The market for structural heart devices is expected to grow at a CAGR of around 10.2% from 2020 to 2027 and expected to reach the market value of around US$19.4 Bn by 2027.

Structural Heart Devices consist of various therapeutic interventional devices that are used to efficiently and economically close an abnormal communication between the heart chambers as well as used to reconstruct or replace a diseased or degenerated heart valve through the adoption of a multidisciplinary remedial approach. These are used in structural heart diseases which are also termed as a non-coronary anomaly of the heart. Structural heart diseases refer to cardiac defects which are inherited by birth and can be developed later in life.

Market Dynamics

The rising prevalence of structural heart diseases and regulatory approvals of new and advanced structural heart devices are supporting market growth. The favorable reimbursement scenario and rising awareness of structural heart diseases are supporting market growth. The product approvals for Medtronic, Edwards Life sciences Corporation, Abbott laboratories, Livanova, and micro interventional devices are further bolstering the market value. Furthermore, percutaneous interventions, approval of TAVR for extended indications, the emergence of tissue-engineered heart valves in emerging countries is projected to create potential opportunities over the forecast period from 2020 to 2027.

On the other hand, low affordability and inaccessibility of cardiac surgeries in developing countries are anticipated to hinder the growth to an extent over the forecast period from 2020 to 2027.

Segment Instance

North America accounted for the maximum revenue share in the global market

In 2019, North America is leading the structural heart devices market with maximum revenue share, and the region is also projected to maintain its dominance throughout the forecast timeframe from 2020 to 2027. The presence of skilled professionals and well-established healthcare infrastructure is supporting regional market growth. The increasing number of people with chronic heart diseases is a major region including the US and Canada is supporting the regional market value. The presence of major players in the region is further bolstering the regional market value. The major players are involved in research and development activities in order to provide more advanced solutions in the healthcare sector for effective patient treatment.

Asia Pacific is projected to experience fastest growth in near future

Asia Pacific is anticipated to experience the fastest growth throughout the forecast timeframe from 2020 to 2027. The developing economies including China and India are supporting the regional market growth. The increasing number of patients with structural heart diseases along with the escalating geriatric population, increasing demand for better healthcare facilities, increasing penetration of reimbursement schemes is further bolstering the regional market value.

Key Market Players

The players profiled in the report include Abbott (US), Boston Scientific Corporation (US), Braile Biomédica (Brazil), CryoLife, Inc. (US), Edwards Lifesciences Corporation (US), Lepu Medical Technology (Beijing) Co., Ltd. (China), LivaNova PLC (UK), Medtronic plc (Ireland), Micro Interventional Devices, Inc. (US), TTK Healthcare Limited (India), and others. The major market players were involved in mergers and acquisitions, partnerships & collaborations, and new source development for the expansion of market share.

Target Market Audience:

Hospitals

Healthcare Corporations

Cardiac Surgery Centers

Structural Heart Device Distributors

Medical Service Providers

Structural Heart Devices Manufacturers

Structural Heart Surgeons

Market Segmentation

Market By Product

Heart Valve Devices

• Surgical Heart Valves
• Transcatheter Heart Valves

Occluders and Delivery Systems

Annuloplasty Rings

Other Devices

Accessories

Market By Procedure

Replacement Procedures

• TAVR Procedures
• SAVR Procedures

Repair Procedures

• Closure Procedures
• Annuloplasty
• Valvuloplasty
• TMVR Procedures
  
  

Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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