Global Structural Heart Devices Market Size (2024 - 2029)

Structural Heart Devices Market Analysis

The Structural Heart Devices Market is poised to grow at a CAGR of 8.56% over the forecast period (2022 - 2027).

The Covid-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities. This exposed vulnerable patients with cardiovascular diseases to significant risks. However, the demand for various cardiovascular devices including structural heart devices increased during the pandemic, owing to the increased risk of infection among cardiovascular patients. Several research also suggested the efficiency of the drugs among Covid-19 infected patients. For instance, the article 'Coronavirus fulminant myocarditis treated with glucocorticoid and human immunoglobulin' published in January 2021 showed that when a case study was conducted on a Chinese male of 37 years admitted to hospital with chest pain and dyspnoea for 3 days, accompanied by diarrhea, the patient chest computed tomography (CT) examination indicated pulmonary infection, enlarged heart, and pleural effusion, while the electrocardiogram (ECG) suspected ST-segment elevation acute myocardial infarction, which led to a better diagnosis of the patient. Such research during the pandemic is anticipated to generate demand for structural heart devices, used for patient survival. Thus, the pandemic is anticipated to show a considerable impact on the market studied.

Factors such as increasing cardiovascular diseases, rapid technological advances, growing public awareness, and government initiatives related to cardiovascular diseases globally are expected to positively impact the market growth.

The rising prevalence of cardiovascular diseases (CVDs) globally, growing research and development (R&D) and investments in efficient drug development, and increasing availability of reimbursement policies are the major factors that contribute to the market growth. For instance, the 'UK Factsheet January 2022' published by 'British Heart Foundation (BHF)' shows that around 7.6 million people are living with heart and circulatory diseases in the United Kingdom. Additionally, as per the source above, nearly 4 million males and 3.6 million females were diagnosed with heart and circulatory diseases in the country in 2021. This high prevalent heart and circulatory disease patients generate demand for more treatment procedures such as angioplasty and heart surgeries for patient survival. Thereby creating opportunities for structural devices such as heart valves, and annuloplasty rings globally. Therefore, the burden of heart diseases across the globe is expected to fuel the market growth during the analysis period.

Furthermore, the development activities by the market players in the form of product launches, acquisitions, mergers, and investments are also expected to enhance the market growth. For instance, in August 2021, CORCYM enrolled the first patient in MANTRA (Mitral, Aortic aNd Tricuspid post-maRket Study in a reAl-world setting) study. The first patient was implanted in Italy, at Citta di Lecce Hospital with a Bicarbon aortic mechanical valve. Such advancements are expected to drive the market to grow in the future.

Therefore, owing to the above-mentioned factors the market studied is expected to grow over the forecast period. However, less accessibility to new technology in the emerging markets and irregular reimbursement scenarios are the factors that are anticipated to hinder the market growth.

Structural Heart Devices Industry Segmentation

As per the scope of this report, structural heart disease is a non-coronary defect of the heart, thus not affecting the blood vessels in the heart. Most of the structural heart conditions are present since birth (congenital), but these can also be acquired later in life, owing to wear & tear from infection. Advancements in the medical field have replaced open heart surgical procedures with minimally invasive procedures. The Structural Heart Devices Market is segmented by Product (Heart Valve Devices, Occluders & Delivery Systems, Annuloplasty Rings and Other Products), Procedure (Replacement Procedures and Repair Procedures), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.