Category : Healthcare and Pharmaceuticals | Published at : November-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The market for structural heart devices is expected to grow at a CAGR of around 10.2% from 2020 to 2027 and expected to reach the market value of around US$19.4 Bn by 2027.
Structural Heart Devices consist of various therapeutic interventional devices that are used to efficiently and economically close an abnormal communication between the heart chambers as well as used to reconstruct or replace a diseased or degenerated heart valve through the adoption of a multidisciplinary remedial approach. These are used in structural heart diseases which are also termed as a non-coronary anomaly of the heart. Structural heart diseases refer to cardiac defects which are inherited by birth and can be developed later in life.
Market Dynamics
The rising prevalence of structural heart diseases and regulatory approvals of new and advanced structural heart devices are supporting market growth. The favorable reimbursement scenario and rising awareness of structural heart diseases are supporting market growth. The product approvals for Medtronic, Edwards Life sciences Corporation, Abbott laboratories, Livanova, and micro interventional devices are further bolstering the market value. Furthermore, percutaneous interventions, approval of TAVR for extended indications, the emergence of tissue-engineered heart valves in emerging countries is projected to create potential opportunities over the forecast period from 2020 to 2027.
On the other hand, low affordability and inaccessibility of cardiac surgeries in developing countries are anticipated to hinder the growth to an extent over the forecast period from 2020 to 2027.
Segment Instance
North America accounted for the maximum revenue share in the global market
In 2019, North America is leading the structural heart devices market with maximum revenue share, and the region is also projected to maintain its dominance throughout the forecast timeframe from 2020 to 2027. The presence of skilled professionals and well-established healthcare infrastructure is supporting regional market growth. The increasing number of people with chronic heart diseases is a major region including the US and Canada is supporting the regional market value. The presence of major players in the region is further bolstering the regional market value. The major players are involved in research and development activities in order to provide more advanced solutions in the healthcare sector for effective patient treatment.
Asia Pacific is projected to experience fastest growth in near future
Asia Pacific is anticipated to experience the fastest growth throughout the forecast timeframe from 2020 to 2027. The developing economies including China and India are supporting the regional market growth. The increasing number of patients with structural heart diseases along with the escalating geriatric population, increasing demand for better healthcare facilities, increasing penetration of reimbursement schemes is further bolstering the regional market value.
Key Market Players
The players profiled in the report include Abbott (US), Boston Scientific Corporation (US), Braile Biomédica (Brazil), CryoLife, Inc. (US), Edwards Lifesciences Corporation (US), Lepu Medical Technology (Beijing) Co., Ltd. (China), LivaNova PLC (UK), Medtronic plc (Ireland), Micro Interventional Devices, Inc. (US), TTK Healthcare Limited (India), and others. The major market players were involved in mergers and acquisitions, partnerships & collaborations, and new source development for the expansion of market share.
Target Market Audience:
Hospitals
Healthcare Corporations
Cardiac Surgery Centers
Structural Heart Device Distributors
Medical Service Providers
Structural Heart Devices Manufacturers
Structural Heart Surgeons
Market Segmentation
Market By Product
Heart Valve Devices
- Surgical Heart Valves
- Transcatheter Heart Valves
Occluders and Delivery Systems
Annuloplasty Rings
Other Devices
Accessories
Market By Procedure
Replacement Procedures
- TAVR Procedures
- SAVR Procedures
Repair Procedures
- Closure Procedures
- Annuloplasty
- Valvuloplasty
- TMVR Procedures
Market By Geography
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The market for structural heart devices is expected to reach a market value of around US$19.4 Bn by 2027.
The structural heart devices market is expected to grow at a CAGR of around 10.2% from 2020 to 2027.
The rising prevalence of structural heart diseases and regulatory approvals of new and advanced structural heart devices, favorable reimbursement scenario and rising awareness about structural heart diseases, product approvals for Medtronic, Edwards Life Sciences Corporation, Abbott laboratories, Livanova, and micro interventional devices, and emergence of tissue-engineered heart valves in emerging countries are some of the factors driving the market growth.
Abbott (US), Boston Scientific Corporation (US), Braile Biomédica (Brazil), CryoLife, Inc. (US), Edwards Lifesciences Corporation (US), Lepu Medical Technology (Beijing) Co., Ltd. (China), LivaNova PLC (UK), Medtronic plc (Ireland), Micro Interventional Devices, Inc. (US), TTK Healthcare Limited (India), and others are some of the prominent players in the market.
North America held the highest market share in the structural heart devices market
Asia Pacific is expected to be the fastest growing market over the forecast period
In product segment the Heart Valve Devices (Surgical Heart Valves and Transcatheter Heart Valves) segment is growing at faster pace.
