What is Global Structural Heart Devices Market?
The Global Structural Heart Devices Market is a vast and dynamic sector that encompasses a variety of medical devices designed to treat or replace structural heart defects. These defects, which can be congenital (present at birth) or acquired (developed later in life), can significantly impact the heart's ability to pump blood effectively. The market includes devices such as heart valves, occluders, and annuloplasty rings, among others. The value of this market was estimated at US$ 10880 million in 2023, and it is projected to grow significantly in the coming years. This growth is driven by factors such as an aging global population, increasing prevalence of heart diseases, and advancements in medical technology.
Surgical Aortic Valve Replacement, Transcatheter Aortic Valve Replacement, Mitral Repair, Left Atrial Appendage Closure in the Global Structural Heart Devices Market:
The Global Structural Heart Devices Market is segmented based on the type of procedure, including Surgical Aortic Valve Replacement (SAVR), Transcatheter Aortic Valve Replacement (TAVR), Mitral Repair, and Left Atrial Appendage Closure (LAAC). SAVR and TAVR are procedures used to treat aortic valve diseases, while Mitral Repair is used for mitral valve diseases. LAAC, on the other hand, is a procedure used to prevent stroke in patients with atrial fibrillation. Each of these procedures utilizes specific devices, contributing to the diversity and growth of the market. The choice of procedure depends on various factors such as the patient's overall health, the severity of the disease, and the expertise of the medical team.
Hospital, Clinics, Other in the Global Structural Heart Devices Market:
The devices in the Global Structural Heart Devices Market are used across various healthcare settings, including hospitals, clinics, and other medical facilities. Hospitals, being the largest and most equipped healthcare facilities, make up a significant portion of the market. These devices are used in surgical procedures to treat structural heart diseases, which are often complex and require specialized equipment and trained personnel. Clinics, although smaller in size, also contribute to the market, especially in regions where access to hospitals is limited. Other settings include ambulatory surgical centers and specialized heart centers. The use of these devices in different settings underscores their importance in the healthcare sector.
Global Structural Heart Devices Market Outlook:
Looking at the market outlook, the Global Structural Heart Devices Market is set for substantial growth. In 2023, the market was valued at US$ 10880 million. However, it is projected to almost double by 2030, reaching an estimated value of US$ 18570 million. This represents a Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period from 2024 to 2030. This growth can be attributed to several factors, including the increasing prevalence of heart diseases, advancements in medical technology, and the growing global aging population. The market's robust growth underscores the increasing demand for structural heart devices and the vital role they play in treating heart diseases.
| Report Metric | Details |
| Report Name | Structural Heart Devices Market |
| Accounted market size in 2023 | US$ 10880 million |
| Forecasted market size in 2030 | US$ 18570 million |
| CAGR | 7.8% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Medtronic, Edwards, Sorin, Abbott |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
