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Cardiac Prosthetic Devices Market Trends

  • Report ID: GMI1965
  • Published Date: Aug 2023
  • Report Format: PDF

Cardiac Prosthetic Devices Market Trends

Increasing prevalence of cardiovascular diseases globally is expected to propel the market trends. Cardiovascular diseases encompass a range of conditions that affect the heart and blood vessels, including coronary artery disease, heart failure, arrhythmias, and valvular heart diseases. For instance, according to the WHO data, in 2021, around 17.9 million people globally faced mortality due to cardiovascular diseases and is one of the leading cause of death globally. These conditions contribute to the demand for cardiac prosthetic devices that can replace or repair damaged heart valves.
 

As the global population ages, the risk of developing cardiovascular diseases increases leading to an increased demand these devices among aging population. Modern lifestyles characterized by poor dietary habits, sedentary behaviour, and stress contribute to the prevalence of cardiovascular risk factors such as obesity, hypertension, and diabetes. These risk factors increase the likelihood of heart conditions and the need for interventions like cardiac prosthetic devices.
 

Improved awareness about cardiovascular devices and advancements in diagnostic techniques have led to earlier detection and diagnosis of heart conditions, leading to a higher demand for treatment options. Technological advancements have made cardiac prosthetic devices safer, more durable, and effective. This has broadened the treatment options available to patients and increased the adoption of these devices. As the burden of heart conditions rises, the demand for effective treatments like cardiac prosthetic devices is expected to grow, thereby driving the expansion of the market.

Authors: Mariam Faizullabhoy , Shishanka Wangnoo

Frequently Asked Questions (FAQ) :

Cardiac prosthetic devices industry value was USD 7.2 billion in 2022 and is projected to reach over USD 16.4 billion by the end of 2032.

The hospitals segment held a dominant market share worth USD 3.5 billion in 2022 and will expand through 2032 as cardiac prosthetic devices play a pivotal role in providing medical care, including cardiac interventions and procedures.

North America cardiac prosthetic devices market size was more than USD 3 billion in 2022 and is expected to witness substantial growth through 2032 owing to factors like the presence of significant players, increasing prevalence of cardiovascular diseases, technological advancements, access to healthcare, and an aging population.

Abbott Laboratories, Abiomed, Inc., AtriCure, Inc., Biotronik, Boston Scientific Corporation, CryoLife, Inc., Edwards Lifesciences Corporation, Labcor Laboratrios, Lepu Medical Technology Co. Ltd., Lifetech Scientific, LivaNova, Medtronic plc., Meril Life Sciences Pvt. Ltd., MicroPort Scientific, Siemens Healthcare GmbH among others.

Cardiac Prosthetic Devices Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 259
  • Countries covered: 20
  • Pages: 160
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