Structural Heart Devices Market 2019 Global Industry Key Company

Posted by Nita on November 16th, 2019

Market Scenario

The global structural heart devices market is predicted to demonstrate 10.4% CAGR during the forecast period (2018-2023) owing to the increasing frequency of structural heart diseases, asserts Market Research Future (MRFR). Structural heart disease is referred to the cardiac defects which are generally inherited by birth and are developed later in life, due to wear and tear from infection. The common structural heart diseases include ventricular septal defect, atrial septal defect, arterial/venous fistulae, paravalvular leak, congenital heart disease, and patent foramen oval. With advancements in the medical field, the open-heart surgical procedures have replaced with minimally invasive procedures like transcatheter mitral valve repair (TMVR) and transcatheter aortic valve replacement (TAVR).

Drivers and Constraints Impacting the Market

With the increasing prevalence of structural heart diseases, development of innovative repair devices like occluders and annuloplasty rings, technological advancements, and the growing demand for minimally invasive techniques, the global structural heart devices market is considered to propel during the assessment period. The increased focus of the key players on research and development activities of structural heart devices coupled with the upsurge in demand for long-lasting and quick procedures among the geriatric population are considered to offer lucrative opportunities for the players in the global market. Moreover, regulatory approvals of advanced and new structural heart devices, rising awareness about structural heart diseases, and favorable reimbursement scenario are likely to boost the market growth in the coming years.

On the flip side, high cost associated with the surgeries coupled with strict government mandates are some of the major concerns considered to dampen the global structural heart devices market growth during the appraisal period. Advanced products like sutureless heart valve cost higher than the earlier available products. The high price of sutureless devices will further limit the adoption of the equipment, thereby impeding the market growth during the forecast period.

Global Structural Heart Devices Market: Segmental Analysis

The global structural heart devices market has been segmented on the basis of indication, type, procedure, end-user, and region.

By mode of type, the global structural heart devices market has been segmented into occluders and delivery systems, heart valve devices, accessories, annuloplasty rings, and other devices. Among these, the heart valve devices are further sub-segmented into surgical heart valves and transcatheter heart valves. The surgical heart valves are sub-segmented into mechanical heart valves and tissue heart valves. Among these, the heart valve devices segment is considered to account for the largest market share owing to the increasing number of transcatheter aortic valve replacement procedures being performed across the world, growing number of regulatory approvals for heart valve devices, and durability and efficacy of these products.

Industry Updates

December 26, 2018: Keystone Heart is enrolling patients in the U.S. for a trial of its TriGuard 3 product, hoping for FDA approval in the third quarter of 2019. The company also expects to win the CE Mark approval for the device.

Competitive Dashboard

The prominent players operating the global structural heart devices market are ST. Jude Medical, JenaValve Technology Inc., Comed BV, Boston Scientific Corporation (US), LivaNova plc (UK), Cook Group Incorporated (US), Biometrics, Edwards Lifesciences Corporation (US), Abbott (US), W. L. Gore & Associates Inc. (US), Medtronic plc (Ireland), CardioKinetix, and Endologix Inc. (US).

Global Structural Heart Devices Market: Type (Heart Valve Devices, Annuloplasty Rings, Occluders, and Delivery Systems), Indication (Valvular Heart Disease, Cardiomyopathy), Procedure (Replacement Procedures, Repair Procedures)–Global Forecast Till 2023 : https://www.marketresearchfuture.com/reports/structural-heart-devices-market-6385