Structural Heart Devices Market Share Analysis By Type, Indication, Procedure- Forecast Till 2030. The structural heart devices market is a dynamic and rapidly evolving sector within the broader field of cardiovascular healthcare. Characterized by innovations in medical technology, this market focuses on addressing structural abnormalities or defects in the heart through minimally invasive procedures. Structural heart devices play a crucial role in providing alternative treatment options for patients who may not be suitable candidates for traditional open-heart surgery.
Market Research Future (MRFR) anticipates substantial growth in the global structural heart devices market, projecting a notable compound annual growth rate (CAGR) of 10.30% from 2023 to 2030. Driving this growth are factors such as the rising incidence of cardiovascular diseases, the aging global population, and advancements in interventional cardiology techniques. The demand for less invasive and more precise treatment options is a key driver, leading to increased adoption of structural heart devices.
The market encompasses a range of devices, including transcatheter heart valves, annuloplasty rings, and septal occluders, among others. Transcatheter procedures, in particular, have gained prominence, offering patients a less invasive alternative to traditional surgical interventions. These procedures often result in reduced recovery times, improved patient outcomes, and lower healthcare costs.
Geographically, North America and Europe are expected to dominate the structural heart devices market, driven by well-established healthcare infrastructure, high healthcare expenditure, and increasing awareness among both healthcare professionals and patients. However, emerging economies in Asia-Pacific and Latin America are poised to witness significant growth, propelled by improving healthcare infrastructure, rising disposable incomes, and increasing prevalence of cardiovascular diseases.
The prominent structural heart devices market players are ST. Jude Medical, JenaValve Technology Inc., Comed BV, Boston Scientific Corporation (US), LivaNova plc (UK), Cook Group Incorporated (US), Biometrics, Edwards Lifesciences Corporation (US), Abbott (US), W. L. Gore & Associates Inc. (US), Medtronic plc (Ireland), CardioKinetix, and Endologix Inc. (US).
Global Structural Heart Devices Market: Segmental Analysis
The global structural heart devices market has been segmented on the basis of indication, type, procedure, end-user, and region.
By mode of type, the global structural heart devices market has been segmented into occluders and delivery systems, heart valve devices, accessories, annuloplasty rings, and other devices. Among these, the heart valve devices are further sub-segmented into surgical heart valves and transcatheter heart valves. The surgical heart valves are sub-segmented into mechanical heart valves and tissue heart valves. Among these, the heart valve devices segment is considered to account for the largest market share owing to the increasing number of transcatheter aortic valve replacement procedures being performed across the world, growing number of regulatory approvals for heart valve devices, and durability and efficacy of these products.
By mode of indication, the global structural heart devices market has been segmented into cardiomyopathy, valvular heart disease, congenital heart defects, and others. Among these, the valvular heart disease has been further sub-segmented into stenosis and regurgitation.
By mode of procedure, the global structural heart devices market has been segmented into repair procedures and replacement procedures. Among these, the replacement procedures have been further sub-segmented into SAVR procedures and TAVR procedures. The repair procedures have been sub-segmented into annuloplasty, closure procedures, TMVR procedures and valvuloplasty. Among these, the replacement procedures segment is considered to hold the largest market share owing to the long-term durability of such procedures along with the widespread preference for transcatheter replacement.
By mode of end-users, the global structural heart devices market has been segmented into ambulatory surgery centers, hospitals, and others.
Regional Insights
Geographically, the structural heart devices market span across regions namely, Europe, America, Asia-Pacific, and the Middle East & Africa.
The American region is thought to dominate the market for structural cardiac devices globally over all other regions. The market is expanding as a result of the rising number of operations brought on by high blood pressure, diabetes, and other causes. Additionally, rising disposable income, medical tourism, technological improvements, and increased healthcare awareness are projected to drive market expansion in this region.
Europe is considered to hold the second largest position in the global market as structural heart devices market is most prevalent in Germany. Moreover, the increasing geriatric population, rising prevalence of obesity and diabetes are influencing the market growth in this region.
Due to the rising patient population, ageing baby boomer population, and changing lifestyle, the Asia Pacific area is thought to have the fastest growing economy. Such elements are thought to provide suitable backdrops for market expansion.
For More Information Visit @ Market Research Future