[Research Report] The structural heart market was valued at US$ 14,245.55 million in 2022 and is expected to reach US$ 22,560.88 million by 2028; it is estimated to record a CAGR of 8.0% from 2022 to 2028.
The structural heart market is segmented on the basis of product, procedure, end user, and geography. The report offers insights and in-depth analysis of the market, emphasizing various parameters such as dynamics, trends, and opportunities of the market and competitive landscape analysis of leading market players across various regions. It also includes an analysis of the impact of the COVID-19 pandemic on the market across the regions.
Structural Heart Market, Market Insights
Rising Number of Cardiovascular Disease Cases and Training Programs Drive Structural Heart Market
According to the World Health Organization (WHO), cardiovascular diseases are the second leading cause of death worldwide. Therefore, various initiatives are being taken to control the incidence of cardiovascular diseases. Heart valve disease is one of the most common causes of heart failure. Degenerative diseases of aortic and mitral valves and diseases of dysfunctional tricuspid valves lead to a worse clinical course in severe cases. Minimally invasive, surgical, and catheter-based interventions for structural heart disease have increased dramatically recently. The UK Factsheet January 2022, published by the British Heart Foundation (BHF), shows that ~7.6 million people with cardiovascular diseases live in the UK. According to the same source, ~4 million men and ~3.6 million women were diagnosed with heart and circulatory diseases in the country in 2021. Owing to the high incidence of cardiovascular disease, there is a high demand for treatment procedures such as angioplasty and cardiac surgery for survival, which creates opportunities for companies to provide structural heart valves and annuloplasty rings, among other devices.
The structural heart is an evolving field consisting of heart valve surgeries and transcatheter procedures; therefore, various training programs are being arranged for cardiac surgeons and physicians. Over the past decade, the growing incidence of structural heart disease has necessitated the development of formal training programs to ensure the appropriate competency of workforces. The structure, length, and scope of training vary greatly between programs. Most programs provide effective training on transcatheter aortic valve replacement (TAVR) procedures, simultaneously providing a lesser and variable experience of atrial septal or ventricular septal defect closure and left atrial appendage closure interventions. With the advent of TAVR, the MitraClip mitral valve repair system (Abbott Vascular), and left atrial appendage occlusion (LAAO) procedures, there has been a significant increase in the volume of structural cardiac procedures performed for treating patients with complex cardiovascular conditions. Many organizations have developed services and procedural offerings in an organized format for the structural cardiac program to accommodate the influx of patients. Training in SHD is exciting, challenging, and rewarding overall. As the field evolves, standardization of SHD training becomes extremely important to ensure the best quality of patient care. A mentor can help navigate the numerous considerations outlined and can be the best asset to transition from training to practice successfully.
Following is the list of the training programs available in the US for the structural heart procedures:
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Structural Heart Market: Strategic Insights
Market Size Value in US$ 14,245.55 million in 2022 Market Size Value by US$ 22,560.88 million by 2028 Growth rate CAGR of 8.0% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Structural Heart Market: Strategic Insights
| Market Size Value in | US$ 14,245.55 million in 2022 |
| Market Size Value by | US$ 22,560.88 million by 2028 |
| Growth rate | CAGR of 8.0% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Structural Heart Training Programs in the US
Sr. No | Program | State |
1 | University of Washington Program Swedish Medical Center in Seattle, WA | Washington |
2 | Main Line Health System/Lankenau Medical Center Program Thomas Jefferson University Hospital | Pennsylvania |
3 | New York Presbyterian Hospital (Columbia Campus) Program NYU School of Medicine Langone Medical Center Icahn School of Medicine at Mount Sinai Lenox Hill Heart and Vascular Institute-Northwell Health Montefiore Medical Center The University at Buffalo – State University of New York | New York |
4 | Duke University Hospital Program UNC Medical Center Program | North Carolina |
5 | Rutgers Robert Wood Johnson Medical School - New Brunswick, New Jersey Structural and Congenital Heart Disease Fellowship Program at Hackensack University Medical Center and Joseph M Sanzari Children’s Hospital Hackensack University Medical Center | New Jersey |
6 | Scripps Clinic/Scripps Green Hospital Program Sharp Healthcare Advanced Interventional and Structural Heart Fellowship University of California, Davis, Health Program University of California, San Diego University of California, San Francisco | California |
7 | University of Maryland Program Johns Hopkins University Program | Maryland |
8 | William Beaumont Hospital Program Detroit Medical Center/Wayne State University Program Henry Ford Hospital/Wayne State University Program Ascension Borgess—Michigan State University Program Michigan Medicine—The University of Michigan Program | Michigan |
9 | Emory University Program | Georgia |
10 | Banner-University Medical Center Phoenix Program Tucson Medical Center/THMEP | Arizona |
Source: The Society for Cardiovascular Angiography and Interventions (SCAI)
Therefore, the burgeoning number of cardiovascular disease cases and training programs on structural heart are fueling the structural heart market growth.
Product-Based Insights
Based on product, the structural heart market is segmented into occluders, annuloplasty rings, heart valve balloons, and others. In 2022, the occluders segment held the largest share of the structural heart market; however, the annuloplasty rings segment is anticipated to register the highest CAGR during the forecast period. Occluders are one of the most commonly used products owing to the rising prevalence of congenital heart defects such as atrial septum defect, ventricular septum defect, patent ductus arteriosus, and patent foramen ovale. Occluders help in the treatment of congenital heart defects through minimally invasive procedures, which provide easy treatment options and speedy recovery to the patients.
Structural Heart Market, by Product – 2022–2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Structural Heart Market, By Procedure-Based Insights
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Based on procedure, the structural heart market is segmented into heart valve stenosis, heart valve replacement, and left atrial appendage closure. In 2022, the aortic valve stenosis segment held the largest market share of the structural heart market. However, the left atrial appendage closure segment is anticipated to register the highest CAGR during the forecast period.
Structural Heart Market, By End User-Based Insights
Based on end user, the structural heart market is segmented into hospitals, ambulatory surgical centers, and cardiac centers. The hospitals segment held the largest share of the structural heart market in 2022 and is expected to record the highest CAGR during the forecast period.
The structural heart market players adopt organic strategies, such as product launch and expansion, to expand their footprint and product portfolio across the world and meet the growing demand. Inorganic growth strategies witnessed in the market are partnerships and collaborations. These growth strategies have allowed the market players to expand their businesses and enhance their geographic presence. Additionally, acquisitions, partnerships, and other growth strategies help strengthen the company’s customer base and increase its product portfolio.
- In February 2023, Medtronic relaunched its Harmony Transcatheter Pulmonary Valve (TPV) System, a minimally invasive alternative to open-heart surgery for congenital heart disease patients with native or surgically repaired right ventricular outflow tract (RVOT).
- In November 2022, Boston Scientific Corporation released the first results from the ACURATE neo2 Post Market Clinical Follow-up (PMCF) study evaluating the performance of the ACURATE neo2TM Aortic Valve System. The findings, which included a high procedural success rate of 98.4% and low mortality rates and paravalvular leak (PVL), were presented during a late-breaking clinical trial session at PCR London Valves 2022.
- In October 2022, The Guangzhou Women and Children's Medical Center team successfully implanted Memosorb for a child with congenital heart disease. The successful completion of this operation marks the clinical application of the occluder has taken an essential step in South China, which once again confirms the safety and effectiveness of the Memosorb in the interventional treatment of congenital heart disease.
Structural Heart Market, Company Profiles
- Abbott Laboratories
- Medtronic Plc
- Boston Scientific Corp
- Artivion Inc.
- Edwards Lifesciences Corp
- Lepu Medical Technology Beijing Co Ltd
- Braile Biomédica Industry
- Commerce and Representations Ltd
- Aran Biomedical Teoranta
- Micro Interventional Devices Inc
- Corcym UK Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Procedure, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Structural heart disease is a non-coronary defect of the heart, thus not affecting the blood vessels in the heart. Most structural heart conditions are present since birth (congenital), but these can also be acquired later in life owing to wear & tear from infection. Advancements in the medical field have replaced open-heart surgical procedures with minimally invasive procedures. The devices that are used in structural heart disease comprise replacement and repair devices, such as devices that are used for the treatment of heart-related diseases. Structural heart devices comprise annuloplasty rings and heart valve balloons occluders, among others.
The structural heart market is expected to be valued at US$ 22,560.88 million in 2028.
The structural heart market was valued at US$ 14,245.55 million in 2022.
The structural heart market majorly consists of the players, such as Abbott Laboratories, Medtronic Plc, Boston Scientific Corp, Artivion Inc., Edwards Lifesciences Corp, Lepu Medical Technology Beijing Co Ltd, Braile Biomédica Industry, Commerce and Representations Ltd, Aran Biomedical Teoranta, Micro Interventional Devices Inc, Corcym UK Ltd.
The factors driving the structural heart market growth, includes innovative structural heart services, and a rise in the number of cardiovascular procedures and corresponding training programs boost the market growth.
The market is estimated to grow at a CAGR of 8.0% during the forecast period.
The structural heart market, by product, is segmented into occluders, annuloplasty rings, heart valve balloons, and others. The occluders segment held the largest market share in 2022, however, annuloplasty rings is anticipated to register the highest CAGR in the market during the forecast period.
The List of Companies - Structural Heart Market
- ABBOTT
- MEDTRONIC
- BOSTON SCIENTIFIC CORPORATION
- CRYOLIFE, INC
- EDWARD LIFESCIENCES CORPORATION
- LEPU MEDICAL
- BRAILE BIOMEDICA
- ARAN BIOMEDICAL TEORANTA
- Micro Interventional Devices, Incorporated
- CORCYM
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
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- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
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- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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