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Structural Heart Devices Market

Structural Heart Devices Market

Structural Heart Devices Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

185

Base Year:

2021

Date

Jan - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1142

Segments Covered
  • By Product Heart Valve Devices, Occluders and Delivery Systems, Annuloplasty Rings, Accessories
  • By Procedure Replacement, Repair
  • By Region North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 10.25 Billion
Revenue 2028Revenue 2028: USD 22.82 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 9.8%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Structural Heart Devices Market Share

Structural Heart Devices Market: By Product, Procedure, and Region

Market Synopsis

In 2021, the global Structural Heart Devices market was USD 10.25 Billion is projected to attain a value of USD 22.82 Billion by 2028 at a CAGR of 9.8% during the forecast period, 2022–2028. Increase in prevalence of cardiovascular diseases and growing public and private investments for R&D activities are some of the factors that drive the demand for cardiac rhythm management devices such as implantable cardioverter defibrillators (ICDs), pacemakers, and ventricular assist devices. Also, large number of unmet needs such as increased incidence of coronary artery disease, heart failure & chronic kidney disease will result in high growth rates over the next five years. Moreover, technological advancements with respect to device design and procedure techniques further drives the growth rate. Devices will witness significant increase in usage across developing countries such as India, China, Brazil & Mexico owing to increasing prevalence of cardiovascular diseases. However, high cost associated with these devices may become a barrier in adoption of cardiac device technologies in some countries across the globe.

Growing Prevalence of Cardiovascular Diseases to Drive Demand for Structural Heart Devices

Structural Heart Devices Market Size, 2021 To 2028 (USD Billion)

There has been a sharp increase in the prevalence of cardiovascular diseases and metabolic disorders in developing countries, and there is considerable evidence that these changes are occurring before the onset of aging. A number of environmental factors including diet, physical activity, socioeconomic circumstances and psychosocial stress have been cited as potential contributors to the increases in prevalence. However, their relative contributions have not been established. In the last several decades, it has been shown that cardiovascular diseases and metabolic disorders can be largely attributed to insulin resistance and hyperinsulinemia, which in turn lead to increased free fatty acid flux into non-adipose tissues and elevated non-esterified fatty acids (NEFA) concentrations in plasma.

Segmentation

On the basis of product, the market is segmented into heart valve devices, occluders and delivery systems, annuloplasty rings, and accessories. Based on procedure, the market is segmented into replacement and repair.

Below tree is interactive. You can click the nodes to get more information.

Heart Valve Devices (Transcatheter Mitral Valve) Implantation to Remain the Largest Contributor to the Structural Heart Devices Market

Introduction The global structural heart repair device market is segmented into transcatheter aortic valve implantation (TAVI), transcatheter mitral valve implantation (TMVI), and coronary artery bypass grafting (CABG) devices. Of these the TAVI devices are estimated to have the largest share of the overall market. TAVI devices are a less invasive procedure that has a lower risk of mortality as compared to cardiac surgery. Moreover, TAVI is primarily recommended for high-risk patients. Hence, the market growth of these devices is dependent on the number of surgeries performed in aging population with cardiac problems.

TAVI was primarily used in the developed countries in Europe and North America when it first came into practice in 2003. The European Society of Cardiology guidelines for treatment for severe aortic stenosis released in 2012 helped increase uptake rates significantly among this patient population particularly across Germany, Italy, UK, France, Belgium, and Switzerland. Furthermore, technological advancements over the past years have aided to improve procedural outcomes which consequently led to increased adoption rates. Advancements in TAVI devices have also led to a more widespread use of this technology, which was previously used on patients with high surgical risk.

Asia Pacific Structural Heart Devices Market to Witness Fastest Growth

Asia Pacific is likely to be the fastest growing region in the global market, with a CAGR of 11.2%. Key growth drivers include consistent positive outlook for cardiovascular care in Asia Pacific, growing geriatric population base coupled with high prevalence of cardiovascular diseases in emerging economies, and strong product pipeline offering compelling value proposition. Owing to large patient pool, favorable reimbursement scenario and advanced healthcare infrastructure, North America has been one of the largest markets for Structural Heart Devices. However increased penetration of minimally invasive surgery such as transcatheter aortic valve implantation (TAVI) & mitral valve repair/replacement surgery may lower utilization rates over the forecast period.

Vendor Landscape

Some of the key players in the global Structural Heart Devices market are Medtronic plc; Braile Biomedica, St. Jude Medical, Inc., Medical Technology Est., Micro Interventional Devices, Inc., Boston Scientific Corporation; LivaNova PLC, Edwards Lifesciences Corporation, Cryolife, Inc., and JenaValve Technology, Inc.

The Structural Heart Devices is Segmented as Follows:

Parameter Details
Segments Covered
  • Product (Heart Valve Devices, Occluders and Delivery Systems, Annuloplasty Rings, Accessories)
  • Procedure (Replacement, Repair)
  • Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Medtronic plc; Braile Biomedica
  • St. Jude Medical Inc.
  • Medical Technology Est.
  • Micro Interventional Devices Inc.
  • Boston Scientific Corporation; LivaNova PLC
  • Edwards Lifesciences Corporation
  • Cryolife Inc.
  • and JenaValve Technology Inc.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Structural Heart Devices Market - Witnessing Increase in Need of Validation and Verification for Medical Devices to Boost Market to Reach over USD 22.82 Billion in 2028
Rising Adoption of Structural Heart Devices in Emerging Countries to Thrive Market! In the past few decades, the prevalence of the disease is surging at its wildest level. There is steep growth in the number of patients suffering cardiac diseases along with other diseases such as diabetes among oth...
FAQ
Frequently Asked Question
  • The global Structural Heart Devices valued at USD 10.25 Billion in 2020 and is expected to reach USD 22.82 Billion in 2028 growing at a CAGR of 9.8%.

  • The prominent players in the market are Medtronic plc; Braile Biomedica, St. Jude Medical, Inc., Medical Technology Est., Micro Interventional Devices, Inc., Boston Scientific Corporation; LivaNova PLC, Edwards Lifesciences Corporation, Cryolife, Inc., and JenaValve Technology, Inc..

  • The market is project to grow at a CAGR of 9.8% between 2021 and 2028.

  • The driving factors of the Structural Heart Devices include

    • Increase in Prevalence of Cardiovascular Diseases

  • North America was the leading regional segment of the Structural Heart Devices in 2020.