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%
LONDON, Sept. 13, 2018 /PRNewswire/ -- The structural heart devices market is projected to register a CAGR of 10.2% during the forecast period.
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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.
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.
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).
Research Coverage:
The report analyzes the structural heart devices market and aims at estimating the market size and the future growth potential of this market based on various segments (such as product, procedure, and region). The report also includes an in-depth regulatory analysis for various regions across the globe and the competitive analysis of the key players in this market along with their company profiles, recent developments, and key strategies adopted by them to remain competitive in the market.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater share. Firms purchasing the report could use any one or a combination of the below-mentioned strategies.
This report provides insights on the following pointers:
-- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global structural heart devices market. The report analyzes the global structural heart devices market, by product, procedure, and region.
-- Product Enhancement/Innovation: Detailed insights on the upcoming trends and new product launches in the global structural heart devices market
-- Market Development: Comprehensive information on the lucrative emerging markets, by product, procedure, and region
-- Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the global structural heart devices market
-- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and capabilities of leading players in the global structural heart devices market
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