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The market for heart valves is heating up in Europe. Despite the cardiovascular device industry's pricing pressures and competitive landscape, the heart valve industry is projected to grow to $2 billion within the next five years. Medtronic's (NYSE: MDT ) already one of the top players in Europe with its CoreValve device, but the company won another victory recently when European regulators gave the CoreValve CE Mark approval to be used in valve-in-valve replacements, a first for the industry.
Why is this important? Medtronic's battling with Edwards Lifesciences's (NYSE: EW ) Sapien heart valve for market share in Europe, and upstarts Boston Scientific (NYSE: BSX ) and St. Jude Medical (NYSE: STJ ) are looking to punch into the European industry with their Lotus and Portico valves, respectively. Medtronic's valve-in-valve approval gives the company a leg up on its competition, but is it enough to entrench this firm as a leader in the industry? Motley Fool contributor Dan Carroll and health-care analyst Max Macaluso discuss what you need to know below.
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