February 28, 2024

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Structural Heart Devices Market will grow to USD 31.7

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Pune India, Jan. 27, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the structural heart devices market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the structural heart devices market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the indication, product type, procedure, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global structural heart devices market are Boston Scientific Corporation, Medtronic, Edwards Lifesciences Corporation, Abbott Laboratories, ST. JUDE MEDICAL, Biomerics, Comed BV, LivaNova PLC, JenaValve Technology Inc., and CardioKinetix. among others. To achieve a substantial market share in the worldwide structural heart devices market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
In structural heart disease, patients suffering from both congenital and acquired heart disease can undergo extensive percutaneous treatments. A cardiac chamber, proximal great vessels and heart valves that have structural and functional abnormalities can be seen from birth, but they may also occur later in life because of infection wear and tear. Compared to open-heart operations, structural cardiac procedures and devices are less intrusive, which makes them highly desired. To treat structural heart disorders, cardiologists routinely perform minimally invasive procedures to replace the aortic, mitral, and artificial heart valves. Devices for the heart include balloons for occlating the heart valve and annuloplasty rings for tightening the ring around the heart if it is oversized or leaky. Due to the global epidemic of cardiovascular diseases, demand for heart valve devices is on the rise, which is expected to drive market growth. In the past few decades, structural heart devices have improved their function through the advancement of technology, and improved treatments have contributed to a higher standard of living and longer life expectancy. Due to the minimally invasive nature of structural heart surgery, it is often preferred over traditional open-heart procedures. There are some factors which are hampering the growth of the market such as high costs and stringent regulatory guidelines.
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Scope of Structural Heart Devices Market Report:

Report Metric Information
Study Period 2022-2030
Base Year              2022
Forecast Period 2023-2030
Market Share Unit USD Billion
Segments Covered Indication, Product Type, Procedure, and Regions.
Regions Covered North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players Boston Scientific Corporation, Medtronic, Edwards Lifesciences Corporation, Abbott Laboratories, ST. JUDE MEDICAL, Biomerics, Comed BV, LivaNova PLC, JenaValve Technology Inc., and CardioKinetix. among others

Segmentation Analysis

Aortic valvular disease is expected to be the fastest-growing segment in 2022. 

The indication segment is divided into atrial septal defects, aortic valvular disease, pulmonary valvular disease, patent foramen ovale, ventricular septal defects, mitral valvular disease, patent ductus arteriosus, and others. The aortic valvular disease segment is expected to witness the highest growth rate during the forecast period. There is a connection between aortic valvular disease and the aorta, since the aorta carries oxygenated blood from the heart to the body, and when there is aortic valvular disease, the aorta does not fully open. In order to treat it, a structural cardiac device is implanted through minimally invasive surgical techniques. Therefore, the indication section will be dominated by aortic valvular disease.

Heart valve devices are expected to be the fastest-growing segment in 2022. 

The product type segment is divided into heart valve devices, annuloplasty rings, occluders and delivery systems, transcatheter mitral valve repair, and others. The heart valve devices segment is expected to witness the highest growth rate during the forecast period. It is a one-way valve implanted into the heart as a replacement for a heart valve that does not function properly. A mechanical heart valve, a bioprosthetic tissue valve or an engineered tissue valve are three broad categories of artificial heart valves.

Replacement is expected to be the fastest-growing segment in 2022.

The procedure segment is divided into repair and replacements. The replacement segment is expected to witness the highest growth rate during the forecast period. As a result of the development of superior, flexible, sophisticated, resilient, and highly effective structural cardiac devices, the need for replacement has increased. A successful long-term alternative to repair methods is a replacement, which increases blood flow and makes the patient live a longer life.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the structural heart devices market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

The North American region witnessed a major share. Structural heart devices have been a major success in North America due to a large pool of patients, favourable reimbursement scenarios, and advanced healthcare infrastructure. Although minimally invasive surgery such as transcatheter aortic valve implantation (TAVI) and mitral valve repair/replacement may reduce utilization rates over the forecast period, increasing penetration may result in lower utilization rates.

Country Analysis

Germany’s structural heart devices market size was valued at USD 0.92 billion in 2022 and is expected to reach USD 2.18 billion by 2030, at a CAGR of 11.4% from 2023 to 2030.
In Germany, the market is expanding due to an increase in surgeries, cardiovascular illnesses, and advanced treatment methods.

China’s structural heart devices market size was valued at USD 0.98 billion in 2022 and is expected to reach USD 2.37 billion by 2030, at a CAGR of 11.7% from 2023 to 2030.
As awareness of cardiac disease increases, neonatal screening programs improve, and access to healthcare expands in China, the market is expected to expand.

India’s structural heart devices market size was valued at USD 0.76 billion in 2022 and is expected to reach USD 1.8 billion by 2030, at a CAGR of 11.6% from 2023 to 2030.
Increasing healthcare facility demand, a favourable reimbursement environment, and an increase in structural heart disease awareness drive the market for structural heart devices in the country.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the rising demand for flavored beverages among consumers, propelling the growth of the market across the countries.

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