Structural Heart Devices Market Analysis

Based on product, the market is categorized into heart valve devices, annuloplasty rings, occluders & delivery systems, and other products. The heart valve devices segment accounted for the majority share and was valued at over USD 4.7 billion in revenue in 2023.

• Heart valve diseases such as calcific aortic valve disease and rheumatic heart disease globally, are prevalent conditions worldwide, affecting millions of individuals. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2019, 2.5% of Americans were estimated to have heart valve diseases. Additionally, each year there are nearly 25,000 deaths in the U.S. due to heart valve diseases. The high incidence of these diseases necessitates the widespread adoption of heart valve devices for their management.

   

• Additionally, continuous innovation in heart valve technologies has led to the development of advanced cardiovascular devices that offer improved durability, functionality, and compatibility. Transcatheter heart valves replacement have witnessed significant technological advancements, allowing for minimally invasive procedures with enhanced outcomes.

   

Based on procedure, the structural heart devices market is segmented into replacement procedures and repair procedures. The replacement procedures segment held the leading revenue share in 2023 and is anticipated to reach USD 14.2 billion by 2032.

• The adoption of minimally invasive procedures, exemplified by transcatheter heart valve replacement, has significantly influenced the replacement procedures segment. Patients increasingly prefer these less invasive approaches due to shorter recovery times and reduced postoperative complications.

   

• In addition, the incorporation of robotics in cardiac surgeries, allowing surgeons precise control over surgical tools, has revolutionized replacement procedures. Robotic-assisted heart surgery enhances precision and maneuverability during interventions, influencing the preference for replacement treatments.

   

• Moreover, replacement procedures, supported by advancements in device design and procedural techniques, offer favorable clinical outcomes. The focus on improved patient safety reduced hospitalization durations, and enhanced quality of life further solidifies the dominance of the replacement procedures segment.

Based on end-use, the structural heart devices market is categorized into hospitals, ambulatory surgical centre, cardiac catheterization labs, and other end-users. The hospital's segment accounted for the majority of revenue share and was valued at around USD 4.8 billion revenue in 2023.

• Hospitals serve as comprehensive healthcare institutions equipped with specialized interventions such as transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR), which require specialized equipment and expertise. Hospitals, particularly those with specialized cardiac care units and interventional cardiology departments, are equipped to perform these procedures.

   

• For instance, as per the article published by Cardiac Interventions Today, in 2019, about half of structural heart clinics were located in hospitals. The availability of effective and advanced cardiac prosthetic devices in hospital settings enables healthcare providers to offer innovative solutions for complex heart conditions, ultimately enhancing patient care and well-being.

   

• Additionally, the growing population and the increasing burden of disease results in a high load of patients. Hospitals, as the primary centers for cardiovascular care, handle a large volume of patients with structural heart diseases, making them the primary end-users of structural heart devices.

North America structural heart devices market accounted for USD 3.8 billion in revenue in 2023 and is predicted to witness substantial market progress. This substantial market growth is attributed to a combination of factors that contribute to the region's robust market position.

• North America boasts a sophisticated healthcare infrastructure, coupled with high healthcare expenditure, fostering a conducive environment for the adoption of advanced medical technologies. Additionally, the region exhibits a strong focus on research and development, driving technological advancements in the field of structural heart devices.

   

• Furthermore, government authorities in the region are taking initiatives to spread awareness about structural heart diseases. For instance, the South Asian Heart Health Awareness and Research Act was initiated by the government to raise awareness and comprehension of heart diseases, especially within the South Asian community in the U.S. This act includes the heart health promotion grants, establishment of a clearinghouse and web portal, support for heart health promotion activities and many of such actions to increase the awareness about the available treatment options in the region.