Structural Heart Devices Market is Projected to Register 10.2% CAGR to 2023

“The structural heart devices market is projected to register a CAGR of 10.2% during the forecast period.”

The global structural heart devices market is projected to reach USD 15.08 billion by 2023 from USD 9.28 billion in 2018, at a CAGR of 10.2%. The rising prevalence of structural heart diseases, regulatory approvals for new and advanced structural heart devices, favorable reimbursement scenario for structural heart procedures & devices, and increasing awareness about structural heart diseases are the major factors driving the growth of the structural heart devices market.

 

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“The replacement procedures segment is projected to register the highest CAGR during the forecast period.”

Based on procedure, the structural heart devices market is segmented replacement procedures and repair procedures. The replacement procedures segment is further segmented into TAVR procedures and SAVR procedures, while the repair procedures segment is subdivided into closure procedures, annuloplasty, valvuloplasty, and TMVR procedures. The replacement procedures segment is expected to register the highest CAGR during the forecast period. This can be attributed to the long-term durability of these procedures and the widespread preference for transcatheter replacement.

 

“Asia Pacific to witness the highest growth during the forecast period.”

The structural heart devices market in the Asia Pacific is projected to register the highest CAGR during the forecast period. Factors such as the rising geriatric population, favorable reimbursement scenario, increasing regulatory approvals, the presence of a large target patient population, increasing healthcare expenditure, implementation of government-funded insurance schemes, and the growing medical tourism industry in several APAC countries are expected to drive the growth of the Asia Pacific structural heart devices market.

 

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Break of primary participants is mentioned below:

  • By Company Type: Tier 1 – 62%, Tier 2 – 28%, and Tier 3 – 10%
  • By Designation: C-level – 30%, Director Level – 13%, and Others – 57%
  • By Region: North America – 38%, Europe – 20%, Asia Pacific – 30%, and the RoW – 12%,

 

The major players operating in the structural heart devices market are Edwards Lifesciences Corporation (US), Medtronic plc (Ireland), Abbott (US), Boston Scientific Corporation (US), and LivaNova plc (UK).

 

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Posted by on Friday September 14 2018, 9:20 AM EST. All trademarks acknowledged. Filed under Biotechnology, Diagnostics, Featured Press Release, Healthcare, Life Sciences, Medical Devices, Pharmaceuticals. Comments and Trackbacks closed. Follow responses: RSS 2.0

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