IQ4I Research & Consultancy Published a New Report on "Structural Heart Devices Global Market - Forecast To 2022".
Structural heart devices has emerged as a new focus area of medical device manufacturers as the population of most developed and developing countries continue to become older and risk of cardiovascular diseases increase with aging. The cardiovascular diseases which also include structural heart diseases have become leading cause of death. It is projected that, with newfound prosperity due to globalization and industrialization has led to changing lifestyle increasing risk of younger people developing cardiovascular diseases. The increased interest has led to development of new technologies and devices that are less invasive and address the need of treatment of patients who are considered too weak to withstand the trauma of an open heart surgery. Structural heart devices market is expanding at double digit rate, as estimated by IQ4I Research and Structural heart devices global market is expected to reach $8,792.0 million by 2022.
Prevalence of heart valve diseases due to aging population, technological advancement and growing healthcare expenditure and demand for minimally invasive surgery are driving market growth. However, strict regulatory requirements with high cost of device development, lack of patient awareness and primary healthcare infrastructure in developing countries, high cost associated with the device and procedure are hindering the growth of market. The lack of properly trained professional who could use the advanced surgical instruments is severely effecting development of the market.
The structural heart device global market is classified based on type, end-users and geography. The structural heart device market by type is segmented into repair and replacement markets base on the type of procedure performed. The repair segment is further sub segmented into annuloplasty, valvuloplasty and Transcatheter mitral valve repair (TMVR). The replacement segment is further segmented by technique into surgical valves and Transcatheter aortic valves replacement (TAVR). The surgical valve is sub-segmented as mechanical and tissue heart valves. The structural heart devices end-user market is segmented into public and private hospitals based on location where the procedures are performed. Finally, the structural heart devices market is classified by geographical regions into North America, Europe, Asia-pacific and Rest of the World.
Geographical wise North America holds the largest share of the structural heart devices global market followed by Europe. Enhanced government grants, launch of new products, high healthcare budget allocation and increased interest in research and development are the factors owing the growth of structural heart devices market in North American region. Asia-Pacific region is considered to be the fastest growing market.
The major players operating in the structural heart device market are Edwards Lifesciences Corporation (U.S.), Medtronic, PLC (Ireland), St. Jude Medical (U.S.), Abbott Laboratories (U.S.), Liva Nova (U.K.), Boston Scientific Corporation (U.S.), Jenavalve GmbH (Germany), CryoLife, Inc (U.S.), Lepu Medical (China) and Braile Biomedica, Ltda (Brazil).
IQ4I Research & Consultancy Pvt. Ltd.
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|Publication:||PR.com (Press Releases)|
|Date:||Mar 3, 2016|
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