Structural Heart Devices Market Growth Impact and Demand by Regions
Added: (Thu Jan 03 2019)
Pressbox (Press Release) -
The structural heart devices global market has been witnessing huge scope towards structural heart deficiencies owing to growing population. The increasing prevalence of heart diseases is the primary driver of structural heart devices market. A structural heart disorder is non-coronary and doesn’t affect the heart blood vessels. Majority of the structural heart conditions are congenital in nature, however these diseases can also be acquired at a later stage on the account of wear and tear emerged from infection. Several medical advancements have exchanged the open heart surgical methods with minimal invasion. Also, the market for structural heart devices has gained more weightage in the past few years owing to the determined growth in aortic stenosis, mitral insufficiency, and other heart related diseases. There has been a remarkable rise in demand owing to the technologically convenient procedures such as transcatheter aortic valve replacement and transcatheter mitral valve repair (TAVR and TMVR respectively).
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The report takes a detailed overview of the global structural heart devices market and also discussed factors influencing the overall growth of this market. Furthermore, the report published explains the key strategies for new and existing players in the structural heart devices market in order to emerge as a profitable market in terms of revenue. The market research report talks about the competitive vendor landscape that gives a detailed description of manufacturing companies and service providers in the global structural heart devices market. It also contains profiles of key players and strategic overview of partnerships, mergers & acquisitions, product launches along with their expansion plans. The data has been collected from primary and secondary research for the study of global structural heart devices market. The data highlighted has been taken from various secondary sources such as annual reports, news articles, journals, company website, press releases, investor presentations, and financial reports. The primary data has been collected from opinion leaders who are experts in different healthcare facilities.
The global structural heart devices market is positively impacted by various growth factors. The demand for this market has increased globally on the back of increasing number of patients with structural heart disorders. With the growing awareness regarding structural heart disorders and increasing prevalence on regulatory approvals for adopting advanced structural heart devices are estimated to surge the growth of global structural heart devices market from 2018-2023. Furthermore, rising technological developments such as improved heart tissue valves are going to increase the lifespan of patients. Further, with the arrival of tissue valves deployed in TAVR, the life of patients mainly suffering from aortic insufficiency has improved in terms of their quality. Innovations in technology have resulted in enhancing treatment patterns of heart-related diseases, thus reducing the burden of heart disorders. While performing surgeries such as open heart surgery, there is a minimal involvement of invasion in the patient’s body. In order to treat structural heart disorders, several replacements such as aortic valve, prosthetic heart valve, and mitral valve techniques which are negligibly invasive are extensively used by professionals in cardiology. Therefore, all the above mentioned factors and drivers are anticipated to surge the demand for global structural heart devices market in the forecast period.
On the other hand, high cost and risk involved in performing the procedures are some of the primary challenges faced by structural heart devices market. In emerging countries, the adoption of technologically improved structural heart equipment is low as these devices are highly expensive than the conventional devices. Also, approval process in case of structural heart devices are strict in some of the countries as these devices are highly specialized in nature. Furthermore, the entire approval process is time consuming and needs high amount of investment.
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The global market for structural heart devices is geographically segmented into regions such as Europe, North America, Asia Pacific, and MEA. Of these, North America is predicted to dominate and account for the majority of market share in the next coming years. Factors which include rising technological improvements, development of innovation equipment, and growing frequency for structural heart disorders are influencing the growth of structural heart devices market in this region. Asia Pacific is also anticipated to grow in the subsequent years owing to the rise in geriatric population, increase in regulatory approvals, rising healthcare cost, and better insurance schemes.
Some of the prominent players operating in the global structural heart devices market include dental sterilization market include Boston Scientific Corp. (US), Medtronic plc (Ireland).
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