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Structural Heart Devices Market to Hit USD 25.69 Billion by 2029 with 9.5% CAGR | MarketsandMarkets™


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MarketsandMarkets

12 Dec, 2024, 15:30 GMT

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DELRAY BEACH, Fla., Dec. 12, 2024 /PRNewswire/ -- The global Structural Heart Devices market is expected to grow to USD 25.69 Billion by 2029, up from USD 16.31 Billion in 2024, at a CAGR of 9.5% over the forecast period. The growth drivers in the structural heart devices market are the upward trend in valvular and congenital heart diseases, advancements in minimally invasive technologies such as TAVR and TMVR and increasing adoption due to an increasing age population and better healthcare infrastructure all over the world.

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Browse in-depth TOC on "Structural Heart Devices Market"
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Based on product, the Structural heart devices market is segmented into Heart Valve Devices, Occluders, Closure systems and Delivery systems, Annuloplasty rings, and accessories.

The Heart valve devices are further segmented into transcatheter heart valves and surgical heart valves. The Transcatheter Heart valve is further segmented into transcatheter aortic heart valve and transcatheter mitral heart valves. The transcatheter heart valve (THV) segment has emerged as a dominant force in the structural heart devices market due to several key drivers. The increasing prevalence of valvular heart diseases, particularly among the aging population, significantly fuels demand for these devices. As the global population ages, conditions such as aortic stenosis become more common, necessitating effective treatment options. The combination of an aging population, technological innovations, favorable reimbursement frameworks, and a growing preference for minimally invasive procedures positions the transcatheter heart valve segment as a dominating segment in the structural heart devices market.

Based on geography, The Structural heart devices market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America accounts for the largest share during the forecast period. North America, notably the United States and Canada, has a sophisticated healthcare infrastructure, including well-established hospital systems, healthcare facilities, and broad networks of healthcare providers. The aging population, sedentary lifestyles, and dietary habits all contribute to the increased prevalence of cardiovascular diseases thereby increasing the demand for structural heart devices market.

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The few strong players in this market are Edwards Lifesciences Corporation (U.S.), Boston Scientific Corporation (U.S.), Medtronic ( U.S.), Philips(Japan), Merit Medical Systems (U.S.), Abbott (U.S.), and Terumo Corporation (Japan) among others. Edwards Lifesciences Corporation (U.S.), Medtronic (Ireland), Boston Scientific Corporation (U.S.), Abbott (U.S.), Teleflex (U.S.), Integer Holdings Corporation(U.S.), Lepu Medical Technology Co. Ltd. (China), TTK (India), Artivion, Inc. (U.S.), Venus Medtech, Inc.(China),Cook(U.S.),SMT (India), Meril Lifesciences Pvt. Ltd (India), W.L Gore & Associates, Inc. (U.S.), Cordis (U.S.), Foldax (U.S.), Micro Interventional Devices, Incorporated (U.S.), Cardiac Dimensions (U.S.), HighLife Medical (France), Mitralign (U.S.), Braile Biomedica (Brazil), JenaValve (Germany), Corcym (Italy), Xeltis (Switzerland) and Innovheart SRL (U.S.) among others.

EDWARDS LIFESCIENCES CORPORATION (U.S.)

Edwards Lifesciences Corporation is a global leader in developing innovative medical technologies for treating structural heart diseases, with a strong focus on improving patient outcomes through minimally invasive therapies. The company specializes in transcatheter and surgical heart valve solutions, addressing critical conditions such as aortic stenosis, mitral regurgitation, and other valvular disorders. Edwards' structural heart portfolio is centered around pioneering devices that provide less invasive alternatives to open-heart surgery, expanding access to high-risk and inoperable patients. Notable examples include the SAPIEN 3 Ultra Transcatheter Heart Valve, a leading device in transcatheter aortic valve replacement (TAVR) known for its durability and enhanced sealing capabilities, and the PASCAL Repair System, designed for transcatheter mitral and tricuspid valve repair with precise leaflet capture for optimal outcomes. Through its innovations, Edwards Lifesciences continues to shape the future of structural heart therapies, addressing growing global healthcare needs.

BOSTON SCIENTIFIC CORPORATION (U.S.)

Boston Scientific Corporation is a leading global developer and manufacturer of medical devices, with a significant focus on advancing minimally invasive therapies for structural heart disease. The company's structural heart portfolio targets conditions such as left atrial appendage closure, valvular heart disease, and congenital defects, providing innovative solutions that improve patient outcomes and reduce the risks associated with traditional open-heart procedures. A standout device is the WATCHMAN FLX Left Atrial Appendage Closure Device, which is designed to reduce stroke risk in patients with atrial fibrillation by providing a permanent, minimally invasive alternative to long-term anticoagulant therapy. Another key product is the ACCURATE neo2 Transcatheter Aortic Valve, which offers enhanced positioning and sealing features for treating severe aortic stenosis via transcatheter aortic valve replacement (TAVR). Boston Scientific's continued investment in research and development ensures its structural heart devices address unmet clinical needs and drive growth in this dynamic market.

MEDTRONIC (U.S.)

Medtronic is a global leader in medical technology, offering a diverse portfolio of innovative solutions for structural heart disease, aimed at improving patient outcomes through minimally invasive therapies. The company's structural heart segment focuses on addressing complex valvular disorders, congenital heart defects, and cardiac complications with advanced technologies. A flagship product in this domain is the Evolut PRO+ Transcatheter Aortic Valve System, designed for transcatheter aortic valve replacement (TAVR) with features that ensure superior sealing and durability for patients with severe aortic stenosis. Another key innovation is the Harmony Transcatheter Pulmonary Valve, specifically developed to treat congenital heart disease by restoring proper blood flow between the right ventricle and pulmonary artery. Medtronic's commitment to research and development, coupled with its global reach, positions it as a leader in advancing the field of structural heart therapies and expanding access to life-saving treatments.

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Related Reports:

Interventional Cardiology Devices Market

Minimally Invasive Surgical Instruments Market

Sternal Closure Systems Market

Biomaterials Market

Vascular Stent Market

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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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