Structural Heart Device Market Trends and Forecast
The global structural heart device market looks promising with opportunities in public and private hospitals. The global structural heart device market is expected to reach an estimated $13 billion by 2030 and it is forecast to grow at a CAGR of 8% from 2023 to 2030. The major drivers for market growth are growing demand for minimally invasive surgery, growing healthcare expenditure, and a growing geriatric population.
The structural heart devices are typically composed of several specialized materials to meet stringent medical requirements. Common raw materials include biocompatible metals such as stainless steel, titanium, and nitinol, which offer strength, durability, and corrosion resistance necessary for implantable medical devices. Polymer materials like medical-grade plastics and silicones are used for components such as seals and delivery systems, ensuring flexibility and biocompatibility. Additionally, biologic materials such as bovine pericardium or porcine valves are utilized in tissue-engineered devices, providing natural tissue properties essential for cardiac applications. These materials undergo rigorous testing to ensure safety and efficacy in structural heart interventions. The pricing of structural heart devices varies significantly depending on factors such as device complexity, materials used, and manufacturer pricing strategies. Compared to competitors, pricing in the market reflects a balance between technological innovation, manufacturing costs, and the healthcare provider's willingness to invest in advanced cardiac care solutions. Competitive pricing dynamics often drive manufacturers to offer competitive advantages through value-added features, cost-effective manufacturing processes, and strategic pricing models that cater to diverse healthcare markets globally.
• Lucintel forecasts that the TAVR, TMVR, and tissue heart valve segments in structural heart device market are expected to show above average growth during the forecast period.
• Within the global structural heart device market, the TAVR segment is expected to remain the largest segment. Increased catheter based procedures coupled with rising adoption of technological advancements in an effort to reduce treatment duration for high conventional surgical risk patients is expected to result in significant growth of the transcatheter aortic valve replacement market.
• North America is expected to remain the largest market and is expected to witness the highest growth rate during the forecast period mainly due to increasing adoption of minimally invasive procedures for heart valve repair and replacement in this region.
Country Wise Outlook for the Structural Heart Device Market
The structural heart device market is experiencing robust growth globally, driven by rising demand across diverse industries such as demand across diverse industries such as cardiology, driven by advancements in minimally invasive procedures, and medical tourism, fostering accessibility to advanced cardiac care worldwide. Below image highlights recent developments by major structural heart device market producers in key regions: the USA, China, India, Brazil, and Germany.
Emerging Trends in the Structural Heart Device Market
Emerging trends in the structural heart device market shaping its future applications and market dynamics:
• Advancements in Minimally Invasive Techniques: There is a significant shift towards minimally invasive procedures such as transcatheter interventions for treating structural heart diseases. Innovations in catheter-based technologies are improving procedural outcomes, reducing recovery times, and expanding patient eligibility.
• Development of Next-Generation Valve Technologies: Ongoing research and development efforts are focused on improving the design, durability, and functionality of transcatheter heart valves (THVs). Innovations include novel materials, enhanced delivery systems, and valve-in-valve techniques for treating valve-in-valve procedures.
• Expansion into New Indications: Structural heart devices are increasingly being explored for new indications beyond traditional valve replacements. This includes devices for left atrial appendage closure (LAAC), treatment of mitral regurgitation, and repair of congenital heart defects, broadening the market potential.
• Growing Emphasis on Personalized Treatment Approaches: There is a growing emphasis on personalized treatment approaches in structural heart interventions. This includes patient-specific anatomical modeling, advanced imaging technologies (such as 3D echocardiography and CT/MRI), and computer-assisted planning to optimize procedural outcomes.
• Integration of Digital Health and Remote Monitoring: Digital health solutions are being integrated into structural heart care, enabling remote patient monitoring, real-time data analytics, and telemedicine consultations. These technologies aim to enhance patient management, improve clinical outcomes, and reduce healthcare costs.
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Recent Developments by the Structural Heart Device Market Suppliers
Recent developments in structural heart device by various companies highlight ongoing innovations and advancements across different sectors:
• Expansion of Indications: Structural heart devices are increasingly being approved and utilized for new indications beyond traditional valve replacements, such as mitral valve repair and left atrial appendage closure (LAAC).
• Technological Advancements: Continuous innovations in device design and materials, including the development of next-generation transcatheter heart valves (THVs) and improved delivery systems, are enhancing procedural outcomes and patient safety.
• Clinical Trials and Studies: Ongoing clinical trials and studies are evaluating the long-term efficacy and safety of structural heart devices, providing valuable data to support broader adoption and regulatory approvals.
• Digital Health Integration: Integration of digital health technologies such as remote monitoring and telehealth solutions into structural heart care is improving patient management and post-procedural monitoring.
• Regulatory Updates: Regulatory agencies worldwide are updating guidelines and accelerating approvals for new structural heart devices, facilitating faster market entry and adoption of innovative technologies.
• Market Expansion: Emerging markets in Asia-Pacific, Latin America, and Eastern Europe are witnessing increased investment and adoption of structural heart devices, driven by improving healthcare infrastructure and rising healthcare expenditure.
Strategic Growth Opportunities for Structural Heart Device Market
The structural heart device market is very dynamic due to its unique properties of being lightweight, strong and thermally stable. Some key strategic growth opportunities for this market include:
Technological advancements:
• The structural heart devices market has been evolving in terms of materials, designing and manufacturing techniques. Transcatheter heart valves (THVs) are some of these products, whose innovation is trending among consumers due to their non-invasive treatment options as opposed to conventional open-heart surgeries. It may be prudent for companies that are going into research and development processes for the purposes of improving on the durability, functionality and ease of implantation of their products if they want to have a good market share.
Aging population and cardiovascular diseases surge:
• Globally, there is a changing population towards ageing which is more prone to such structural heart diseases as Mitral Regurgitation and Aortic Stenosis. This age pattern will increase the uptake of structural heart devices through minimally invasive procedures which have minimized recovery time, quickened healing rate compared to conventional surgical methods.
Penetration into emerging markets:
• Fast growing economies offer growth opportunities backed by improvement in health care infrastructure better incomes with increased awareness about cardiovascular ailments. For instance, businesses looking at expanding their footprint in Asia-Pacific or Latin America can exploit these potential areas by tailoring their innovations according local customs and specifications.
Patient preference for minimal invasive procedures:
• Nowadays patients prefer minimal invasive surgery because they require less hospitalization, shorter recovery periods than open-heart surgeries not forgetting reduced risks of complications associated with it. This approach was adopted in treating certain structural heart conditions using atrial septal defect (ASD) thus resulting into patent foramen ovale (PFO) closure devices.
Collaborations with Strategic Partnerships:
• Enhancing innovation and penetration across the industry requires partnerships between equipment manufacturers’ medical staffs’ teams alongside other researchers . For instance strategic agreements made can help firms get new technologies regulatory pathways and clinical expertise thereby becoming more efficient when launching new commodities in the world market.
Developments in Regulations and Reimbursements:
• The market can be greatly expanded through favorable regulatory environments and reimbursement policies. Simplified regulatory processes which lead to the approval as well as reimbursement of structural heart devices, that are innovative in nature, could reduce time to market and encourage investment in new technologies.
By taking advantage of these strategic growth opportunities, the Structural Heart Device Market can realize its full potential and transform numerous industries through revolutionary advancements in minimally invasive procedures, innovative device technologies, and improved patient outcomes.
Structural Heart Device Market Driver and Challenges
The structural heart device market plays a crucial role across diverse industries within the construction sector. In infrastructure projects, such as In infrastructure projects, such as bridges and high-rise buildings, structural heart devices ensure the structural integrity and safety through advanced materials and engineering solutions
The factors responsible for driving the structural heart device market include:
1. Increasing Prevalence of Cardiovascular Diseases: The rise in the number of cardiovascular disease cases has been a significant contributor, especially with older people. For example, structural heart diseases such as aortic stenosis and mitral regurgitation are increasing making it necessary for advanced options like structural heart devices.
2. Technological Advancements: A major driver is the continuous innovation of device technologies. To illustrate this point, transcatheter heart valves (THVs) and minimally invasive procedures are some examples. All these result in enhanced treatment outcomes, reduced recovery times and alternative to traditional open-heart surgeries thus expanding the market.
3. Shift towards Minimally Invasive Procedures: Patient preference for minimally invasive procedures creates demand for structural heart devices. When compared to open-heart surgery, those that have undergone this procedure benefit from shorter hospital stay; quick recovery time and reduced complications resulting in increased adoption.
4. Aging Population: Notably, globally shift towards an aging population greatly contributes to growth of markets. Globally, more aged persons are susceptible to structural heart diseases hence larger patients’ pool being available for management through structural heart devices.
Challenges facing the structural heart device market are:
1. Complex Regulatory Landscape: The process of regulatory approval for medical devices including structural heart devices takes long since it is complicated. Additionally multiple regulatory frameworks across different regions contribute to increased operational costs and time-to-market
2. Technological Barriers: Despite improvements made so far, durability of the device remains a challenge, as well as design optimization and procedural efficacy. For instance, ensuring the consistency of the device’s performance and its durability over a long period in order not to fail is always the key focus of manufacturers.
3. Competitive Market Dynamics: The structural heart device market place has many players competing for space. Consequently, this leads to high pricing pressure and continuous innovation in order to distinguish their products from others.
4. Clinical and Safety Considerations: It is important that safety and efficacy are ensured in diverse patient populations including patients with complex anatomies or comorbidities. Additionally, long term clinical data combined with post-market surveillance play an essential role in addressing safety as well as improving patient outcomes.
Innovations in material science and manufacturing processes have revolutionized the structural heart device market, enabling the development of advanced materials such as biocompatible polymers and alloys with enhanced durability and flexibility tailored for cardiovascular applications.
Structural Heart Device Market Suppliers and Their Market Shares
In this globally competitive market, several key players such as Edwards Lifesciences Corporation, Medtronic Public Limited Company, Abbott Laboratories., Medtronic Public Limited Company, and LivaNova PLCetc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies structural heart device companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the structural heart device companies profiled in this report includes.
• Edwards Lifesciences Corporation
• Medtronic Public Limited Company
• Abbott Laboratories
• Medtronic Public Limited Company
• LivaNova PLC
These companies have established themselves as leaders in the structural heart device market, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the structural heart device market are evolving, with the entry of new players and the emergence of innovative structural heart device market technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Structural Heart Device Market by Segment
Major segments of the structural heart device market experiencing growth include transcatheter heart valves, driven by advancements in minimally invasive techniques for valve replacement and repair. Additionally, left atrial appendage closure devices are seeing increased adoption to reduce stroke risk in atrial fibrillation patients, contributing to significant market expansion.
This structural heart device market report provides a comprehensive analysis of the market's current trends, growth drivers, challenges, and future prospects in all major segments like above. It covers various segments, including material, application, and diameter type. The report offers insights into regional dynamics, highlighting the major markets for structural heart device and their growth potentials. The study includes trends and forecast for the global structural heart device market by material, application, diameter type and region as follows:
Structural Heart Device Market by Procedure [$ million analysis from 2018 to 2030]:
• Repair
• Annuloplasty
• Valvuloplasty
• Transcatheter Mitral Valve Repair (TMVR)
• Repair Other
• Replacement
• Surgical Valve
• Mechanical Heart Valve
• Tissue Heart Valve
• Transcatheter Aortic Valve Replacement (TAVR)
Structural heart device market by position [$ million analysis from 2018 to 2023]:
• Aorta
• Mitral
• Other
Structural heart device market by region [$ million analysis from 2018 to 2023]:
• North America
• Europe
• APAC
• ROW
Structural Heart Device Market by Procedure [$ million analysis from 2018 to 2030]:
• Repair
• Annuloplasty
• Valvuloplasty
• Transcatheter Mitral Valve Repair (TMVR)
• Repair Other
• Replacement
• Surgical Valve
• Mechanical Heart Valve
• Tissue Heart Valve
• Transcatheter Aortic Valve Replacement (TAVR)
Structural heart device market by position [$ million analysis from 2018 to 2023]:
• Aorta
• Mitral
• Other
Structural heart device market by region [$ million analysis from 2018 to 2023]:
• North America
• Europe
• APAC
• ROW
Features of the Structural Heart Device Market
Market size estimates: Global structural heart device market size estimation in terms of value ($M) shipment.
Trend and forecast analysis: Market trend (2011-2016) and forecast (2017-2022) by segments and region.
Segmentation analysis: Global structural heart device market size by various applications such as procedure, and position in terms of value and volume shipment.
Regional analysis: Structural heart market breakdown by key regions such as North America, Europe, and Asia & Rest of World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of structural heart device market.
Strategic analysis: This includes M&A, new product development, competitive landscape, of structural heart device suppliers.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in global structural heart device markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q1. What is the structural heart device market size?
Answer: The global structural heart device market is expected to reach an estimated $13 billion by 2030.
Q2. What is the growth forecast for structural heart device market?
Answer: The structural heart device market is expected to grow at a CAGR of 8% from 2023 to 2030.
Q3. What are the major drivers influencing the growth of the structural heart device market?
Answer: The major drivers for market growth are growing demand for minimally invasive surgery, growing healthcare expenditure, and a growing geriatric population.
Q4. What are the major segment for structural heart device?
Answer: Home comfort segment are the major product look segments for structural heart device.
Q5. What are the emerging trends in structural heart device market?
Answer: Emerging trends, which have a direct impact on the dynamics of the structural heart device industry, includes advancements in minimally invasive techniques, development of next-generation valve technologies, expansion into new indications, growing emphasis on personalized treatment approaches, and integration of digital health and remote monitoring
Q6. Who are the key structural heart device companies?
Answer: Some of the key structural heart device companies are as follows:
• Edwards Lifesciences Corporation
• Medtronic Public Limited Company
• Abbott Laboratories
• Medtronic Public Limited Company
• LivaNova PLC
Q7.Which structural heart device product segment will be the largest in future?
Answer: Lucintel forecasts that TAVR segment segment will remain the largest segment due to its superior outcomes in minimally invasive heart valve replacement procedures, expanding adoption among elderly patients and those with high surgical risk, driving growth in the transcatheter aortic valve replacement (TAVR) segment.
Q8: In structural heart device market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to remain the largest region and witness the highest growth over next 7 years.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1. What are some of the most promising, high-growth opportunities for global structural heart device market by procedure, which includes repair (annuloplasty, valvuloplasty, transcatheter mitral valve repair, and other repairs) and replacement (surgical valves, mechanical heart valves, tissue heart valves, and transcatheter aortic valves), position (aorta, mitral, and other), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which products segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in structural heart device market?
Q.5. What are the business risks and competitive threats in structural heart device market?
Q.6. What are the emerging trends in structural heart device market and the reasons behind them?
Q.7. What are some of the changing demands of customers in structural heart device market?
Q.8. What are the new developments in structural heart device market and which companies are leading these developments?
Q.9. Who are the major players in structural heart device market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in structural heart device market and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M&A activity has occurred in structural heart device market for the last 5 years?
For any questions related to structural heart device market or related to structural heart device market share, structural heart device market analysis, structural heart device market size, and structural heart device market manufacturers, write to Lucintel analysts at helpdesk@lucintel.com. We will be glad to get back to you soon.