Market Insights:
Market Research Future (MRFR)’s latest report has revealed that the global structural heart devices market is set to exhibit moderate growth at a healthy CAGR during the forecast period 2024 to 2032. The rising prevalence of structural heart diseases, both inherited and developed, have catapulted the global market on an upward trajectory.
The key players have catalyzed investments in research & development related to structural heart devices to capitalize on the intensely competitive landscape of the structural heart devices market. This, in turn, is anticipated to accelerate revenue creation for the market players.
A shift towards the minimally invasive technology is another key factor expected to fuel demand and innovation in the market. Furthermore, the favorable reimbursement policies are set to aid the structural heart devices market proliferation.
Increasing awareness about diseases coupled with the availability of effective treatments is expected to have a positive influence on the expansion of the structural heart devices market in the foreseeable future. However, the high cost of equipment, expensive surgeries, and stringent laws enforced remain impediments to the structural heart devices market proliferation.
Market Segmentation:
By type, the global structural heart devices market has been segmented into heart valve devices, occluders and delivery systems, annuloplasty rings, accessories, and other devices.
By indication, the structural heart devices market is segmented into valvular heart disease, cardiomyopathy, congenital heart defects, and others.
By procedure, the global structural heart devices market has been segmented into replacement procedures and repair procedures.
By end-users, the structural heart devices market is segmented into hospitals, ambulatory surgery centers, and others.
Regional Analysis:
By region, the global structural heart devices market has been segmented into Americas, Europe, Asia-Pacific, and the Middle East and Africa. Led by North America, Americas is expected to hold the largest share of the global market towards the end of the forecast period. The factors favoring the growth of the structural heart devices market in the region are the early adoption of the technology, advancements in healthcare technologies, increasing awareness about structural heart diseases, improving reimbursement policies, etc.
Europe is the second largest market for structural heart devices. It is likely to retain its position through the projection period. The factors responsible for the growth of the market are increasing demand for advanced treatment procedures, rising prevalence of structural heart diseases, etc.
Asia Pacific is poised to exhibit tremendous growth over the next couple of years. Meanwhile, the Middle East & Africa is projected to account for the least share in the global structural heart devices market.
Competitive Dashboard:
Some of the key players of the market profiled in the report are Medtronic plc (Ireland), LivaNova plc (UK), ST. Jude Medical, Biomerics, Comed BV, Abbott (US), Boston Scientific Corporation (US), CardioKinetix, Cook Group Incorporated (US), JenaValve Technology, Inc., Endologix Inc. (US)., Edwards Lifesciences Corporation (US), and W. L. Gore & Associates, Inc. (US).
Industry News:
In September 2018, 4C Medical Technologies, a medical device company, raised USD 17 Mn for the development of minimally invasive therapies for structural heart diseases.
In September 2018, BTG, a U.K.-based healthcare company, acquired Irish medical devices developer, Novate Medical, for strengthening its position in the vascular market.
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