Industry Outlook
Over the past three decades, several transcatheter technologies and devices for surgical interventions in structural heart diseases have been introduced in the market. There are several technologies currently under development that use transcatheter intervention techniques. The growth in variety of approach through percutaneous treatment has resulted in evolution of clinical care. The previous few years have also witnessed greater application of new catheter based treatments for structural heart disease. Several of these interventional procedures have excellent clinical outcomes therefore consequently gaining greater acceptance among patients and surgeons alike. Rapid penetration of minimally invasive interventions for treatment of structural heart diseases has been further supplemented by advanced imaging technologies. Introduction of novel imaging technologies has assisted in precise identification and diagnosis of structural heart diseases for appropriate patient selection for different intervention procedures.
"Greater demand for heart valve devices to be prominently witnessed during the forecast period"
Based on the type of devices, the global structural heart devices market is segmented into heart valve devices, repair devices and accessories. Among these, the demand for heart valve devices is set to remain the highest during the forecast period. The heart valve devices market is significantly large and rapidly growing. It is mainly driven by continuous adoption and commercialization of new devices and rapidly growing pool of geriatric cardiovascular disease affected population. Increasing amounts of positive clinical evidence is also supporting the demand for heart valve devices. Moreover, the competitive front of this segment is also continuously shifting with small innovator companies being consistently acquired by cash rich and established market players. The pipeline of heart valve devices is also observed to be strong with new long-lasting devices anticipated to be introduced in the coming years.
"Replacement procedures segment to register the highest CAGR during the forecast period"
On the basis of procedure types, this market is categorized into repair and replacement procedures. The repair procedures segment is further segmented into valvuloplasty, transcatheter mitral valve repair (TMVR), annuloplasty and others; whereas the replacement procedures segment is studied for tissue heart valves, mechanical heart valves, and transcatheter aortic valve replacemnet (TAVR). The demand for replacement procedures is anticipated to be the highest during the forecast period. Consistent growth in the geriatric population with high vulnerability to debilitating cardiovascular diseases is the key factor attributed to the growth of this segment. Improved long term durability, growing uptake of minimally invasive and transcatheter procedures and competitive prices of replacement devices further drive the growth of this segment.
"North America to dominate the global structural heart devices market"
Significantly large disease incidence, rapid introduction of novel, breakthrough repair and replacement devices and procedures, along with favorable reimbursements to the already established procedures are the key factors driving the dominance of North America market on the global front. Additionally, this region is also characterized by domicile of the major market incumbents, therefore ensuring early introduction of novel devices in the market. Asia Pacific on the other hand, is expected to witness the fastest market growth during the forecast period. Increasing regulatory approvals, improving reimbursements, growing involvement of government funding in public healthcare are collectively driving the Asia Pacific market. Realizing such opportunities, the market players already having stronghold in developed regions are enhancing their footprints in Asia Pacific market. Distribution agreements, establishment of manufacturing facilities and research collaborations are the key strategic events observed in the region.
In addition this report provides profiles of key players operating in this market such as Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences Corporation, Medtronic PLC, LivaNova PLC, C. R. Bard, Inc., CryoLife, Inc., Integer Holdings Corporation, Comed B.V. and JenaValve Technology, Inc.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Structural Heart Devices market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Type
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Procedure
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
