- Rise in the cases of heart-related diseases globally is boosting the growth opportunities in the market
- Increase in the adoption of technologically advanced procedures in North America fuels the growth in the regional market
WILMINGTON, Del., Aug. 9, 2022 /PRNewswire/ -- According to a research report by Transparency Market Research (TMR), the global structural heart devices market is estimated to develop at a CAGR of 7.5% during the forecast period 2019 to 2027.
The TMR study sheds light on all key aspects influencing the growth trajectory of the structural heart devices market. Hence, readers gain access to many important factors such as the expansion opportunities, growth drivers, growth restraints, opportunities for future market demand for structural heart devices, and recent developments in the structural heart devices market.
Leading players in the structural heart devices market are increasing investments in R&Ds in order to develop technologically advanced products. Moreover, companies are using strategies such as new product launches and acquisitions in order to maintain their leading positions in the global structural heart devices market. These factors, in turn, are expected to help in the overall market growth in the forthcoming years.
The structural heart devices market in North America is projected to gain sizable avenues for growth during the forecast period owing to many factors including rise in R&Ds, new product launches, and the adoption of next-gen procedures in the regional healthcare sector.
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Structural Heart Devices Market: Key Findings
- The popularity of structural heart devices technology is being increasing from the recent years with rise in the adoption of different non-invasive procedures for the treatment of mitral regurgitation and aortic stenosis. Moreover, there has been a surge in the R&D activities related to minimally-invasive heart valve technologies. Such advancements are allowing interventional cardiologists and cardio-thoracic surgeons to avoid critical side-effects associated with the traditional open heart surgeries, notes a TMR study on the global structural heart devices market.
- Healthcare professionals are focusing on the adoption of technological advancements that can help in fulfilling the current unmet requirements of patients together with offering better prognosis and need for lesser times at hospitals. These factors are expected to drive the growth opportunities in structural heart devices market. Hence, the global market is estimated to be valued at US$ 8 Bn by the end of 2027.
- Biological valves, or tissue engineered heart valves (TEHV), are gaining impetus in the healthcare industry in the recent years as they provide a latest and next-gen methodology of treatment for patients with the requirement of partial or complete valve replacement, states a TMR report on the structural heart devices market. Over the period of past few years, the adoption of transcatheter tissue valves is being increasing globally. This factor is prognosticated to create notable growth prospects for structural heart devices market during the forecast period.
- The adoption of innovative technologies such as interventional catheter technologies is being rising in the recent years. This factor is propelling the global structural heart devices market. Moreover, the market is being driven by various factors including the healthcare reforms, collaborations amongst interventionists, cardiologists, & surgeons, and rise in the adoption of hybrid procedures in the healthcare industry.
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Structural Heart Devices Market: Growth Boosters
- Surge in the prevalence of cardiac arrest, stroke, and heart failure across the globe is creating sizable sales prospects in the structural heart devices market
- Growing inclination among people toward the adoption of minimally invasive procedures is leading to revenue-generation opportunities in the market
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Structural Heart Devices Market: Key Players
Some of the key players profiled in the report are:
- Abbott Laboratories
- Edwards Lifesciences Corporation
- Boston Scientific Corporation
- Lepu Medical
- LivaNova plc
- Lifetech Scientific
- Micro Interventional Devices, Inc.
- NeovasCryoLife, Inc.
Structural Heart Devices Market Segmentation
- Biological/Tissue Valves
- Transcatheter Heart Valves
- Surgical Heart Valves
- Mechanical Heart Valves
- Annuloplasty Rings
- Replacement Procedures
- Repair Procedures
- Valve Stenosis
- Valve Regurgitation
- Congenital Heart Defects
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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SOURCE Transparency Market Research