Report Overview

Global Structural Heart Devices Market - Industry Trends & Forecast Report 2028

Global Structural Heart Devices Market was worth USD 11.63 billion in 2021 and is further projected to reach USD 24.16 billion by the year 2028, exhibiting a CAGR of 11.2% during the forecast period (2022-2028). The rapid expansion of the market is predominantly due to the increase in the number of life-threatening heart diseases, as well as technological advancements in medical devices. Moreover, the high demand for novel products for the treatment of cardiovascular diseases with greater efficiency and accuracy is expected to drive market growth over the next five years. Furthermore, the increasing popularity of annuloplasty repair devices, valvuloplasty devices, and occluders, among other devices. Also the high utilization of various structural heart therapeutic products for the numerous and diverse types of structural heart diseases with better therapeutic outcomes, all have an impact on the structural heart devices market.

Structural Heart Devices - Overview

Structural heart devices are the equipment for Structural heart and valve disease is a condition characterized by problems with the heart's tissues or valves. The heart has four valves, each with tissue flaps that open and close with each heartbeat. The flaps ensure that blood flows in the proper direction. Moreover, annuloplasty rings, heart valve balloon occluders, and other structural heart devices are examples. If the heart is enlarged or has a leaky valve, these devices are used to reshape and tighten the ring around it. Furthermore, most structural heart conditions are present from birth (congenital), but they can also be acquired later in life as a result of infection-related wear and tear. Medical advances have led to the replacement of open-heart surgical procedures with minimally invasive procedures such as transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR).

Global Structural Heart Devices Market Forecast and Trends

Growth Drivers

Demand for Minimally Invasive Procedures is Increasing.

Because structural heart devices and techniques are minimally invasive, they are preferred over other techniques such as open-heart surgeries. Minimally invasive procedures such as mitral valve replacement, aortic valve replacement, and prosthetic heart valve replacement are widely used by cardiologists to treat structural heart diseases. According to the Center for Structural Heart Disease at Henry Ford Hospital (CSHD), approximately 80,000 patients undergo mitral valve repair or replacement surgery each year. Furthermore, innovative developments in structural heart devices and procedures, such as aortic valve replacement valves, left arterial appendage closure devices, and the introduction of tissue or biological valves, are expected to provide the market with promising growth opportunities.

The Number of Patients Suffering from Structural Heart Disease is Increasing.

Because of the increased number of patients suffering from structural heart diseases, there has been an increase in demand for structural heart devices. Because these disorders are generally congenital, they are very common in newborns. According to The Nemours Foundation, approximately one in every 100 newborns has congenital heart defects, which can range from mild to severe. According to Micro Interventional Devices, Inc., structural heart defects affect approximately 60 million people in the United States, or 20-25 percent of the adult population. According to the Center for Structural Heart Disease at Henry Ford Hospital (CSHD), approximately 250,000 patients are diagnosed with mitral valve diseases each year at Henry Ford Hospital. Additionally, 1.75 million people in Europe have aortic stenosis. These statistics demonstrate the need for structural heart treatment devices, providing impetus to develop new techniques for heart defect repair and replacement. TAVR procedures were approved in Europe in 2007, and in the United States in 2012. Furthermore, each year, approximately 80,000 patients undergo mitral valve repair or valve replacement surgery.

Technological Advancements in the Industry of Structural Heart Devices

The improved treatments for improving quality of life and increasing life expectancy drive demand for technologically advanced structural heart devices such as advanced tissue heart valves for structural heart repair and replacement. Furthermore, the introduction of tissue valves for tissue aortic valve replacement has improved the quality of life for patients suffering from aortic regurgitation. For example, the April 2016 launch of St. Jude's Trifecta valve with Glide Technology (GT), an advanced tissue valve, gave patients with aortic valve replacement options. Technological advancements cause changes in the treatment patterns of heart-related disorders, lowering the burden of heart disease. Novel tissue valves and mechanical heart valves are widely used in the treatment of heart valve disease.

Restraints

The Treatment Procedures are Expensive and Dangerous.

The high cost of advanced structural heart devices, as well as the risks associated with the procedures, are major market growth constraints. Because these devices are more expensive than their traditional counterparts, adoption of technologically advanced structural heart devices is low, particularly in emerging economies. According to Edwards Lifesciences, the cost of a SAPIEN transcatheter heart valve with the RetroFlex 3 Transfemoral System is $32,500, which is prohibitively expensive for the average person. Furthermore, risks associated with these devices include stroke, kidney failure, and gastrointestinal complications, which have been observed following mitral valve replacement surgery.

Impact of COVID-19 on Global Structural Heart Devices Market

The COVID-19 outbreak has had an impact on a variety of industries around the world. To limit the pandemic's rapid spread, governments around the world implemented strict lockdown measures and social distancing norms. During the early stages of the pandemic, manufacturing facilities around the world were shut down. Furthermore, the economic crisis that followed the pandemic could cause a significant delay in the commercialization of the Structural Heart Devices Market. As a result of supply chain disruptions, market participants faced numerous challenges. However, as more supplies become available in the second half of 2022, things will improve during the forecast period (2022-2028).

Global Structural Heart Devices Market - By Product Type

Based on the product type, the Global Structural Heart Devices Market is segmented into Heart Valve Devices, Transcatheter Heart Valves, Surgical Heart Valve (Tissue Heart Valves, Mechanical Heart Valve), Occuluders & Delivery Systems, Annuloplasty Rings, Accessories, and Others. Among these, Heart Valve Devices accounts for the largest share in the Global Structural Heart Devices Market. This is due to the increasing number of transcatheter aortic valve replacement procedures performed globally, the efficacy and durability of these products, and the growing number of regulatory approvals for heart valve devices all contribute to the segment's rapid growth. All these factors propel the growth of the Global Structural Heart Devices Market during a forecast period (2022-2028).

Global Structural Heart Devices Market – By Procedure

Based on procedure, the Global Structural Heart Devices Market is segmented into Replacement procedures are further subdivided into TAVR (transcatheter aortic valve replacement) procedures and SAVR (surgical aortic valve replacement) procedures, while repair procedures are further subdivided into Closure Procedures, Annuloplasty, Valvuloplasty, TMVR Procedures, and Others. The replacement procedures segment accounts to hold the largest market share during the forecast period (2022-2028). The long-term durability of these procedures, as well as the widespread preference for transcatheter replacement, can be attributed to the segment's growth. All these factors boost the growth of the Global Structural Heart Devices Market during the forecast period (2022-2028).

Global Structural Heart Devices Market - By Region

Geographically, the Global Structural Heart Devices Market is segmented into North America, Europe, The Asia Pacific, Latin America, The Middle East and Africa. Among these, North America holds the largest share of the Global structural heart devices market. The rising prevalence of structural heart diseases, favorable reimbursement scenario for structural heart procedures and devices, technological advancements, and development of innovative devices all contribute to this region's large share of the global market. Moreover, during the forecast period, the Asia Pacific region is expected to have the highest CAGR. Rising geriatric populations, favorable reimbursement scenarios, increasing regulatory approvals, the presence of a large target patient population, rising healthcare expenditure, the implementation of government-funded insurance schemes, and the growing medical tourism industry in several APAC countries are expected to drive the growth of the Asia Pacific structural heart devices market.

Competitive Landscape

The leading market players in the Global Structural Heart Devices Market are Abbott Laboratories, Affluent Medical SA, Artivion Inc, AtriCure Inc, CORONEO Inc, Braile Biomedica, Boston Scientific Corporation, Getinge AB, Jc Medical Inc, Johnson and Johnson Inc, and other prominent players

The Global Structural Heart Devices Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Recent Development

• In May 2022, Abbott and laboratories announced a distinctive minimally invasive vascular heart valve repair device. The company also revealed new data on two key components of its market-leading structural heart portfolio, MitraClip, and Amplatzer Amulet.

Scope of the Report

By Product type

• Heart Valve Devices
• Transcatheter Heart Valves
• Surgical Heart Valve

• Tissue Heart Valves
• Mechanical Heart Valve

• Occuluders & Delivery Systems
• Annuloplasty Rings
• Accessories
• Others

By Procedure

• Replacement Procedures

• TAVR Procedures
• SAVR Procedures

• Repair Procedures

• Closure Procedures
• Annuloplasty
• Valvuloplasty
• TMVR Procedures
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Structural Heart Devices Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Structural Heart Devices Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product type
         1. Heart Valve Devices
            1. Transcatheter Heart Valves
            2. Surgical Heart Valve
               1. Tissue Heart Valves
               2. Mechanical Heart Valve
            3. Occuluders & Delivery Systems
            4. Annuloplasty Rings
            5. Accessories
            6. Others
      2. By Procedure
         1. Replacement Procedures
            1. TAVR Procedures
            2. SAVR Procedures
         2. Repair Procedures
            1. Closure Procedures
            2. Annuloplasty
            3. Valvuloplasty
            4. TMVR Procedures
            5. Others
      3. By Region
         1. North America
         2. Europe
         3. The Asia Pacific
         4. Latin America
         5. The Middle East and Africa
6. North America Structural Heart Devices  Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product type
      2. By Procedure
      3. By Country
         1. United States
         2. Canada
7. Europe Structural Heart Devices  Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product type
      2. By Procedure
      3. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. The Asia Pacific Structural Heart Devices  Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product type
      2. By Procedure
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of Asia Pacific
9. Latin America Structural Heart Devices  Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product type
      2. By Procedure
      3. By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. The Middle East & Africa Structural Heart Devices  Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Product type
       2. By Procedure
       3. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of Middle East & Africa
2. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership.)
3. Supplier Analysis
4. Impact of Covid-19 on Global Structural Heart Devices  Market Industry
5. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
   1. Abbott Laboratories
   2. Affluent Medical SA
   3. Artivion Inc
   4. AtriCure Inc
   5. CORONEO Inc ,
   6. Braile Biomedica
   7. Boston Scientific Corporation
   8. Getinge AB
   9. Jc Medical Inc
   10. Johnson and Johnson Inc,
   11. Other Prominent Players
6. Key Strategic Recommendations

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List Of Figures

Figure 1: Global Structural Heart Devices Market Segmentation

Figure 2: Global Structural Heart Devices Industry Value Chain Analysis

Figure 3: Global Structural Heart Devices Market Size, By Value (USD Million),2018-2028

Figure 4: Global Structural Heart Devices Market Share (%), By Product type, By Value, 2018-2028

Figure 5: Global Structural Heart Devices Market Share (%), By Procedure, By Value, 2018-2028

Figure 6: Global Structural Heart Devices Market Share (%), By Country, By Value, 2018-2028

Figure 7: North America Structural Heart Devices Market Size, By Value (USD Million), 2018-2028

Figure 8: North America Structural Heart Devices Market Share (%), By Product type, By Value, 2018-2028

Figure 9: North America Structural Heart Devices Market Share (%), By Procedure, By Value, 2018-2028

Figure 10: North America Structural Heart Devices Market Share (%), By Country, By Value, 2018-2028    

Figure 11: Europe Structural Heart Devices Market Size, By Value (USD Million), 2018-2028

Figure 12: Europe Structural Heart Devices Market Share (%), By Product type, By Value, 2018-2028

Figure 13: Europe Structural Heart Devices Market Share (%), By Procedure, By Value, 2018-2028

Figure 14: Europe Structural Heart Devices Market Share (%), By Country, By Value, 2018-2028

Figure 15: The Asia-Pacific Structural Heart Devices Market Size, By Value (USD Million), 2018-2028

Figure 16: The Asia-Pacific Structural Heart Devices Market Share (%), By Product type, By Value, 2018-2028

Figure 17: The Asia-Pacific Structural Heart Devices Market Share (%), By Procedure, By Value, 2018-2028  

Figure 18: The Asia-Pacific Structural Heart Devices Market Share (%), By Country, By Value, 2018-2028

Figure 19: Latin America Structural Heart Devices Market Size, By Value (USD Million), 2018-2028

Figure 20: Latin America Structural Heart Devices Market Share (%), By Product type, By Value, 2018-2028

Figure 21: Latin America Structural Heart Devices Market Share (%), By Procedure, By Value, 2018-2028

Figure 22: Latin America Structural Heart Devices Market Share (%), By Country, By Value, 2018-2028

Figure 23: The Middle East & Africa Structural Heart Devices Market Size, By Value (USD Million),2018-2028

Figure 24: The Middle East & Africa Structural Heart Devices Market Share (%), By Product type, By Value, 2018-2028

Figure 25: The Middle East & Africa Structural Heart Devices Market Share (%), By Procedure, By Value, 2018-2028

Figure 26: The Middle East & Africa Structural Heart Devices Market Share (%), By Country, By Value, 2018-2028

Figure 27: Global Structural Heart Devices Market Share Analysis, 2021

List Of Tables

Table 1: Global Structural Heart Devices Market Size, By Product type, By Value (USD Million), 2018-2028

Table 2: Global Structural Heart Devices Market Size, By Procedure, By Value (USD Million), 2018-2028

Table 3: Global Structural Heart Devices Market Size. By Country, By Value (USD Million), 2018-2028

Table 4: North America Structural Heart Devices Market Size, By Product type, By Value (USD Million), 2018-2028

Table 5: North America Structural Heart Devices Market Size, By Procedure, By Value (USD Million), 2018-2028

Table 6: North America Structural Heart Devices Market Size (USD Million), By Country, By Value 2018-2028 

Table 7: Europe Structural Heart Devices Market Size, By Product type, By Value (USD Million), By Value 2018-2028

Table 8: Europe Structural Heart Devices Market Size, By Procedure, By Value (USD Million), By Value 2018-2028

Table 9: 40 Europe Structural Heart Devices Market Size (USD Million), By Country, By Value 2018-2028

Table 10: The Asia-Pacific Structural Heart Devices Market Size, By Product type, By Value (USD Million), By Value 2018-2028

Table 11: The Asia-Pacific Structural Heart Devices Market Size (USD Million), By Product type, By Value 2018-2028

Table 12: The Asia-Pacific Structural Heart Devices Market Size (USD Million), By Procedure, By Value 2018-2028

Table 13: The Asia-Pacific Structural Heart Devices Market Size (USD Million), By Country, By Value 2018-2028

Table 14: Latin America Structural Heart Devices Market Size, By Product type, By Value (USD Million), By Value 2018-2028

Table 15: Latin America Structural Heart Devices Market Size, By Procedure, By Value (USD Million), 2018-2028

Table 16: Latin America Structural Heart Devices Market Size (USD Million), By Country, By Value 2018-2028  

Table 17: The Middle East & Africa Structural Heart Devices Market Size, By Product type, By Value (USD Million), 2018-2028

Table 18: The Middle East & Africa Structural Heart Devices Market Size, By Procedure, By Value (USD Million), 2018-2028

Table 19: The Middle East & Africa Structural Heart Devices Market Size (USD Million), By Country, By Value 2018-2028 

Table 20:  List of Key Players and Their Offerings

Table 21:  Competitive Benchmarking, by Operating Parameters

Table 22       Abbott Laboratories Company Overview

Table 23        Abbott Laboratories Financial Overview

Table 24        Affluent Medical SA Company Overview

Table 25        Affluent Medical SA Financial Overview

Table 26        Artivion Inc Company Overview

Table 27        Artivion Inc Financial Overview

Table 28        AtriCure Inc Company Overview

Table 29        AtriCure Inc Financial Overview

Table 30        CORONEO Inc Company Overview

Table 31        CORONEO Inc Financial Overview

Table 32        Braile Biomedica Company Overview

Table 33        Braile Biomedica Financial Overview

Table 34        Boston Scientific Corporation Company Overview

Table 35        Boston Scientific Corporation Financial Overview

Table 36        Getinge AB Company Overview

Table 37        Getinge AB Financial Overview

Table 38        Jc Medical Inc Company Overview

Table 39        Jc Medical Inc Financial Overview

Table 40        Johnson and Johnson Inc Company Overview

Table 41        Johnson and Johnson Inc Financial Overview