Healthcare

Structural Heart Devices Market Value to Extend at $12,076 Million by 2022 : AMR

"Key companies are investing heavily in the structural heart devices market to treat leaky mitral heart valves, a serious condition affecting millions of people. Mitral valve repair is currently a big, large untapped need, which is yet to be catered."

Press Release

A structural heart disease is a non-coronary defect of the heart, thus not affecting the blood vessels in the heart. Most of the structural heart conditions are present since birth (congenital), but these can also be acquired later in life, owing to wear & tear from infection. Advancements in the medical field have replaced the open heart surgical procedures with minimally invasive procedures, such as transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR).

Structural Heart Devices Market Report, published by Allied Market Research, forecasts that the global market was valued at $6,006 million in 2015, and is expected to reach $12,076 million by 2022, supported by a CAGR of 10.5% during the forecast period 2016 – 2022. The structural heart repair devices segment held nearly half of the total market share in 2015, and is expected to dominate during the forecast period.

Rise in incidence of aortic stenosis, introduction of technologically advanced products (such as the Trifecta valve with Glide Technology), and increase in awareness about the benefits and availability of structural heart devices worldwide are major factors that drive the market growth. In addition, increase in number of application areas for repair and replacement devices coupled with its rise in adoption of annuloplasty rings and tissue valves is expected to further fuel this growth. However, stringent approval process and high cost of surgeries restrict the market growth.

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Tissue heart valves is expected to maintain its dominant position throughout the analysis period, due to its significant property of low requirement of anticoagulants, which reduces incidence of bleeding and thereby lowers the usage of anticoagulant by the patient.

The occluders segment accounted for two-fifths of the overall structural heart repair devices market in 2015, owing to its benefits in the treatment of congenital heart diseases and high adoption rate. In addition, annuloplasty ring is projected to register the highest CAGR of 13.3% during the forecast period.

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Key Findings of Structural Heart Devices Market:

  • Annuloplasty ring is projected to grow at the highest growth rate during the analysis period.
  • North America dominated the global structural heart devices market, accounting for one-third of the overall market in 2015, owing to the increase in prevalence of structural heart diseases.
  • Aortic valve stenosis indication occupied more than one-third of the total market in 2015.
  • Adult age group segment is expected to grow at the highest rate of 11.1%.
  • China occupied one-fifth of the total Asia-Pacific structural heart devices market in 2015.

Asia-Pacific is the fastest growing region in the structural heart devices market, and is expected to continue this trend due to increase in healthcare infrastructural development, specifically in China, India, and other developing economies, and rise in structural heart defects.

Structural heart devices are used to treat heart valves defects as well as acquired valvar abnormalities. The market for structural heart devices is growing at a rapid pace, providing an opportunity for key players to enter this market. For instance, in May 2016, Johnson & Johnson announced that will enter structural heart devices market due to the high growth potential.

The major companies profiled in the report include Medtronic plc; St. Jude Medical, Inc., Braile Biomedica; Medical Technology Est., Boston Scientific Corporation, Micro Interventional Devices, Inc., Edwards Lifesciences Corporation, LivaNova PLC, JenaValve Technology, Inc., and Cryolife, Inc.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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Allied Market Research

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain. Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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