The global structural heart devices market size was estimated to be USD 6.93 billion in 2023 and is expected to reach at USD 18.77 billion by 2034 with a CAGR of 9.48% during the forecast period 2024-2034. Growing prevalence of cardiovascular diseases, rising government initiatives related to cardiovascular diseases, surge in research & development (R&D) activities, increasing technological advancements in device design & materials, growing prevalence of structural heart diseases such as heart valve defects & atrial septal defects, rising demand for minimally invasive procedures, and surge in launch of technologically advanced solutions for structural heart disease are some of the key factors boosting the market growth.
Surge in launch of technologically advanced solutions for structural heart disease is predicted to boost the market growth during the forecast period. A structural heart disease is a heart condition unrelated to problems in the heart's blood vessels, often characterized by defects in the heart's structure. While many of these structural heart conditions are present from birth (congenital), they can also develop later in life due to damage caused by infections. Advances in the medical field have replaced the need for open-heart surgeries with minimally invasive procedures. For instance, in May 2022, Philips has introduced EchoNavigator 4.0, an upgraded version of its image-guided therapy tool designed for addressing structural heart disease. With EchoNavigator 4.0, users of Philips' interventional cardiology ultrasound system, EPIQ CVXi, gain the ability to manage live fusion imaging through the company's Image Guided Therapy System, known as the "Azurion" platform.
By product, heart valve devices was the highest revenue-grossing segment in the global structural heart devices market in 2023 owing to rising prevalence of cardiovascular diseases, surge in launch of new drugs, and growing product approvals by regulatory bodies. For instance, in January 2023, Abbott has received approval from the U.S. Food and Drug Administration (FDA) for its most recent iteration of the transcatheter aortic valve implantation (TAVI) system, Navitor. This approval allows for the use of Navitor in the treatment of individuals suffering from severe aortic stenosis, particularly those considered at high or extremely high risk for traditional open-heart surgery. Additionally, occluders & delivery systems is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of structural heart diseases and rising technological developments in medical sciences.
By procedure, repair procedure was the highest revenue-grossing segment in the global structural heart devices market in 2023 owing to increasing adoption of minimally invasive surgical procedures, growing improvements in device technology such as safety & efficiency, and rising launch of advanced devices. For instance, in September 2022, Abbott has shared significant findings from five late-breaking presentations highlighting the advantages of their minimally invasive medical instruments in addressing various structural heart conditions. These data include results that underscore the effectiveness of MitraClip, which is the pioneering and foremost transcatheter edge-to-edge repair (TEER) device globally, for the treatment of leaky heart valves in individuals with mitral regurgitation (MR). Additionally, replacement procedure is predicted to grow at fastest CAGR during the forecast period owing to the expanding research & development initiatives to advance valve replacement technologies, surge in number of valve replacement surgeries, and growing demand for new structural cardiac implants.
By indication, aortic valvular disease was the highest revenue-grossing segment in the global structural heart devices market in 2023 owing to the rising prevalence of aortic valvular disease, surge in technological advancements, and increasing focus on development of advanced solutions. Additionally, pulmonary valvular disease is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of pulmonary valvular disease, increasing minimally invasive procedures, and rising launch of advanced systems. For instance, in February 2023, Medtronic has reintroduced its Harmony Transcatheter Pulmonary Valve (TPV) System, providing a less invasive option compared to open-heart surgery for patients with congenital heart disease who have issues with the native or surgically repaired right ventricular outflow tract (RVOT).
By end-user, hospitals was the highest revenue-grossing segment in the global structural heart devices market in 2023 owing to the greatest possible patient care is provided by these cutting-edge medical facilities, the accessibility of high-end surgical equipment, the presence of surgery specialists, and reimbursement facilities, and surge in research & development activities. For instance, in November 2022, Boston Scientific Corporation has published initial outcomes from the ACURATE ne02 Post Market Clinical Follow-up (PMCF) investigation, assessing the performance of the ACURATE ne02TM Aortic Valve System. These results, presented at a late-breaking clinical trial session during PCR London Valves 2022, reveal a robust procedural success rate of 98.4% as well as low mortality rates and minimal instances of paravalvular leak (PVL). Additionally, ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to the rising adoption of advanced technologies, growing technological advancements, and increasing patient preference.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising healthcare expenditure, increasing prevalence of cardiovascular disorders, and growing research & development activities. For example, in May 2022, Centerline Biomedical, Inc. has concluded the second instalment of a sequence of animal studies focusing on structural heart navigation. Medical professionals from the Heart, Vascular, and Thoracic Institute at the Cleveland Clinic assessed the viability of using the company's 3D-GNC (guidance, navigation, and control) technology, which incorporates augmented reality image guidance, to navigate within the moving heart. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of cardiac valve ailments & structural anomalies, surge in geriatric population, rising demands for the technologically advanced devices for treatment of cardiovascular devices, growing demand for minimally invasive procedures, increasing focus on development of innovative products, surge in number of heart surgeries. For instance, in September 2022, The medical team at the Guangzhou Women and Children's Medical Center has achieved a successful Memosorb implantation for a child born with congenital heart disease. This milestone in South China signifies a crucial advancement in the clinical use of this occluder, reaffirming the safety and effectiveness of Memosorb in treating congenital heart disease through interventional procedures.
Surge in launch of technologically advanced solutions for structural heart disease is predicted to boost the market growth during the forecast period. A structural heart disease is a heart condition unrelated to problems in the heart's blood vessels, often characterized by defects in the heart's structure. While many of these structural heart conditions are present from birth (congenital), they can also develop later in life due to damage caused by infections. Advances in the medical field have replaced the need for open-heart surgeries with minimally invasive procedures. For instance, in May 2022, Philips has introduced EchoNavigator 4.0, an upgraded version of its image-guided therapy tool designed for addressing structural heart disease. With EchoNavigator 4.0, users of Philips' interventional cardiology ultrasound system, EPIQ CVXi, gain the ability to manage live fusion imaging through the company's Image Guided Therapy System, known as the "Azurion" platform.
By product, heart valve devices was the highest revenue-grossing segment in the global structural heart devices market in 2023 owing to rising prevalence of cardiovascular diseases, surge in launch of new drugs, and growing product approvals by regulatory bodies. For instance, in January 2023, Abbott has received approval from the U.S. Food and Drug Administration (FDA) for its most recent iteration of the transcatheter aortic valve implantation (TAVI) system, Navitor. This approval allows for the use of Navitor in the treatment of individuals suffering from severe aortic stenosis, particularly those considered at high or extremely high risk for traditional open-heart surgery. Additionally, occluders & delivery systems is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of structural heart diseases and rising technological developments in medical sciences.
By procedure, repair procedure was the highest revenue-grossing segment in the global structural heart devices market in 2023 owing to increasing adoption of minimally invasive surgical procedures, growing improvements in device technology such as safety & efficiency, and rising launch of advanced devices. For instance, in September 2022, Abbott has shared significant findings from five late-breaking presentations highlighting the advantages of their minimally invasive medical instruments in addressing various structural heart conditions. These data include results that underscore the effectiveness of MitraClip, which is the pioneering and foremost transcatheter edge-to-edge repair (TEER) device globally, for the treatment of leaky heart valves in individuals with mitral regurgitation (MR). Additionally, replacement procedure is predicted to grow at fastest CAGR during the forecast period owing to the expanding research & development initiatives to advance valve replacement technologies, surge in number of valve replacement surgeries, and growing demand for new structural cardiac implants.
By indication, aortic valvular disease was the highest revenue-grossing segment in the global structural heart devices market in 2023 owing to the rising prevalence of aortic valvular disease, surge in technological advancements, and increasing focus on development of advanced solutions. Additionally, pulmonary valvular disease is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of pulmonary valvular disease, increasing minimally invasive procedures, and rising launch of advanced systems. For instance, in February 2023, Medtronic has reintroduced its Harmony Transcatheter Pulmonary Valve (TPV) System, providing a less invasive option compared to open-heart surgery for patients with congenital heart disease who have issues with the native or surgically repaired right ventricular outflow tract (RVOT).
By end-user, hospitals was the highest revenue-grossing segment in the global structural heart devices market in 2023 owing to the greatest possible patient care is provided by these cutting-edge medical facilities, the accessibility of high-end surgical equipment, the presence of surgery specialists, and reimbursement facilities, and surge in research & development activities. For instance, in November 2022, Boston Scientific Corporation has published initial outcomes from the ACURATE ne02 Post Market Clinical Follow-up (PMCF) investigation, assessing the performance of the ACURATE ne02TM Aortic Valve System. These results, presented at a late-breaking clinical trial session during PCR London Valves 2022, reveal a robust procedural success rate of 98.4% as well as low mortality rates and minimal instances of paravalvular leak (PVL). Additionally, ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to the rising adoption of advanced technologies, growing technological advancements, and increasing patient preference.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising healthcare expenditure, increasing prevalence of cardiovascular disorders, and growing research & development activities. For example, in May 2022, Centerline Biomedical, Inc. has concluded the second instalment of a sequence of animal studies focusing on structural heart navigation. Medical professionals from the Heart, Vascular, and Thoracic Institute at the Cleveland Clinic assessed the viability of using the company's 3D-GNC (guidance, navigation, and control) technology, which incorporates augmented reality image guidance, to navigate within the moving heart. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of cardiac valve ailments & structural anomalies, surge in geriatric population, rising demands for the technologically advanced devices for treatment of cardiovascular devices, growing demand for minimally invasive procedures, increasing focus on development of innovative products, surge in number of heart surgeries. For instance, in September 2022, The medical team at the Guangzhou Women and Children's Medical Center has achieved a successful Memosorb implantation for a child born with congenital heart disease. This milestone in South China signifies a crucial advancement in the clinical use of this occluder, reaffirming the safety and effectiveness of Memosorb in treating congenital heart disease through interventional procedures.
Segmentation: Structural Heart Devices Market Report 2022 - 2033
Structural Heart Devices Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Occluders & Delivery Systems
- Annuloplasty Rings
- Heart Valve Devices
- Other
Structural Heart Devices Market Analysis & Forecast by Procedure 2023 - 2034 (Revenue USD Bn)
- Repair Procedure
- Left Atrial Appendage Closure (LAAC)
- Mitral Repair
- Replacement Procedure
- Transcatheter Aortic Valve Replacement (TAVR)
- Surgical Aortic Valve Replacement (SAVR)))
Structural Heart Devices Market Analysis & Forecast by Indication 2023 - 2034 (Revenue USD Bn)
- Pulmonary Valvular Disease
- Atrial Septal Defects
- Patent Foramen Ovale
- Mitral Valvular Disease
- Aortic Valvular Disease
- Patent Ductus Arteriosus
- Ventricular Septal Defects
- Others
Structural Heart Devices Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Cardiac Centers
- Ambulatory Surgical Centers
Structural Heart Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Structural Heart Devices Market: Product Estimates & Trend Analysis
8. Structural Heart Devices Market: Procedure Estimates & Trend Analysis
9. Structural Heart Devices Market: Indication Estimates & Trend Analysis
10. Structural Heart Devices Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Structural Heart Devices Market
13. Europe Global Structural Heart Devices Market
14. Asia Pacific Global Structural Heart Devices Market
15. Latin America Global Structural Heart Devices Market
16. MEA Global Structural Heart Devices Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Abbott Laboratories
- Medical Technology Est.
- Biomerics
- Comed BV
- CardioKinetix
- Edwards Lifesciences Corporation
- Cryolife Inc.
- Medtronic plc
- Braile Biomedica
- Micro Interventional Devices Inc.
- Boston Scientific Corporation
- LivaNova PLC
- St. Jude Medical Inc.
- JenaValve Technology Inc.
- ST. JUDE MEDICAL
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 6.93 Billion |
| Forecasted Market Value ( USD | $ 18.77 Billion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
