Cardiac prosthetic devices include mechanical and tissue prosthetic heart valves, annuloplasty rings, pacemaker and defibrillator leads, tissue patches, artificial hearts, and ventricular assist devices. These are used to replace the heart's native valves that have been harmed or become ill. Over the forecast period, rising levels of hypertension are anticipated to fuel market expansion for cardiac prosthetic devices worldwide. The market is also expected to rise as a result of increased research and product introductions.
Market Dynamics
The key market players are focused on adopting various growth strategies such as product launches, partnerships, and others to strengthen their product portfolio and geographical presence in the market, which in turn is expected to drive the growth of the global cardiac prosthetics devices market over the forecast period. For instance, on June 8, 2023, Abbott, a medical device company, announced result data for MitraClip, which is a transcatheter edge-to-edge repair (TEER) device, and TriClip, a first-of-its-kind minimally invasive tricuspid heart valve repair device. The data reinforce the capabilities of the company's structural heart solutions for both mitral and tricuspid regurgitation (MR and TR) across a broad range of patient groups battling leaky heart valves.
Similarly, in October 2022, Ceryx Medical, a medical device company, in partnership with Osypka Medical, a medical device company, announced the development of a heart-pacing device for patients with heart failure and other cardiac conditions
Furthermore, in February 2022, Abbott, a medical device company, announced the launch of patient implants of a dual-chamber leadless pacemaker system as part of its AVEIR DR i2i pivotal clinical study. The implant of Abbott's investigational Aveir dual-chamber leadless pacemaker represents technological leadless pacing technology.
Key features of the study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook