LONDON--(BUSINESS WIRE)--Technavio market research analysts have predicted the global structural heart disease treatment devices market to grow at a CAGR of close to 10% during the period 2018-2022, in their latest report.
One of the major trends being witnessed in the market is the increase in product launches coupled with R&D activities. The vendors are strategically concentrating on the development and commercial launch of their devices for treating a broad range of structural heart diseases. New product development and R&D activities assist vendors in retaining their position in this market and improve their growth. Vendors are actively involved in launching innovative devices for enhancing clinical outcomes of LAA closure devices, and transcatheter heart valves such as the MRI enabled heart valves for increased visualization, and advanced mechanical heart valves. Additionally, vendors are actively engaged in R&D activities and they are planning to launch innovative products during the forecast period.
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In this report, Technavio analysts highlight the growing prevalence of heart-related disorders as a key factor contributing to the growth of the global structural heart disease treatment devices market:
Growing prevalence of heart-related disorders
The prevalence of various chronic heart-related disorders such as valvular heart diseases, heart failure, cardiac arrest, and congenital heart defects is increasing at a significant rate across the globe. Sudden cardiac arrest is the leading cause of death among adults above 40 years, particularly among individuals above 60 years. Besides, cardio-related disorders such as stroke, rhythm disorders, congenital heart disease, subclinical atherosclerosis, and peripheral arterial disease are the other complications demanding surgical intervention to repair or replace damaged valves and treat damaged or defective areas in the heart.
According to a senior analyst at Technavio for cardiovascular devices, “The incidences of congenital heart defects among newborns who require surgical or catheterization procedures to correct damaged heart valves are increasing at a significant rate. On an average, more than one million newborns are born with CHD each year and require immediate surgical procedures to correct these birth defects. Therefore, the growing prevalence of various heart-related disorders that require improved treatment options such as surgical intervention increase the demand for various structural heart disease treatment devices.”
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Global structural heart disease treatment devices market – segmentation analysis
This market research report segments the global structural heart disease treatment devices market into the following products (repair devices and replacement devices) and key regions (the Americas, APAC, and EMEA). It provides an analysis of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The market for repair devices will grow at a rapid rate during the forecast period owing to the emerging trend of LAA closure devices. These devices are MI techniques that are used to reduce the occurrences of heart attack and the risk of entering left atrial appendage blood clots in the bloodstream. According to a research, closure of the left atrial appendage during heart surgery protects the brain.
In 2017, the Americas dominated the global structural heart disease treatment devices market followed by the markets in EMEA and APAC. The Americas accounted for a market share of approximately 48% in 2017. The market in the Americas is growing at a significant rate because of the growing preference for tissue heart valves over mechanical heart valves and increased adoption of MI and transcatheter procedures.
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