The global cardiac prosthetic devices market will exhibit a growth at the rate of 9.3% CAGR during 2018 to 2026.
While cardiac diseases are on the rise due to many issues including genetic and lifestyle disorder, the cardiac valve dysfunction is the most common which would amplify the cardiac prosthetic devices market over the years.
ResearchMoz puts forth a detailed report and insights into the cardiac prosthetic devices market inclusive of market size, opportunities, growth drivers, trends, challenges, and competitive edge.
Technology to Uphold Cardiac Prosthetic Devices Market
Cardiac surgeries are no more the hardest and traditional which puts surgeons and patients at high stress. The researchers are always focusing on innovative product development using technology and leveraging its benefits. One such technology led the engineers and researchers to come up with Bionic Heart also known as ‘Biorobotic Hybrid Heart’ which acts as a real biological heart which removes the issues such as valve leakage prevalent in traditional devices. This device is also said to reduce the cost of device development, thus amplifying the market for cardiac prosthetics.
Mitral Valve Insufficiency to Bolster Demand for Cardiac Prosthetic Devices
American College of Cardiology says, around 4 million patients suffer from mitral valve disorder leading to demand for cardiac prosthetic devices. This trend would continue in the coming years. Alternatively, many benefits such as calcifications preventions, free from infections, etc would also make them preferred devices, resulting in boost in demand in the coming years.
Growing cases of abnormal heart rhythm in paediatric cases to accelerate the growth possibilities further.
Technology lays a strong foundation for the cardiac prosthetic devices market and the best example to cite here is ‘Bionic Heart’ which has the capabilities to overcome the challenges faced in the conventional devices. Increasing research and development and government support is providing the much backbone for the market to grow exponentially in the coming years.
In the age of technology, robotic surgeries are gaining traction, the surgeon uses robotic tools for precision and minimally invasive giving utmost comfort to the patients. The trend of robotic surgeries would amplify the global cardiac prosthetic devices market over the next few years, opines ResearchMoz
Voluminous Heart Replacements to Upsurge North America
So far North America led the global cardiac prosthetic devices market due to prevailing cases of cardiovascular diseases. This region will continue its dominance in the global market as compared to other regions. The growth in the region can be accounted to volume of patients undergoing valve replacement surgeries.
Asia Pacific will emerge as growing market as it continues to grow significantly during the forecast years. The growth of Asia Pacific will be primarily due to rising number of transcatheter aortic valve replacement surgeries. Also, the growth can be accounted to rising lifestyle diseases that leads to range of cardiovascular diseases.
ResearchMoz in its report enunciates the details of competitive edge of the global cardiac prosthetic devices market. The report explains about the prevailing competition and various innovative strategies adopted by the market players to thrive in the global arena.
These market players get a grip over the market through product innovation, acquisition, mergers, etc.
These market players in the cardiac prosthetic devices market are –
- Medtronic, Inc.
- Boston Scientific Corporation
- Abbott Vascular
- Sorin Group
- Boston Scientific Corporation
- Jude Medica
- Siemens Healthcare GmbH
Although the comprehensive report is available with ResearchMoz which elucidates the dynamics of the global cardiac prosthetic devices market with information based on facts, analysis, and market projections. The report will allow the stakeholder to take correct and informed decisions to thrive in this space.
Here are some of the key takeaways from the report
- The global cardiac prosthetic devices market will expand at a CAGR of 9.3% between 2018 t0 2026.
- Bionic Heart technology will drive the cardiac prosthetic devices market in the coming years
- The growing geriatric population would drive the cardiac prosthetic devices market in the coming years.
- The high cost of device development and surgeries may impede the market growth in the coming years.
- Regions like North America and Asia Pacific will accelerate growth in the global cardiac prosthetic devices market over the next few years.
Product Outlook (Revenue, USD Million)
- Heart valves
- Mechanical valve
- Tissue valve
- Stented tissue valve
- Stentless tissue valve
- Transcatheter valve
- Implantable pacemakers
- Single-Chamber Battery Pacemaker
- Dual-Chamber Battery Pacemaker
- Triple-Chamber Battery Pacemaker
- External pacemaker
- South Korea
Middle East & Africa (MEA