Structural Heart Devices Market Scope
Market Research Future (MFRF) studied the global structural heart devices market 2021 for the analysis period till 2023. As per MRFR analysis, the structural heart devices market is expected to expand at 10.4% CAGR through the forecast tenure (from 2018 to 2023). By 2023, the structural heart devices market value is expected to touch number.
Structural Heart Devices Market Drivers and Restrains
The surge in cases of congenital cardiac defects and the increase in need for effective diagnosis for the early detection of such disease can favor the expansion of structural heart device market in the near future. The rise in cases of atrial septal defect, paravalvular leak, ventricular septal defect, arterial or venous fistula, congenital heart disease, and patent foramen oval is creating the demand for minimally invasive techniques, which, in turn, can drive the need for structural heart devices. Thus, can prompt the market upsurge in the analysis tenure. The availability of advanced products, such as; disruptive technology assisted structural heart valves for treating patients can promote the market growth in the years to come. On the contrary, the high expense of structural device is expected to limit the adoption of such device that can restrain the market upsurge.
Segment Analysis of Structural Heart Devices Market
The segment study of the global structural heart devices market is based on type, procedure, indication, and end-user.
The type-based segments of the structural heart device market are occludes and delivery systems, heart valve devices, annuloplasty rings, and accessories among other devices. The segment of heart valve devices consists surgical heart valves and transcatheter heart valves. The segment of surgical heart valves further studies mechanical heart valves and tissue heart valves. The increase in utility of transcatheter heart valves is expected to prompt the market growth.
The indication-based segments of the structural heart device market are valvular heart disease, congenital heart defects, and cardiomyopathy among others. The segment of valvular heart disease studies stenosis and regurgitation. The cardiomyopathy segment can rise at decent CAGR over the review period.
The procedure-based segments of the structural heart device market are repair procedures and Replacement Procedures. The segment of replacement procedures is SAVR procedures and TAVR procedures. The segment of the repair procedures is assessed for closure procedures, valvuloplasty, annuloplasty, and TMVR procedures. The increase in adoption of TMVR procedures is likely to garner high revenue in the years to come.
The end-users-based segments of the structural heart device market are ambulatory surgery centres, and hospitals among others. The segment of ambulatory surgery centres is likely to thrive in the evaluation period.
Regional Analysis of Structural Heart Devices Market
In the Americas, the market of structural heart devices is expected to earn considerable revenue over the analysis tenure for several factors. Increase in rate of surgeries due to pathological conditions, such as; diabetes, and high blood pressure among others can contribute to the expansion of the regional market. Other factors, such as; rise in healthcare awareness, the adoption of disruptive technology, rise in medical tourism, and increase in disposable income can promote North America structural heart device market.
In Europe, the market of structural heart devices market is expected to garner high revenue by 2023. Out of other EU regions, Germany is expected to contribute significantly to the regional market are earn decent revenue by 2023. The upsurge of EU structural heart device market is likely to thrive owing to increase in expansion of elderly population and rise in number of people suffering from obesity and diabetes in this region.
In Asia Pacific region, the market of structural heart devices is likely to earn considerable revenue in the review period owing to the surge in cardiac problem patient population. The structural heart device market in all regions of APAC is anticipated to garner huge revenue in the near future. In the Middle East Asia and Africa, the structural heart device market is likely to expand at sluggish pace due to low per capita income and stringent government policies.
Structural Heart Devices Market Key Players
Edwards Lifesciences Corporation (US), LivaNova plc (UK), Biomerics, ST. Jude Medical, Medtronic plc (Ireland), Abbott (US), Comed BV, Boston Scientific Corporation (US), JenaValve Technology, Inc., CardioKinetix, Endologix Inc. (US)., Cook Group Incorporated (US), and W. L. Gore & Associates, Inc. (US) are some reputed companies in the global structural heart devices market that are listed by MRFR in the report.