Market Analysis
The Global Structural Heart Devices Market is gaining enough weightage and is eyeing to grow at a phenomenal 10.4% CAGR over the predicted years (2018-2023) owing to uncompromising increase in aortic stenosis, mitral regurgitation and other heart related ailments. Structural heart diseases simply put refer to the cardiac defects that happens by birth which means it is congenital by nature and involves the abnormalities that takes place in the heart vessels and valves due to wear or tear resulting from some diseases.
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This is a non-coronary heart abnormality that does not impact the heart’s blood vessels. The common structural heart condition includes congenital heart disease, venous/arterial fistulae, paravalvular leak, and ventricular septal defect, patent foramen oval and atrial septal defect.
There are many factors that is driving the growth of the structural heart devices market. Some of these factors as per the Market Research Future (MRFR) report include upsurge in structural heart diseases, favorable reimbursement scenario in structural heart devices and heart procedures, regulatory approvals for advanced and new structural heart devices, rising awareness regarding structural heart diseases, demand for minimally invasive techniques, increasing number of surgeries owing to factors such as high blood pressure and diabetes, rise in disposal income, medical tourism, technological advancement, increasing healthcare awareness, rise in elderly population, increasing patient population and changing lifestyle. On the other hand, factors such as inaccessibility of cardiac surgeries, low affordability and lack of skilled personnel may slow the structural heart devices market pace over the predicted years.
Key players profiled in the structural heart devices market include,
Abbott (US),
Medtronic plc (Ireland),
Edwards Lifesciences Corporation (US).
Industry News:
Dec 2018- Keystone Heart is all set to enroll patients in the United States for testing the efficacy of the TriGuard 3 product. It is waiting for an approval from the FDA by the end of 2019 and is also expecting the CE Mark approval.
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.
Market Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the structural heart devices market on the basis of type, indication, procedure and end-user.
Based on type, it is segmented into accessories, annuloplasty rings, delivery systems, occluders, heart valve devices and others. The heart valve devices are further segmented into surgical heart valves and transcatheter heart valves. The surgical heart valves are again segmented into mechanical heart valves and tissue heart valves. Of these, the heart valves devices is anticipated to grow at the highest CAGR over the predicted years.
Based on indication, the structural heart devices market is segmented into congenital heart defects, cardiomyopathy, valvular heart disease and others. The valvular heart disease is further segmented into stenosis and regurgitation. Of these, valve regurgitation is expected to grow at a favorable CAGR.
Based on procedure, it is segmented into repair procedures and replacement procedures. The replacement procedures are segmented into SAVR procedures and TAVR procedures. The repair procedures are further segmented into TMVR procedures, valvuloplasty, annuloplasty and closure procedures. Of these, the replacement procedures will have the maximum share in the market.
Based on end-users, the structural heart devices market is segmented into ambulatory surgery centers, hospitals and others. Of these, hospitals will have the largest share.
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Regional Analysis
Based on region, the structural heart devices market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and the Middle East and Africa. Of these, North America will remain at the forefront owing to increasing number of surgeries owing to factors such as high blood pressure, diabetes and others, advancement in technology, increasing healthcare awareness and rise in disposable income.
The structural heart devices market in Europe will have the second largest share with the soaring demand for structural heart devices in Germany. The market in the European region is anticipated to expand owing to obesity, prevalence of diabetes and rise in elderly population. In Asia Pacific, the structural heart devices market is expected to grow at the fastest pace due to increasing patient population, growing elderly population and changing lifestyle. On the other hand, the structural heart devices market in the Middle East and Africa will have minimum share owing to low per capita income and stringent government policies.
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