Structural Heart Market Set to Witness Thriving Growth Worldwide during 2020-2025
According to The Insight Partners market research study titled ‘Structural Heart Market to 2025 - Global Analysis and Forecasts by Product, Procedure and End User, the global structural heart market was valued at US$ 6,406.3 Mn in 2017 and is estimated to reach US$ 13,850.2Mn by 2025. The report highlights the trends prevalent in the global structural heart market and the factors driving the market along with the restraints that are impacting its growth.
The product segment is divided into occluders, annuloplasty rings, heart valve balloon and others. Among the product segment the occluders holds the largest market share whereas, the heart valve balloons is the fastest growing segment. The dominancy is expected to be continued by the occluders due to the advantages offered such as it reduces 50% of the meshwork material on the left atrial side and eliminates the left atrial disc microsrew it minimizes the risk of thrombus formation and damage to the distal wall of the left atrium during the implantation procedure. Also the delivery cable mechanism varies and it allows pivoting of the devices, it also have features fir the large defects and borderline length. Moreover, the devices are fully repositionable and recapturable. The market for structural heart by the product segment is expected to reach US$ 13,850.2 million by 2025 in the forecasted period. Occluders segment has the highest market share in 2017, contributing a market share of 42.0% and is expected to retain its dominance during the forecast period from 2018 to 2025 to account for a market share of 42.5% of the overall revenue generated in 2025.
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Key industry players operating in the field of structural heart across the globe include Abbott, Medtronic, Boston Scientific Corporation, CryoLife Ins, Edwards Lifesciences Corporation, LivaNova Plc, Lepu Medical, Braile Biomedica, Labcor Laboratorios Ltda, Aran biomedical Teornta among others.
The report includes the driving factors such as innovative structural heart services, clinical trials, rise in the number of cardiovascular procedure and corresponding training programs and changing lifestyle increasing disease burden. The growth opportunities in the emerging market is likely to open up additional opportunities for the market growth in coming near future. Similarly, the trend that is expected to drive the growth of the market in coming future is technological advancement.
Innovative Structural Heart Services
The rise in technological advancement has led to various innovations for the products and treatment services that enables the surgeon, physicians and other healthcare providers to provide best health to their patients. The innovations are not only limited to the healthcare facilities nevertheless they are extended to the programs that are being designed for the patients to get benefit out of the treatment facilities. Food and Drug Administration (FDA) has approved various therapies that are limited to the selected groups of the patients. There some personal healthcare provider who analyze the heart condition and available treatment of choices. For instance, Premier Health is among those providers who provides innovative structural heart services which include alcohol septal ablation which treats hypertrophic cardiomyopathy with the use of catheter-based technology, balloon valvuloplasty which uses a transcatheter approach for widening up a stiff and narrow heart valves, atrial septal defect transcatheter repair which closes an opening between the heart’s left and right atrium without surgery and such more services are being provided by the service providers.
Rise in the Number of Cardiovascular Procedure and Corresponding Training Programs
The cardiac arrest or the other heart related diseases are wide spreading incidence and are impacting severely on the public health and wellbeing. The cardiovascular disease are the second leading cause of death across the world. For instance, according to World Health Organization (WHO) approximately 17.7 million people died in 2015 due to the cardiovascular diseases, the number contributes to the 31% of the global deaths. The among these deaths it was estimated that near about 7.4 million deaths were due to coronary heart diseases and near about 6.7 million deaths were due to the heart stroke. Among the 17 million deaths the premature deaths were contributed due to non-communicable diseases in 2015, this number relates approximately to 82% were in low and middle-income countries, and approximately 37% were due to CVDs. Therefore, various strategies and initiations are being taken to control the cardiovascular diseases.
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