Structural heart disease are the abnormalities in the heart by birth or which develop later in life because of aging, infections, or injury, which leads to heart attacks and other underlying ailments. The term structural heart disease involves a range of ailments linked with congestive heart failure (CHF) and embolic stroke, together with atrial septal defect (ASD), ventricular septal defect (VSD), patent foramen ovale (PFO) and left atrial appendix (LAA).
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Increasing aging population, increasing prevalence of cardiovascular diseases, and increase in minimally invasive surgery for structural heart diseases are the factors aiding for the growth of the structural heart devices market. Increase healthcare spending, increase in the number of outpatient procedures, and market expansion opportunities in emerging nations are providing an opportunity for the market growth. However, lack of skilled healthcare professionals and stringent regulatory approval process are hampering the market growth.
Market Analysis: The “Global Structural Heart Devices Market” is estimated to witness a CAGR of 10.2% during the forecast period 2018–2024. The structural heart devices market is analyzed based on three segments – Type, End Users, and Regions.
Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). North America accounts for the largest share of the structural heart devices market, followed by Europe, Asia Pacific, and Rest of the World. More than 40% of the market is occupied by North America, with the US being the major contributor to the market growth in 2017.
Type Analysis: Based on the type, the market is segmented into structural heart repair devices and structural heart replacement devices. The major share holder of the market are structural heart replacement devices and is also the fastest growing segment in the market.
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End Users Analysis: Based on the end users, the market is segmented into hospitals, ambulatory surgical centers, and cardiac centers. The hospitals are the largest among end-users and are preferred for the treatment due to the advantages such as availability of surgery specialists, reimbursement facility, and availability of high end equipment for the surgery.
Key Players: The major players in the market are Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, Edward LifeSciences Corp., and LivaNova PLC. Lepu Medical Technology, CryoLife, Inc., JenaValve Technologies GmbH, TTK Healthcare, and Braile Biomédica, are the key other key players in the market.
Competitive Analysis: Mergers and acquisitions has been the major strategy followed by major players in the market to maintain their leadership in the market. Edwards congealed its position in the mitral valve market by buying the Harpoon Medical, the DMR-focused chordal surgical mitral valve repair startup company for ~$100M upfront. Many players in the market are flooding into the TMVR arena, the market can expect strong and innovative state-of-the-art technologies, creating intense competition in the future. A Canadian company, NeoVasc has developed a novel technology device named Tiara to replace any regurgitation of mitral valves. However, these devices have not gained approval yet and as such are lagging far behind the MitraClip. As a result, Abbott Vascular will have many years to solidify its place as the market leader in TMVR solutions.
Benefits: The report provides complete details about the usage and adoption rate of structural heart devices in various regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player’s initiatives. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.
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