The global structural heart devices market is expected to reach USD 9.1
billion by 2025, based on a new report by Grand View Research, Inc. The market
is expected to witness an exponential growth over the next 8 years due to the
rapid increase in cardiovascular conditions and increasing power of healthcare
expenditure.
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U.S. structural heart devices market by type, 2014 - 2025 (USD Million)
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The defects are mostly present at birth, thereby directly affecting the
under-5 mortality rate of a country. Therefore, rigorous actions are being
undertaken by various government bodies across the globe to increase access to
treatment. The Centers for Disease Control and Prevention have a public action
plan to efficient management of cardiac conditions.
In addition, other organizations are working on improving the scenario
for structural heart diseases treatment. For instance, in November 2016, the
Cardiovascular Research Foundation (CRF) announced a launch of a journal
focusing on diagnosis and treatment of structural heart defects. It was titled
Structural Heart: The Journal of the Heart Team and is expected to be launched
in May 2017. This is expected to trigger research & development activities
along with capital invested in this field, resulting in technological
advancements
.
In depth research report on Structural Heart
Devices Market
Further key findings from the study suggest:
·
Surgical
Aortic Valve Replacement (SAVR) dominated the market in 2016, closely followed
by Transcatheter Aortic Valve Replacement (TAVR). It can be attributed to the
longest presence of the technique in the treatment regimen of aortic stenosis
·
Left Atrial
Appendage Closure (LAAC) is anticipated to be one of the fastest growing
segment owing to the minimally invasive nature of the procedure. It also helps
in reduction of risk of stroke, thus is projected to have a higher demand
·
Geographically,
North America held the largest market share in 2016 and is expected to maintain
its position during the forecast period. High prevalence of cognitive heart
diseases is the key reason for this dominance. Moreover, the mandatory CCHD
screening for newborns imposed by the Centers for Disease Control and
Prevention (CDC) and American Academy of Pediatrics (AAP) in September 2014
also contributes to the growth in this region
·
Asia Pacific
is also expected to witness a rapid growth over the forecast period. The
improved access and capability for treatments in this region is the key reason
for this growth
·
Some of the
key players are Medtronic, ST. JUDE MEDICAL, Boston Scientific Corporation,
CardioKinetix, Comed BV, Edwards Lifesciences Corporation, LivaNova PLC, Abbott
Laboratories, JenaValve Technology, Inc., and Biomerics
Grand View Research has segmented the structural heart devices market by
type and region:
Type Outlook (Market Revenue in USD Million,
2014 - 2025)
·
SAVR
·
TAVR
·
Mitral Repair
(Annuloplasty)
·
LAAC
Regional Outlook (Market Revenue in USD
Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
Middle East
and Africa
o
South Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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