The structural heart devices market has been anticipated to enjoy significant growth prospects in the upcoming years. The market growth can be attributed to the increasing incidents of minimally-invasive procedures. There has been an increased awareness among consumers related to these procedures that are likely to add to the growth prospects in the market.
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Minimally-invasive procedures have been non-surgical procedures to help in the minimal incision, lesser complications, shorter hospital stay, and quick recovery. Further, rising awareness about the benefits related to minimally-invasive surgery has boosted the adoption of these processes in cardiology. Thus, owing to these extensive applications, the structural heart devices market has been projected to experience significant growth avenues in the forthcoming years.
As per the research report by Transparency Market Research, the structural heart devices market is estimated to expand at a CAGR of 7.5% during the forecast period from 2019 to 2027.
Structural Heart Device Market Estimated to Grow With Polymer-based Cardio Vascular Replacement
The structural heart devices technology is experiencing a noticeable shift with the emergence of non-invasive procedures in order to treat mitral regurgitation and aortic stenosis. In addition to this, massive R D activities and investor excitement related to the minimally-invasive technologies for heart valves are likely to boost growth impetus in the market during the forecast period. This field provides tremendous potential and scope for interventional cardiologists and cardio-thoracic surgeons to conduct conventional open-heart surgery that has been closely linked with the severe side effects.
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Clinicians and industry leaders are analyzing this situation as an answer to the rising unmet requirement to treat patients with better prognoses and lesser hospitalization. This factor is estimated to fuel growth opportunities for innovations in the market. In addition to this, there have been various opportunities for the key market players that are putting efforts to achieve a foothold. Owing to these factors, the structural heart devices market has been expected to achieve noteworthy growth opportunities in the years to come.
Biological valves or tissue-engineered heart valves provide an advanced and novel genre of treatment for the patients that require partial or complete valve replacement. These heart valves are the new example of the live heart valve that are consists of cells and tissues of the host itself. These biologic or tissue valves held the largest share in the market in the year 2018. The wide availability and adoption of these tissue valves are likely to fuel growth impetus in the structural heart devices market.
Some of the key players operating in the structural heart devices market are Medtronic, NeovasCryoLife, Inc., Abbott Laboratories, Lifetech Scientific, Boston Scientific Corporation, Micro Interventional Devices, Inc., Edwards Lifesciences Corporation, Lepu Medical, and LivaNova plc.
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Transcatheter Aortic Valve Replacement Projected to Bring Revolution in Structural Heart Devices Market
Structural heart diseases are closely linked to the abnormalities that are related to the anatomy of the human heart. These abnormalities can lead to the serious complications, for example, heart failure and cardiac arrest. According to the conventional techniques, the only possible way for the treatment of heart disease has been through open-heart surgery.
The Food and Drug Administration has approved transcatheter aortic valve replacement as the best suitable technology for the replacement of human hearts that are encountering severe aortic stenosis. Basically, this process has been recommended for patients that are younger and can lead to more active lifestyles.
This replacement process sector is encountering noteworthy momentum and has captured around ~77% of the complete market share in 2018. The user-friendliness and popularity of this procedure have been predicted to experience innumerable growth opportunities in the structural heart devices market during the forecast period.
The global structural heart devices market is divided into:
- Global Structural Heart Devices Market, by Product Type
- Biological/ Tissue Valves
- Tramscathether Heart Valves
- Surgical heart Valves
- Mechanical Heart Valves
- Annuloplasty Rings
- Biological/ Tissue Valves
- Global Structural Heart Devices Market, by Procedure
- Replacement Procedures
- Repair Procedures
- Global Structural Heart Devices Market, by Indication
- Valve Stenosis
- Valve Regurgitation
- Congenital Heart Defects
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