Cardiac Prosthetic Devices Market by Product and Geography - Forecast and Analysis 2022-2026

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.

What will the Cardiac Prosthetic Devices Market Size be During the Forecast Period?

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Cardiac Prosthetic Devices Market: Key Drivers, Trends, and Challenges

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

• One of the key factors driving the global cardiac prosthetic devices market growth is the rising prevalence of cardiac disorders such as bradycardia, valvular diseases, atrioventricular blocks, cardiac arrest, and tachycardia.
• In 2020, CVD accounted for approximately 19.05 million global deaths.
• The growing implantation of prosthetic cardiac valves for the treatment of the mitral valve and hemodynamically significant aortic-related disease has gained greater importance in recent years.
• The vendors are developing new cardiac prosthetic devices to cater to the market demand.
• Cardiac rhythm management devices such as implantable cardiac pacemakers can be used as a rapid lifesaving measure for a person with sudden cardiac arrest.
• In September 2021, Abbott Laboratories announced that the US FDA had approved the Portico with FlexNav TAVR system. It will treat people with symptomatic, severe AS at high or extreme risk for open-heart surgery.
• The rising prevalence of cardiac disorders will lead to growth in the market in focus during the forecast period.

Key Cardiac Prosthetic Devices Market Trend

• Advances in technology is one of the key cardiac prosthetic devices market trends that is expected to impact the industry positively in the forecast period.
• The evolution in valve surgery has been revolutionized owing to technological upgrading, which has led to better post-surgery outcomes.
• The vendors are competing technologically, and the manufacturers such as plc Medtronic and Edwards Lifesciences have a strong presence in the global market owing to the wide range of technologically advanced products in their products category.
• In March 2022, Medtronic plc announced it had received US FDA approval for its Harmony TPV, the first minimally invasive therapy created to treat patients with a particular type of congenital heart defect of the RV.
• In September 2020, Boston Scientific Corp. announced it had initiated a controlled launch of the ACURATE neo2 Aortic Valve System in Europe, which is designed with a number of features to improve the clinical performance of the original ACURATE neo platform.
• The recent technology addition by the leading vendors will further support the concerned market growth in the forecast years.

Key Cardiac Prosthetic Devices Market Challenge

• One of the key challenges to the global cardiac prosthetic devices market growth is the complications associated with the implantation of cardiac prosthetic devices.
• The serious complications associated with TAVI include vascular injuries, stroke, and structural injury to the aorta, heart, and valves.
• The rate of acute complications with pacemaker insertion arises within a day and is higher as compared to the incidence of late complications of a permanent pacemaker.
• The complications associated with the pacemaker implantations include infection near the implanted area, bleeding, bruising, and swelling associated with the patient using blood thinners.
• The blood vessels and nerve damage near the pacemaker lead to lung collapse.
• Major operative failures such as pneumothorax, pericarditis, air embolism, hemothorax, erosion of the pacer, and hematomas are some of the other life-threatening complications associated with the pacemaker implantation.
• The range of serious complications associated with cardiac prosthetic device implantation procedures and devices will restrain the market growth in the forecast years.

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.

Parent Market Analysis

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.

Who are the Major Cardiac Prosthetic Devices Market Vendors?

The report analyzes the market's competitive landscape and 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.
• Venus Medtech Hangzhou Inc.

 

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.

Product Insights and News

• Abbott Laboratories - The company offers cardiac prosthetic devices that are designed to offer performance in 3 key areas which are hemodynamics, durability, and implantability.
• BIOTRONIK SE and Co KG - The company offers cardiac prosthetic devices with external PET skirting to plug microchannels that is used for minimally invasive surgical treatment of calcifying aortic stenosis in a native valve.

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.

Cardiac Prosthetic Devices Market Value Chain Analysis

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.

Which are the Key Regions for Cardiac Prosthetic Devices Market?

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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.

What are the Revenue-generating Product Segments in the Cardiac Prosthetic Devices Market?

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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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What are the Key Data Covered in this Cardiac Prosthetic Devices Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive cardiac prosthetic devices market growth during the next five years
• Precise estimation of the cardiac prosthetic devices market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the cardiac prosthetic devices industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of cardiac prosthetic devices market vendors

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