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The cardiac prosthetic devices market share is expected to increase to USD 5.87 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.02%.
This cardiac prosthetic devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cardiac prosthetic devices market segmentation by product (prosthetic heart valves and implantable pacemakers) and geography (North America, Europe, Asia, and Rest of World (ROW)). The cardiac prosthetic devices market report also offers information on several market vendors, including Abbott Laboratories, Anteris Technologies Ltd., BIOTRONIK SE and Co KG, Boston Scientific Corp., Braile Biomedica, Colibri Heart Valve LLC, Cryolife Inc., Edwards Lifesciences Corp., Jc Medical Inc., JenaValve Technology Inc., Lepu Medical Technology Beijing Co. Ltd., LivaNova Plc, Medtronic Plc, Meril Life Sciences Pvt. Ltd., Merit Medical Systems Inc., MicroPort Scientific Corp., OrbusNeich Medical Co. Ltd., Shree Pacetronix Ltd., TTK Healthcare Ltd., and Venus Medtech Hangzhou Inc. among others.
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The rising prevalence of cardiac disorders is notably driving the cardiac prosthetic devices market growth, although factors such as complications associated with implantation of cardiac prosthetic devices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cardiac prosthetic devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Cardiac Prosthetic Devices Market Driver
Key Cardiac Prosthetic Devices Market Trend
Key Cardiac Prosthetic Devices Market Challenge
This cardiac prosthetic devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global cardiac prosthetic devices market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cardiac prosthetic devices market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the cardiac prosthetic devices market encompasses successful business strategies deployed by the key vendors. The cardiac prosthetic devices market is fragmented and the vendors are deploying growth strategies such as investment in R&D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The cardiac prosthetic devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the cardiac prosthetic devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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42% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for cardiac prosthetic devices in North America. Market growth in this region will be faster than the growth of the market in Europe and ROW.
The high prevalence of heart disorders such as CHD, and rise in the adoption of tissue valves, the increase in the adoption of MI procedures, and the growing geriatric population will facilitate the cardiac prosthetic devices market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic has had a far-reaching impact on various industries in North America. During the COVID-19 phase, the US has suffered a lack of proper medical services for heart surgeries due to the limited availability of beds and other healthcare facilities. However, the market has been growing positively since 2021, as the disease has been brought under control with the advent of COVID-19 vaccines. The outbreak also prompted vendors to develop new business strategies, such as online promotional activities and training for doctors, to raise the demand for healthcare equipment. This will help the regional market to grow during the forecast period.
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The cardiac prosthetic devices market share growth by the prosthetic heart valve segment will be significant during the forecast period. The continuous product development by the key vendors such as Abbott Laboratories, Edwards Lifesciences Corp., and others, and the involvement of the key players, along with the rise in procedural volume is anticipated to drive the segment growth in the forecast years. For instance, in December 2021, Edwards Lifesciences Corp. announced to broaden the adoption of its flagship aortic surgical heart valve, INSPIRIS RESILIA, along with the KONECT RESILIA valved conduit.
This report provides an accurate prediction of the contribution of all the segments to the growth of the cardiac prosthetic devices market size and actionable market insights on post COVID-19 impact on each segment.
Cardiac Prosthetic Devices Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.02% |
Market growth 2022-2026 |
$ 5.87 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.42 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 42% |
Key consumer countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abbott Laboratories, Anteris Technologies Ltd., BIOTRONIK SE and Co KG, Boston Scientific Corp., Braile Biomedica, Colibri Heart Valve LLC, Cryolife Inc., Edwards Lifesciences Corp., Jc Medical Inc., JenaValve Technology Inc., Lepu Medical Technology Beijing Co. Ltd., LivaNova Plc, Medtronic Plc, Meril Life Sciences Pvt. Ltd., Merit Medical Systems Inc., MicroPort Scientific Corp., OrbusNeich Medical Co. Ltd., Shree Pacetronix Ltd., TTK Healthcare Ltd., and Venus Medtech Hangzhou Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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