About Cardiac Medical Devices Market in the US
Atrial fibrillation (AF), a common type of heart arrhythmia, is a heart condition when the heart beats too fast or too slow or in an irregular way. An estimation done by the Centers for Disease Control and Prevention (CDC) in 2015 shows that in the US 2.7-6.1 million people were diagnosed with AF. It is most common in the older population, among people aged 60 years or above. This condition occurs when the heart's ability to function reduces and there is a malfunction in the electrical impulses in the heart, which leads to sudden cardiac arrest or heart failure.
Cardiac output such as an irregularity in the ventricular rate can lead to diastolic dysfunction. Hence, to reduce the risk of irregular heartbeat, especially for people that are at a higher risk of arrhythmia or have recurrent arrhythmia, cardiac medical devices such as pacemaker or implantable cardioverter defibrillators (ICD) are used to help the heart's electrical activity and heart rhythm function. These devices are small and are placed below the collar bone. Heart attacks can also cause defects in the heart valves, which can be replaced by mechanical or tissue heart valves.
Technavio’s analysts forecast the cardiac medical devices market in the US to grow at a CAGR of 1.82% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the cardiac medical devices market in the US for 2016-2020. Cardiac medical devices that are included in this report are implanted in the heart through minimally invasive surgeries. To calculate the market size, the report considers the revenue generated from the sales of the products.
The market is divided into the following segments based on product type:
Technavio Announces the Publication of its Research Report – Cardiac Medical Devices Market in the US 2016-2020
Technavio recognizes the following companies as the key players in the Cardiac Medical Devices Market in the US: Boston Scientific, LivaNova, Medtronic and St. Jude Medical.
Other Prominent Vendors in the market are: Abiomed, Adam, Rouilly, Advanced Instrumentations, A.M.I. ITALIA, Biotronik, Cardioline, Cardia International, Cardiac Science (subsidiary of Opto Circuits), Colibri Heart Valve, Corpuls, Edwards Lifesciences, EMTEL, Fukuda Denshi, HeartWare, Innomed, INSTRAMED, MEDIANA, M&B Electronic Instruments, Medical ECONET, Mindray Medical, Physio Control, PRIMEDIC, Prestan, Schiller, Spectranetics, SynCardia, Symetis, TTK Healthcare and WNL Products.
Commenting on the report, an analyst from Technavio’s team said: “Vendors are increasingly involving in mergers and acquisitions as a business strategy to expand their operation and market share. Acquisitions of small companies by large vendors help large players increase their product portfolio.”
According to the report, the market is growing due to the increased sales of cardiac rhythm management (CRM) devices. Increasing incidence and prevalence of cardiac disorders such as bradycardia, ventricular fibrillation, and tachycardia can lead to sudden cardiac arrest. To treat these patients, CRM devices are implanted that can boost the growth of the market.
Further, the report states that high cost associated with cardiac devices is hindering the growth of the market.
Boston Scientific, LivaNova, Medtronic, St. Jude Medical, Abiomed, Adam, Rouilly, Advanced Instrumentations, A.M.I. ITALIA, Biotronik, Cardioline, Cardia International, Cardiac Science (subsidiary of Opto Circuits), Colibri Heart Valve, Corpuls, Edwards Lifesciences, EMTEL, Fukuda Denshi, HeartWare, Innomed, INSTRAMED, MEDIANA, M&B Electronic Instruments, Medical ECONET, Mindray Medical, Physio Control, PRIMEDIC, Prestan, Schiller, Spectranetics, SynCardia, Symetis, TTK Healthcare, WNL Products.
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