The report includes the driving factors such as innovative structural heart services, clinical trials, rise in the number of cardiovascular procedure and corresponding training programs and changing lifestyle increasing disease burden. The growth opportunities in the emerging market is likely to open up additional opportunities for the market growth in coming near future. Similarly, the trend that is expected to drive the growth of the market in coming future is technological advancement.
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The product segment is divided into occluders, annuloplasty rings, heart valve balloon and others. Among the product segment the occluders holds the largest market share whereas, the heart valve balloons is the fastest growing segment. The dominancy is expected to be continued by the occluders due to the advantages offered such as it reduces 50% of the meshwork material on the left atrial side and eliminates the left atrial disc microsrew it minimizes the risk of thrombus formation and damage to the distal wall of the left atrium during the implantation procedure. Also the delivery cable mechanism varies and it allows pivoting of the devices, it also have features fir the large defects and borderline length. Moreover, the devices are fully repositionable and recapturable. The market for structural heart by the product segment is expected to reach US$ 13,850.2 million by 2025 in the forecasted period. Occluders segment has the highest market share in 2017, contributing a market share of 42.0% and is expected to retain its dominance during the forecast period from 2018 to 2025 to account for a market share of 42.5% of the overall revenue generated in 2025.
Occluders Are Likely To Drive The Market For Structural Heart In The Coming Forecasted Period 2018-2025
North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period. North American market is driven by the factors such as, rising prevalence of heart diseases, growing number of regulatory approvals and product launches in the region.
Key industry players operating in the field of structural heart market across the globe include Abbott, Medtronic, Boston Scientific Corporation, CryoLife Ins, Edwards Lifesciences Corporation, LivaNova Plc, Lepu Medical, Braile Biomedica, Labcor Laboratorios Ltda, Aran biomedical Teornta among others.
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Acquisitions and expansions were observed as the most adopted strategy in global structural heart industry. Few of the acquisitions and expansions made by the players in the market are listed below:
2018: In July, 2018, Boston Scientific Corporation announced signing of agreement to acquire Claret Medical, Inc., a privately-held company that has developed and commercialized the Sentinel Cerebral Embolic Protection System.
2017: In November, 2017, Edwards Lifesciences Corporation, announced it expansion, the expansion was done in the Costa Rica a new manufacturing plant was started.
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