Pune, India, May 07, 2019 (GLOBE NEWSWIRE) -- Market Research Future (MRFR)’s study has found out that the global cardiac implants market is expected to scale a CAGR of 7.82% CAGR during the forecast period 2018 to 2023. The study further reveals that the market is prognosticated to reach a valuation of USD 38,054.3 Mn by the close of 2023.
The increasing occurrences of Cardiovascular Diseases (CVDs)have revolutionized the revenue model of the healthcare sector. The Centers for Disease Control and Prevention (CDC) has underlined in its report, which was published in 2017, that 2.7 to 6.1 million people in the U.S. alone suffered from atrial fibrillation, a common form of heart arrhythmia. People are getting increasingly aware of the risks associated with heart diseases which has led to a drastic increase in healthcare expenditure. A similar trend is expected to be exhibited in the years to come, thus, catapulting the cardiac implants market on an upward trajectory.
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Cardiac implants enable the monitoring and maintenance of normal functions of the heart and are expected to be in excessive demand over the next couple of years. The rising elderly population has unleashed growth opportunities to the cardiac implants market as cardiovascular diseases are more prevalent among them. It has been observed that the heart and blood vessels become stiff due to aging which is the root cause of increasing CVDs among the older people. It can lead to heart failure, coronary artery disease, atrial fibrillation, etc. which is expected to motivate the growth trajectory of the market over the assessment period.
Key players are focusing on the introduction of innovative implants for addressing the rising need for effective heart treatments. Technological innovations are presumed to dictate the growth pattern of the cardiac implants market in the foreseeable future. Also, the market is likely to witness the inflow of investments for research & development activities. Case to the point is, Israeli scientists have developed fully personalized tissue implants for heart, brain and spinal cord from the patient’s stomach cells which won’t be rejected by the body. However, the high cost of implants is anticipated to check market growth in the forthcoming years.
Key Players:
The prominent players operating in the cardiac implants market are –
- Abbott (US)
- Edwards Lifesciences Corporation (US)
- Amg International (Germany)
- B. Braun Melsungen AG (Germany)
- Boston Scientific Corporation (US)
- Biotronik (US)
- LivaNova PLC (UK)
- SynCardia Systems, Inc. (Arizona)
- Medtronic Plc (US)
- Terumo Corporation (Japan)
Market Segmentation:
This MRFR report presents a detailed segmental analysis of the global cardiac implants market based on device, indication, and end-user. Based on device, the market has been segmented into implantable loop recorder/implantable cardiac monitor, cardiac rhythm management devices, prosthetic heart valve devices, coronary stents, ventricular assist devices, and others.
By indication, the market has been segmented into arrhythmias, myocardial ischemia, acute myocardial infarction, heart failure, and others.
The cardiac implants market, by end-user, has been segmented into hospitals, cardiac care centers, ambulatory centers & home care, academic institutes, and others.
Americas Expected to Exhibit Positive Growth
The geographical assessment of the global Cardiac Implants Market spans across four major regions - Americas, Europe, Asia Pacific, and the Middle East and Africa (MEA). Americas is expected to strike a healthy growth rate owing to the large-scale adoption of cardiac implantable electronic devices in North America. The region is also observing an increase in the patient population which is prognosticated to aid the proliferation of the market. Europe is forecasted to demonstrate similar growth trends in the foreseeable future.
Browse the market data and information spread across 163 pages with 196 data tables and 21 figures of the report “Cardiac Implants Market- Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/cardiac-implants-market-6726
Asia Pacific signifies strong growth potential and is poised to expand at a relatively higher CAGR through the projection period. The boom witnessed in the medical tourism of the region is one of the key factors expected to contribute towards the expansion of the cardiac implants market during the forecast period. On the contrary, the Middle East & Africa holds the least share of the market and is anticipated to signify restricted growth in the forthcoming years.
Latest Industry News:
Medtronic plc, the world's largest medical device company, is set to acquire EPIX Therapeutics, which is a designer of temperature-controlled, catheter-based cardiac ablation systems used for the treatment of cardiac arrhythmias. The move is aimed at the expansion of Medtronic’s cardiac ablation portfolio.
CorMatrix Cardiovascular, Inc., a medical device company, has announced the launch of the study of its Cor Tricuspid ECM cardiac valve designed for treating adults suffering from endocarditis as well as pediatric patients with congenital heart valve disease.
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