What Has Been the Progress and Growth of the Structural Heart Market in Recent Years?
The structural heart market has seen considerable growth due to a variety of factors.
•The size of the structural heart market has seen robust growth in the past few years. The market is projected to expand from $14.9 billion in 2024 to $15.99 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%.
The growth witnessed in the historic period is due to factors such as heightened awareness and screening, robustness in the supply chain, a rise in healthcare expenditures, market consolidation, and an enhanced understanding of cardiovascular diseases.
What Can Be Expected from the Structural Heart Market in the Coming Years?
The structural heart market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the structural heart market is anticipated to witness substantial growth. By 2029, it's projected to expand to $22.43 billion, boasting a Compound Annual Growth Rate (CAGR) of 8.8%.
The growth during this forecasted period can be ascribed to factors such as the burgeoning need for heart valve apparatuses, a spiking elderly population, the escalating prevalence of cardiovascular illnesses, diverse market divisions, and geographical market development. Key trends predicted for this period encompass the introduction of new products, advances in technology, recuperation of the economy, regulatory mandates, an upsurge in instances of cardiovascular infections, and the advent of revolutionary medical equipment.
What Main Forces Are Fueling Expansion In The Structural Heart Market?
The increasing incidence of cardiovascular ailments is believed to be a key driving factor for the expansion of the structural heart market. These illnesses, which impact the heart and vasculature, include conditions like coronary artery disease, heart failure, and stroke. The heightened incidence of cardiovascular diseases can largely be attributed to an aging demographic, lifestyle alterations, dietary changes, and the escalating incidences of obesity and diabetes. Minimally invasive procedures are employed in the diagnosis and treatment of structural heart defects, which affect the valves, chambers, and tissues surrounding the heart, offering a more effective treatment alternative than traditional open-heart surgery with fewer risks of complications. For example, a report published by the American College of Cardiology in August 2022 predicts that the prevalence of all four cardiovascular risk factors will increase between 2025 and 2060 in the United States. Diabetes will see the most significant surge, with a 39.3% increase to 55 million individuals, followed by dyslipidemia (27.6% to 126 million), hypertension (25.1% to 162 million), and obesity (18.3% to 126 million). The study also noted a probable sharp rise in rates of cardiovascular diseases, with stroke (33.8% to 15 million) and heart failure (33.4% to 13 million) leading the surge, closely followed by ischemic heart disease (30.7% to 29 million) and heart attack (16.9% to 16 million). Consequently, the increasing incidence of cardiovascular diseases is fueling the growth of the structural heart market.
What Are The Primary Segments In The Global Structural Heart Market?
The structural heart market covered in this report is segmented –
1) By Product: Occluders, Annuloplasty Rings, Heart Valve Balloons, Other Products
2) By Procedure: Heart Valve Stenosis, Heart Valve Regurgitation, Left Atrial Appendage Closure
3) By End Users: Hospitals, Ambulatory Surgical Centers, Cardiac Centers
Subsegments:
1) By Occluders: Atrial Septal Defect (ASD) Occluders, Patent Foramen Ovale (PFO) Occluders, Ventricular Septal Defect (VSD) Occluders
2) By Annuloplasty Rings: Rigid Annuloplasty Rings, Flexible Annuloplasty Rings, Adjustable Annuloplasty Rings
3) By Heart Valve Balloons: Balloon Expandable Heart Valve Systems, Valvuloplasty Balloons
4) By Other Products: Transcatheter Heart Valves, Structural Heart Imaging Devices, Delivery Systems For Structural Heart Procedures
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Which Key Trends Are Driving Changes In The Structural Heart Market?
The rise in technological advancements is a major trend that is gaining traction in the structural heart market. To solidify their standing in this market, leading companies in structural heart are focusing on developing state-of-the-art products. For instance, Eko Health, a renowned digital health firm from the US, introduced the SENSORA cardiac disease detection platform in February 2023 for non-invasive detection of heart diseases in primary care situations. The platform, SENSORA, utilizes artificial intelligence to accurately detect structural murmurs, indicative of valvular heart disease, and offers a care route analytics software that gives comprehensive metrics and visibility of the patient's journey throughout the healthcare system, by capturing and analyzing heart sounds and electrical signals via its digital stethoscopes. This platform is designed to help in making crucial decisions by spotting care gaps, which can be converted into improved operational efficacy - such as minimizing care delivery delays, duration of stay, and readmission rates, as well as boosting satisfaction levels for physicians and patients.
Who Are the Key Players in the Structural Heart Market?
Major companies operating in the structural heart market include:
• Abbott Laboratories
• Medtronic plc
• Boston Scientific Corporation
• Edwards Lifesciences Corporation
• Trane Technologies
• Lepu Medical Technology Co. Ltd.
• LivaNova PLC
• Biomerics LLC
• Venus Medtech (Hangzhou) Inc.
• Cryolife Inc.
• Endologix Inc.
• Shockwave Medica Inc.
• Braile Biomédica
• JenaValve Technology Inc.
• Corvia Medical Inc
• HLT Medical
• On-X Life Technologies Inc.
• Symetis SA
• Magenta Therapeutics
• PASCAL Medical
• Micro Interventional Devices Inc.
• CardioKinetix Inc
• Tendyne Holdings Inc.
• Q'Apel Medical Inc.
• Neovasc Inc.
• NVT AG
• Z-Medical GmbH + Co. KG
What Is The Most Dominant Region In The Structural Heart Market?
North America was the largest region in the structural heart market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the structural heart market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
