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How Much Growth is Expected for the Structural Heart Market from 2024 to 2033?

In recent times, the size of the structural heart market has seen significant growth. An expansion from $14.13 billion in 2023 to $15.3 billion in 2024, marking an annual compound growth rate (CAGR) of 8.3%, is expected. Factors such as heightened awareness and screening procedures, a resilient supply chain, an uptrend in health expenditure, enhanced market concentration, and an increased understanding of cardiovascular diseases have contributed to this historical period of growth.

The size of the structural heart market is predicted to experience significant expansion in the coming years, reaching a size of $20.69 billion in 2028 with a compound annual growth rate (CAGR) of 7.8%. This growth during the forecast period can be attributed to factors such as the demand for heart valve devices, an aging population, an increasing prevalence of cardiovascular diseases, market segmentation, and regional market growth. The forecast period is expected to witness major trends like product introductions, advancements in technology, economic revival, regulatory impositions, and a rise in cases of cardiovascular diseases, along with the development of innovative medical devices.

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What Factors Are Encouraging Growth in the structural heart Market?

The increasing occurrence of cardiovascular disorders is anticipated to drive the expansion of the structural heart market. These disorders, which impact the heart and blood vessels, include conditions like coronary artery disease, heart failure, and stroke. The surge in these disorders largely stems from an aging population, changes in lifestyle and dietary habits, and growing incidences of obesity and diabetes. Structural heart equipment and services provide diagnostic and treatment solutions to structural heart abnormalities affecting the valves, chambers, and surrounding tissues, using minimally invasive procedures as an alternative to open-heart surgery to reduce the risk of complications. For example, a report released by the American College of Cardiology in August 2022 highlights that in the United States, all four cardiovascular risk factors are predicted to rise between 2025 and 2060. Diabetes is anticipated to see the most significant percentage increase at 39.3% to 55 million individuals. This is closely followed by dyslipidemia (27.6% to 126 million), hypertension (25.1% to 162 million), and obesity (18.3% to 126 million). The study also denoted that notable increases in cardiovascular disease rates were expected in stroke (33.8% to 15 million) and heart failure (33.4% to 13 million), followed by ischemic heart disease (30.7% to 29 million) and heart attack (16.9% to 16 million). As such, the escalating prevalence of cardiovascular disorders is fuelling the growth of the structural heart market.

Which Segments Play a Vital Role in the Structural Heart Market?

1) By Product: Occluders, Annuloplasty Rings, Heart Valve Balloons, Other Products

2) By Procedure: Heart Valve Stenosis, Heart Valve Regurgitation, Left Atrial Appendage Closure

3) By End Users: Hospitals, Ambulatory Surgical Centers, Cardiac Centers

What Trends Are Driving Change in the Structural Heart Market?

The rise of technological innovation is a prominent trend observed in the structural heart market. Leading entities in the structural heart space are focusing their energies on developing cutting-edge products to bolster their market standing. For instance, Eko Health, a digital health firm based in the US, unveiled the SENSORA cardiac disease detection platform in February 2023. This platform is to be used for non-intrusive cardiac disease identification in primary care. The SENSORA platform uses artificial intelligence to precisely detect structural murmurs, which are indicators of valvular heart disease. Its care pathway analytics software offers insights and measurements of a patient’s journey through the healthcare system by collecting and examining heart sounds and electrical signals via its digital stethoscopes. The platform is expected to support crucial decision-making processes by identifying possible gaps in care, which could lead to improvements in operational efficiency. These include reducing the delay in care provision, lowering hospital stay duration, minimizing readmission rates, and improving both patient and doctor satisfaction.

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What Regions Are Contributing Significantly to the Growth of the Structural Heart Market?

North America was the largest region in the structural heart market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the structural heart market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Structural Heart Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the structural heart market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Structural Heart Market Include

1. Structural Heart Market Executive Summary

2. Structural Heart Market Segments

3. Structural Heart Market Size And Template Market Growth Rate

4. Key Structural Heart Market Trends

5. Major Structural Heart Market Drivers

……

25. Key Mergers And Acquisitions In The Structural Heart Market

26. Top Structural Heart Companies

27. Structural Heart Market Opportunities And Strategies

28. Structural Heart Market, Conclusions And Recommendations

29. Appendix

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