Structural Heart Devices Market to Grow with a CAGR of 8.64% through 2029

The rising prevalence of cardiovascular diseases and a growing aging population is expected to drive the Global Structural Heart Devices Market growth in the forecast period, 2025-2029.

According to TechSci Research report, “Structural Heart Devices Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Structural Heart Devices Market stood at USD 6.81 billion in 2023 and is anticipated to grow with a CAGR of 8.64% in the forecast period, 2025-2029.

This can be attributed to technological advancements. Advancements in medical technology have revolutionized the treatment of cardiovascular diseases. Innovations in materials, imaging techniques, and device design have led to more effective and safer structural heart devices. These technological improvements have made procedures safer, more efficient, and accessible to a broader patient base, driving market expansion. Transcatheter techniques are becoming the go-to approach for structural heart interventions. These procedures offer less invasiveness, shorter recovery times, and a reduced risk of complications compared to open-heart surgery. As technology continues to evolve, the range of applications for transcatheter interventions will expand.      

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The reimbursement landscape in the United States is poised to become more favorable in the foreseeable future, potentially making procedures like Transcatheter Aortic Valve Replacement (TAVR) more accessible. As the aging population becomes eligible for healthcare coverage through the Centers for Medicare and Medicaid Services (CMS), it alleviates the financial burden of medical expenses, encouraging a higher uptake of these treatments. This development particularly benefits procedures such as Left Atrial Appendage Closure (LAAC), which play a crucial role in reducing the risk of stroke.

Industry stakeholders are heavily investing in research and development endeavors to introduce effective products and maintain their competitiveness within the market. Notably, companies like Medtronic, Boston Scientific, Abbott, and Edwards Lifesciences presented new data on their cardiovascular offerings at the 34th Transcatheter Cardiovascular Therapeutics (TCT) conference held in Boston in September 2022.

The market is expected to be driven by the growing number of individuals suffering from structural heart diseases, which are often congenital and frequently affect infants. Tissue-enhanced aortic valves are instrumental in the structural replacement and repair of the heart, making them an attractive option for those with such conditions. Technological advancements have improved the functionality of structural heart devices, raising the quality of life and life expectancy for individuals. Given that these surgeries are minimally invasive, they are often preferred over traditional invasive procedures like open-heart surgery.

Data from organizations like Children's HeartLink indicate that roughly 1 out of every 100 infants has congenital heart disorders, which can range from mild to severe. The most prevalent valve disorder in the United States, according to Cleveland Clinic, is mitral valve regurgitation. These facts underscore the demand for structural heart diagnostic devices, creating substantial opportunities for industry participants. Nonetheless, the adoption of advanced structural heart devices has been sluggish, particularly in developing countries, due to their higher cost compared to traditional alternatives. Complications such as stroke, renal failure, and gastrointestinal issues are associated with these devices, often occurring after mitral valve replacement procedures. The elevated cost of modern structural heart implants and the risks linked with these treatments represent significant obstacles in the market.

The COVID-19 pandemic disrupted routine healthcare in many medical facilities and had a global impact on healthcare systems. This significantly heightened the risks faced by vulnerable patients with cardiovascular disorders. Paradoxically, due to the increased infection risk among cardiovascular patients, there was a surge in demand for various cardiovascular devices, particularly structural cardiac devices, during the pandemic.

The Global Structural Heart Devices Market is segmented into type, regional distribution, and company.

Based on type, the TAVR (Transcatheter Aortic Valve Replacement)segment emerged as the fastest growing segment in the market in 2023. The TAVR segment's rapid growth in the global structural heart devices market is the result of a confluence of factors, including its minimally invasive nature, broadening indications, technological advancements, increasing acceptance, favorable clinical outcomes, supportive regulatory environment, strategic industry actions, and expanding geographic reach. These elements together make TAVR an attractive and rapidly expanding treatment option for patients with aortic stenosis.

Based on region, the Asia Pacific region is expected to experience the most rapid CAGR during the forecast period. The region has a significant number of patients suffering from cardiovascular diseases, including structural heart diseases. Lifestyle changes, urbanization, and an increase in risk factors like hypertension, diabetes, and obesity contribute to the growing incidence of these conditions. Governments and private sectors in the Asia-Pacific region are heavily investing in improving healthcare infrastructure. This includes the establishment of advanced medical facilities and the acquisition of cutting-edge medical technologies. Countries like India, Thailand, and Malaysia have become popular destinations for medical tourism due to high-quality medical services at lower costs, attracting patients from around the world seeking structural heart treatments. Manufacturers of these devices are actively exploring untapped development opportunities in this region. For example, in December 2022, Abbott introduced Navitor in India, a minimally invasive transcatheter aortic valve implantation (TAVI) system designed for individuals with severe aortic stenosis at high or extreme surgical risk. This innovative device effectively prevents blood leakage around the valve, thus advancing transcatheter aortic valve replacement therapies.

Major companies operating in Global Structural Heart Devices Market are:

·         Abbott Laboratories, Inc.

·         Edwards Lifesciences Corporation

·         Medtronic Plc

·         Boston Scientific Corporation

·         Lepu Medical Technology Holding Company

·         TTK Healthcare Limited

·         Biomerics, LLC

·         Braile Biomedic

·         Artivion, Inc.

·         JenaValve Technology Inc

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“The global structural heart devices market is undergoing significant transformation, with numerous trends that promise to redefine the landscape of cardiovascular care. Minimally invasive procedures, expanding indications, AI, and personalized medicine are just a few of the exciting developments driving the industry forward. These trends, combined with advancements in technology and the global reach of structural heart devices, offer the promise of improved patient outcomes and a brighter future for cardiovascular patients around the world,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Global Structural Heart Devices Market By Type (SAVR (Surgical Aortic Valve Replacement), TAVR (Transcatheter Aortic Valve Replacement), Mitral Repair (Annuloplasty), LAAC (Left Atrial Appendage Closure)), By Region, Competition Forecast & Opportunities, 2019-2029F”, has evaluated the future growth potential of Global Structural Heart Devices Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Structural Heart Devices Market.

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