The global structural heart devices market is expected to reach USD 9.1 billion by 2025, based on a new report by Grand View Research, Inc. The market is expected to witness an exponential growth over the next 8 years due to the rapid increase in cardiovascular conditions and increasing power of healthcare expenditure.
The defects are mostly present at birth, thereby directly affecting the under-5 mortality rate of a country. Therefore, rigorous actions are being undertaken by various government bodies across the globe to increase access to treatment. The Centers for Disease Control and Prevention have a public action plan to efficient management of cardiac conditions.
In addition, other organizations are working on improving the scenario for structural heart diseases treatment. For instance, in November 2016, the Cardiovascular Research Foundation (CRF) announced a launch of a journal focusing on diagnosis and treatment of structural heart defects. It was titled Structural Heart: The Journal of the Heart Teamand is expected to be launched in May 2017. This is expected to trigger research & development activities along with capital invested in this field, resulting in technological advancements.
U.S. structural heart devices market by type, 2014 – 2025 (USD Million)
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Key Takeways Of The Report :
- Surgical Aortic Valve Replacement (SAVR) dominated the market in 2016, closely followed by Transcatheter Aortic Valve Replacement (TAVR). It can be attributed to the longest presence of the technique in the treatment regimen of aortic stenosis
- Left Atrial Appendage Closure (LAAC) is anticipated to be one of the fastest growing segment owing to the minimally invasive nature of the procedure. It also helps in reduction of risk of stroke, thus is projected to have a higher demand
- Geographically, North America held the largest market share in 2016 and is expected to maintain its position during the forecast period. High prevalence of cognitive heart diseases is the key reason for this dominance. Moreover, the mandatory CCHD screening for newborns imposed by the Centers for Disease Control and Prevention (CDC) and American Academy of Pediatrics (AAP) in September 2014 also contributes to the growth in this region
- Asia Pacific is also expected to witness a rapid growth over the forecast period. The improved access and capability for treatments in this region is the key reason for this growth
- Some of the key players are Medtronic, ST. JUDE MEDICAL, Boston Scientific Corporation, CardioKinetix, Comed BV, Edwards Lifesciences Corporation, LivaNova PLC, Abbott Laboratories, JenaValve Technology, Inc., and Biomerics
Structural heart devices market devices share, by geography, 2016 (%)
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Grand View Research has segmented the structural heart devices market by type and region:
Type Outlook (Market Revenue in USD Million, 2014 – 2025)
- Mitral Repair (Annuloplasty)
Regional Outlook (Market Revenue in USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
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Access Blog “Structural Heart Devices Market: Increasing Diseases Prevalence to Boost the Market by 2025“ @ https://www.grandviewresearch.com/blog/structural-heart-devices-market-size-share
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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