• Shift in procedures for aortic stenosis and mitral regulation continue to drive robust growth in structural heart devices market. The technical advancements in healthcare procedures continue to make way for minimally-invasive methods, which are ideal for elderly patients
• The tissue engineered heart valves or biological valves will emerge as the largest segment in the market with an anticipated valuation of US$ 8 bn by 2027 end. The segment accounted for 55% market share in 2018

ALBANY, New York, Feb. 24, 2020 /PRNewswire/ -- Growing concern about unmet medical needs, and demand for better diagnosis are likely to fuel further growth for players in the Structural Heart Device Market. Additionally, the rising geriatric population, and increasing emphasis on private reimbursement models are likely to drive a robust 7.5% CAGR in the structural heart device market.

New innovations in the market are expected to create several opportunities for growth in the structural heart device market. For example, Xeltis, a clinical-stage medical device offers restorative solutions for patients in need for cardiovascular therapy. According to TMR analysts, "the cardiovascular disease has become a chronic concern for people in the healthcare sector, and in the population at large. Its growing epidemic, and relatively few effective solutions, and positive adoption of the FDA towards therapeutic approaches signals a bright horizon for growth during the forecast period".

Key Findings in the Structural Heart Device Market Study 

• Over 13,295 TAVR procedures were performed in the UK between 2007 and 2016. The TAVR or Transcatheter Aortic Valve Replacement remains a major driver of growth among patients who require an open heart surgery.
• The rising use of hybrid procedures for treatment will likely give rise to new mechanisms such as catheter labs, and hybrid operating rooms. The development are expected to create multiple opportunities with modern equipment, high quality imaging systems, and multi-disciplinary capabilities. The development will also bring cost-efficient, and more productive systems for healthcare professionals.
• The catheter technology will also undergo major developments in near future. The technology has recently been upgraded with adoption of advanced Computed Tomography or CT scanning. The procedure will make way for more non-invasive procedures, boosting demand for players in the structural heart device market.
• 3D rotational angiography will also emerge as a major avenue for growth for players in the structural heart device market. The enhanced visualization offered by the technique is ideal for offering remedial solutions to chronic total occlusions or CTO. The high-costs of equipment remains a concern for medical equipment technology, but the incorporation of the technology will likely drive significant growth.

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Key Impediments for Structural Heart Device Market Players

• Stringent government regulations, and large costs associated with hospitalization, and limited reach of private insurance players remain a concern for players in the structural heart devices market.
• Additionally, the lack of awareness about regular medical checkups for elderly patients also remains a restraint in expansion of the structural heart devices market. However, this is changing slowly. In 2017, the Alliance for Aging Research ran a National Heart Valve Disease Awareness campaign in United States. Collaborations with organizations like these will make way for more opportunities for growth for players in the structural heart devices market.

Structural Heart Device Market: Region-wise Analysis

North America will likely hold the largest share of total revenues in the global structural heart devices market. The region accounted for 42% share of the total revenues in 2018 the innovative procedures in the region, and positive adoption of technological advancements, and product launches remain major drivers for growth.

Procedures like interventional catheter technologies remain at the forefront of driving growth globally. These have been adopted globally to support hybrid procedures, and modernization of healthcare systems. The growing collaboration between surgeons, cardiologists, and interventionists will drive major growth for the structural heart devices market in the near future.

Structural heart device market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.

Structural Heart Device Market: Competitive Analysis

Main players in the structural heart device market are Medtronic, Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences Corporation, LivaNova plc, Lepu Medical. New product innovations to meet patient needs for mitral valve replacement remains a major strategy adopted by key players in the market. Additionally, acquisitions, and mergers also remain integral to approach of key players to expand their footprint in the global structural heart device market.

Global Structural Heart Devices Market: Segmentation

Structural Heart Devices Market by Product

• Biological/Tissue Valves
• Transcatheter Heart Valves
• Surgical Heart Valves
• Mechanical Heart Valves
• Annuloplasty Rings
• Occluders
• Accessories

Structural Heart Devices Market by Procedure

• Replacement Procedures
• Repair Procedures

Structural Heart Devices Market by Indication

• Valve Stenosis
• Valve Regurgitation
• Cardio Myopathy
• Congenital Heart Defects
• Others

Structural Heart Devices Market by Region

• North America
• U.S.
• Canada
• Rest of North America
• Europe
• Germany
• France
• U.K.
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Australia
• Rest of Asia Pacific
• Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
• South America
• Brazil
• Rest of South America

Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:

Transcatheter Aortic Valve Replacement Market - Rising patient awareness about the benefits of minimally invasive procedures such as less traumatic surgical experience, reduced hospital stay and faster recovery would meet the patients demand. Factors such as increasing number of minimally invasive surgeries, growing patient awareness and increase in screening and detection of AAA would boost the demand for transcatheter aortic valve replacement.

Chronic Disease Management Market - Chronic diseases are long-term clinical conditions that progress over the time. It is considered an expensive and most prevalent health care issue across the globe. Chronic disease management programs, thus, is an organized and proactive set of interventions that focuses on needs of the patient population.

Hybrid Operating Room Market - The global market is expected to maintain its high growth pace in the near future, thanks to the presence of favorable government norms and policies, increasing preference for minimally invasive surgeries, and the massive investments for the development of novel technologies that can help in improving healthcare systems for patients. The market's opportunity is anticipated to reach US$661.8 mn by 2017. It is further expected to proliferate at a CAGR of 4.60% between 2017 and 2022, increasing to US$828.1 bn by the end of 2022.

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