Structural Heart Devices Market Size to Hit USD 19.8 Billion by 2030 at 10.30% CAGR – Report by Market Research Future (MRFR)

Structural Heart Devices Market Size, Growth and Share Analysis By Type (Heart Valve Devices, Annuloplasty Rings, Occluders, and Delivery Systems), Indication (Valvular Heart Disease, Cardiomyopathy), Procedure (Replacement Procedures, Repair Procedures), Competitive Market Outlook, Trends, Insights and Forecast to 2030

New York, New York, UNITED STATES

New York, USA, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Structural Heart Devices Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Structural Heart Devices Market Information by Type, Indication, Procedure, End User and Region - Forecast till 2030", the market size is expected to reach USD 19.8 billion by 2030 at CAGR of 10.30% during the forecast period 2022-2030.

Market Scope

Structural heart disease is a non-coronary malformation of the heart that does not affect the heart's blood arteries. Heart problems that are inherited from birth and can develop later in life are referred to as structural heart disorders. Structural heart abnormalities are cardiac conditions that can arise later in life and are inherited from birth. Structural heart problems include congenital heart disease, patent foramen oval, paravalvular leak, arterial/venous fistulae, atrial septal defect, and ventricular septal defect. The market for structural cardiac devices is expanding as structural heart problems are becoming more common and less invasive procedures are more in demand. Surgery is extremely expensive, though, and regulatory restrictions prevent its growth.

increasing attention on structural heart device research and development, together with a rise in older patients' demand for speedy and durable procedures, will provide profitable opportunities for structural heart device market participants. The market for structural heart devices is being propelled by factors including the rising incidence of structural heart diseases, regulatory approvals for novel and cutting-edge structural heart devices, favourable reimbursement scenarios for structural heart procedures and devices, and increased public awareness of structural heart diseases.

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Report Scope:

Report AttributeDetails
Market Size in 2030USD 19.8 Billion
Base Year2021
Forecast Period2022-2030
Historical Data2020
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Type, Indication, Procedure and End-User.
Geographies CoveredNorth America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market DriversIncrease in the prevalence of structural heart disorders
Rising demand for minimally invasive techniques

Market Competitive Outlook:

Key Players included in the structural heart devices market:

  • Medtronic plc
  • Edwards Lifesciences Corporation
  • Boston Scientific Corporation
  • Abbott
  • ST. Jude Medical
  • LivaNova plc
  • Comed BV
  • Biomerics
  • CardioKinetix
  • JenaValve Technology, Inc.
  • Endologix Inc.
  • Cook Group Incorporated
  • W. L. Gore & Associates, Inc.

Structural Heart Devices Market Dynamics

The market is probably being pushed by the increase in patients who have structural heart problems. These illnesses frequently affect infants since they are typically congenital.

People with the condition are gravitating toward such developments because tissue-enhanced aortic valves are beneficial in structural replacement and repair of the heart.

The development of technology has improved how structural cardiac devices work. The standard of living has risen, and life expectancy has increased as a result of the better therapies. Structured cardiac surgeries are preferred to more intrusive procedures like open heart surgery because they are minimally invasive.

The Numerous Foundation estimates that 1 in 100 infants have congenital cardiac abnormalities, which can range in severity from mild to severe. In the United States, structural cardiac problems afflict 60 million people, or 20 to 50 percent of the elderly, according to Micro Interventional Devices, Inc.

These numbers show how important structural cardiac diagnosis tools are, which presents an opportunity for market participants.

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However, because architecturally advanced devices are more expensive than their older versions, adoption is slow, especially in developing nations. Following a mitral valve replacement procedure, these devices might cause complications such as stroke, renal failure, and gastrointestinal problems. The high cost of contemporary structural cardiac implants and the dangers of the procedures are the main market inhibitors.

Structural heart disease (SHD), which includes structural and functional abnormalities of the cardiac chambers, proximal great arteries, and heart valves, is a broad category of percutaneous treatments for patients with both acquired heart disease and congenital heart disease (CHD).

The payment situation is probably going to improve, making TAVR (Transcatheter Aortic Valve Replacement) treatments cheaper. As the target demographic matures, the Centers for Medicare and Medicaid Services will pay for their medical expenses (CMS). It will lessen the financial burden of medical expenses, enticing more people to choose the treatment. This has a favourable effect on operations like Left Atrial Appendage Closure (LAAC), which are beneficial for lowering the risk of stroke.

To provide effective products and maintain their competitiveness, industry players are heavily investing in research and development techniques. In the years 2017–18, 2018–19, and 2017–19, respectively, several businesses including Boston Scientific Corporation, ST. JUDE MEDICAL, and Direct Flow Medical, Inc. anticipate FDA approval.

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Structural Heart Devices Market Segmentation

Type, indication, technique, and end-user are the segmentation criteria used for the market.

The market has been divided into categories based on type, including accessories, heart valve devices, occluders and delivery systems, annuloplasty rings, and other devices.

The structural heart devices market has been segmented according to indication into valvular heart disease, cardiomyopathy, congenital heart abnormalities, and others.

The market has been divided into two categories based on procedure: replacement operations and repair procedures.

The market has been divided into hospitals, ambulatory surgery centres, and other end-users based on these groups.

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Structural Heart Devices Market Regional Analysis

The market is divided into the Americas, Europe, Asia-Pacific, and the Middle East and Africa based on region.

Due to early acceptance of cutting-edge medical technologies, increased awareness, the growth of the healthcare industry, and advantageous remuneration settings for many surgical operations, North America is predicted to hold the greatest market share.

The second-largest market share is anticipated to go to the European market. The European market is growing as a result of the increasing prevalence of cardiovascular illnesses, the growing number of surgeries, and the growing desire for cutting-edge treatment methods.

The market share in the Asia-Pacific region is also anticipated to grow in the near future as a result of increased access to top-notch medical facilities, rising demand for cutting-edge technology, better adoption rates, rising disposable income, and a rise in medical tourism.

Due to its underdeveloped healthcare system, lack of technical expertise, and subpar medical facilities, the Middle East and Africa market is anticipated to hold the smallest share of the structural heart devices market.

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