Structural Heart Devices Market Size, Growth and Share Analysis By Type (Heart Valve Devices, Annuloplasty Rings, Occluders, and Delivery Systems), Indication (Valvular Heart Disease, Cardiomyopathy), Procedure (Replacement Procedures, Repair Procedures), Global Forecast Till 2023
Structural Heart Devices Market Overview
The global structural heart devices market size is projected to grow at a CAGR of 10.4% during the review period. The growing number of structural heart diseases is projected to drive the global structural heart devices market 2020. The increasing demand for minimally invasive procedures is likely to augment the market further. Besides, the upcoming efficient reimbursement schemes are estimated to escalate market growth. Also, the rise in the rate of non-coronary heart disorders is projected to magnify the market. Furthermore, the rise in technological development and clinical trials is estimated to create lucrative opportunities for market expansion.
Moreover, the rise in research and development is projected to escalate the market. Also, several private and public organizations are likely to assure the market growth during the assessment period. The increasing development in the healthcare facility is another pivotal factor and likely to assure market growth.
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On the contrary, the high price of advanced products such as the heart valve is estimated to hamper market growth. Besides, the implementation of strict rules and regulations by the government can obstruct the market growth during the assessment period.
Structural Heart Devices Market Segmentation
The global structural heart devices market can be segmented on the basis of indication, type, end-user, procedure, and region.
- On the basis of indication, the global structural heart devices market can be segmented into cardiomyopathy, valvular heart disease, congenital heart defects, and others
- On the basis of type, the global structural heart devices market can be segmented into accessories, occluders and delivery systems, heart valve devices, annuloplasty rings, and other devices.
- On the basis of end-user, the global structural heart devices market can be segmented into ambulatory surgery centers, hospitals, and others.
- On the basis of procedure, the global structural heart devices market can be segmented into repair procedures and replacement procedures.
- On the basis of region, the global structural heart devices market can be segmented intothe Americas, Europe, Asia-Pacific, and the Middle East and Africa.
Structural Heart Devices Market Regional Analysis
The global market is estimated to expand significantly during the review period. Geographically, the market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. As per the study, the global market is estimated to be dominated by the North American region. North America is estimated to procure the largest market share. The region is likely to expand due to the fast adoption of developed medical technology. Besides, the advancement in the healthcare sector is likely to propel the regional market.
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Additionally, increasing awareness is projected to augment the market further. The European market is estimated to acquire the second position. The regional market is likely to increase due to the rising number of surgeries, and the growing demand for developed surgeries procedure is projected to augment the market. Also, the region is experiencing a rise in the number of surgeries. The APAC region is estimated to witness growth in the forthcoming period. The region is witnessing a rise in demand for advanced methods. Also, the increased disposable income is another pivotal factor leading to market expansion. The MEA market is estimated to acquire a meager part of the market due to an underdeveloped healthcare structure.
Structural Heart Devices Market Key Players
The established players of the global market for structural heart devices are Medtronic plc (Ireland), Edwards Lifesciences Corporation (US), Abbott (US), and LivaNova plc (UK), Boston Scientific Corporation (US), ST. Jude Medical, Biomerics, JenaValve Technology, Inc., Comed BV, CardioKinetix, Cook Group Incorporated (US), W. L. Gore & Associates, Inc. (US), and Endologix Inc. (US).
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