Global Structural Heart Devices Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis and Forecast 2020 to 2027

The global structural heart devices market size is estimated to reach US$ 13 billion by 2027, growing at a CAGR of 7.6% from 2020 to 2027.

The report provides projections in terms of both, value (US$ Mn) and volume (million units) for statistical evaluation of the structural heart devices market. Objective insights of the structural heart devices market provided herein will equip stakeholders in making impactful business decisions. So much so, the analysis provided is deemed to be game-changing for competitive dynamics in the structural heart devices market.

The report studies the past and current growth trends to provide reliable insights for the structural heart devices market for the 2019-2026 forecast period. Market indices including demand drivers, restraints, threats, and opportunities have been studied at length for their impact on the structural heart devices market for the forecast period. Analysis of SWOTs of the entire structural heart devices market over the forecast period is a highlight of this report.

The report on the structural heart devices market is prepared using industry-centric tools and proven research methodologies. Porter’s Five Forces analysis and SWOT analysis are some tools employed in an attempt to gather information on industry strongholds as well as areas for scope of improvement.

Apart from this, the competitive analysis of players in the structural heart devices market is a key feature of this report. This entails insights into mergers, acquisitions, partnerships, R&D, and technological innovations of key players to accelerate growth in the structural heart devices landscape.

A Key Driver

• Minimally-invasive procedures are non-surgical procedures that enable minimal incision, shorter hospital stay, lesser complications, and faster recovery.
• There has been an increase in the use of structural heart devices that can be implanted through a minimally-invasive approach. Transcatheter aortic valve replacement (TAVR) is a procedure that allows insertion of heart valves without the need of an open heart surgery.
• According to the National Institute for Cardiovascular Outcomes Research (NICOR) U.K. TAVI and Adult Cardiac Surgery databases, 13,295 TAVR procedures were performed in the U.K. from 2007 to 2016.
• Hence, increase in the awareness about the advantages of minimally-invasive surgery has led to a surge in the adoption of these procedures in cardiology.

Increase in Awareness about Structural Heart Devices and Favorable Reimbursement Policies Drive Market

• The global structural heart devices market is expanding at a rapid pace, owing to a surge in the awareness about structural heart diseases and favorable reimbursement policies for structural heart devices and procedures.
• Awareness about structural heart diseases is increasing among the general population. A number of public and privately-held organizations are conducting awareness programs highlighting the risk factors, symptoms, diagnosis, and treatment options for valvular heart disease and other heart defects. These awareness programs are likely to contribute to the growth of the global structural heart devices market.
• In 2017, Alliance for Aging Research (a non-profit organization) conducted the National Heart Valve Disease Awareness Day program. The primary objective of the program was to ensure that more people are aware about the risks and symptoms of heart valve diseases.
• The European Heart Valve Disease Awareness Day program was conducted in September 2018 to improve the diagnosis, treatment, and management of heart valve disease in Europe.
• Favorable reimbursement policies is another major factor anticipated to boost the growth of the global structural heart devices market during the forecast period. In March 2018, Abbott Laboratories announced that MitraClip was granted national reimbursement in Japan, which enables greater access for patients to this life-altering therapy.
• However, stringent government approval processes and the high cost of minimally-invasive procedures are anticipated to hamper the growth of the global structural heart devices market.

Rising Heart Failure Cases to Drive New Opportunities for Growth and Innovation

The structural heart device is widely used in various cardiac procedures for acquired diseases as well as congenital diseases. These include septal defects, valvular diseases, venous obstructions, arterial diseases, and issues like atrial appendage. Among these, rising heart failure cases promise the largest application in the structural heart devices market. According to Center for Disease Control and Prevention, there are over 5.7 million cases of heart failure in the United States. Additionally, these amounts to 1 in 10 death cases are attributed to heart failures. CDC estimates that each year, the disease costs over $30 billion to United States government each year. Moreover, current patients with heart failure possibilities will likely face fatal consequences without the heart replacement surgeries within a 5 year period. This fatal nature, and importance of structural heart devices in treating the fatal disease is likely to create new opportunities for players in the market.

Hybrid Procedures Remain Most Promising to Drive Growth

Surgical and interventional procedures are likely to remain major applications in the structural heart devices market. Moreover, the evolution of hybrid procedures promises a robust application in the area. These include modern equipment, ventilation, and facilitation of both the procedures are important factors for end-consumers. Their cost-effective application, high imaging systematic application, and ventilation procedures will drive growth. The advancements in Computed Tomography or CT scans are also expected to create new opportunities for growth in the structural heart devices market. These are likely important for growth of catheter technologies.

Key Segments

• In terms of procedure, the global structural heart devices market has been categorized into biological/tissue valves, mechanical heart valves, annuloplasty rings, occluders, and accessories. The biological/tissue valves segment has been bifurcated into transcatheter heart valves and surgical heart valves.
• The biological/tissue valves segment accounted for a leading share of the global structural heart devices market in 2018. The segment is likely to dominate the global market during the forecast period.
• Based on procedure, the global structural heart devices market has been segregated into replacement procedures and repair procedures. The replacement procedures segment is projected to account for a significant share of the global market during the forecast period.
• In terms of indication, the global structural heart devices market has been classified into valve stenosis, valve regurgitation, cardiomyopathy, congenital heart defects, and others. In terms of market share, the valve stenosis segment is expected to dominate the global structural heart devices market during the forecast period.
• The market size and forecast for each of these segments has been provided from 2017 to 2027. The CAGRs of respective segments are also provided for the forecast period from 2019 to 2027, considering 2018 as the base year.

Competitive Landscape

• Prominent players in the global structural heart devices market have been profiled based on attributes, such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies.
• The global structural heart devices market is consolidated, with the top three players accounting for ~80% share in 2018.
• New product development for unmet needs such as mitral valve repair and replacement is a key strategy adopted by key players to be competitive in the global structural heart devices market. These players are also adopting inorganic growth strategies by acquiring small-scale manufacturers to expand market reach. These players strive to provide access to technologically-advanced devices for the treatment of structural heart diseases.

Key Players

Key players operating in the global structural heart devices market are Medtronic, Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences Corporation, LivaNova plc, Lepu Medical, Micro Interventional Devices, Inc., Lifetech Scientific, Neovas, and CryoLife, Inc.

New product developments and launches is the major focus of prominent players operating in the global structural heart devices market. Strategic acquisitions and collaborations is another strategy adopted by these players to be competitive and gain market share. Key players strive to provide access to technologically-advanced devices for the treatment of structural heart diseases.

Segmentation

Structural Heart Devices Market by Product

• Biological/Tissue Valves
  • Transcatheter Heart Valves
  • Surgical Heart Valves
• Mechanical Heart Valves
• Annuloplasty Rings
• Occluders
• Accessories

Structural Heart Devices Market by Procedure

• Replacement Procedures
• Repair Procedures

Structural Heart Devices Market by Indication

• Valve Stenosis
• Valve Regurgitation
• Cardio Myopathy
• Congenital Heart Defects
• Others

Structural Heart Devices Market by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • France
  • U.K.
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa
• South America
  • Brazil
  • Rest of South America

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.

Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.