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.
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Players in this market compete to deliver superior and advanced technologies for heart valve repair and replacement. In 2017, the structural heart devices market was dominated by a few large players, namely, Edwards Lifesciences Corporation (US), Medtronic plc (Ireland), Abbott (US), Boston Scientific Corporation (US), and LivaNova plc (UK).
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. For instance, in December 2017, the company acquired Harpoon Medical Inc. (US). 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. This acquisition was valued at USD 100 million.
Medtronic held the second position in the structural heart devices market in 2017. The company offers a comprehensive range of transcatheter and surgical heart valve products through its Coronary & Structural Heart division. The key percutaneous surgical products offered by the company include the third generation CoreValve Evolut PRO system and tissue & mechanical heart valves. To maintain its leading position in the market and increase its customer base, the company focuses on product launches & approvals, partnerships, and expansions. For instance, in 2016, the company partnered with the World Stroke Organization (WSO, Switzerland). Under this partnership, the two organizations will work together to educate, raise awareness, and support the effective management of patients who suffer from strokes.
Some of the other players operating in this market are CryoLife, Inc. (US), Micro Interventional Devices, Inc. (US), Braile Biomédica (Brazil), Lepu Medical Technology (Beijing) Co., Ltd. (China), and TTK Healthcare Limited (India).
Product launches & approvals; acquisitions; expansions; and partnerships & agreements were the key strategies adopted by key players between 2015 and 2018. Some of the key players that adopted these strategies are Edwards Lifesciences (US), Medtronic (Ireland), Boston Scientific (US), Abbott (US), LivaNova (UK), Micro Interventional Devices (US), Braile Biomédica (Brazil), and CryoLife (US).
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Geographically, North America is expected to account for the largest share of the structural heart devices market in 2018, followed by Europe. The large share of North America in the global market is attributed to factors such as the rising prevalence of structural heart diseases, favourable reimbursement scenario for structural heart procedures and devices, technological advancements, and development of innovative devices.
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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%.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=161123753Growth 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, favorable reimbursement scenario for structural heart procedures & devices, and increasing awareness about structural heart diseases.North America to dominate the structural heart market in 2018North America is expected to account for the largest share of the structural heart devices market in 2018, followed by Europe.
The large share of North America in the global market is attributed to factors such as the rising prevalence of structural heart diseases, favorable reimbursement scenario for structural heart procedures and devices, technological advancements, and development of innovative devices.By procedure, the replacement procedures segment is expected to command the largest share of the structural heart market in 2018On the basis of procedure, the market has been broadly segmented into replacement procedures and repair procedures.
The replacement procedures segment is further segmented into TAVR (transcatheter aortic valve replacement) procedures and SAVR (surgical aortic valve replacement) procedures, while the repair procedures segment is subdivided into closure procedures, annuloplasty, valvuloplasty, and TMVR procedures.
The replacement procedures segment is expected to account for the largest share of the structural heart devices market in 2018.
This can be attributed to the long-term durability of these procedures and the widespread preference for transcatheter replacement.Get 10% FREE Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=161123753The heart valve devices segment is expected to account for the largest share of the structural heart market, by product, in 2018On the basis of products, the structural heart devices market is segmented into heart valve devices, occluders and delivery systems, annuloplasty rings, other devices, and accessories.
The heart valve devices segment is further subdivided into transcatheter heart valves and surgical heart valves.
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.
