Structural Heart Devices Market is Worth to Register a Reliable CAGR of 10.4% During Forecast to 2023
February 26, 2020 by Shrikant Gadewar
Structural Heart Devices Market Size, Share, Demand Overview, Growth Values, Trends: Type (Heart Valve Devices, Annuloplasty Rings, Occluders, and Delivery Systems), Indication (Valvular Heart Disease, Cardiomyopathy), Procedure (Replacement Procedures, Repair Procedures)–Global Forecast Till 2023
Structural heart diseases are problems associated with the valves or tissues of the heart. These diseases may be congenital or might be acquired later in life. 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. The 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. A number of clinical trials and technology developments are underway, which is likely to provide the structural heart devices market opportunities for growth in the coming years.
· Boston Scientific Corporation
· Comed BV
· Edwards Lifesciences Corporation
· Cook Group Incorporated
· Medtronic plc
· W. L. Gore & Associates
· Endologix Inc
· ST. Jude Medical
· LivaNova plc
· JenaValve Technology
· The 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.
· By indication, the structural heart devices market has been segmented into valvular heart disease, cardiomyopathy, congenital heart defects, and others.
· By procedure, the structural heart devices market has been segmented into Replacement Procedures and repair procedures.
· By end-user, the structural heart devices market has been segmented into hospitals, ambulatory surgery centers, and others.
Region-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. Additionally, favorable reimbursement policies for cardiac surgeries also support the growth of the market.
Europe accounts for the second most significant share of the global structural heart devices market. The growth of the Europe market can be attributed to the high incidence rate of cardiovascular disorders in the region, which requires surgeries and advanced treatment procedures for remediation. Other driving factors include high healthcare expenditure, the prevalence of obesity and diabetes, rise in geriatric population, and the presence of robust healthcare infrastructure.
The APAC structural heart devices market is anticipated to expand at the fastest CAGR over the forecast period. Expanding base of population suffering from diabetes, obesity, and other cardiac disorders are influencing the growth of the market.
July 2019 - Abbott Laboratories, an American healthcare company, announced that its latest version of its heart device, dubbed MitraClip G4 had received FDA approval. The new heart device is equipped with advanced features that allow for customization of the mitral valve repair procedure.