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
Increase in Awareness about Structural Heart Devices and Favorable Reimbursement Policies Drive 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 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.
Structural Heart Devices Market by Product
Structural Heart Devices Market by Procedure
Structural Heart Devices Market by Indication
Structural Heart Devices Market by Region
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.
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