The global Cardiac Prosthetic Devices Market is estimated to be valued at US$ 7.5 Bn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cardiac prosthetic devices are medical implants that are used to replace defective heart valves and cardiac pumps. These devices are used for patients suffering from cardiovascular diseases to improve heart functioning. They help restore heart health and allow people to enjoy an improved quality of life.
Market key trends:
One of the key trends in the cardiac prosthetic devices market is the growing preference for minimally invasive cardiac procedures. Minimally invasive procedures are preferred over open-heart surgeries as they are less traumatic, allow for faster recovery times, and have fewer surgical complications. These procedures involve smaller incisions and specialized instruments to access the heart through narrow ports. Transcatheter aortic valve replacement (TAVR) and trans-catheter mitral valve repair are examples of minimally invasive procedures gaining popularity. Moreover, technological advances are leading to development of innovative prosthetic heart valves with better performance and durability.
Segment Analysis
The Global Cardiac Prosthetic Devices Market is segmented by product into heart valves, ventricular-assist devices, pacemakers, and others. Heart valves are further segmented into mechanical heart valves and tissue/bio-prosthetic heart valves. Mechanical heart valves hold the dominant market share owing to lower risk of structural valve deterioration as compared to tissue/bio-prosthetic heart valves.
Key Takeaways
The global cardiac prosthetic devices market is expected to witness high growth, exhibiting a CAGR of 9.3% over the forecast period, due to increasing prevalence of cardiac diseases and surging geriatric population globally.
Market size
The global cardiac prosthetic devices market size was valued at US$ 7.5 Bn in 2023. The market is expected to grow due to increasing prevalence of cardiac diseases and surging geriatric population globally.
Regional analysis
North America dominates the global cardiac prosthetic devices market due to rising healthcare expenditure and advanced reimbursement policies in the region. Asia Pacific exhibits the fastest growth due to rapidly developing healthcare infrastructure and growing medical tourism industry in the region.
Key players
Key players operating in the cardiac prosthetic devices market are Abbott., Artivion, Inc., Medtronic, Boston Scientific Corporation, Edwards Lifesciences Corporation., Siemens Healthcare Private Limited, LivaNova PLC (sorin group), Asahi Kasei Corporation., OSYPKA MEDICAL, Lepu Medical, MicroPort Scientific Corporation., Vitatron, Koninklijke Philips N.V., Progetti srl, and Shree Pacetronix Ltd.
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Cardiac Prosthetic Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period.
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Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
The numerical data is backed up by statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, PESTLE analysis and so on.
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The generated report is firmly based on primary research, interviews with top executives, news sources and information insiders.
Transparency Market Research in its recently published report on the global cardiac prosthetic devices market states that the market is extremely fragmented because of the presence of a copious number of players – both existing well-entrenched ones and upcoming ones.
To stay ahead of competition in such a market, players are seen banking upon product development by leveraging the latest technologies.Some of the companies that have come of hold substantial share in the market for cardiac prosthetic devices by banking upon the aforementioned and other strategies are Boston Scientific Corporation, Edwards Lifesciences Corporation, Sorin Group, Medtronic, Inc., and St. Jude Medical.Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=1721The report finds that rising at a healthy clip, the market’s estimated valuation would be US$5,290.0 million by 2019.Cardiac prosthetic devices can be broadly classified into heart valves and pacemakers.
From a geographical standpoint, North America at present holds a leading share because of the superior technology, updated infrastructure, and presence of well-trained healthcare professional.
Another factor stoking the market in the region is the rising instances of cardiovascular disease and sound healthcare and reimbursement policies.Request for Analysis of COVID-19 Impact on Cardiac Prosthetic Devices Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=1721Rising Pool of Elderly Highly Prone to Cardiac Conditions Drives MarketCardiac prosthetics devices supplant diseased or damaged part of a body – they mainly find usage in tackling of blockages in heart valves.
Prosthetic valve endocarditis (PVE), mechanical hemolytic anemia, prosthetic valve thrombosis (PVT), and thromboembolism are to name a few complications resulting from the failure of primary valves,” explains the lead analyst of our report.The cardiac prosthetics devices serve to reduce mortality and morbidity rates by replacing the diseased valves.
This has majorly fuelled demand for cardiac prosthetic devices.”Buy Cardiac Prosthetic Devices Market Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=1721=SFocus on Product Development Bodes Well for MarketIn addition to the surging cases of blockages in heart valves, the market for cardiac prosthetics devices is also being boosted by the continued thrust on product development.
