Global 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
Competitive Landscape:
There are several structural heart device companies that are impacting the market by launching new structural heart disease devices and implementing other strategies that include mergers, acquisitions, collaborations, spurring the investment in the research and development sector, and others. These companies are Medtronic plc (Ireland), Edwards Lifesciences Corporation (US), LivaNova plc (UK), Abbott (US), Boston Scientific Corporation (US), ST. Jude Medical, Biomerics, Comed BV, JenaValve Technology, Inc., Endologix Inc. (US)., Cook Group Incorporated (US), CardioKinetix, and W. L. Gore & Associates, Inc. (US). MRFR’s analysis of the market focuses on the recent developments made by these companies that will give know-how of how the companies are trying to perform in the coming days. This will also boost the strategy making policies.
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Overview:
The global structural heart devices market is on a path to score a CAGR of 10.4% during the forecast period of 2018 to 2023. Market Research Future (MRFR), in its report, dealt with several factors and restraints to understand the market flow.
Factors included in the market report are the hike in investment for the research and development facilities, better inclusion of advanced technologies, and rising demand for minimally-invasive surgeries. Various private and public organizations are ensuring the maintenance of a proper line of investment flow during the forecast period. A surge in demand for minimally-invasive surgeries is providing scope for the incorporation of advanced technologies. In developing regions, growing development in the healthcare facilities is going to attract better investment and ensure a hike in market revenues.
However, the high cost of products can be a restraint for the global structural heart devices market. In addition, stringent government policies can deter growth.
Regional Analysis
The Americas is projected to lead the structural heart devices market in the forecast period. Rising rate in a number of surgeries due to factors such as diabetes, high blood pressure, and others contribute majorly to the growth of the market. Increasing healthcare awareness, advancement in technology, medical tourism, and an increase in disposable income are some other factors that boost the growth of the market.
The European market is expected to hold the second largest market share as structural heart devices market is most common in Germany. The European market is projected to grow because of the increase in elderly population, growing prevalence of diabetes, and obesity in the region.
Asia-Pacific was projected to be the fastest growing region for the global structural heart devices market in 2018. The market is expected to witness growth owing to the rising patient population, changing lifestyle, and growing elderly population. This is expected to provide favorable backgrounds for the market to grow.
The Middle East and Africa accounts for the least share due to stringent government policies and low per capita income.
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Segmentation
The global structural heart devices market has been segmented on the basis of type, indication, procedure, and end-user. On the basis of type, the market has been classified as heart valve devices, occluders and delivery systems, annuloplasty rings, accessories, and other devices. The heart valve devices are segmented into transcatheter heart valves and surgical heart valves. The surgical heart valves are further sub-segmented into tissue heart valves and mechanical heart valves. On the basis of indication, the market has been classified as valvular heart disease, cardiomyopathy, congenital heart defects, and others. The valvular heart disease is segmented into regurgitation and stenosis. On the basis of procedure, the market has been classified as Replacement Procedures and repair procedures. The Replacement Procedures is segmented into TAVR procedures and SAVR procedures. The repair procedures are segmented into closure procedures, annuloplasty, valvuloplasty, and TMVR procedures. On the basis of end-users, the market has been classified as hospitals, ambulatory surgery centers, and others.
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From the last 10 years, tremendous growth have been noticed in Structural heart devices market.
With increasing population, and growing health awareness among people, the Structural Heart Disease Market is expected to expand at a very high rate.The structural heart devices market are categorized into the following segments and subsegments: o the basis of product: Heart Valve Devices, Surgical Heart Valves, Transcatheter Heart Valves, Occluders and Delivery Systems, Annuloplasty Rings, Other Devices, Accessories; on the basis of procedure: Replacement Procedures, TAVR Procedures, SAVR Procedures, Repair Procedures, Closure Procedures, Annuloplasty, Valvuloplasty, TMVR Procedures; on the basis of geography: North America, Europe, Asia Pacific, Rest of the World.
Due to pollution and bad living habits, the cardiovascular diseases including structural heart diseases have become leading cause of death, now a days.
These factors are the key growth drivers of the Structure Heart Devices Market and will keep taking the market to new heights.The major restraints include the lack of availability of skilled cardiovascular Interventionist.
Whereas the increasing health awareness is helping in the growth of market and also the hospitals are these days following the international standards for these cardiovascular diseases.Among all the segments, Occluders and Delivery Systems are having the largest market share.
With the growing population, pollution is also increasing which in turn caused the scarcity of purified drinking water and adulteration of food.
Structural heart diseases include cardiomyopathy, myocarditis, aortic valve stenosis, heart valve disease, atrial septal defect, mitral valve regurgitation, and others.
As per the latest report of Market Research Future (MRFR), the structural heart devices market is poised to expand at CAGR of 10.4% over the forecast period.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/6385The structural heart devices market is primarily driven by a radical rise in the incidence rate of non-coronary heart disorders, increased demand for minimally invasive surgical procedures, and improving reimbursement schemes.
In the past few years, tremendous advances have been achieved with respect to the understanding of these diseases, and accordingly, therapeutic modalities have been developed.
Several clinical trials and technology developments are underway, which is likely to provide the structural heart devices market opportunities for growth in the coming years.SegmentationThe structural heart devices market has been segmented based on type, indication, procedure, and end-user.By type, the structural heart devices market has been segmented into heart valve devices, occluders and delivery systems, annuloplasty rings, accessories, and other devices.
The repair procedures segment has been further segmented into closure procedures, annuloplasty, valvuloplasty, and TMVR procedures.By end-user, the structural heart devices market has been segmented into hospitals, ambulatory surgery centers, and others.Regional AnalysisRegion-wise, the structural heart devices market has been segmented into North America, Europe, the Middle East & Africa (MEA), and Asia Pacific (APAC).North America is the dominant market for structural heart devices.
High prevalence of cardiovascular disorders, fast uptake of the latest technologies, and high healthcare expenditure are the factors that are driving the North America market.
According to research report the global structural heart devices market is projected to reach USD 15.08 billion by 2023 from USD 9.28 billion in 2018, at a CAGR of 10.2%.
Growth in the structural heart devices market is mainly driven by factors such as the rising prevalence of structural heart diseases, regulatory approvals for new and advanced structural heart devices, favourable reimbursement scenario for structural heart procedures & devices, and increasing awareness about structural heart diseases.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=161123753 Players in this market compete to deliver superior and advanced technologies for heart valve repair and replacement.
Edwards Lifesciences held the leading position in the global structural heart devices market in 2017 on account of its diverse portfolio of transcatheter and surgical heart valves.
The company pursues organic as well as inorganic growth strategies, such as product launches & approvals and acquisitions to further increase its market share and strengthen its foothold in the surgical heart devices market.
The unique beating-heart repair procedure for mitral valve patients of Harpoon Medical complements Edwards’ comprehensive portfolio of treatments for structural heart disease and reinforce its commitment to innovation in cardiac surgery.
