Structural Heart Devices Market Size, Share, Growth Analysis, By Type(Transcatheter Heart Valve and Left Atrial Appendage Closure Devices) - Industry Forecast 2024-2031

Structural Heart Devices Market size was valued at USD 10.01 billion in 2021 and is poised to grow from USD 10.95 billion in 2022 to USD 22.64 billion by 2030, growing at a CAGR of 9.4% in the forecast period (2023-2030).

The structural heart devices market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Structural Heart Devices. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions. 'Abbott Laboratories (United States)', 'Medtronic PLC (Ireland)', 'Edwards Lifesciences Corporation (United States)', 'Boston Scientific Corporation (United States)', 'LivaNova PLC (United Kingdom)', 'MicroPort Scientific Corporation (China)', 'Terumo Corporation (Japan)', 'CryoLife, Inc. (United States)', 'W. L. Gore & Associates, Inc. (United States)', 'Meril Life Sciences Pvt. Ltd. (India)', 'Braile Biomédica (Brazil)', 'JenaValve Technology, Inc. (Germany)', 'Lepu Medical Technology Co., Ltd. (China)', 'Xeltis AG (Switzerland)', 'AtriCure, Inc. (United States)', 'CardiAQ Valve Technologies (United States)', 'Transcatheter Technologies GmbH (Germany)', 'Venus Medtech (Hangzhou) Inc. (China)', 'Colibri Heart Valve, LLC (United States)', 'Comed B.V. (Netherlands)'

One driver of the structural heart devices market is the increasing prevalence of structural heart diseases. The rising incidence of heart valve disorders, congenital heart defects, and other structural abnormalities fuels the demand for structural heart devices. Technological advancements in minimally invasive procedures and the development of innovative devices have improved patient outcomes and expanded the treatment options for these conditions. Additionally, the growing geriatric population, which is more prone to structural heart diseases, contributes to the market growth.

One key market trend in the structural heart devices market is the increasing adoption of minimally invasive procedures. Minimally invasive techniques, such as transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR), are gaining traction due to their benefits of reduced hospital stays, shorter recovery times, and lower risk of complications compared to traditional open-heart surgeries. This trend is driven by advancements in medical technology, allowing for more precise and effective procedures.

One dominant region in the structural heart devices market is North America. This region has a strong presence of major market players, advanced healthcare infrastructure, and a high prevalence of cardiovascular diseases. The well-established reimbursement policies and favorable healthcare regulations in countries like the United States and Canada contribute to the dominance of this region in the market. North America is known for early adoption of advanced medical technologies and procedures, which further drives the demand for structural heart devices.