USD 10.01 billion
Structural Heart Devices Market Size, Share, Growth Analysis, By Product(Heart Valve Devices (Transcatheter Heart Valves, Surgical Heart Valves (Tissue Heart Valves, Mechanical Heart Valves)), Occluders & Delivery Systems), By Procedure(Replacement Procedures (TAVR Procedures, Savr Procedures), Repair Procedures (Closure Procedures, Annuloplasty), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35G2184 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
34
|Figures:
74
Structural Heart Devices Market Insights
Structural Heart Devices Market size was valued at USD 11.97 Billion in 2023 and is poised to grow from USD 13.1 Billion in 2024 to USD 26.89 Billion by 2032, growing at a CAGR of 9.4% during the forecast period (2025-2032).
High prevalence of targeted diseases is the key driver of the structural heart devices market growth. About 60 million people in the U.S. have systemic flaws at their heart. This is 20-25% of the country’s adult population. This shows how great these devices are in preventing cardiac system defects. Treatment of systemic heart disease (SHD) includes a wide range of percutaneous therapies for patients with acquired heart disease and congenital heart disease (CHD) involving the heart chamber, proximal great vessels, and myocardial infarction.
Costs in the U.S. are expected to be $1.5 billion will be much better in the coming years, so procedures like TAVR (Transcatheter Aortic Valve Replacement) will become more affordable as the target population ages and pays for treatment at the Centers for Medicare and Medicaid Services (CMS). It reduces healthcare costs, thus encouraging more people to opt for these treatments. This is a positive factor for a positive effect on procedures such as left atrial appendicectomy (LAAC), which is useful for reducing the risk of stroke. Industry players invest heavily in R&D programs to come up with effective products and compete in the structural heart devices industry. For example, Medtronic, Boston Scientific, Abbott and Edwards Lifesciences represented several organizations and released updates on their heart offerings at the 34th Transcatheter Cardiac Therapy (TCT) Conference in September 2022 in Boston.
US Structural Heart Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Transcatheter Heart Valve
Fastest Growth
Transcatheter Heart Valve
Growth Rate
9.4% CAGR
Global Structural Heart Devices Market ($ Bn)
Country Share for North America Region (%)
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Structural Heart Devices Market Segmental Analysis
Global Structural Heart Devices Market is segmented by Product, Procedure, and region. Based on Product, the market is segmented into Heart Valve Devices (Transcatheter Heart Valves, Surgical Heart Valves (Tissue Heart Valves, Mechanical Heart Valves)), Occluders & Delivery Systems, Annuloplasty Rings, Accessories, and Other Devices. Based on Procedure, the market is segmented into Replacement Procedures (TAVR Procedures, Savr Procedures), Repair Procedures (Closure Procedures, Annuloplasty, Valvuloplasty, TMVR Procedures). Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Structural Heart Devices Market Analysis by Type
The SAVR segment dominated the structural heart devices market share with a 51.8% in 2022 due to its proven efficacy in treatment modalities and well-established reimbursement regulations. SAVR also teaches surgery instructions clearly, making it desirable for surgeons to refer to during surgery. The surgical aortic valve replacement (SAVR) segment plays a vital function in the structural heart devices market growth, often performing because the number one remedy option for patients with intense aortic stenosis who are eligible for open-coronary heart surgical operation. SAVR has been a protracted-mounted system, recognized for its sturdiness and effectiveness in treating structural coronary heart situations. Its dominance is supported through several factors, together with the provision of stepped forward surgical strategies, strong medical outcomes, and the high success charge of the technique.
On the other hand, the TAVR segment is expected to expand at the fastest CAGR of 10.2% during the structural heart devices market forecast, as it is a minimally invasive procedure that can be used to replace a narrow aortic valve with no need for open heart surgery. With the prevalence of aortic stenosis (AS), the demand for TAVR therapy is likely to increase. In addition, TAVR is less invasive than conventional open-heart surgery. This makes it a very attractive option for patients at high risk for complications from open heart surgery. The new TAVR devices are smaller, more flexible, and easier to implant than older devices. This has made TAVR a viable option for aggressive patients. A study published in the Journal of the American College of Cardiology in May 2023 concluded that minimally invasive TAVR techniques consistently yielded better clinical outcomes than open heart surgery over a 3-year follow-up period. A study of patients with aortic stenosis was performed to look at outcomes for those who underwent TAVR as part of the Evolut Low Risk trial.
Structural Heart Devices Market Analysis by Product
Heart valve devices is the dominant segment in the structural heart devices market analysis. Heart valve devices including transcatheter and surgical cardiovascular devices, dominate the market for structural heart devices market. They manage an increasing number of valve diseases such as aortic stenosis and mitral regurgitation, especially in the elderly population. Transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve replacement (TMVR) programs have revolutionized the treatment of patients unsuitable for traditional surgery. These devices are of great importance in terms of effectiveness in restoring valve function, reducing recovery time and improving quality of life with minimum invasive procedures. This segment continues to drive the market growth due to focused innovations for increasing device durability and patient-specific solutions.
Occluders & delivery systems are the fastest growing in the market. Occluders & delivery systems are needed to treat structural heart defects, especially congenital cases such as atrial septal defect (ASD) and patent foramen ovale (PFO). These devices are classified as abnormal openings in the heart, preventing bleeding, effectively limiting penetration issues and reducing the risk of strokes and other complications required for accurate installation. The supply chain has improved dramatically, resulting in safer and more accurate products. Demand for solutions of less complexity has led to an increase in occluder adoption, with innovations in delivery system technology improving scheduling accuracy and reducing system risks. This segment also sees growth intensity, resulting from an increased focus on improving patient outcomes through minimally invasive approaches.
Global Structural Heart Devices Market By Type
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Structural Heart Devices Market Regional Insights
North America dominated the structural heart devices industry and held the largest revenue share of 40.8% in 2022, due to rising healthcare expenditures, increasing R&D activities, and increasing incidence of heart disease due to growth so in geriatrics. The demand for minimally invasive procedures is also a major reason the region dominates. According to data released by Cedars-Sinai in January 2022, the most common heart surgery is coronary artery bypass graft surgery (CABG)/coronary artery bypass surgery Each year, more than 300,000 patients in the United States undergo surgery prominent. This explains the increasing prevalence of heart disease in the country.
On the other hand, Asia Pacific is expected to grow at the fastest CAGR of 10.0% during the forecast period. This can be attributed to higher healthcare expenditure, increased awareness of cardiology, better newborn screening programs and improved healthcare infrastructure in the region which affects the increased life expectancy and price of these products Manufacturers of these devices see untapped growth in this region. For example, in December 2022, Abbott announced the launch of Navitar in India. This is a less invasive transcatheter aortic valve implantation (TAVI) procedure indicated for people with severe aortic stenosis who are at high or moderate surgical risk. The new device prevents clotting around the valve Transcatheter aortic is being developed development of valve replacement therapies.
Global Structural Heart Devices Market By Geography
- Largest
- Fastest
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Structural Heart Devices Market Dynamics
Structural Heart Devices Market Drivers
Increasing Incidence of Cardiovascular Diseases
- The incidence of heart failure is increasing worldwide due to factors such as aging population, sedentary lifestyle, and poor diet, leading to an increasing demand for cardiac devices, with frequent diagnosis of organized heart failure, such as aortic stenosis, mitral regurgitation, and congenital heart defects in older adults. Advanced cardiac mechanical engineering requirements are likely to perpetuate, with transcatheter intracardiac including veins and occluders.
Technological Advances in Minimally Invasive Procedures
- Minimally invasive cardiac surgery has gained traction as it reduces recovery time, reduces the risk of complications, and improves patient outcomes. Recent innovations in catheter-based technologies have enabled the development of new devices such as transcatheter aortic valve replacement (TAVR) systems, which are changing the way in vivo heart failure is managed. These advances are driving the adoption of devices cardiac arrest when health care providers aim to provide safe and effective treatment.
Structural Heart Devices Market Restraints
High Cost of Cardiac Device Design and Procedures
- Structural heart devices are often high priced, and the related minimally invasive strategies may be expensive, especially in areas wherein healthcare isn't always widely backed. The excessive fee of those devices and procedures limits accessibility for patients, especially in low-to middle-earnings areas, slowing market growth. Additionally, reimbursement problems in some areas in addition avert adoption quotes as sufferers can also warfare to have the funds for remedy.
Stringent Legal Requirements
- The structural heart devices market faces complex and stringent regulations in various geographies, especially in markets such as North America and Europe. These stringent regulations require extensive clinical and compliance studies, which can delay product approvals and prevent new devices from gaining market approval longer approval times can lead to new product development have slowed and increased costs for producers, affecting overall market growth.
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Structural Heart Devices Market Competitive Landscape
The competitive environment in the market is characterized by leading medical device manufacturers and new start-up companies specializing in advanced, simple solutions for cardiac surgery. Technological advances, increasing clinical research, and strategic partnerships focused on improving patient outcomes drive the growth of this market. Companies are actively pursuing FDA approvals and expanding their services to remain competitive. Key players are investing heavily in research and development, with a strong focus on expanding product offerings and gaining first-hand advantages in new cardiac device technologies.
Structural Heart Devices Market Top Player’s Company Profiles
- Boston Scientific Corporation
- Medtronic
- Edwards Lifesciences Corporation
- Abbott Laboratories
- St. Jude Medical
- Biomerics
- Comed BV
- LivaNova PLC
- JenaValve Technology, Inc.
- CardioKinetix
- Lepu Medical Technology
- CryoLife
- Micro Interventional Devices
- Braile Biomédica
- TTK Healthcare (A TTK Group Company)
Structural Heart Devices Market Recent Developments
- In May 2022, Philips announced the release of EchoNavigator 4.0, its newest image-guided therapy solution for in vivo cardiomyopathy. EchoNavigator 4.0 lets users of Philips’ EPIQ CVXi interventional cardiology ultrasound system manage live fusion imaging on an image guided therapy system called the company’s ‘Azurion - platform’.
- In January 2022, Genesis Medtech Group (Genesis or Group) completed JC Medical (JCM), a cardiac engineering company specializing in transcatheter valve replacement products for the treatment of low-complexity heart failure. A minimally invasive TAVR device approved for patients with regression stenosis was developed and successfully presented.
- In September 2022, Edwards Lifesciences announced FDA approval for its advanced SAPIEN 3 Ultra RESILIA TAVR valve. The device combines the company’s RESILIA tissue technology with the SAPIEN 3 Ultra TAVR device. This improved stent is designed to reduce the risk of re-intervention in TAVR patients and is expected to be a key feature of the next generation of Edwards valves.
Structural Heart Devices Key Market Trends
- Increasing Adoption of Transcatheter Aortic Valve Replacement (TAVR) Systems: Transcatheter aortic valve replacement (TAVR) has become popular as the treatment of choice for patients with severe aortic stenosis, especially those unsuitable for open heart surgery. In clinical trials and ongoing safety studies with the advantages of TAVR, this less penetrating approach continues to increase the demand for structural heart devices will be expected as manufacturers are investing aggressively in next-generation TAVR systems, to expand patients to increase structural heart devices market outlook.
- Expanding 3D Imaging and Artificial Intelligence in Device Manufacturing: The adoption of advanced 3D imaging and synthetic intelligence (AI) is revolutionizing the improvement of structural heart devices. These technologies beautify precision in device placement, optimize patient-precise device selection, and reduce dangers associated with structural coronary heart interventions. The integration of AI and 3D imaging into tool design and system planning is anticipated to growth remedy efficacy, contributing to the long-term increase of the market.
Structural Heart Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the structural heart devices market trend is set to grow owing to an increase in incidence of cardiac arrest and demand for less invasive surgical treatments. Technological advancements, especially in TAVR and imaging technologies, continue to push the market forward, despite challenges such as high cost, regulatory hurdles, etc. North America leads in terms of innovation and in acceptance, while Asia Pacific due to consolidation of healthcare and increasing demand for cardiology. Significant advances offering while innovating in less complex processes and capabilities examine disease, the market is poised to offer advanced life-saving solutions for intrinsic heart disease across the globe.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 10.97 billion |
| Market size value in 2031 | USD 24.58 billion |
| Growth Rate | 9.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Structural Heart Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Structural Heart Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Structural Heart Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Structural Heart Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Structural Heart Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Structural Heart Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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