        2010 & 2017 (includes corresponding Graph/Chart)                   85

  15c. ITALY                                                               86
       Market Analysis                                                     86
        Table 41: Italian Recent Past, Current & Future Analysis for
        Prosthetic Heart Valve by Product Segment - Tissue and
        Mechanical Markets Independently Analyzed with Annual
        Revenues in US$ Million for Years 2009 Through 2017
        (includes corresponding Graph/Chart)                               86

        Table 42: Italian Historic Review for Prosthetic Heart Valve
        by Product Segment - Tissue and Mechanical Markets
        Independently Analyzed with Annual Revenues in US$ Million
        for Years 2003 Through 2008 (includes corresponding
        Graph/Chart)                                                       87

        Table 43: Italian 15-Year Perspective for Prosthetic Heart
        Valve by Product Segment - Percentage Breakdown of Dollar
        Revenues for Tissue and Mechanical Markets for Years 2003,
        2010 & 2017 (includes corresponding Graph/Chart)                   87

  15d. THE UNITED KINGDOM                                                  88
       Market Analysis                                                     88
        Table 44: UK Recent Past, Current & Future Analysis for
        Prosthetic Heart Valve by Product Segment - Tissue and
        Mechanical Markets Independently Analyzed with Annual
        Revenues in US$ Million for Years 2009 Through 2017
        (includes corresponding Graph/Chart)                               88

        Table 45: UK Historic Review for Prosthetic Heart Valve by
        Product Segment - Tissue and Mechanical Markets
        Independently Analyzed with Annual Revenues in US$ Million
        for Years 2003 Through 2008 (includes corresponding
        Graph/Chart)                                                       89

        Table 46: UK 15-Year Perspective for Prosthetic Heart Valve
        by Product Segment - Percentage Breakdown of Dollar Revenues
        for Tissue and Mechanical Markets for Years 2003, 2010 &
        2017 (includes corresponding Graph/Chart)                          89

  15e. REST OF EUROPE                                                      90
       Market Analysis                                                     90
        Table 47: Rest of Europe Recent Past, Current & Future
        Analysis for Prosthetic Heart Valve by Product Segment -
        Tissue and Mechanical Markets Independently Analyzed with
        Annual Revenues in US$ Million for Years 2009 Through 2017
        (includes corresponding Graph/Chart)                               90

        Table 48: Rest of Europe Historic Review for Prosthetic
        Heart Valve by Product Segment - Tissue and Mechanical
        Markets Independently Analyzed with Annual Revenues in US$
        Million for Years 2003 Through 2008 (includes corresponding
        Graph/Chart)                                                       91

        Table 49: Rest of Europe 15-Year Perspective for Prosthetic
        Heart Valve by Product Segment - Percentage Breakdown of
        Dollar Revenues for Tissue and Mechanical Markets for Years
        2003, 2010 & 2017 (includes corresponding Graph/Chart)             92

  16. ASIA-PACIFIC                                                         93
      A.Market Analysis                                                    93
        Current and Future Analysis                                        93
        Potential for Growth in Asia                                       93
        India - An Emerging Hotspot for Medical Tourism                    93
         Table 50: Comparison of Heart Valve Replacement Surgery
         Costs in Different Countries (includes corresponding
         Graph/Chart)                                                      94
      B.Market Analytics                                                   94
        Table 51: Asia-Pacific Recent Past, Current & Future
        Analysis for Prosthetic Heart Valve by Product Segment -
        Tissue and Mechanical Markets Independently Analyzed with
        Annual Revenues in US$ Million for Years 2009 Through 2017
        (includes corresponding Graph/Chart)                               94

        Table 52: Asia-Pacific Historic Review for Prosthetic Heart
        Valve by Product Segment - Tissue and Mechanical Markets
        Independently Analyzed with Annual Revenues in US$ Million
        for Years 2003 Through 2008 (includes corresponding
        Graph/Chart)                                                       95

        Table 53: Asia-Pacific 15-Year Perspective for Prosthetic
        Heart Valve by Product Segment - Percentage Breakdown of
        Dollar Revenues for Tissue and Mechanical Markets for Years
        2003, 2010 & 2017 (includes corresponding Graph/Chart)             96

  17. REST OF WORLD                                                        97
      A.Market Analysis                                                    97
        Current and Future Analysis                                        97
        Strategic Corporate Developments                                   97
      B.Market Analytics                                                   98
        Table 54: Rest of World Recent Past, Current & Future
        Analysis for Prosthetic Heart Valve by Product Segment -
        Tissue and Mechanical Markets Independently Analyzed with
        Annual Revenues in US$ Million for Years 2009 Through 2017
        (includes corresponding Graph/Chart)                               98

        Table 55: Rest of World Historic Review for Prosthetic Heart
        Valve by Product Segment - Tissue and Mechanical Markets
        Independently Analyzed with Annual Revenues in US$ Million
        for Years 2003 Through 2008 (includes corresponding
        Graph/Chart)                                                       99

        Table 56: Rest of World 15-Year Perspective for Prosthetic
        Heart Valve by Product Segment - Percentage Breakdown of
        Dollar Revenues for Tissue and Mechanical Markets for Years
        2003, 2010 & 2017 (includes corresponding Graph/Chart)             99


 COMPETITIVE LANDSCAPE

     Total Companies Profiled: 18 (including Divisions/Subsidiaries - 19)

     ------------------------------------------
     Region/Country                     Players
     ------------------------------------------
     The United States                     12
     Europe                                 6
      Germany                               2
      The United Kingdom                    1
      Italy                                 1
      Rest of Europe                        2
     Asia-Pacific (Excluding Japan)         1
     ------------------------------------------