July 30, 2020

Structural Heart Devices Market Industrial Growth and Share Analysis Till 2023

Global Structural Heart Devices Market Size, Growth and Share Analysis By Type (Heart Valve Devices, Annuloplasty Rings, Occluders, and Delivery Systems), Indication (Valvular Heart Disease, Cardiomyopathy), Procedure (Replacement Procedures, Repair Procedures)–Global Forecast Till 2023

Competitive Landscape:

There are several structural heart device companies that are impacting the market by launching new structural heart disease devices and implementing other strategies that include mergers, acquisitions, collaborations, spurring the investment in the research and development sector, and others. These companies are Medtronic plc (Ireland), Edwards Lifesciences Corporation (US), LivaNova plc (UK), Abbott (US), Boston Scientific Corporation (US), ST. Jude Medical, Biomerics, Comed BV, JenaValve Technology, Inc., Endologix Inc. (US)., Cook Group Incorporated (US), CardioKinetix, and W. L. Gore & Associates, Inc. (US). MRFR’s analysis of the market focuses on the recent developments made by these companies that will give know-how of how the companies are trying to perform in the coming days. This will also boost the strategy making policies.

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The global structural heart devices market is on a path to score a CAGR of 10.4% during the forecast period of 2018 to 2023. Market Research Future (MRFR), in its report, dealt with several factors and restraints to understand the market flow.

Factors included in the market report are the hike in investment for the research and development facilities, better inclusion of advanced technologies, and rising demand for minimally-invasive surgeries. Various private and public organizations are ensuring the maintenance of a proper line of investment flow during the forecast period. A surge in demand for minimally-invasive surgeries is providing scope for the incorporation of advanced technologies. In developing regions, growing development in the healthcare facilities is going to attract better investment and ensure a hike in market revenues.

However, the high cost of products can be a restraint for the global structural heart devices market. In addition, stringent government policies can deter growth.

Regional Analysis

The Americas is projected to lead the structural heart devices market in the forecast period. Rising rate in a number of surgeries due to factors such as diabetes, high blood pressure, and others contribute majorly to the growth of the market. Increasing healthcare awareness, advancement in technology, medical tourism, and an increase in disposable income are some other factors that boost the growth of the market.

The European market is expected to hold the second largest market share as structural heart devices market is most common in Germany. The European market is projected to grow because of the increase in elderly population, growing prevalence of diabetes, and obesity in the region.

Asia-Pacific was projected to be the fastest growing region for the global structural heart devices market in 2018. The market is expected to witness growth owing to the rising patient population, changing lifestyle, and growing elderly population. This is expected to provide favorable backgrounds for the market to grow.

The Middle East and Africa accounts for the least share due to stringent government policies and low per capita income.

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The global structural heart devices market has been segmented on the basis of type, indication, procedure, and end-user. On the basis of type, the market has been classified as heart valve devices, occluders and delivery systems, annuloplasty rings, accessories, and other devices. The heart valve devices are segmented into transcatheter heart valves and surgical heart valves. The surgical heart valves are further sub-segmented into tissue heart valves and mechanical heart valves. On the basis of indication, the market has been classified as valvular heart disease, cardiomyopathy, congenital heart defects, and others. The valvular heart disease is segmented into regurgitation and stenosis. On the basis of procedure, the market has been classified as Replacement Procedures and repair procedures. The Replacement Procedures is segmented into TAVR procedures and SAVR procedures. The repair procedures are segmented into closure procedures, annuloplasty, valvuloplasty, and TMVR procedures. On the basis of end-users, the market has been classified as hospitals, ambulatory surgery centers, and others.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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