Structural Heart Devices Market Scope
Market Research Future (MRFR) studied the global structural heart devices market 2021 for the review period till 2023. MRFR findings reveal that the global structural heart device market is expected to surge at 10.4% CAGR in the forecast tenure (from 2018 to 2023).
Structural Heart Devices Market Drivers and Restrains
The growing prevalence of non-coronary anomaly of heart interrupting blood supply is creating the need for structural heart devices. The rise in cases of cardiac defects inherited by birth that includes, atrial septal defect, paravalvular leak, ventricular septal defect, patent foramen oval, arterial or venous fistula, and congenital heart disease, is creating the need for advanced structural heart devices. In addition, the inclination of people towards minimally invasive techniques are also boosting sales of structural heart devices. These cause are expected to support the expansion of the structural heart devices market in the study period. The inclination toward advanced products, such as; sutureless heart valve can add to the market rise. On the contrary, expensive sutureless device can limit its the adoption, which in turn, can restrain the market upsurge in the near future.
Structural Heart Devices Market Segmentation
The segment assessment of the global structural heart devices market is based on indication, procedure, type, and end-user.
The type-based segments of the worldwide structural heart device are annuloplasty rings, heart valve devices, occluders accessories, and and delivery systems among other devices. The heart valve devices segment comprises surgical heart valves and transcatheter heart valves. The surgical heart valves segments studies mechanical heart valves and tissue heart valves. The surge in the utility of surgical heart valves can generate decent profit in the coming years.
The indication-based segments of the structural heart device market are cardiomyopathy, valvular heart disease, and congenital heart defects among others. The valvular heart disease segments studies stenosis and regurgitation. The cardiomyopathy segment is expected to rise at high CAGR in the review period.
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The procedure-based segments of the structural heart device market are repair procedures and Replacement Procedures. The Replacement Procedures segment studies SAVR procedures and TAVR procedures. The repair procedures segment study comprises annuloplasty, closure procedures, TMVR procedures, and valvuloplasty. The annuloplasty segment is expected to earn decent revenue for the market.
The end-users-based segments of the structural heart device market are ambulatory surgery centers, and hospitals among others. The ambulatory surgery centers segment of this market is expected to acquire considerable share of the global structural heart devices market.
Structural Heart Devices Market Regional Analysis
In North America, the structural heart devices market is expected to earn decent profit by 2023. The escalating number of cardiac surgeries performed in the region and surge in patients with chronic malaises, such as; high blood pressure, and diabetes among others can contribute to the rise of the regional structural heart devices market in the years to come. The growing awareness about modern healthcare solutions, advancements in technology, surge in disposable income, and medical tourism, are some other factors that can boost the rise of the regional market in the years to come.
In Europe, the structural heart devices market is likely to hold the second largest share of the worldwide market in the near future. Germany is expected to contribute largely to EU market. The availability of robust healthcare setup for convenience in structural heart devices operations can underpin expansion of the regional market in the years to come. The expansion of elderly group of people and increase in obese in the region can add to the market rise.
In Asia Pacific, the market of structural heart devices can experience spike in profit. The surge in turnover for the market can be attributed to the increase in the patient population suffering from cardiac issues, alterations in lifestyle, and an increase in elderly people.
Stringent government policies on healthcare aids and lack of affordable health insurance solutions can can hinder the structural heart device in the Middle East and Afric region.
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Structural Heart Devices Market Key Players
Edwards Lifesciences Corporation (US), Abbott (US), Medtronic plc (Ireland), Boston Scientific Corporation (US), LivaNova plc (UK), Biomerics, ST. Jude Medical, Comed BV, JenaValve Technology, Inc., Endologix Inc. (US)., CardioKinetix, Cook Group Incorporated (US), and W. L. Gore & Associates, Inc. (US) are some top-notch companies in the the global structural heart devices market.