From 2022 to 2027, it is expected that global sales of cardiac prosthetic devices would grow at a CAGR of 7.6%. The market for cardiac prosthetic devices is expected to grow from its current value of US$ 6.6 billion in 2022 to US$ 9.5 billion by 2027.
Through 2027, the market for implantable pacemakers is anticipated to grow at a rapid CAGR of 8%. Implantable pacemakers boost blood flow and increase heart efficiency in comparison to traditional pacemakers. They also provide a few more advantages including accurate shock delivery and heart rate sensing.
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Major Stakeholders
- CryoLife, Inc.
- TTK Healthcare
- Venus Medtech
- Vitatron
- Abiomed, Inc.
- AtriCure, Inc.
- Biotronik
- Boston Scientific Corporation
- Braile Biomedica
- Abbott Laboratories
- Edwards Lifesciences Corporation
- Labcor Laboratrios
- Lepu Medical Technology Co. Ltd.
- Lifetech Scientific
Winning Strategy
Top market players are focusing on enhancing the safety of cardiac prosthetic devices, which is anticipated to boost demand for such products. Key companies are concentrating on their product pipelines and forming strategic agreements with other businesses to increase their visibility.
Key manufacturers of cardiac prosthetic devices are engaged in creating innovative prosthetic devices, lowering costs, and increasing their market share in undeveloped areas.
For instance,
- Abbott introduced a novel minimally-invasive heart valve replacement device to address mitral regurgitation caused by heart failure.
- In 2020, CMS increased its coverage for artificial hearts and ventricular assist devices with the fulfilment of the Medicare regulations to provide more patients with a range of prosthetic heart devices such as Abbott’s HeartMate 3.
Industry Research Segments
- By Product Type :
- Implantable Pacemakers
- External Pacemakers
- Transcatheter Heart Valves
- Tissue Heart Valves
- Mechanical Heart Valves
- By End User :
- Hospitals
- Specialty Centers
- Ambulatory Surgical Centers
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Covered in the Cardiac prosthetic devices report
- What is the projected value of the Cardiac prosthetic devices in 2023?
- At what rate will the global automotive active health-monitoring systems grow until 2033?
- Which are the factors propelling the growth in the Inspection management software?
- Which region is expected to lead in the global Cardiac prosthetic devices during 2023 to 2033?
- Which are the factors driving the Cardiac prosthetic devices during the forecast period?
- What is the expected market value of the Cardiac prosthetic devices during the forecast period?
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