San Francisco, California, Sept 06, 2018: “Structural Heart Devices Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” is the title of a recent report added to TMR Research’s vast repository. The reports states that the global structural heart devices market is rising due to growing instances of aortic stenosis, mitral regurgitation, and similar heart diseases. Demand in the market has also been stoked by the roll out of innovations in repair gadgets such as annuloplasty rings, occluders, and technologically sophisticated methods such as transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR).
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Rising awareness about structural heart diseases is another factor having a positive impact on the global structural heart devices market. Structural heart diseases are non-coronary heart problems since they do not affect the heart blood vessels. But, they can become lethal if not tackled properly and on time. It is said that most structural heart diseases are congenital. However, later they can erupt because of wear and tear brought about by infection.
Posing a challenge to the global structural heart devices market, on the flipside, is the high cost of the products and the risk they pose. Besides, approval processes by authorities are stringent, leading to fewer rollout of new devices. This has also deterred research and development to an extent.
From a geographical perspective, North America at present offers substantial opportunities in the global structural heart devices market. The region’s market is powered primarily by the U.S., where reimbursement policies are favorable. Higher medical spends by people, coupled with greater allocations by both private and public bodies towards cutting-edge research of superior products has also provided a major fillip to the market in the region.
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Companies that account for a prominent share in the global structural heart devices market are Medical Technology Est., Micro Interventional Devices, Inc., St. Jude Medical, Braile Biomedica, Inc., and Medtronic plc.