Top Insights on the Global Cardiac Prosthetic Devices Market | Technavio

Technavio has published a new market research report on the global cardiac prosthetic devices market from 2017-2021. (Graphic: Business Wire)

LONDON--()--The latest market research report by Technavio on the global cardiac prosthetic devices market predicts a CAGR of close to 14% during the period 2017-2021.

The report segments the global cardiac prosthetic devices market by product (prosthetic heart valves and implantable cardiac pacemakers), by end-user (hospitals, ASCs, and cardiac centers), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global cardiac prosthetic devices market, according to Technavio healthcare and life sciences researchers:

  • Rising prevalence of cardiac disorders: a major market driver
  • In 2016, the implantable cardiac pacemaker segment dominated the market by occupying around 57% of the market share
  • In 2016, the Americas accounted for the highest share in the global cardiac prosthetic devices market with approximately 46% share
  • Medtronic, Edwards Lifesciences, LivaNova, St. Jude Medical, and Boston Scientific are the key players in the market

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Rising prevalence of cardiac disorders: a major market driver

Rising prevalence of cardiac disorders is one of the major factors driving the global cardiac prosthetic devices market. Over the past few years, the prevalence of cardiac disorders such as bradycardia, sick sinus syndrome, valvular diseases, atrioventricular blocks, ventricular fibrillation, cardiac arrest, and tachycardia has increased across the globe. Cardiac arrest is a leading cause of death worldwide among adults aged above 40 years. Additionally, several cardiovascular disorders such as stroke, rhythm disorders, congenital heart disease, subclinical atherosclerosis, and peripheral arterial disease are other major clinical complications increasing the need for cardiac prosthetic devices.

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Americas: largest cardiac prosthetic devices market

In 2016, the Americas accounted for the highest share of the global cardiac prosthetic devices market with 46% share. The cardiac prosthetic devices market in the Americas is growing at a substantial rate due to the high prevalence of heart disorders such coronary heart disease (CHD), heart valve diseases, stenosis, and atresia across the globe. The rise in adoption of stentless tissue valves, increase in adoption of MI procedures, and growing geriatric population are other factors behind the increased sales of cardiac prosthetic devices.

According to Barath Palada, a lead analyst at Technavio for research on cardiovascular devices, “The cardiac prosthetic devices market in the Americas is predicted to grow at a moderate pace during the forecast period. This is due to the technological advances, new product approvals, growing geriatric population, recent upgradation of Medicare policies, and higher adoption of the transcatheter aortic valve replacement devices in this region. The increasing demand for heart valves will continue to drive the market growth.”

Competitive vendor landscape

The global cardiac prosthetic devices market provides substantial growth opportunities for vendors to increase their market share. The market presents a wide opportunity for M&A. For instance, LivaNova acquired the Sorin Group that helped the company to enter the global cardiac prosthetic devices market as one of the leading players. Vendors are implementing innovative strategies to remain competitive in the market. Large companies plan to enter newer markets through M&A. Vendors are also concentrating on their product pipelines and undergoing strategic alliances with other companies to expand their presence and improve their technologies.

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Contacts

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

Release Summary

The latest market research report by Technavio on the global cardiac prosthetic devices market predicts a CAGR of close to 14% during 2017-2021.

Contacts

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