Cardiac medical devices market forecast in the US
According to the cardiac medical devices market industry analysis, Technavio’s market research analyst predicts the cardiac medical devices market in the US to grow at a CAGR of around 2% by 2020. The rising incidences of cardiac disorders such as bradycardia, sick sinus syndrome, atrioventricular blocks, ventricular fibrillation, cardiac arrest, and tachycardia is expected to propel the cardiac medical devices market growth in the US during the forecast period. With aging, the heart muscles lose their elasticity and ability to respond to different pressure rates, which in turn, makes older people more susceptible to cardiac disorders. In 2011, the American Heart Association estimated that about 326,200 people experienced out-of-hospital, sudden cardiac arrests in the US of which merely 10% survived due to immediate hospitalization. CRM devices such as automated external defibrillators can be used as an emergency life-saving measure in the advent of a sudden cardiac arrest. The rising incidences of sudden cardiac arrests will bolster the market growth for CRM devices in the US.
With the increasing popularity of robot-assisted surgery, the market for cardiac medical devices has a positive outlook until the end of 2020. Based on the cardiac medical devices market trends, the robot-assisted devices help surgeons perform complicated surgeries by providing a better visualization platform compared to traditional devices. This technology also allows easy maneuvering of surgical instruments within close-fitting spaces with utmost precision and control. Also, these minimally invasive surgical procedures enable patients to experience faster recoveries and less scarring than what is entailed during traditional invasive procedures. The preference for robotic-assisted surgery is expected to drive the market growth for cardiac medical devices in the US during the forecast period.
Product segmentation and analysis of the cardiac medical devices market
- Cardiac rhythm management (CRM) devices
- Cardiac assist devices
- Heart valves
In this market research, the analyst predicts the CRM devices segment to surpass USD 4 billion during the forecast period. However, this market segment will witness a slight decline in its overall market share due to the saturation of pacemaker implantation among the US population.
Competitive landscape and key vendors
The cardiac medical devices market in the US is highly fragmented due to the presence of numerous small and large suppliers. Factors like increased product portfolio extensions, advances in technology, and reduced average selling prices have resulted in intense competition among vendors. The increasing level of competition in this market may lead to vendors reducing their product prices, which in turn could negatively impact their profit margins and market growth potential. Also, large vendors are acquiring small cardiac medical device manufacturers to extend their product pipelines with innovative technologies. Such acquisitions are expected to increase the market competition and lead to the entry of other big vendors.
The leading vendors in the market are
- Medtronic
- St. Jude Medical
- Boston Scientific
- LivaNova
Other prominent vendors in the market include Abiomed, Adam, Rouilly, Advanced Instrumentations, A.M.I. ITALIA, Biotronik, Cardioline, Cardia International, Cardiac Science, 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.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the cardiac medical devices market in the US?
- What are the key market trends impacting the growth of the cardiac medical devices market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the cardiac medical devices market in the US?
- What are the trending factors influencing the market shares of the US?
- What are the key outcomes of the five forces analysis of the cardiac medical devices market?
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Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
- Market overview
- Product offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
PART 05: Regulation and reimbursement scenario in US
- Average price provided by Medicare for cardiac medical device implantation
PART 06: Market landscape
- Market overview
- Market size and forecast
- Five forces analysis
PART 07: Market segmentation by product type
- CRM devices
- CRM devices market in US
- Cardiac assist devices
- Cardiac assist devices market in US
- Heart valves
- Heart valves market in US
PART 08: Market drivers
- Prevalence of cardiac disorders
- Shortage of heart donors
- Increase in public awareness
PART 09: Impact of drivers
PART 10: Market challenges
- Product recalls
- High cost of cardiac devices
- Regulatory complications
- Intense competition
- Complications of CRM devices
PART 11: Impact of drivers and challenges
PART 12: Market trends
- Use of MRI in clinical applications
- Popularity of robot-assisted surgery
- Increase in M&A
PART 13: Vendor landscape
- Competitive scenario
- Market share analysis
- Boston Scientific
- Medtronic
- LivaNova
- St. Jude Medical
- Other prominent vendors
PART 14: Appendix
PART 15: Explore Technavio