Global Cardiac Prosthetic Devices Market 2017-2021
About Cardiac Prosthetic Devices
Prosthetic devices are used to replace or support the function of an original organ. Cardiac prosthetic devices such as implantable cardiac pacemakers and heart valves are used to maintain/restore proper functionality of heart in people with chronic cardiovascular disorders such as heart attack and valvular diseases. Heart valves are used in patients with heart valvular disease or dysfunctional heart valves. Implantable cardiac pacemakers are used to treat most commonly atrial fibrillation, a common heart condition where the heart beats too fast or too slow or in an irregular way. It is commonly seen in older adult population.
Technavio’s analysts forecast the global cardiac prosthetic devices market to grow at a CAGR of 13.63% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global cardiac prosthetic devices market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cardiac Prosthetic Devices Market 2017-2021
Technavio recognizes the following companies as the key players in the global cardiac prosthetic devices market: Boston Scientific, Edward Lifesciences, LivaNova, Medtronic, and St. Jude Medical.
Other Prominent Vendors in the market are: BIOTRONIK, CardioKinetix, Colibri, Comed, JenaValve, Lepu medical technology, Merit Medical, Neovasc, On-X Life Technologies, Pacetronix, Transcatheter Technologies, and Vitatron.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is advances in technology. The demand of abnormal heart repayment has reiterated the advances in the interventional cardiology that include transcatheter aortic valve replacement (TAVR) and which further support the valve replacement through MI procedures over the open surgical procedures.”
According to the report, one driver in the market is rising prevalence of cardiac disorders. The prevalence of cardiac disorders such as bradycardia, sick sinus syndrome, valvular diseases, atrioventricular blocks, ventricular fibrillation, cardiac arrest, and tachycardia has increased globally over the past few years. Cardiac arrest is a leading cause of death worldwide among adults aged above 40 years. Further, various cardiovascular disorders such as stroke, rhythm disorders, congenital heart disease, subclinical atherosclerosis, and peripheral arterial disease are other major clinical complications increasing the need for cardiac prosthetic devices. The market is also witnessing higher sales of cardiac prosthetic devices.
Further, the report states that one challenge in the market is complications associated with implantation of cardiac prosthetic devices. Although, replacement of damaged heart valve or implantation of pacemakers are considered to be prominent ways for treating a damaged heart valve or controlling abnormal heart rhythms; however, heart valve implantation is directly associated with various complications which either way restrain the market growth of cardiac prosthetic devices. The rate of acute complications with pacemaker insertion arise within a day and is higher as compared to incidence of late complications of permanent pacemaker. The complications associated with transcatheter aortic valve implantation, while treating the patient living with aortic stenosis.
Boston Scientific, Edward Lifesciences, LivaNova, Medtronic, St. Jude Medical, BIOTRONIK, CardioKinetix, Colibri, Comed, JenaValve, Lepu medical technology, Merit Medical, Neovasc, On-X Life Technologies, Pacetronix, Transcatheter Technologies, and Vitatron.