Structural Heart Devices Market by Type (Surgical Aortic Valve Replacement, Transcatheter Aortic Valve Replacement, Mitral Repair, Left Atrial Appendage Closure), Regional Outlook - Global Forecast up to 2030

The size of the worldwide market for structural heart devices was confirmed using both top-down and bottom-up methodologies, and the sizes of various dependent submarkets were estimated. To identify and gather data for the study of this market, a variety of secondary sources have been used, including databases, industry journals, annual reports of the companies, and associations such as the World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), American Heart Association (AHA), Structural Heart Disease Australia (SHDA), Cardiovascular Research Foundation (CRF), Heart Research Institute (HRI), Diagnostic and Interventional Cardiology (DAIC), European Society of Cardiology (ESC), and American College of Cardiology (ACC). Experts from the supply and demand sides have been interviewed as primary sources in order to gather and verify information and evaluate the structural dynamics of the heart device sector.

Research Methodology:

After secondary research provided a fundamental understanding of the worldwide Structural Heart Devices Market scenario, extensive primary research was carried out. A number of primary interviews were carried out with industry experts from the supply and demand sides, including C- and D-level executives, product managers, and marketing and sales managers of major manufacturers, distributors, and channel partners from tier 1 and tier 2 companies offering Structural Heart Devices Market details, as well as personnel from academia, research, and CROs. These interviews were conducted across five major regions: North America, Europe, Asia Pacific, and the Rest of the World (Latin America & the Middle East & Africa). Participants from the supply-side and demand-side participated in about 70% and 30% of the primary interviews, respectively. Through the use of questionnaires, emails, online surveys, in-person interviews, and phone interviews, this main data was gathered. The primary participants share is given below:

Structural Heart Devices Market based on Type:

• SAVR (Surgical Aortic Valve Replacement)
• TAVR (Transcatheter Aortic Valve Replacement)
• Mitral Repair (Annuloplasty)
• LAAC (Left Atrial Appendage Closure)

Structural Heart Devices Market based on Geography:

• North America
• US
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe (RoE)
• Asia Pacific (APAC)
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific (RoAPAC)
• Latin America (LATAM)
• Brazil
• Argentina
• Rest of South America
• Middle East and Africa (MEA)
• UAE
• Turkey
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Because of its established reimbursement codes and demonstrated effectiveness in treatment procedures, the SAVR segment held a dominant revenue share of 51.8% in 2022. Surgeons favor SAVR because it offers well-defined surgical guidelines that they can refer to throughout surgeries. The market is divided into four segments based on the kind of device: mitral repair, transcatheter aortic valve replacement (TAVR), surgical aortic valve replacement (SAVR), and left atrial appendage closure (LAAC).

On the other hand, because TAVR is a minimally invasive treatment that can be used to replace a constricted aortic valve without the need for open-heart surgery, it is predicted to grow at the fastest CAGR of 10.2% over the forecast period. The need for TAVR treatments is anticipated to develop in tandem with the prevalence of aortic stenosis (AS). Furthermore, TAVR involves less physical surgery than open heart surgery. For patients who are more likely to experience complications from open-heart operations, this makes it a more appealing alternative.

Compared to prior models, the more recent TAVR devices are easier to implant, smaller, and more flexible. As a result, TAVR is now a more practical choice for more people. According to a May 2023 study that appeared in the Journal of the American College of Cardiology, after a three-year follow-up period, minimally invasive TAVR operations consistently outperformed open heart surgery in terms of clinical outcomes. The purpose of the study was to evaluate the long-term results of TAVR for patients with aortic stenosis who were enrolled in the Evolut Low Risk trial.

Due to rising healthcare spending, increased R&D, and an increase in heart disease prevalence brought on by the region's steady aging population, North America dominated the global structural heart device market and held the largest revenue share of 40.8% in 2022. Another major factor contributing to the regional supremacy is a significant demand for minimally invasive procedures.

Coronary artery bypass graft surgery (CABG) and coronary artery bypass/bypass surgery are the most common types of heart surgery, according to data released by Cedars-Sinai in January 2022. In the United States, almost 300,000 people get successful bypass surgery annually. This illustrates how common cardiovascular diseases are becoming across the country.

However, throughout the course of the projection period, the Asia Pacific area is expected to grow at the fastest rate, with a CAGR of 10.0%. This can be linked to rising healthcare costs, a greater understanding of heart conditions, improved newborn screening initiatives, and enhanced access to healthcare in the area. Additionally, the demand for structural heart devices in the region is anticipated to rise in the future because of the increased life expectancy and affordable cost of these goods.

The manufacturers of these devices are investigating this area's unexplored development potential. For example, Abbott announced the launch of Navitor in India in December 2022. It is a minimally invasive transcatheter aortic valve implantation (TAVI) technique recommended for patients at high or extreme surgical risk who have severe aortic stenosis. By stopping blood from seeping around the valve, the ground-breaking gadget advances transcatheter aortic valve replacement procedures.

• This report illustrates the most vital attributes of the Structural Heart Devices Market, which are driving and providing opportunities.
• This research gives an in-depth analysis of the Structural Heart Devices Market growth on the basis of several segments in the market.
• This report presents the predictions of the past and present trends of the Structural Heart Devices Market.
• This study also presents the competitive analysis, such as key strategies and capabilities of major players of the Structural Heart Devices Market.