chnology Development of New Inventions in Medical Industry Driving Structural Heart Devices Market to Reach $12,076 million by 2022

Rise in incidence of aortic stenosis, introduction of technologically advanced products (such as the Trifecta valve with Glide Technology), and increase in awareness about the benefits and availability of structural heart devices worldwide are major factors that drive the market growth. In addition, increase in number of application areas for repair and replacement devices coupled with its rise in adoption of annuloplasty rings and tissue valves is expected to further fuel this growth. However, stringent approval process and high cost of surgeries restrict the market growth.

Structural Heart Devices Market Report, published by Allied Market Research, forecasts that the global market was valued at $6,006 million in 2015, and is expected to reach $12,076 million by 2022, supported by a CAGR of 10.5% during the forecast period 2016 - 2022. The structural heart repair devices segment held nearly half of the total market share in 2015, and is expected to dominate during the forecast period.

Tissue heart valves is expected to maintain its dominant position throughout the analysis period, due to its significant property of low requirement of anticoagulants, which reduces incidence of bleeding and thereby lowers the usage of anticoagulant by the patient.

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The occluders segment accounted for two-fifths of the overall structural heart repair devices market in 2015, owing to its benefits in the treatment of congenital heart diseases and high adoption rate. In addition, annuloplasty ring is projected to register the highest CAGR of 13.3% during the forecast period.

Globally, aortic stenosis is the most common type of structural heart defect leading to death. According to WHO, the elderly population of over 60 years of age is estimated to increase from 12% of total population in 2015 to around 22% by 2050. This projected increase in geriatric population, with increased risk of structural heart defects such as aortic stenosis or mitral valve regurgitation, is expected to provide opportunities to medical device companies specialized in treatment of structural heart defects.
Asia-Pacific is the fastest growing region in the structural heart devices market, and is expected to continue this trend due to increase in healthcare infrastructural development, specifically in China, India, and other developing economies, and rise in structural heart defects.

Key Findings of Structural Heart Devices Market:

• Annuloplasty ring is projected to grow at the highest growth rate during the analysis period.
• North America dominated the global structural heart devices market, accounting for one-third of the overall market in 2015, owing to the increase in prevalence of structural heart diseases.
• Aortic valve stenosis indication occupied more than one-third of the total market in 2015.
• Adult age group segment is expected to grow at the highest rate of 11.1%.
• China occupied one-fifth of the total Asia-Pacific structural heart devices market in 2015.

The major companies profiled in the report include Medtronic plc; St. Jude Medical, Inc., Braile Biomedica; Medical Technology Est., Boston Scientific Corporation, Micro Interventional Devices, Inc., Edwards Lifesciences Corporation, LivaNova PLC, JenaValve Technology, Inc., and Cryolife, Inc.

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