Market Overview:

According to a new report by IMIR Market Research on Global Structural Heart Devices Market valued at approximately USD 6.9 Billion in 2023. Over the course of the forecast period (2024–2031), the market is expected to develop at a compound annual growth rate (CAGR) of 9.3%, reaching a value of USD 13.64 Billion by 2031.

The primary factor driving the market is the increased prevalence of the target disorders. The number of Americans with structural cardiac abnormalities is close to 60 million. This represents 20–25% of the adult population in the nation. This demonstrates the enormous potential of these devices to treat structural cardiac abnormalities. Treatment for patients with congenital heart disease (CHD) and acquired heart disease (AHD) that address anatomical and functional anomalies of the heart valves, proximal great arteries, and cardiac chambers is referred to as structural heart disease (SHD).

The increase in the proportion of patients with structural heart problems is probably going to drive the market. These illnesses commonly affect infants since they are typically congenital. People with these conditions are turning to tissue-enhanced aortic valves because they are beneficial in the structural replacement & repair of the heart. The advancement of technology has improved how well structural cardiac devices work. People now live longer and enjoy higher standards of living because to the advancements in medical care. Open heart operations and other traditional invasive treatments are rarely chosen in favor of minimally invasive structural heart surgeries.

An infant in every 100 is estimated by the Children's HeartLink organization to have a congenital heart disease, which can range in severity from mild to severe. The most prevalent valve condition in the United States, according to Cleveland Clinic, is mitral valve regurgitation. These data show how important structural cardiac detection devices are, which opens up a lot of business prospects for industry participants.

However, due to cutting-edge structural heart devices are more expensive than their classic counterparts, their acceptance has been slow, especially in developing nations. These devices can lead to complications such as stroke, renal failure, & gastrointestinal problems. These difficulties typically arise after a mitral valve replacement procedure. The primary barriers to the market are the high expense of contemporary structural cardiac implants and the hazards connected with these procedures.

The COVID-19 epidemic affected healthcare systems worldwide and interfered with regular care in many medical facilities. This raised the hazards that vulnerable people with cardiovascular conditions had to deal with greatly. On the other side, the need for different cardiovascular devices, especially structural cardiac devices, grew during the pandemic due to the elevated risk of infection among cardiovascular patients.

Market Dynamics:

Market Drivers-

Aging Population and Increasing Prevalence of Cardiovascular Diseases

• The globe's elderly population & growing prevalence of coronary artery disease (CVDs) are driving the structural heart devices market. Age-related cardiovascular disorders include coronary artery disease, atrial fibrillation, & valvular heart disease are more common as the population ages. In order to cure arrhythmias, fix structural abnormalities, or replace damaged heart valves, these problems frequently call for surgery or minimally invasive procedures. For patients who are too risky or ineligible for open heart surgery, structural cardiac devices that include transcatheter heart valves, atrial septal defect (ASD) occluders, & left atrial appendage (LAA) closure devices provide less invasive alternatives. A wider spectrum of patients with complicated anatomies or comorbidities can now be treated with structural cardiac treatments thanks to developments in procedural techniques and medical technologies.

Technological Advancements and Minimally Invasive Approaches

• An increase in awareness toward less invasive cardiac operations and continuing technological advancements are driving the market for structural heart devices. Patients getting minimally invasive therapies benefit from these technologies in terms of safety, effectiveness, and procedural outcomes. The management of valvular heart disease has been completely transformed by transcatheter heart valve methods, including transcatheter aortic valve replacement (TAVR) as well as transcatheter mitral valve repair (TMVR), which allow for valve replacement or repair through percutaneous methods without the need for open-heart surgery. Analogously, devices designed to close anatomical abnormalities like ASDs & patent foramen ovale (PFOs) have advanced in sophistication, enabling minimally invasive procedures for accurate positioning and secure closure of heart defects. As doctors get better at performing less invasive structural heart surgeries as well as as technologies progress, it is projected that the necessity for structural heart devices will increase, thus driving market expansion and stimulating innovation in the structural heart devices market.

Market Trends-

Rapid Adoption of Transcatheter-Based Interventions

• The demand for structural heart devices is driven by the quick uptake of transcatheter-based therapies in the treatment of structural heart diseases. With transcatheter operations, minimally invasive techniques are used to deliver equipment to the heart via catheters implanted through blood vessels, usually in the chest or groin. The method has gained popularity as an alternative to open heart surgery since it provides patients with benefits like shorter hospital stays, faster recovery times, and a decreased chance of complications.  For high-risk or elderly individuals who might not be good candidates for surgery, transcatheter treatments are very beneficial. Transcatheter closure devices, such as those used to close atrial septal defects, and transcatheter heart valves, such as TAVR for aortic valve replacement, are two of the most commonly used interventions in the field of structural heart devices. In order to address structural heart diseases, transcatheter-based procedures are anticipated to become more common as procedural techniques and device technology develop, spurring innovation and market expansion.

Expanding Applications for Structural Heart Devices

• The growing uses of these devices outside of their conventional indications is driving the structural heart devices market. Structural cardiac devices were first created to treat diseases including valvular heart disease & structural defects, but they are currently being researched and used to treat a wider variety of cardiovascular disorders. For instance, left atrial appendage closures are used to avoid stroke for individuals with atrial fibrillation, and transcatheter mitral valve repair tools are being investigated for the treatment of functional mitral regurgitation.  Furthermore, the development of structural cardiac devices is becoming increasingly common for novel purposes such as heart failure and hypotension. The usage of these devices is anticipated to spread into new therapeutic areas as clinical evidence mounts and doctors get more experience with them, providing prospects for growth and variety in the structural heart devices industry.

Market Restraining Factors-

High Cost and Reimbursement Challenges

• The high cost of structural heart operations and the difficulties with reimbursement are factors driving the structural heart devices market. High procedural costs are a result of the complex devices, specialized equipment, and highly qualified healthcare providers involved in structural cardiac treatments, particularly transcatheter-based procedures. Furthermore, both healthcare professionals and patients may have to pay high upfront expenses for the purchase of medical devices and associated procedures, particularly in areas with inadequate reimbursement systems or healthcare resources. Furthermore, the regulations and choices made regarding coverage and payment by healthcare payers, such as government-run healthcare programs and private insurance providers, might differ significantly and may not necessarily correspond with the true expenses of structural cardiac treatments. Healthcare practitioners may be discouraged from providing certain structural heart procedures due to reimbursement issues, such as poor coverage, delays in reimbursement, and stringent criteria, which can cause financial barriers for patients. In order to increase patient populations eligible for treatment, enable more access to cutting-edge devices and technologies, and propel market growth in the structural heart devices market, it is imperative to address pricing issues and enhance reimbursement processes for structural heart procedures.

Report Coverage:

The report will cover the qualitative and quantitative data on the global Structural Heart Devices Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Structural Heart Devices Market Players Analysis:

• Abbott Laboratories
• Medtronic PLC
• Edwards Lifesciences Corporation
• Boston Scientific Corporation
• LivaNova PLC
• MicroPort Scientific Corporation
• Terumo Corporation
• CryoLife, Inc.
• L. Gore & Associates, Inc.
• Meril Life Sciences Pvt. Ltd.
• Braile Biomédica
• JenaValve Technology, Inc.
• Lepu Medical Technology Co., Ltd.
• Xeltis AG
• AtriCure, Inc.
• CardiAQ Valve Technologies
• Transcatheter Technologies GmbH
• Venus Medtech (Hangzhou) Inc.
• Colibri Heart Valve, LLC
• Comed B.V.

Key Industry Developments:

• In January 2023, Prominent medical device manufacturer Meditech Corp. debuted its cutting-edge TAVR system, which offers patients with aortic valve problems better precision and outcomes by combining improved delivery mechanisms and imaging capabilities.
• In March 2023, A manager in structural heart solutions, CardioTech Inc., just released their ground-breaking mitral valve repair technology.

Structural Heart Devices Market Segmentation Analysis:

By Type

• SAVR (Surgical Aortic Valve Replacement)
• TAVR (Transcatheter Aortic Valve Replacement)
• Mitral Repair (Annuloplasty)
• LAAC (Left Atrial Appendage Closure)

By Indication

• Atrial Septal Defect (ASD)
• Ventricular Septal Defect (VSD)
• Patent Foramen Ovale (PFO)
• Aortic Valve Stenosis, Others 

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, ASEAN, Rest of Asia-Pacific)
• LAMEA (Latin America, Middle East, Africa)

The report also helps in understanding Global Structural Heart Devices Market dynamics, structure by analyzing the market segments, and project the Global Structural Heart Devices Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Structural Heart Devices Market make the report investor’s guide.

Global Structural Heart Devices Market Segmentation Insights:

The market is divided into segments based on By Type, By Indication.

By Type

Based on the Type of the market is segmented into SAVR (Surgical Aortic Valve Replacement), TAVR (Transcatheter Aortic Valve Replacement), Mitral Repair (Annuloplasty), LAAC (Left Atrial Appendage Closure).

The SAVR category dominated the market in 2022 with a 51.8% revenue share, because to its well-established reimbursement codes and proven track record of efficiency in treatment operations. Surgeons use SAVR because, among other reasons, it has clearly defined surgical guidelines that they can refer to throughout surgery. Depending on the type of technology, there are market segments for surgical aortic valve replacement (SAVR), transcatheter replacement of aortic valve (TAVR), mitral repair, & left atrial appendage closure (LAAC).

On the other hand, due to TAVR is a minimally invasive treatment that can be used to replace a constricted aortic valve with the need for open-heart surgery, it is predicted to grow at the fastest CAGR of 10.2% over the forecast period. The need for TAVR treatments is anticipated to develop in tandem with the prevalence of aortic stenosis (AS). Furthermore, TAVR involves less physical surgery than open heart surgery. For patients who are more likely to experience complications from open-heart operations, this makes it a more appealing alternative.

The most contemporary TAVR devices are smaller, more flexible, and easier to implant than the older types. This has made TAVR more viable for a larger variety of patients. A study that was published in the Journal of the American College of Cardiology in May 2023 claimed that minimally invasive TAVR procedures consistently produced better clinical outcomes than open heart surgery over the course of a three-year follow-up period. Evaluating the long-term outcomes for aortic stenosis patients who underwent TAVR as part of the Evolut Low Risk trial was the aim of the study.

Regional Snapshots:

By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. In 2022, North America held the highest revenue share of 40.8% in the global structural heart device market. This was primarily due to the region's growing geriatric population, rising healthcare spending, and increased research and development efforts. Additionally, the region saw an increase in the prevalence of heart diseases. The primary cause of the regional domination is also a great inclination for least invasive procedures.

The most common type of cardiac surgery is coronary artery bypass graft (CABG)/coronary artery bypass/bypass surgery, according to data released by Cedars-Sinai in January 2022. Over 300,000 people in the United States have successful bypass surgery each year. This illustrates the increasing national incidence of cardiovascular diseases.In 2022, North America held the highest revenue share of 40.8% in the global structural heart device market. This was primarily due to the region's growing geriatric population, rising healthcare spending, and increased research and development efforts. Additionally, the region saw an increase in the prevalence of heart diseases. The primary cause of the regional domination is also a great inclination for least invasive procedures.

The Asia Pacific region is anticipated to grow at the greatest pace, a 10.0% CAGR, over the projection period. This is a result of various causes, including enhanced newborn screening programs, increased healthcare expenses, increased knowledge of heart disease, and improved local healthcare access. Furthermore, because of their reasonable price and longer life expectancy, structural heart devices are expected to become more and more in demand in the coming years in the region.

Structural Heart Devices Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions:

• How much the global Structural Heart Devices Market valued?
• Which region has the largest share in 2024 for the global Structural Heart Devices Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Structural Heart Devices Market:

• Historic year: 2019- 2022
• Base year: 2023
• Forecast: 2024 to 2031
• Representation of Market revenue in USD Million

Structural Heart Devices Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: