The global structural Heart market accounted to US$ 6,406.3 Mn in 2017 and is expected to grow at a CAGR of 10.5% during the forecast period 2018 – 2025, to account to US$ 13,850.2 Mn by 2025. According to The Insight Partners market research study titled ‘Structural Heart Market to 2025 – Global Analysis and Forecasts by Product, Procedure and End User. The report highlights the trends prevalent in the global structural heart market and the factors driving the market along with the restraints that are impacting its growth. North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period. North American market is driven by the factors such as, rising prevalence of heart diseases, growing number of regulatory approvals and product launches in the region.
The report includes the driving factors such as innovative structural heart services, clinical trials, rise in the number of cardiovascular procedure and corresponding training programs and changing lifestyle increasing disease burden. The growth opportunities in the emerging market is likely to open up additional opportunities for the market growth in coming near future. Similarly, the trend that is expected to drive the growth of the market in coming future is technological advancement.
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Innovative Structural Heart Services
The rise in technological advancement has led to various innovations for the products and treatment services that enables the surgeon, physicians and other healthcare providers to provide best health to their patients. The innovations are not only limited to the healthcare facilities nevertheless they are extended to the programs that are being designed for the patients to get benefit out of the treatment facilities. Food and Drug Administration (FDA) has approved various therapies that are limited to the selected groups of the patients. There some personal healthcare provider who analyze the heart condition and available treatment of choices.
For instance, Premier Health is among those providers who provides innovative structural heart services which include alcohol septal ablation which treats hypertrophic cardiomyopathy with the use of catheter-based technology, balloon valvuloplasty which uses a transcatheter approach for widening up a stiff and narrow heart valves, atrial septal defect transcatheter repair which closes an opening between the heart’s left and right atrium without surgery and such more services are being provided by the service providers.
Rise in the Number of Cardiovascular Procedure and Corresponding Training Programs
The cardiac arrest or the other heart related diseases are wide spreading incidence and are impacting severely on the public health and wellbeing. The cardiovascular disease are the second leading cause of death across the world. For instance, according to World Health Organization (WHO) approximately 17.7 million people died in 2015 due to the cardiovascular diseases, the number contributes to the 31% of the global deaths.
The among these deaths it was estimated that near about 7.4 million deaths were due to coronary heart diseases and near about 6.7 million deaths were due to the heart stroke. Among the 17 million deaths the premature deaths were contributed due to non-communicable diseases in 2015, this number relates approximately to 82% were in low and middle-income countries, and approximately 37% were due to CVDs. Therefore, various strategies and initiations are being taken to control the cardiovascular diseases.
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The global structural heart market by product was led by occluders segment. In 2017, the occluders segment held a largest market share of 42.0% of the structural heart market, by product. The segment is also expected to dominate the market during the year 2025, due to benefits such as, 50% of reduction in the meshwork material on the left atrial side and eliminates the left atrial disc microsrew, minimizes the risk of thrombus formation and damage to the distal wall of the left atrium during the implantation procedure
The structural heart market by procedure was segmented into surgical aortic valve replacement, transcatheter aortic valve replacement, mitral repair and left atrial appendage closure. The surgical aortic valve replacement segment held the largest share of the market, by procedure. The segment is also likely to dominate during the forecast period, as it helps in restoring the normal blood flow, prolong life and help to preserve the function of heart muscles.
End User Insights
The structural heart market by end user was segmented into hospital, ambulatory surgical centers and cardiac centers. The hospitals segment held the largest share of the market, by end user. The segment held a market share of around 49.9% during the year 2017 and is anticipated to dominate by 2025, among the end users.
Key industry players operating in the field of structural heart across the globe include Abbott, Medtronic, Boston Scientific Corporation, CryoLife Ins, Edwards Lifesciences Corporation, LivaNova Plc, Lepu Medical, Braile Biomedica, Labcor Laboratorios Ltda, Aran biomedical Teornta among others.
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