Market Analysis and Insights: Global Structural Heart Devices Market
The structural heart devices market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 10.08% in the forecast period of 2021 to 2028 and is expected to reach USD 4,492.52 million by 2028. The rise in the prevalence of target diseases among population across the globe is escalating the growth of structural heart devices market.
Structural heart disease refers to an extensive type of percutaneous treatment for the patients suffering from both congenital heart disease and acquired heart disease involving structural and functional abnormalities of heart valves, proximal great vessels and cardiac chambers. These conditions could be witnessed since birth but may also occur later in life, because of wear and tear from infection.
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The global structural heart devices market is analyzed and market size insights and trends are provided by the country, product, procedure, age group, indication and end user as referenced above.
The increasing prevalence of several kinds of structural heart diseases, surge in expanded indication approval for various transcatheter structural heart products and the growth in geriatric population burdened with various kinds of degenerative valvular heart diseases are the major factors driving the structural heart devices market. The rise in demand for highly efficient procedures among people, the increasing inclination towards minimally invasive structural heart therapeutic products from the value centric patient population and rise in research and development spending for developing innovative and technologically advanced products accelerate the structural heart devices market growth. The growing popularity of annuloplasty repair devices, valvuloplasty devices and occluders among other devices, high utilization of the various structural heart therapeutic products for the numerous and varied types of structural heart diseases among the patients and introduction of technologically advanced structural heart products with better therapeutic outcomes influence the structural heart devices market. Additionally, rise in patient pool globally, increasing demand for better healthcare facilities, favorable reimbursement scenario and growing awareness about structural heart diseases positively affect the structural heart devices market. Furthermore, percutaneous interventions, emergence of tissue-engineered heart valves and approval of TAVR for extended indications extend profitable opportunity to the structural heart devices market players in the forecast period of 2021 to 2028.
On the other hand, low affordability and inaccessibility of cardiac surgeries in emerging economies are factors expected to obstruct the structural heart devices market growth. Lack of skilled personnel is projected to challenge the structural heart devices market in the forecast period of 2021 to 2028.
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This structural heart devices market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on structural heart devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Structural Heart Devices Market Scope and Market Size
The structural heart devices market is segmented on the basis of product, procedure, age group, indication and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
• On the basis of product, the structural heart devices market is segmented into heart valve devices, transcatheter heart valves, surgical heart valves, occluders and delivery systems, annuloplasty rings, accessories and other devices. Surgical heart valves are further segmented into tissue heart valves and mechanical heart valves.
• On the basis of procedure, the structural heart devices market is segmented into replacement procedures and repair procedures. Replacement procedures are further segmented into TAVR procedures and SAVR procedures. Repair procedures are further segmented into closure procedures, annuloplasty, valvuloplasty and TMVR procedures.
• On the basis of age group, the structural heart devices market is segmented into pediatric and adults. Pediatric is further segmented into infants (6 months to 12 months), toddlers (1-2 years), new born (0-5 months), preschooler (3-5 years, school-aged children (6-12 years) and adolescent (13-18 years). Adults is further segmented into young adults (19-24 years), adulthood (25-39 years) , middle-aged persons (40-59 years) , older people/old age (60-84 years) and very old (85+ years).
• On the basis of indication, the structural heart devices market is segmented into atrial septal defect (ASD), ventricular septal defect (VSD), patent foramen ovale (PFO), aortic valve stenosis and others.
• On the basis of end user, the structural heart devices market is segmented into hospitals and ambulatory surgical centers.
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The countries covered in the global structural heart devices market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the structural heart devices market because of the preference for minimally invasive procedures and increasing rate of endovascular procedures in the region. Asia-Pacific is expected to witness the highest CAGR in the forecast period of 2021-2028 because of improved newborn screening programs, increasing awareness about cardiac diseases among population and enhanced healthcare access.
The country section of the structural heart devices market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The major players covered in the structural heart devices market report are Micro Interventional Devices, Inc., Braile Biomédica, Lepu Medical, TTK HealthCare, Abbott, Medtronic, Edwards Lifesciences Corporation, Boston Scientific Corporation, CryoLife Inc., LivaNova PLC, Cook Group, Endologix Inc., W. L. Gore & Associates, Inc., Medical Technology Est., JenaValve Technology, Inc., Integer Holdings Corporation, Comed B.V., Biomerics, Dynaflex, Cardiac Dimensions Pty. Ltd. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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