Structural Heart Devices Market Size, Growth and Share Analysis By Type (Heart Valve Devices, Annuloplasty Rings, Occluders, and Delivery Systems), Indication (Valvular Heart Disease, Cardiomyopathy), Procedure (Replacement Procedures, Repair Procedures), Global Forecast Till 2023
Structural Heart Devices Market Analysis:
The global report suggests that the structural heart devices market is on a track to register 10.4% CAGR during the forecast period of 2018 to 2023. In its report, Market Research Future (MRFR) states that the structural heart devices market size will get bolstered by factors related to technologies.
MRFR’s report on the structural heart device market relies on a proper study of various influencers like the growing demand for minimally-invasive surgeries, a surge in the number of patients suffering from cardiac issues, inclusion of advanced technologies to support path-breaking treatments, a hike in elderly patients, better reimbursement policies, and others. Demand for better diagnosis is triggering the growth in the adoption of interventional cardiology imaging. The application of structural heart TAVR is also rising, which can boost the structural heart device market prospect.
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However, the structural heart devices market would get affected by the high price of various devices. A lot of hospitals, especially in underdeveloped and developing regions, would refrain from using such costly devices. But the rise in structural heart therapies can guarantee better profit margins.
Structural Heart Devices Market Regional Analysis:
The Americas is leading the global structural heart device market from the front and its structural advantages, assistance from the constant influx of investment, and technological aspect are expected to boost the regional structural heart device market growth. The US and Canada would play prominent roles in creating traction. However, the structural heart device market would also benefit from countries like Mexico, Argentina, and Brazil. In Europe, countries splurge in the healthcare sector, which would boost the structural heart device market.
Structural Heart Devices Market Competitive Landscape:
Medtronic plc (Ireland), Edwards Lifesciences Corporation (US), Boston Scientific Corporation (US), Abbott (US), Biomerics, Comed BV, JenaValve Technology, Inc., CardioKinetix, ST. Jude Medical, Endologix Inc. (US)., Cook Group Incorporated (US), LivaNova plc (UK), and W. L. Gore & Associates, Inc. (US) are some of the markets that are getting actively involved in the global market for structural heart devices. These companies are known for their exclusive participation in the market to ensure the growth of the market and cementing their own positions.
Structural Heart Devices Market Segmentation:
The global structural heart devices market, as studied by MRFR analysts, has segments like type, indication, and procedure. These segments are enriched with factors, figures, graphs, and charts to support the claims mentioned in the report.
By procedure, the report on the structural heart devices market can be studied on the basis of replacement procedures and repair procedures. The replacement procedures encompass TAVR procedures and SAVR procedures. The repair procedures rely on a study of annuloplasty, valvuloplasty, closure procedures, and TMVR procedures.
By type, the study of the structural heart devices market has been segmented into occluders and delivery systems, heart valve devices, accessories, annuloplasty rings, and other devices. The heart valve devices segment has been studied on the basis of transcatheter heart valves and surgical heart valves. The surgical heart valves include tissue heart valves and mechanical heart valves.
By indication, the report on the structural heart device market has been segmented into congenital heart defects, cardiomyopathy, valvular heart disease, and others. Valvular heart disease incorporates regurgitation and stenosis.
By end-users, the study on the structural heart devices market includes details of ambulatory surgery centers, hospitals, and others.
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Structural Heart Devices Industry News:
The recent COVID-19 crisis has triggered several changes in the market as the need for various heart-related devices is rising.
SMT (Sahajanand Medical Technologies Pvt Ltd) announced that it would join the structural heart segment by taking over a medical device firm named Vascular Concepts.
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