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 2024-2031

Report ID: SQMIG35G2184 | Region: Global | Published Date: October, 2024
Pages: 157 | Tables: 34 | Figures: 74

Structural Heart Devices Market News

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 Market Report Snapshots

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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 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. '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)'

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.

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.

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.

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