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Structural Heart Devices Market Trends

Report ID: GMI3231
Published Date: Feb 2024
Report Format: PDF

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Structural Heart Devices Market Trends

Technological advancements have led to the development of high-efficiency structural heart devices. These innovations enable more effective replacement and repair of procedural devices.

Advancements in transcatheter approaches, such as transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR), have revolutionized structural heart interventions. These minimally invasive procedures reduce the need for open-heart surgery, offering quicker recovery times and lower procedural risks.
For instance, in January 2023, the U.S. Food and Drug Administration (FDA) provided the approval to market to The Edwards Lifesciences PASCAL Precision Transcatheter Valve Repair System. TMVR procedures have been shown to reduce mitral regurgitation (MR), improve symptoms, and lower hospitalization rates in patients with moderate to severe MR who are at prohibitive or high risk of surgery.
Moreover, significant advancements in transcatheter valve technologies, particularly in transcatheter tricuspid valve replacement (TTVR), are reshaping the landscape of structural heart interventions. For instance, in April 2020, Abbott announced that its TriClip transcatheter tricuspid valve repair system had received CE Mark and is now approved for use in Europe. The TriClip device functions by employing a clipping mechanism. During the procedure, a portion of the tricuspid valve leaflets is clipped together.

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

Structural heart devices industry size was USD 11.3 billion in 2023 and is expected to register 8.8% CAGR from 2024-2032 owing to the growing burden of cardiovascular diseases, favorable reimbursement scenarios and the rising preference for minimally invasive procedures worldwide.

The heart valve devices segment recorded over USD 4.7 billion in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to the high incidence of heart diseases necessitating widespread adoption of devices.

North America structural heart devices industry reached USD 3.8 billion in 2023 and is expected to register a commendable CAGR from 2024-2032 due to the presence of a sophisticated healthcare infrastructure, coupled with high healthcare expenditure in the region.

AtriCure, Inc., Biomerics, LLC, Boston Scientific Corporation, Braile Biomedica, Cryolife Inc., Edwards Lifesciences Corporation, JenaValve Technology, Inc., Lepu Medical Technology (Beijing) Co., Ltd., and LivaNova PLC are some of the major structural heart devices companies worldwide.