According to Data Bridge Market Research new Market report, global structural heart devices market will account to an estimated USD 8.97 billion in 2018 growing at a CAGR of 9.9% during the forecast period of 2019 to 2026.
Global Structural Heart Devices Market
Structural heart devices are a type of medical devices that are used to treat the congenital heart diseases relating to structural and functional defects of the heart, making it difficult for the patients’ heart to functional properly. These devices include valves of the heart that have become dysfunctional due to wear and tear or were present since birth. These devices are used to replace the defected heart structure or are used to treat or repair the already existing parts of our heart.
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Global structural heart devices market is segmented on the basis of product, procedure, age group, indication, end-user and geography.
By Product (Heart Valve Devices, Transcatheter Heart Valves, Surgical Heart Valves, Occluders & Delivery Systems, Annuloplasty Rings, Accessories, Other Devices), Procedure (Replacement Procedures, Repair Procedures), Age Group (Pediatric, Adults), Indication (Atrial Septal Defect, Ventricular Septal Defect, Patent Foramen Ovale, Aortic Valve Stenosis), End-User (Hospitals, Ambulatory Surgical Centers) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN STRUCTURAL HEART DEVICES MARKET
Rising Geriatric Population
According to United Nations Department of Economic and Social Affairs/Population Division; in 2017, estimated population of people with age 60 or above was 962 million, which means around 13 per cent of the population. This age bracket or group is growing at a rate of 3 per cent every year. Presently, Europe is leading the other regions in terms of population consisting of this age group. This brisk speed of ageing is expected to carry on in other regions as well, which projects that by the end of 2050 excluding Africa all regions of the world would have more than a quarter share of their total population at an age of 60 years and above. The population of this age group is projected to reach around 1.40 billion in 2030 and 2.10 billion in 2050, and could ultimately rise up to 3.10 billion in 2100.
This rising levels of age of population, is expected to be one of the major factors for the growth of structural heart devices because of this group of population being prone to physical defects and any abnormalities in the structure of heart.
Few of the major competitors currently working in the structural heart devices market are Micro Interventional Devices, Inc., Braile Biomédica, Lepu Medical, TTK HealthCare, Abbott, Medtronic, Edwards Lifesciences Corporation, Boston Scientific Corporation, CryoLife Inc., LivaNova PLC, Cook Group, Endologix Inc., W. L. Gore & Associates, Inc., Medical Technology Est., JenaValve Technology, Inc., Integer Holdings Corporation, Comed B.V., Biomerics, Dynaflex and Cardiac Dimensions Pty. Ltd.
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