Authored By: Sarah
11 Jul 2024

 Cardiac Prosthetic Devices Market Size to grow by USD 5077.3 million between 2024-2028

According to a research report “ Cardiac Prosthetic Devices Market” by Product (Prosthetic heart valves, Implantable pacemakers) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 5077.3 million, at a CAGR of  7.08% during the forecast period. The global prevalence of cardiac disorders, including bradycardia, sick sinus syndrome, valvular diseases, atrioventricular blocks, ventricular fibrillation, cardiac arrest, and tachycardia, has witnessed a significant rise in recent years. Cardiac arrest, a leading cause of death among adults aged above 40, underscores the growing need for cardiac prosthetic devices. Additionally, clinical complications such as stroke, rhythm disorders, congenital heart disease, subclinical atherosclerosis, and peripheral arterial disease further fuel market demand. Moreover, the increasing geriatric population, a demographic with a higher propensity for cardiovascular diseases, significantly contributes to the market's growth. Consequently, the sales of cardiac prosthetic devices have experienced robust growth due to these factors.

Browse market data tables, figures, and in-depth TOC on “Cardiac Prosthetic Devices Market” by Product (Prosthetic heart valves, Implantable pacemakers) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Product, the Prosthetic heart valves segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

The Cardiac Prosthetic Devices Market witnessed robust growth in the heart valves segment in 2023, driven by an increase in procedural volumes, expanding prevalence of valvular heart disease, and a growing older adult population in Europe. Technological advancements significantly bolstered market expansion, with interventional cardiology experiencing notable demand for minimally invasive procedures, such as transcatheter aortic valve replacement (TAVR), over traditional open surgery. The ease of retrieval and repositionability of advanced TAVR devices further fueled market growth.

North America is forecasted to hold the largest market size by region in 2024

The Cardiac Prosthetic Devices market encompasses innovative solutions designed to replace or support the heart's function. These devices, including pacemakers, implantable cardioverter defibrillators (ICDs), and left ventricular assist devices (LVADs), offer significant business opportunities due to the increasing prevalence of cardiovascular diseases. Market growth is driven by advancements in technology, rising healthcare expenditures, and an aging population. Companies focusing on research and development, strategic collaborations, and regulatory approvals will likely capture a larger market share.

The Cardiac Prosthetic Devices Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Abbott Laboratories
  • Anteris Technologies Ltd.
  • BIOTRONIK SE and Co. KG
  • Boston Scientific Corp.
  • Braile Biomedica
  • Colibri Heart Valve LLC
  • Cryolife Inc.
  • Edwards Lifesciences Corp.
  • Jc Medical Inc.
  • JenaValve Technology Inc.
  • Lepu Medical Technology Beijing Co. Ltd.
  • LivaNova PLC
  • Medtronic Plc
  • Meril Life Sciences Pvt. Ltd.
  • Merit Medical Systems Inc.
  • MicroPort Scientific Corp.
  • OrbusNeich Medical Co. Ltd.
  • Shree Pacetronix Ltd.
  • TTK Healthcare Ltd.
  • Venus Medtech Hangzhou Inc.
.

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Research Analysis Overview

The global market for Cardiac Prosthetic Devices is witnessing significant growth due to the increasing prevalence of cardiovascular disorders, including heart valve disorders, coronary artery diseases, and congenital heart defects. Government healthcare systems are playing a crucial role in driving demand for these devices, as they seek to improve diagnostic capabilities and provide better treatment options for patients. Cardiac MRI and echocardiography are commonly used diagnostic tools, while biocompatible materials, artificial heart valves, and suture-less valve replacements are key technologies driving market growth. Compact pacemakers and minimally-invasive procedures are also gaining popularity, as they offer less invasive alternatives to traditional surgery. Obesity and an ageing population are major risk factors for cardiovascular diseases, further fueling demand for cardiac prosthetic devices. Cardiac Centers are at the forefront of implantation techniques, using advanced technologies to improve outcomes for patients with heart valve disorders and other heart-related conditions. Minimally invasive surgeries are becoming increasingly common, allowing for faster recovery times and reduced risk of complications. Biomedical engineering advancements are also contributing to the development of more effective and durable cardiac prosthetic devices. Overall, the market for cardiac prosthetic devices is expected to continue growing, driven by the increasing burden of cardiovascular diseases and advancements in medical technology.

Market Research Overview

The Cardiac Prosthetic Devices Market encompasses a range of medical technologies designed to address various heart conditions, including transcatheter valves, artificial heart valves (stented tissue valves and stentless tissue valves), mechanical valves, implantable cardioverter-defibrillators (ICDs), ventricular assist devices (VADs), and pacemakers. These devices offer remote monitoring capabilities and wireless connectivity, enabling early detection and effective management of cardiac disorders. Transcatheter interventions and robotic-assisted surgeries have revolutionized the field, leading to minimally-invasive procedures for conditions like congenital heart defects, obesity, and cardiac disorders. Biocompatible materials ensure the devices integrate seamlessly with cardiac tissues, while diagnostic capabilities through cardiac MRI and echocardiography aid in accurate diagnosis and post-operative care. Government healthcare systems and private insurance providers offer comprehensive healthcare coverage for these procedures, making them accessible to a larger population. Cardiac centers specializing in heart valve disorders, coronary artery diseases, and valvular heart diseases employ cardiac nurses, interventional cardiologists, and cardiac surgeons to provide medical services. Minimally invasive procedures and implantation techniques have led to smaller pacemakers, such as compact pacemakers, Triple-chamber battery pacemakers, Dual-chamber battery pacemakers, Single-chamber battery pacemakers, and External pacemakers, as well as Implantable pacemakers. These devices play a crucial role in managing arrhythmias, heart failure, and coronary artery disease through nutrient transport, oxygen delivery, and blood circulation, as well as electrical impulses to regulate heart rhythms. As the ageing population continues to grow, the demand for cardiovascular diseases treatments, including cardiac surgeries and pacemaker implantations, is increasing. The healthcare infrastructure must adapt to meet this demand, focusing on minimally invasive procedures and advanced medical devices to improve patient outcomes and overall quality of care.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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