Structural heart devices market is expected to reach US$ 15.5Bn by 2026 at a CAGR of 10.5% during the forecast period. The structural heart devices market has gained weight in recent years due to the uncompromising rise in mitral regurgitation, aortic stenosis, and other related heart diseases.
A rise in the incidence of aortic stenosis, increase in awareness about the benefits and availability of structural heart devices worldwide, and the introduction of technologically advanced products (such as the Trifecta valve with Glide Technology) has driven the market demand of structural heart devices market. Healthcare expenditure and the growing geriatric population is expected to create market opportunities for the structural heart devices in the future as well. Furthermore, stringent approval process and a high cost of surgeries may hamper the growth of the market acting as some of the major restraints for the market growth.
Structural Heart Devices Market, By Region
- North America
- Latin America
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Structural heart devices market is segmented by product, procedure, and region. Among procedures, surgical aortic valve replacement (SAVR), transcatheter aortic valve replacement (TAVR) segment market accounted for the largest share in 2016. Surgical aortic valve replacement dominated in 2016 due to its proved efficacy in the treatment and established reimbursement codes.
Key Players, Structural Heart Devices Market
- Edwards Lifesciences Corporation
- Medtronic plc
- Boston Scientific Corporation
- LivaNova plc (UK).
Based on products, surgical heart valves product is expected to be one of the fastest growing segments in the forecast period. The minimally invasive surgical nature of the procedure is the key reason for this rapid growth.
Among regions, the North America region is expected to grow at the highest CAGR during the forecast period due to a high prevalence of cardiovascular disease, increasing adoption of angiographic procedures and rising demand of accurate diagnosis. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing awareness of cardiac diseases, better newborn screening programs, and improvement in healthcare access.
The scope of Structural Heart Devices Market report:
Structural Heart Devices Market, by Product
- Heart Valve Devices
- Surgical Heart Valves
- Transcatheter Heart Valves
- Occluders and Delivery Systems
Structural Heart Devices Market, by Procedure
- Replacement Procedures
- TAVR Procedures
- SAVR Procedures
- Repair Procedures
- Closure Procedures
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There is a sturdy growth in the production as new companies are entering the structural heart market. For example, in May 2016, a leading medical devices company, Edwards Lifesciences Corporation (US) announced its intentions to enter the structural heart market.
In the structural heart devices market, Boston Scientific Corporation holds the leadership position due to production capacity expansion, brand portfolio expansion, mergers, collaborations, and acquisitions. In 2018, the company has adopted new product launches, product enhancements, and geographic expansion as its crucial business plans to certify its dominance in this market.
Some TOC Points Covered in This Structural Heart Devices Market Report are:
Chapter 1: Preface
Chapter 2: Assumptions and Research Methodology
Chapter 3: Executive Summary
Chapter 4: Market Overview
Chapter 5: Supply Side and Demand Side Indicators
Chapter 6: Market Analysis and Forecast
Chapter 7: Company Profiles
Chapter 8: Primary Key Insights
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