The global cardiac prosthetic device market size is expected to be over USD 8.7 billion by 2025, based on a new study by Grand View Research, Inc. Rising demand for minimally invasive devices has provided greater growth prospects for the market. New product development through technological advancements is anticipated to foster market growth. The major companies are focusing on expanding their product life and safety benefits of the cardiac prosthetic devices. Such initiatives undertaken by the key players have resulted in increasing survival rates and low stroke rates for transcatheter aortic valves.
Transcatheter aortic valve
replacement (TAVR) is covered by Evidence Development (CED) Coverage provided
by the Centers for Medicare & Medicaid Services (CMS). Cardiac pacemakers
are also covered under Medicare program. Initiatives for reimbursement from the
government for such devices are anticipated to boost the demand for cardiac
prosthetic devices.
For Full Research Report On Cardiac Prosthetic Devices Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/cardiac-prosthetic-devices-market
Further Key
Findings From the Study Suggest:
- Heart valve segment was one
of the largest segments in 2015 owing to rising prevalence of valvular
disease and heart valve failure.
- Pacemakers segment is
expected to grow significantly, owing to rising reimbursement policies for
pacemaker-related surgeries.
- Mechanical heart valve
segment contributed toward the one of the largest market share in 2015
owing to its increasing product longevity. Moreover, they provide better
hemodynamic efficiency. Since mechanical valves are made up of strong
durable materials, such as titanium and carbon, they are preferred over
other cardiac prosthetic devices.
- Transcatheter valve is expected
to exhibit lucrative CAGR over the forecast period. TAVR has shown
improved patient survival rate as compared to medical therapy. In the past
years, it has evolved as a minimally invasive alternative treatment for
surgical valve replacement.
- Implantable pacemakers are
one of the highest revenue generating segments owing to their greater
applicability pertaining to heart failure (HF) and other cardiovascular
diseases like stroke.
- North America contributed
toward the largest market share of around 40.0% in 2015. This is primarily
due to the fact that the number of pacemaker implantations has increased
amongst the Americans over the past two decades. Moreover, companies are
focusing on commercial availability of technologically advanced devices in
the U.S.
- Asia Pacific is anticipated
to witness highest CAGR over the forecast period owing to the growing
geriatric population in Japan. In 2015, the geriatric population base
accounted for around 27% in Japan.
- Some key companies
in cardiac prosthetic devices market are Medtronic, Inc.; St. Jude
Medical, Inc.; Boston Scientific Corporation; Edwards Lifesciences
Corporation; Abbott Vascular; Siemens Healthcare GmbH; and Sorin Group.
- New product development
through introduction of advanced technology and mergers & acquisitions
are some of the key strategies adopted by the companies to enhance the
demand for cardiac prosthetic devices. For instance, in 2015, St. Jude
Medical and Thoratec, a company that specializes in mechanical circulatory
support technology for the treatment of advanced HF, entered into a
definitive agreement aiming at acquisition of the outstanding shares of
Thoratec.
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/cardiac-prosthetic-devices-market/request/rs1
Grand View Research has segmented
the global cardiac prosthetic device market on the basis of product:
Cardiac Prosthetic
Device Product Outlook (Market Revenue in USD Million, 2014 - 2025)
- Heart valves
- Mechanical valve
- Tissue valve
- Stented tissue valve
- Stentless tissue valve
- Transcatheter valve
- Pacemakers
- Implantable pacemakers
- Single-Chamber Battery
Pacemaker
- Dual-Chamber Battery
Pacemaker
- Triple-Chamber Battery
Pacemaker
- External pacemakers
Cardiac
Prosthetic Device Regional Outlook (Market Revenue in
USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Middle East and Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment