Structural Heart Market Size, Share, Industry Trends And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Structural Heart Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The structural heart market size has grown strongly in recent years. It will grow from $14.13 billion in 2023 to $15.3 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased awareness and screening, supply chain resilience, increasing healthcare expenditure, market concentration, increasing awareness of cardiovascular diseases..

The structural heart market size is expected to see strong growth in the next few years. It will grow to $20.69 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to demand for heart valve devices, aging population, growing burden of cardiovascular diseases, market segmentation, regional market growth.. Major trends in the forecast period include product launches, technological advancements, economic recovery, regulatory impositions, rising incidences of cardiovascular diseases, innovative medical devices..

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Market Drivers and Trends:

The rising prevalence of cardiovascular disorders is expected to propel the growth of the structural heart market going forward. Cardiovascular disorders are diseases that affect the heart and blood vessels and include conditions such as coronary artery disease, heart failure, and stroke. The rising prevalence of cardiovascular disorders is mostly driven by the aging population, changes in lifestyle and diet, and increasing rates of obesity and diabetes. Structural heart devices and services offer diagnosis and treatment of structural heart anomalies or disorders that affect the valves, chambers, and surrounding tissues using minimally invasive procedures performed rather than open-heart surgery for efficient treatment with lower-risk complications. For instance, in August 2022, according to a report published by the American College of Cardiology, a US-based non-profit medical association, In the United States, it is anticipated that all four cardiovascular risk factors will increase between 2025 and 2060. The largest percentage rise is expected in diabetes, with a 39.3% increase to 55 million individuals, followed by dyslipidemia (27.6% to 126 million), hypertension (25.1% to 162 million), and obesity (18.3% to 126 million). The researchers also observed that the most substantial projected increases in cardiovascular disease rates were for stroke (33.8% to 15 million) and heart failure (33.4% to 13 million), followed by ischemic heart disease (30.7% to 29 million) and heart attack (16.9% to 16 million). Therefore, the rising prevalence of cardiovascular disorders is driving the growth of the structural heart market.

Technological advancement has emerged as a key trend gaining popularity in the structural heart market. Major market players operating in structural heart are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in February 2023, Eko Health, a US-based digital health company, launched the SENSORA cardiac disease detection platform for non-invasive heart disease detection to primary care. SENSORA features artificial intelligence that objectively identifies structural murmurs, a sign of valvular heart disease, and care pathway analytics software that provides downstream visibility and metrics of the patient journey through the healthcare system by capturing and analyzing heart sounds and electrical signals with its digital stethoscopes. It is intended to aid in key decision-making by detecting care gaps that may be translated into enhanced operational efficiency, such as reduced delays in care delivery, length of stay, and readmission rates, while also enhancing patient and physician satisfaction.

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Major Key Players of the Market:

Abbott Laboratories, Comed BV, Medtronic plc, Labcor Laboratórios Ltda., Boston Scientific Corporation, Edwards Lifesciences Corporation, Trane Technologies, Lepu Medical Technology Co. Ltd., LivaNova PLC, Biomerics LLC, Venus Medtech (Hangzhou) Inc., Cryolife Inc., Endologix Inc., Shockwave Medica Inc., Braile Biomédica, JenaValve Technology Inc., Corvia Medical Inc, HLT Medical, On-X Life Technologies Inc., Symetis SA, Magenta Therapeutics, PASCAL Medical, Micro Interventional Devices Inc., CardioKinetix Inc, XELTIS BV, Tendyne Holdings Inc., Q'Apel Medical Inc., Neovasc Inc., NVT AG, XpandOrtho Inc., Z-Medical GmbH + Co. KG

Structural Heart Market 2024 Key Insights:

• The structural heart market size is expected to see strong growth in the next few years. It will grow to $20.69 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Surging Prevalence Of Cardiovascular Disorders Driving Growth In The Structural Heart Market
• Technological Advancements Drive The Structural Heart Market
• North America was the largest region in the structural heart market in 2023

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