Structural Heart Devices Market to Gain Significant Traction as Medtronic Partners with The Foundry, a medical device company, to develop innovative Mitral Valve Repair Technology

 

Structural Heart Devices Market

Structural heart devices are medical devices with the ability to pump blood by way of the heart. This device is called the ventricular myocardium, and it is what pumps blood from the heart to the various chambers of the body. The structure that this type of heart device has is very basic - a couple of stacks of cells (or more, depending upon the desired function), and a tubing filled with fluid that can allow for the movement of the cells. This particular construction has allowed these devices to be built so that they can pump blood and create heart attacks and heart failure with much greater efficiency.

Increasing prevalence of structural heart diseases such as valvular heart disease, cardiomyopathy, and Marfan syndrome is expected to drive growth of the global structural heart devices market during the forecast period. According to the Centers for Disease Control Prevention (CDC), 1 in 500 adults in the U.S. may have cardiomyopathy of all ages. According to the CDC, in 2017, there were around 3,046 deaths due to rheumatic valvular heart disease and 24,811 deaths due to non-rheumatic valvular heart disease in the U.S. Such a massive increase in structural heart disease has increased the demand for structural heart devices. Hence, these factors are expected to drive growth of the global structural heart devices market. Furthermore, increasing product approvals and of advanced structural heart devices is expected to propel the global structural heart devices market growth in the near future.

Lack of skilled personnel and low affordability is expected to restrain growth of the global structural heart devices market during the forecast period. However, the emergence of tissue-engineered heart valves and the advent of percutaneous interventions can offer major business opportunities in the global structural heart devices market. Among regions, North America is expected to witness significant growth in the global structural heart devices market during the forecast period. This is owing to growing preference for minimally invasive procedures in the region. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to increasing awareness regarding cardiac diseases.

Key players involved in the global structural heart devices market are Boston Scientific Corporation, CardioKinetix, Medtronic, JenaValve Technology, Inc., Edwards Lifesciences Corporation, LivaNova plc, Abbott Laboratories, Comed BV, ST. Jude Medical, and Biomerics.

For instance, in October 2020, Medtronic, a major medical technology company, partnered with The Foundry, a medical device company, to develop innovative Mitral Valve Repair Technology.


Location: India

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