LONDON--(BUSINESS WIRE)--A new market research study by Technavio on the global cardiac restoration systems market projects the market to grow at a CAGR of more than 5% during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers, and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
A growing number of cardiovascular surgeries
Over the last few years, there has been a significant increase in the number of cardiovascular surgeries, including angioplasty, atherectomy, bypass surgery, cardiomyopathy, heart transplant, radiofrequency ablation, and surgical ventricular restoration. This is mainly due to the increasing prevalence of CVDs, rising healthcare expenditure, and the availability of health insurance that covers most of the cost for cardiovascular surgeries. Hence, the growing number of cardiovascular surgeries will drive the growth of the global cardiac restoration systems market during the forecast period.
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Growing awareness about cardiac restoration systems
The incidence of heart valve diseases such as mitral valve regurgitation is increasing significantly, which has led to an increase in initiatives taken to raise awareness about cardiac restoration systems. These initiatives include conferences and hosting programs, which emphasize on early diagnosis and treatment with cardiac restoration systems. Moreover, companies in the market are also organizing campaigns to raise awareness among people about heart valve diseases. Hence, the rising awareness about cardiac restoration systems is expected to propel the market growth during the forecast period.
According to a senior analyst at Technavio, “Vendors in the cardiac restoration systems market are increasingly focusing on implementing developmental strategies such as M&A and higher R&D investments to improve their market share and expand their presence globally. M&A activities are helping vendors to improve productivity and implement cost-saving. Thus, high R&D investments and M&A activities will boost the growth of the cardiac restoration systems market during the forecast period.”
Availability of alternatives
The healthcare industry offers a number of alternatives for the treatment of heart-related issues. Some of them include heart repair and replacement devices, commissurotomy, percutaneous balloon mitral valvuloplasty, and vitamin D medications. These alternatives provide improved cost-effective treatment care when compared to cardiac restoration systems. However, vendors in the market are constantly striving to bring advanced cardiac restoration system that can provide effective treatment at affordable costs. The constant R&D activities and new product launches will propel the adoption of cardiac restoration systems during the forecast period.
Top players in the global cardiac restoration systems market:
- BioVentrix Inc.
- CryoLife Inc.
- Edwards Lifesciences Corp.
- NeoChord Inc.
- Xeltis AG
Some of the key topics covered in the global cardiac restoration systems market include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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