Global Structural Heart Devices Market: Overview
The structural heart devices market has gained weightage in the recent years due to the uncompromising rise in mitral regurgitation, aortic stenosis, and other related heart diseases. The demand has surged remarkably on the back of innovative repair gadgets such as occluders and annuloplasty rings and technologically sophisticated methods such as transcatheter mitral valve repair (TMVR) and transcatheter aortic valve replacement (TAVR). Since structural heart diseases are a non-coronary heart problem, they do not upset the blood vessels in the heart. However, they can grow lethal if not treated timely. Most structural heart diseases are congenital, but erupt later in life with the wear and tear because of infection.
Global Structural Heart Devices Market: Key Trends
Apart from the increase in the number of patients with structural heart diseases, the improved expectancy and quality of life proved true with the advancement in technology are prognosticated to spur growth in the world structural heart devices market. Today, aortic regurgitation can be easily tackled with the assurance of improved quality of life through the use of tissue valves for aortic valve replacement.
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However, stringent approval process and high cost and risk involved in the treatments that employ structural heart devices could rein in the progress of the global structural heart devices market. Nonetheless, the roaring demand for enduring and quick treatment procedures amongst the geriatric population and high focus on research and development by key players are envisaged to roll back the growth in the structural heart devices market.
Global Structural Heart Devices Market: Market Potential
Medical device incorporations such as Harpoon Medical are looking to invest in experienced professionals for a successful changeover from a clinical stage firm to a commercial company. Moreover, setting up a talented workforce will allow them to get possession of the important CE Mark approvals and outstretch their clinical programs portfolio to lucrative structural heart devices markets such as the U.S. and Europe.
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With innovations in transcatheter heart valves and extensive investments in transformational therapies and their research and development, Edwards Lifesciences will look to shore up its transcatheter aortic valve replacement (TAVR) leadership. Recalling its Lotus and next-generation Lotus Edge technologies for TAVR recently, owing to locking mechanism issues, Boston Scientific Corp is expected to suffer a setback in the global structural heart devices market.
At a year, those patients who adopted TAVR are researched to exhibit better health conditions, as per the statistics procured by an observational cohort review, with noticeable health improvements in mere 30 days. As a result, the high implementation of TAVR is predicted to lay a robust foundation for the world structural heart devices market to grow effectually during the course of the forecast period.
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Global Structural Heart Devices Market: Regional Outlook
With a horde of patients swarming cardiovascular health centers for mitral valve replacement and repair surgeries, there is a dire need created for novel technologies to treat heart defects. With approvals received for TAVR in both the U.S. and Europe, the demand in the international structural heart devices market has augmented even more.
While enhancing healthcare infrastructure and improving disposable income could have primarily pushed up the structural heart devices market in the MEA, major players are anticipated to find other doors for penetration. Of these are the rising requirement for structural heart disease treatment devices and shortfall of healthcare facilities. Developing structural heart devices markets such as Asia Pacific and LAMEA are predicted to draw attention as vendors increase focus on the development of structural heart devices. LAMEA could rake in more revenue with the soaring employment of structural heart devices and mounting prevalence of aortic stenosis.
Global Structural Heart Devices Market: Competitive Analysis
Some of the prominent names in the world structural heart devices market could consider investing more in regions such as Europe and the U.S. offering fruitful opportunities. As per a renowned medical devices organization, about a 1.75 million people suffer from aortic stenosis in Europe and 60.0 million American from structural heart defects. These figures are deemed significant to support the telling growth prospect of Europe and the U.S structural heart devices markets. Besides this, generally, it is observed that mild to severe congenital heart defects could occur one in every 100 newborns.
Amongst the illustrious companies in the business are Micro Interventional Devices, Inc., Medical Technology Est., Braile Biomedica, St. Jude Medical, Inc., and Medtronic plc.
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