Summary

Structural heart devices refer to a category of medical devices designed for the diagnosis & treatment of structural abnormalities within the heart. Global structural heart devices market refers to the global industry focused on the development, production, and sale of medical devices designed to treat structural abnormalities of the heart. The global structural heart devices market value stood at US$13.75 billion in 2023, and is expected to reach US$22.16 billion by 2029.

Growing prevalence of cardiovascular diseases and metabolic disorders, especially in developing countries is a major factor driving the market growth. In addition, increased occurrence of coronary artery disease, heart failure & chronic kidney disease will contribute to the high growth rates over the coming years. Structural heart devices market has been positively expanding over the years owing to aging population, rising cases of congenital cardiac disorders in infants, increasing number of risk factors associated with heart diseases including obesity and hypertension, ongoing advancements in medical technology, increase in recent regulatory approval and expanding indications of devices, and rising technological advancements with respect to device design and procedure techniques. Also, rising adoption of modern lifestyles, characterized by sedentary behavior, unhealthy diets, and increased stress, are taking a toll on heart health. The market is expected to grow at a CAGR of 8.28% over the projected period of 2024-2029.

Market Segmentation Analysis:

By Product: The report provides the bifurcation of the global structural heart devices market into four segments on the basis of product, namely, heart valve devices, annuloplasty rings, occluders & delivery systems, and other products. Heart valve devices is the largest segment of global structural heart devices owing to increasing cases of heart valve diseases such as calcific aortic valve disease and rheumatic heart diseases, growing prevalence of atrial fibrillation, increasing number of transcatheter aortic valve replacement procedures, high success rates & long-term durability of these devices, growing adoption of heart valve devices in emerging markets, and continuous innovations in heart valve technologies leading to development of advanced cardiovascular devices that offer improved durability, functionality, and compatibility. Occluders & delivery systems is the fastest growing segment of the global structural heart devices market owing to increasing prevalence of structural heart diseases, high success rates of these devices in clinical trials and real-world applications, rise in the usage of these devices to treat congenital heart defects, atrial septal defects and ventricular septal defects, increasing awareness and screening for structural heart defects, and rising global focus on pediatric cardiac care.

By Procedure: The report provides the bifurcation of the global structural heart devices market into two segments on the basis of procedure: replacement procedure, and repair procedure. Replacement procedures is the largest and fastest growing segment of global structural heart devices market owing to increasing prevalence of valvular heart diseases, rising cardiac surgery expertise, surge in cardiovascular comorbidities, availability of improved prosthetic valve designs, increasing demand for advanced minimally invasive procedures for the treatment of stenosis, improved patient education around valvular heart diseases, and increasing R&D efforts aimed at improving valve replacement technology. In addition, the incorporation of robotics in cardiac surgeries, allowing surgeons to precisely control surgical tools, has further revolutionized the replacement procedures.

By End User: The global structural heart devices market can be divided into four segments, on the basis of end user, namely, hospitals, ambulatory surgical centers, cardiac centers, and other end users. Hospitals are the largest and fastest growing segment of global structural heart devices market as a result of high patient volume, rising prevalence of congenital heart defects, presence of highly trained cardiologists and interventional specialists, ongoing popularity of specialized heart centers in hospitals, well-established cardiology departments and intensive care units (ICUs), provision of post-surgical care and long-term monitoring in hospitals, and ongoing enhancements in the healthcare infrastructure. In addition, in many countries, hospitals benefit from more favorable reimbursement policies for structural heart procedures compared to outpatient centers.

By Region: The report provides insight into the global structural heart devices market based on regions namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America is the largest region of global structural heart devices market, owing to aging population, increase in healthcare spending, presence of well-established healthcare infrastructure, existence of a sizable population suffering from structural heart diseases, strong preference for minimally invasive procedures, high prevalence of cardiovascular diseases, well-established reimbursement policies and favorable healthcare regulations in countries like the US & Canada, and strong presence of major market players, including, Edwards Lifesciences Corporation, Boston Scientific Corporation, Artivion, Inc., Biomerics, JenaValve, etc. in the region. Also, North America is known for its strong scientific community, advanced research infrastructure, and early adoption of advanced medical technologies and procedures, fostering a conducive environment for the development of sophisticated, minimally invasive & highly effective structural heart devices.

Asia Pacific is the fastest growing region of global structural heart devices market as a result of rising prevalence of cardiovascular disorders and cardiac valve ailments, consistent positive outlook for cardiovascular care, large patient pool, growing geriatric population base, rapidly evolving healthcare industry, rising awareness about cardiac diseases, better newborn screening programs, increasing medical tourism industry, implementation of government-funded insurance scheme and reimbursement scenario, and improvement in healthcare access in the region. China is the largest region of Asia Pacific structural heart devices market owing to rapidly growing patient population, country's robust economic growth, rapid expansion of healthcare infrastructure, increasing middle-class healthcare spending, growing number of domestic manufacturers & innovators in the medical device sector, increased awareness about cardiovascular health, and ongoing development of advanced medical training programs and centers of excellence in cardiology and cardiac surgery in the country.

Market Dynamics:

Growth Drivers: The global structural heart devices market has been rapidly growing over the past few years, due to factors such as rising healthcare expenditure, increasing cases of structural heart diseases, favorable reimbursement policies, rising public awareness and diagnosis, growing prevalence of cardiovascular diseases and metabolic disorders, etc. Cardiovascular diseases, such as hypertension, cerebrovascular disease, rheumatic heart disease and coronary artery disease, and metabolic disorders, like diabetes, often lead to complications that affect the heart's structure. So, as conditions such as aortic stenosis, mitral regurgitation, and atrial septal defects become more common, the demand for structural heart devices, which are used to repair or replace damaged heart valves or other structures, will continue to rise accordingly. In addition, favorable reimbursement policies also incentivize manufacturers to invest in the development of new & improved structural heart devices. Knowing that their products will be financially accessible to a broad patient base, companies are more likely to innovate. Therefore, favorable reimbursement policies is expected to boost the growth of global structural heart devices market in the forecasted period of 2024-2029.

Challenges: However, the global structural heart devices market growth would be negatively impacted by various challenges such as, high price associated with heart-related disorder treatment devices, strict government regulations, etc. The adoption of advanced structural heart devices has been sluggish, particularly in developing countries, as these devices are costlier than their traditional equivalents. The high cost of structural heart devices, make these treatments unaffordable for many patients, especially in low- and middle-income countries. In addition, healthcare systems, particularly public ones, may struggle to allocate funds for expensive structural heart devices, leading to limited availability in hospitals and clinics.

Trends: The global structural heart devices market is projected to grow at a fast pace during the forecasted period, due to increasing integration of AI and big data, rising demand for minimally invasive procedures, advancing clinical trials and research, ongoing technological advancements, etc. Industry players are investing heavily in research and development procedures to launch effective products and get regulatory approvals for the use of those products by various health institutions. So with increasing number of successful clinical trials obtaining regulatory approvals from agencies like the FDA or EMA, large number of new devices are entering the market, contributing to market expansion and competitive dynamics. Also, transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR) are some of the examples of minimally-invasive procedures that have replaced open heart surgical procedures. Minimally invasive procedures involve smaller incisions compared to traditional open-heart surgery. This leads to less trauma to the body, shorter hospital stays, and quicker recovery times. Patients, especially the elderly and those with comorbidities, often prefer these less invasive options due to the reduced risk and faster return to normal activities.

Impact Analysis of COVID-19 and Way Forward:

COVID-19 brought in many changes in the world in terms of reduced productivity, loss of life, business closures, closing down of factories and organizations, and shift to an online mode of work. The growth of global structural heart devices market was positively impacted during the period 2019-2020, as with the healthcare system under pressure, there was an increased demand for minimally invasive procedures to be performed with shorter hospital stays & reduced risk of complications. Structural heart devices, which are often used in less invasive procedures compared to traditional open-heart surgeries gained traction, increasing the adoption of these devices during the period.

Competitive Landscape:

The global structural heart devices market is fragmented, with large number of companies, ranging from established brands to smaller regional players and niche manufacturers catering to the industry demand. The market is characterized by the presence of numerous manufacturers, suppliers, and distributors operating on a global scale.

The key players of the market are:

Abbott Laboratories
Koninklijke Philips NV
Edwards Lifesciences Corporation
Boston Scientific Corporation
Lepu Medical Technology (Beijing) Co., Ltd.
Artivion, Inc.
Medtronic PLC
Biomerics
MicroPort Scientific Corporation
JenaValve
Corcym Group

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Table of Contents

1. Executive Summary

2. Introduction

2.1 Structural Heart Devices: An Overview
2.1.1 Definition of Structural Heart Devices
2.1.2 Benefits of Structural Heart Devices
2.1.3 Different Structural Heart Disease Procedures

2.2 Structural Heart Devices Segmentation: An Overview
2.2.1 Structural Heart Devices Segmentation

3. Global Market Analysis

3.1 Global Structural Heart Devices Market: An Analysis

3.1.1 Global Structural Heart Devices Market: An Overview
3.1.2 Global Structural Heart Devices Market by Value
3.1.3 Global Structural Heart Devices Market by Product (Heart Valve Devices, Annuloplasty Rings, Occluders & Delivery Systems, and Other Products)
3.1.4 Global Structural Heart Devices Market by Procedure (Replacement Procedure, and Repair Procedure)
3.1.5 Global Structural Heart Devices Market by End User (Hospitals, Ambulatory Surgical Centers, Cardiac Centers, and Other End Users)
3.1.6 Global Structural Heart Devices Market by Region (North America, Europe, Asia Pacific, and Rest of the World)

3.2 Global Structural Heart Devices Market: Product Analysis

3.2.1 Global Structural Heart Devices Market: Product Overview
3.2.2 Global Structural Heart Valve Devices Market by Value
3.2.3 Global Structural Heart Annuloplasty Rings Market by Value
3.2.4 Global Structural Heart Occluders & Delivery Devices Market by Value
3.2.5 Global Other Structural Heart Products Market by Value

3.3 Global Structural Heart Devices Market: Procedure Analysis

3.3.1 Global Structural Heart Devices Market: Procedure Overview
3.3.2 Global Replacement Procedure Structural Heart Devices Market by Value
3.3.3 Global Repair Procedure Structural Heart Devices Market by Value

3.4 Global Structural Heart Devices Market: End User Analysis

3.4.1 Global Structural Heart Devices Market: End User Overview
3.4.2 Global Hospitals Structural Heart Devices Market by Value
3.4.3 Global Ambulatory Surgical Centers Structural Heart Devices Market by Value
3.4.4 Global Cardiac Centers Structural Heart Devices Market by Value
3.4.5 Global Other End Users Structural Heart Devices Market by Value

4. Regional Market Analysis

4.1 North America Structural Heart Devices Market: An Analysis

4.1.1 North America Structural Heart Devices Market: An Overview
4.1.2 North America Structural Heart Devices Market by Value
4.1.3 North America Structural Heart Devices Market by Region (The US, Canada, and Mexico)
4.1.4 The US Structural Heart Devices Market by Value
4.1.5 Canada Structural Heart Devices Market by Value
4.1.6 Mexico Structural Heart Devices Market by Value

4.2 Europe Structural Heart Devices Market: An Analysis

4.2.1 Europe Structural Heart Devices Market: An Overview
4.2.2 Europe Structural Heart Devices Market by Value
4.2.3 Europe Structural Heart Devices Market by Region (Germany, UK France, Italy, Spain, and Rest of Europe)
4.2.4 Germany Structural Heart Devices Market by Value
4.2.5 UK Structural Heart Devices Market by Value
4.2.6 France Structural Heart Devices Market by Value
4.2.7 Italy Structural Heart Devices Market by Value
4.2.8 Spain Structural Heart Devices Market by Value
4.2.9 Rest of Europe Structural Heart Devices Market by Value

4.3 Asia Pacific Structural Heart Devices Market: An Analysis

4.3.1 Asia Pacific Structural Heart Devices Market: An Overview
4.3.2 Asia Pacific Structural Heart Devices Market by Value
4.3.3 Asia Pacific Structural Heart Devices Market by Region (China, Japan, India, South Korea and rest of Asia Pacific)
4.3.4 China Structural Heart Devices Market by Value
4.3.5 Japan Structural Heart Devices Market by Value
4.3.6 India Structural Heart Devices Market by Value
4.3.7 South Korea Structural Heart Devices Market by Value
4.3.8 Rest of Asia Pacific Structural Heart Devices Market by Value

4.4 Rest of the World Structural Heart Devices Market: An Analysis

4.4.1 Rest of the World Structural Heart Devices Market: An Overview
4.4.2 Rest of the World Structural Heart Devices Market by Value

5. Impact of COVID-19

5.1 Impact of COVID-19 on Global Structural Heart Devices Market
5.2 Post COVID-19 Impact on Global Structural Heart Devices Market

6. Market Dynamics

6.1 Growth Drivers
6.1.1 Rising Healthcare Expenditure
6.1.2 Growing Prevalence Of Cardiovascular Diseases and Metabolic Disorders
6.1.3 Increasing Cases of Structural Heart Diseases
6.1.4 Favorable Reimbursement Policies
6.1.5 Rising Public Awareness and Diagnosis

6.2 Challenges
6.2.1 High Price Associated With Heart-related Disorder Treatment Devices
6.2.2 Strict Government Regulations

6.3 Market Trends
6.3.1 Increasing Integration of AI and Big Data
6.3.2 Rising Demand for Minimally Invasive Procedures
6.3.3 Advancing Clinical Trials and Research
6.3.4 Ongoing Technological Advancements

7. Competitive Landscape

7.1 Global Structural Heart Devices Market: Competitive Landscape
7.2 Global Structural Heart Devices Market Players: Product Comparison

8. Company Profiles

8.1 Abbott Laboratories
8.1.1 Business Overview
8.1.2 Operating Segments
8.1.3 Business Strategy

8.2 Koninklijke Philips NV
8.2.1 Business Overview
8.2.2 Operating Segments
8.2.3 Business Strategy

8.3 Edwards Lifesciences Corporation
8.3.1 Business Overview
8.3.2 Operating Segments
8.3.3 Business Strategy

8.4 Boston Scientific Corporation
8.4.1 Business Overview
8.4.2 Operating Segments
8.4.3 Business Strategy

8.5 Lepu Medical Technology(Beijing)Co., Ltd.
8.5.1 Business Overview
8.5.2 Revenue by Business Type
8.5.3 Business Strategy

8.6 Artivion, Inc.
8.6.1 Business Overview
8.6.2 Operating Segments
8.6.3 Business Strategy

8.7 Medtronic PLC
8.7.1 Business Overview
8.7.2 Operating Segments
8.7.3 Business Strategy

8.8 Biomerics
8.8.1 Business Overview
8.8.2 Business Strategy

8.9 MicroPort Scientific Corporation
8.9.1 Business Overview
8.9.2 Business Strategy

8.10 JenaValve
8.10.1 Business Overview
8.10.2 Business Strategy

8.11 Corcym Group
8.11.1 Business Overview
8.11.2 Business Strategy

List of Figures

Figure 1: Benefits of Structural Heart Devices
Figure 2: Structural Heart Devices Segmentation
Figure 3: Global Structural Heart Devices Market by Value; 2019-2023 (US$ Billion)
Figure 4: Global Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 5: Global Structural Heart Devices Market by Product; 2023 (Percentage, %)
Figure 6: Global Structural Heart Devices Market by Procedure; 2023 (Percentage, %)
Figure 7: Global Structural Heart Devices Market by End User; 2023 (Percentage, %)
Figure 8: Global Structural Heart Devices Market by Region; 2023 (Percentage, %)
Figure 9: Global Structural Heart Valve Devices Market by Value; 2019-2023 (US$ Billion)
Figure 10: Global Structural Heart Valve Devices Market by Value; 2024-2029 (US$ Billion)
Figure 11: Global Structural Heart Annuloplasty Rings Market by Value; 2019-2023 (US$ Billion)
Figure 12: Global Structural Heart Annuloplasty Rings Market by Value; 2024-2029 (US$ Billion)
Figure 13: Global Structural Heart Occluders & Delivery Devices Market by Value; 2019-2023 (US$ Billion)
Figure 14: Global Structural Heart Occluders & Delivery Devices Market by Value; 2024-2029 (US$ Billion)
Figure 15: Global Other Structural Heart Products Market by Value; 2019-2023 (US$ Billion)
Figure 16: Global Other Structural Heart Products Market by Value; 2024-2029 (US$ Billion)
Figure 17: Global Replacement Procedure Structural Heart Devices Market by Value; 2019-2023 (US$ Billion)
Figure 18: Global Replacement Procedure Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 19: Global Repair Procedure Structural Heart Devices Market by Value; 2019-2023 (US$ Billion)
Figure 20: Global Repair Procedure Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 21: Global Hospitals Structural Heart Devices Market by Value; 2019-2023 (US$ Billion)
Figure 22: Global Hospitals Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 23: Global Ambulatory Surgical Centers Structural Heart Devices Market by Value; 2019-2023 (US$ Billion)
Figure 24: Global Ambulatory Surgical Centers Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 25: Global Cardiac Centers Structural Heart Devices Market by Value; 2019-2023 (US$ Billion)
Figure 26: Global Cardiac Centers Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 27: Global Other End Users Structural Heart Devices Market by Value; 2019-2023 (US$ Billion)
Figure 28: Global Other End Users Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 29: North America Structural Heart Devices Market by Value; 2019-2023 (US$ Billion)
Figure 30: North America Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 31: North America Structural Heart Devices Market by Region; 2023 (Percentage, %)
Figure 32: The US Structural Heart Devices Market by Value; 2019-2023 (US$ Billion)
Figure 33: The US Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 34: Canada Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 35: Canada Structural Heart Devices Market by Value; 2024-2029 (US$ Million)
Figure 36: Mexico Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 37: Mexico Structural Heart Devices Market by Value; 2024-2029 (US$ Million)
Figure 38: Europe Structural Heart Devices Market by Value; 2019-2023 (US$ Billion)
Figure 39: Europe Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 40: Europe Structural Heart Devices Market by Region; 2023 (Percentage, %)
Figure 41: Germany Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 42: Germany Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 43: UK Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 44: UK Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 45: France Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 46: France Structural Heart Devices Market by Value; 2024-2029 (US$ Million)
Figure 47: Italy Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 48: Italy Structural Heart Devices Market by Value; 2024-2029 (US$ Million)
Figure 49: Spain Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 50: Spain Structural Heart Devices Market by Value; 2024-2029 (US$ Million)
Figure 51: Rest of Europe Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 52: Rest of Europe Structural Heart Devices Market by Value; 2024-2029 (US$ Million)
Figure 53: Asia Pacific Structural Heart Devices Market by Value; 2019-2023 (US$ Billion)
Figure 54: Asia Pacific Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 55: Asia Pacific Structural Heart Devices Market by Region; 2023 (Percentage, %)
Figure 56: China Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 57: China Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 58: Japan Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 59: Japan Structural Heart Devices Market by Value; 2024-2029 (US$ Million)
Figure 60: India Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 61: India Structural Heart Devices Market by Value; 2024-2029 (US$ Million)
Figure 62: South Korea Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 63: South Korea Structural Heart Devices Market by Value; 2024-2029 (US$ Million)
Figure 64: Rest of Asia Pacific Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 65: Rest of Asia Pacific Structural Heart Devices Market by Value; 2024-2029 (US$ Million)
Figure 66: Rest of the World Structural Heart Devices Market by Value; 2019-2023 (US$ Million)
Figure 67: Rest of the World Structural Heart Devices Market by Value; 2024-2029 (US$ Billion)
Figure 68: Global Healthcare Expenditure as a Share of GDP; 2022-2029 (Percentage, %)
Figure 69: Global Artificial Intelligence in Healthcare Market Size; 2021–2025 (US$ Billion)
Figure 70: Abbott Laboratories Revenue by Segment; 2023 (Percentage, %)
Figure 71: Koninklijke Philips NV Sales by Segments; 2023 (Percentage, %)
Figure 72: Edwards Lifesciences Corporation Net Sales by Segment; 2023 (Percentage, %)
Figure 73: Boston Scientific Corporation Net Sales by Segment; 2023 (Percentage, %)
Figure 74: Lepu Medical Technology(Beijing) Co., Ltd. Revenue by Business Type; 2023 (Percentage, %)
Figure 75: Artivion, Inc. Revenue by Operating Segments; 2023 (Percentage, %)
Figure 76: Medtronic PLC Net Sales by Segments; 2023 (Percentage, %)
Table 1: Global Structural Heart Devices Market Players: Product Comparison