The structural heart market size is projected to reach US$ 28.48 billion by 2031 from US$ 14.25 billion in 2023. The market is expected to register a CAGR of 8.00% during 2023–2031. Technological advancements in structural heart devices will likely remain a key trend in the market.
Structural Heart Market Analysis
Devices and procedures used to treat structural heart diseases, such as congenital heart abnormalities, valvular heart disease, and cardiomyopathy, are included in the structural heart market. Growing aging populations, rising rates of cardiovascular conditions, and technological breakthroughs drive this market. The prominent companies in the market are Abbott Laboratories, LivaNova PLC, Edwards Lifesciences Corporation, Boston Scientific Corporation, etc. These companies concentrate on research and development, strategic acquisitions, mergers, and introducing new products to sustain and expand their market positions.
Structural Heart Market Overview
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 cardiovascular diseases. Heart valve disease is expected to be 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. The high prevalence of cardiovascular disease leads to the high demand for treatment procedures such as angioplasty and cardiac surgery for survival. This creates opportunities for companies providing structural heart valves and annuloplasty rings, among other devices.
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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 Market Drivers and Opportunities
Availability of Innovative Structural Heart Services Favors the Market Growth
The availability of technologically advanced products and treatment services allows surgeons, physicians, and other healthcare providers to offer superior services to their patients, which helps them maintain the optimum quality of life. The innovations are not limited to healthcare facilities and are extended to programs designed for patients to benefit from treatment facilities. Heart diseases are complex, and the success of their intervention depends on innovations bringing treatment options that were deemed impossible earlier into reality. The heart disease treatment landscape—from structural inventions to surgical valve therapies—has experienced breakthrough innovations over the past few decades. Companies in the structural heart market offer a broad portfolio of solutions for different heart conditions, including vascular disease, irregular heartbeats, and heart valve diseases. Physicians can now manage arrhythmias by using remote monitoring devices to keep a tab on their patients, thereby treating an array of structural heart conditions.
The Food and Drug Administration (FDA) has approved various therapies limited to the selected groups of patients. For instance, Premier Health, one of the innovative structural heart services providers, offers alcohol septal ablation treatment for hypertrophic cardiomyopathy. The therapy mainly uses a catheter-based technology. Balloon valvuloplasty uses a transcatheter approach for widening up stiff and narrow heart valves, atrial septal defect transcatheter repair, which closes an opening between the heart’s left, and the service providers providing the right atrium without surgery and more services. CentraCare's Heart & Vascular Center used EchoPixel's True3D and HTG pre-planning software, which provides mixed reality capabilities that allow structural heart care teams to interact with a real-time holographic version of the patient's anatomy without physically touching it or exposing it to contrast agents and radiations. In August 2021, the first 3D-printed heart valve of an Indian make was developed in Chennai.
The innovative technologies and techniques of structural heart programs are specifically designed to provide quality care for the best patient results, fewer complications, and shorter recovery times with long-lasting advantages. Such technologies are likely to attract more patients suffering from structural heart diseases. Eventually, the benefits of the services are likely to enhance the market's growth in the forecasted period.
Growing Use of Artificial Intelligence in Structural Heart Creates Significant Opportunities in the Market
The number of interventional structural heart disease (SHD) procedures, such as transcatheter valve procedures, has increased significantly in recent years, triggering the need for well-founded knowledge about optimal anatomical spatial orientation during these procedures. This has led to the development new procedural capabilities and technologies in periprocedural planning. Hybrid fusion imaging (FI) combines multiple modalities with fluoroscopy, mainly based on multislice spiral computed tomography (MSCT) and echocardiography. Ongoing developments in machine learning and artificial intelligence (AI) facilitate the routine use of individualized segmented 3D heart models that allow for multiple combinations of different imaging modalities. As AI enables computers to perform tasks at a more incredible speed and with potentially better precision than humans, risk stratification and outcome aspects can be optimized in the future. The application of computer modeling, 3D printing, and AI has already led to transformations in procedure planning and physician education on SHD. These technologies also promise unlimited possibilities. With further research and development, AI can advance precision medicine at every step, including diagnosis, treatment stratification and device selection, procedure delivery and guidance, and post-procedure/discharge monitoring and rehabilitation.
The structural heart is a rapidly evolving branch of cardiology, and North American, European, and other developing countries are experiencing advancements in related technologies. The occurrence of cardiovascular diseases is increasing in the country and also worldwide. The structural heart is at the initial stage of development in regions such as Asia Pacific, the Middle East, and Africa. For instance, in India, KIMS hospital provides services for the structural heart in the south Indian region. Most of the people in this region chew or smoke tobacco, and the incidence of structural heart disease is increasing in this region. According to the American Heart, cardiovascular diseases caused ~19.1 million deaths worldwide in 2020. In 2020, Eastern Europe and Central Asia had the highest cardiovascular mortality rates. Oceania, Central Europe, North Africa, the Middle East, Sub-Saharan Africa, and South and Southeast Asia also reported higher mortality rates. Thus, with the rising incidence of structural heart diseases in the abovementioned regions, the market players are likely to grab significant opportunities to offer effective products.
Structural Heart Market Report Segmentation Analysis
Key segments that contributed to the derivation of the structural heart market analysis are product, procedure, and end user.
- Based on product, the structural heart market is divided into occluders, annuloplasty rings, heart valve balloons, and others. The occluders segment held the most significant market share in 2023.
- By procedure, the market is categorized into heart valve stenosis, heart valve regurgitation, and left atrial appendage closure. The heart valve stenosis segment held the largest share of the market in 2023.
- By end user, the market is segmented into hospitals, ambulatory surgical centers, and cardiac centers. The hospitals segment held the largest share of the market in 2023.
Structural Heart Market Share Analysis by Geography
The geographic scope of the structural heart market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The North America structural heart market is segmented into the US, Canada, and Mexico. The market growth in this region is attributed to the rise in the prevalence of heart diseases, increased regulatory approvals, research & development, and new product launches. Additionally, many cardiac centers, specialty care centers, ambulatory surgical centers, and favorable reimbursement scenarios in the region are expected to boost the structural heart market growth during the forecast period. Valvular heart disease is the most common form of structural heart disease. According to the Cleveland Clinic, heart valve disease affects ~2.5% of people in the US. These include valve regurgitation (leaky) or stenosis (narrowing). Mitral regurgitation is the most common valvular disease in the United States, although aortic stenosis is also very common. More than 2 million people in the US have a leaking heart valve. In addition, ~1.4 million adults and 1 million children in the United States have a congenital heart defect. Congenital heart disease is the most common birth abnormality in the United States. It affects almost 1% of births annually (~40,000 babies). According to the American Heart Association, in 2022, 1 in 500 people in the US may have hypertrophic cardiomyopathy. Cardiomyopathy has many causes, including coronary artery disease, consequences of a viral infection, environmental influences (e.g., alcohol), and hereditary causes.
Structural Heart Market Report Scope
Structural Heart Market News and Recent Developments
The structural heart market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the structural heart market are listed below:
- Medtronic announced the relaunch of 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). (Source: Medtronic, Press Release, February 2023)
- Genesis MedTech Group (Genesis or Group) has completed the acquisition of JC Medical (JCM), a structural heart company that is primarily engaged in the design and development of transcatheter valve replacement products for the minimally invasive treatment of structural heart diseases. The acquisition means that Genesis will be able to add J-Valve, a minimally invasive transcatheter aortic valve replacement (TAVR) device for both aortic regurgitation and stenosis patients, to its product portfolio. This addition will greatly improve Group's ability to better meet the needs of patients, interventional cardiologists, and cardiac surgeons. (Source: Genesis MedTech Group, Press Release, February 2022)
Structural Heart Market Report Coverage and Deliverables
The “Structural Heart Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Structural heart market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Structural heart market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Structural heart market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the structural heart market
- Detailed company profiles
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
The market is expected to register a CAGR of 8.00% during 2023–2031.
Abbott Laboratories, Medtronic Plc, Boston Scientific Corp, Artivion Inc., Edwards Lifesciences Corp, Lepu Medical Technology Beijing Co Ltd, Braile Biomedica Industry, Commerce and Representations Ltd, Aran Biomedical Teoranta, Micro Interventional Devices Inc, Corcym UK Ltd.
Key factors driving the market are the availability of innovative structural heart services and the high demand for structural heart products.
Technological advancements in structural heart devices will likely remain a key trend in the market.
North America dominated the structural heart market in 2023
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.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- 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
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
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:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 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.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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