November 25, 2019 by Johnson Paul
The latest market report published by Credence Research, Inc., the global market for structural heart devices was valued at US$ 7.5 billion in 2017 and is expected to reach US$ 18.9 billion by 2026, increasing to CAGR by 10.7 per cent from 2018 to 2026.
Structural heart disease is a non-coronary abnormality that includes conditions that are either congenital or due to certain abnormalities in the heart valves and vessels due to age or underlying conditions. Common conditions for the cardiac structure include paravalvular leakage, ventricular septal defect, arterial venous fistula, patent foramen oval, and so on. Significantly high prevalence of cardiovascular abnormalities. In the U.S. alone, approximately 60 million individuals with 20% of the total population have structural heart defects. This represents a significant opportunity for the use of structural cardiac devices. These conditions represent a broad category of treatment, including both repair and replacement procedures, for both acquired and congenital diseases.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/structural-heart-devices-market
Favorable reimbursements for novel minimally invasive procedures have made procedures such as TAVR very popular and affordable for patients. As the global population ages, medical expenses in a number of countries are covered by government and private insurance companies. This reduces the per capita burden on health care and therefore urges more and more patients to opt for such treatments. In addition, increasing awareness of novel procedures and increasing the availability of long-lasting implants are driving global market growth.
The major market players are also increasing their investments in research and development activities to enhance the effectiveness of these devices. It is expected that by 2020 some prominent and advanced pipeline products shall be commercialized. Boston Scientific Corporation, Abbott Laboratories, Medtronic, Edwards Lifesciences Corporation are some of the leading companies in this space.
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 be the highest during the forecast period. Similarly, the replacement procedures segment in terms of procedure types is estimated to undergo the fastest market growth. Consistent growth in geriatric population, rapid adoption of transcatheter aortic valve replacement therapies, and affordable process of replacement procedures contribute to the rapid growth of this segment. Additionally, North America and Asia Pacific markets are the most prominent regions to watch during the forecast period in terms of revenue and market growth respectively. Asia Pacific region will progress at the fastest CAGR during the forecast period. Considering the competitive landscape, the global structural heart valve devices has rapidly changing dynamics. The new market entrants with promising pipeline devices are often being acquired by incumbent players with rich financial pool. The existing players are also strengthening their geographical foothold through mergers, distribution agreements and other growth strategies.
The major players operating in this market are 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.
You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/59510
Key Market Movements:
Report Scope by Segments
By Procedure Type
By Geography Segment Type
Find more research reports on Medical Devices Industry, by Credence Research