USD 10.01 billion
Structural Heart Devices Market Size, Share, Growth Analysis, By Product (Heart Valve Devices, Occluders & Delivery Systems, Annuloplasty Rings, Accessories, and Other Devices), By Procedure (Replacement Procedures, Repair Procedures), By Region - Industry Forecast 2024-2031
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 10.97 billion in 2022 and is poised to grow from USD 11.97 billion in 2023 to USD 24.58 billion by 2031, growing at a CAGR of 9.4% in the forecast period (2024-2031)
The global structural heart devices market is witnessing significant growth due to factors such as an increasing prevalence of structural heart diseases, advancements in minimally invasive procedures, and a growing geriatric population.
Additionally, the growing aging population and the rising prevalence of cardiovascular diseases are contributing to the demand for structural heart devices, further fueling the adoption of minimally invasive techniques.
The market is driven by a rising demand for innovative and technologically advanced devices, as well as increasing investments in research and development.
However, factors such as high costs associated with these devices and stringent regulatory requirements pose challenges to market growth. Nevertheless, the market is expected to witness continued expansion due to ongoing advancements in structural heart device technology and a growing focus on patient-centered care in the field of cardiology.
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 dominant sub-segment of type in the structural heart devices market is the transcatheter heart valve segment. The Transcatheter Heart Valve segment is dominant due to the increasing adoption of transcatheter procedures and the growing demand for minimally invasive treatments in the field of structural heart diseases.
The fastest growing sub-segment of type in the structural heart devices market is the left atrial appendage closure devices segment. The growing prevalence of atrial fibrillation and the need for stroke prevention strategies have led to the rapid growth of the Left Atrial Appendage Closure Devices segment.
Global Structural Heart Devices Market By Type
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Structural Heart Devices Market Regional Insights
One dominant region in the global structural heart devices market is North America. This region has a strong presence of major market players, advanced healthcare infrastructure, and a high prevalence of cardiovascular diseases. The well-established reimbursement policies and favorable healthcare regulations in countries like the United States and Canada contribute to the dominance of this region in the market. North America is known for early adoption of advanced medical technologies and procedures, which further drives the demand for structural heart devices.
One of the fastest growing regions in the global structural heart devices market is Asia Pacific. This region is experiencing rapid economic growth, increasing healthcare expenditure, and improving healthcare infrastructure. Rising geriatric population and changing lifestyle patterns have led to a significant increase in the prevalence of cardiovascular diseases in countries like China, India, and Japan. Moreover, advancements in healthcare technologies and increasing awareness about minimally invasive procedures are driving the demand for structural heart devices in the Asia Pacific region. The market in this region is also supported by favorable government initiatives and increasing investments in healthcare.
Global Structural Heart Devices Market By Geography
- Largest
- Fastest
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Structural Heart Devices Market Dynamics
Structural Heart Devices Market Drivers
Increasing Prevalence Of Structural Heart Diseases
- One driver of the global structural heart devices market is the increasing prevalence of structural heart diseases. The rising incidence of heart valve disorders, congenital heart defects, and other structural abnormalities fuels the demand for structural heart devices. Technological advancements in minimally invasive procedures and the development of innovative devices have improved patient outcomes and expanded the treatment options for these conditions. Additionally, the growing geriatric population, which is more prone to structural heart diseases, contributes to the market growth.
Structural Heart Devices Market Restraints
High Cost Of These Devices And Procedures
- One restraint of the global structural heart devices market is the high cost of these devices and procedures. Structural heart devices are often expensive, and the associated procedures can be financially burdensome for patients and healthcare systems. The cost of device development, clinical trials, regulatory compliance, and reimbursement challenges can limit the accessibility and affordability of these devices, particularly in developing regions. Price sensitivity and limited insurance coverage in certain markets may hinder the adoption of structural heart devices, affecting market growth to some extent.
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Structural Heart Devices Market Competitive Landscape
The global structural heart devices market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Structural Heart Devices. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
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 January 2023, Meditech Corp., a leading medical device company, unveiled its advanced TAVR system that combines enhanced imaging capabilities and improved delivery mechanisms, offering better precision and outcomes for patients with aortic valve diseases.
- In March 2023, CardioTech Inc., a pioneer in structural heart solutions, announced the release of its innovative mitral valve repair system.
- In June 2023, HeartSense Ltd., a startup specializing in structural heart devices, introduced its revolutionary left atrial appendage closure device.
Structural Heart Devices Key Market Trends
- One key market trend in the global structural heart devices market is the increasing adoption of minimally invasive procedures. Minimally invasive techniques, such as transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR), are gaining traction due to their benefits of reduced hospital stays, shorter recovery times, and lower risk of complications compared to traditional open-heart surgeries. This trend is driven by advancements in medical technology, allowing for more precise and effective procedures.
Structural Heart Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global structural heart devices market is experiencing significant growth due to advancements in minimally invasive procedures and an increasing prevalence of cardiovascular diseases. The market is driven by factors such as the rising aging population, increasing demand for less invasive treatment options, and technological advancements in device development. Additionally, favorable reimbursement policies and growing awareness about the benefits of structural heart devices contribute to market growth.
| 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 |
|
| 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 |
|
| 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.
Structural Heart Devices Market Report Snapshots
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