This analysis includes a discussion of products, current/forecast markets, competitors, and opportunities in the surgical heart valve repair (annuloplasty) systems and surgical heart valve replacement products markets for the US, 5 Euro (France, Germany, Italy, Spain, and UK), Japan, and Rest of World markets from 2020–25. The combined global market for surgical heart valve management products totaled nearly $1.8 billion in 2018, with small losses expected over the forecast period covered by this report as less invasive techniques such as TAVR draw market share from open surgical techniques. The US accounted for just over half of surgical heart valve and replacement products sold globally, with the five major EU markets accounting for 22%, Japan accounting for 7%, and the rest of world markets accounting for the remaining sales. The COVID-19 pandemic resulted in significantly reduced cardiac procedure volumes in 2020, resulting in related sales declines of up to 10% for many companies. A temporary sales boost is expected in 2021 as many deferred surgeries are rescheduled, followed by a return to typical market trends in subsequent years, with transcatheter techniques drawing market share.