CHICAGO, March 17, 2020 /PRNewswire/ — According to Arizton‘s recent research report, Cardiac Prosthetic Devices Market – Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of around 14% during the period 2019−2025.
Key Highlights Offered in the Report:
- The cardiac prosthetic devices market is growing at around 14% due to increasingly acceptance of several innovative and breakthrough pacemakers and prosthetic heart valves.
- Advancements in technology including introduction of tiny, wireless, and app-based remote monitoring compatible pacemakers have greatly enhanced the concept of cardiac prosthetic devices as it enables patients and health care professionals for real time tracking of the disease records.
- Advent of leadless cardiac pacemakers with a generator attached to leads exhibited successful implantations of the devices with minimal complications and improved treatment outcomes.
- The focus on the development of breakthrough transcatheter mitral valve replacement (TMVR) device is likely to disrupt the cardiac prosthetic devices market as an alternative treatment option for severe mitral regurgitation in patients with high surgical risk.
- Emergence of next generation tissue heart valve such as suture less aortic valve replacement devices have offered more advanced treatment solution for patients who need aortic valve replacement (AVR).
- Medtronic is the market leader as it offers innovative product line of both cardiac pacemakers as well as heart valve replacement devices.
Key Offerings:
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by products, end-user, and geography
- Competitive Landscape – Profile of 5 key vendors and 13 other vendors
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Cardiac Prosthetic Devices Market – Segmentation
- The heart valve replacement devices market is growing at a healthy rate. An increase in the aging population and the presence of a large pool of patients with heart valve diseases is a major factor in driving the segment growth.
- Ambulatory Surgery Centers (ASC) are growing at a promising rate as they are modern healthcare settings equipped with sophisticated healthcare infrastructure. This segment is expected to witness healthy growth, especially in developed countries, due to the growing popularity of procedures such as pacemaker implants and TAVR over conventional open surgical techniques for implanting cardiac prosthetic devices.
- The mechanical heart valves segment is likely to account for a slower rate than the tissue and transcatheter heart valves segments. The demand for mechanical heart valves is declining, especially in developed economies, due to high risks and complications associated with these devices and the rapid evolution of advanced tissue and transcatheter heart valves with higher safety and efficacy.
Market Segmentation by Products
- Cardiac Peacemakers
- Conventional Cardiac Peacemakers
- Cardiac Resynchronization Therapy Peacemakers (CRT-Ps)
- Heart Valve Replacement Devices
- Transcatheter Heart Valves
- Tissue Heart Valves
- Mechanical Heart Valve
Market Segmentation by End-user
- Hospitals
- Specialty Cardiac Centers
- ASCs
Cardiac Prosthetic Devices Market – Dynamics
Vendors are strategically focusing on the development and commercial launches of their cardiac prosthetic devices such as pacemakers and heart valves for treating a broad range of heart defects. New product approvals/launches coupled with R&D activities, help vendors to expand their presence, enhance market growth, and sustain their market position in the cardiac prosthetic devices market. Vendors are actively involved in launching innovative devices to penetrate and tap the huge growth potential prevailing in the market. In addition, vendors are actively engaged in R&D activities and are planning to launch innovative products in the coming years. For instance, players such as Edwards Lifesciences, Medtronic, Abbott, Boston Scientific, and BIOTRONIK are continuously dominating the market globally owing to their continuous involvement in product innovations and launches.
Key Drivers and Trends fueling Market Growth:
- Increasing Demand for Transcatheter Heart Valve Replacement Procedures
- Rising Patient Pool with Arrhythmia & Heart Valve Diseases
- Advent of Leadless Cardiac Pacemakers
- Emergence of Next-generation Heart Valve Replacement Devices
Cardiac Prosthetic Devices Market – Geography
APAC is growing at a significant rate and is expected to grow during the forecast period. The presence of a large pool of patient population, improvements in healthcare infrastructure, and increased healthcare expenditure are the factors contributing to the growth. Further, the increasing prevalence of heart diseases is a key factor driving the cardiac prosthetic devices market. The increasing prevalence of cardiac diseases such as arrhythmia and valvular heart diseases, aging population are the key factors driving the cardiac prosthetic devices market in the region. As a result, APAC serves as an attractive market destination for many global and local vendors. The governments of various countries are also taking steps to spread awareness among people about heart valve diseases and their treatment options to decrease the mortality rate and comorbidity.
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Market Segmentation by Geography
- Europe
- Spain
- Germany
- Italy
- France
- UK
- North America
- APAC
- South Korea
- China
- Japan
- Australia
- India
- Latin America
- MEA
- Turkey
- Saudi Arabia
- South Africa
Major Vendors
- Medtronic
- Boston Scientific
- Abbott
- Edwards Lifesciences
- BIOTRONIK
Other vendors include – Braile Biomédica, CryoLife, Labcor Laboratórios, Lepu Medical, Lifetech Scientific, LivaNova, MicroPort Scientific, Meril Life Sciences, MEDICO, Shree Pacetronix, TTK Healthcare, VENUS MEDTECH, and Vitatron.
Explore our healthcare & lifesciences profile to know more about the industry.
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Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
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