Cardiac Restoration Systems Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, China - Size and Forecast 2024-2028

Cardiac Restoration Systems Market 2024-2028

The global cardiac restoration systems market size is estimated to grow by USD 190.53 million at a CAGR of 5.84% between 2023 and 2028. 

Medical tourism refers to patients traveling to countries such as Singapore, Malaysia, Thailand, and India to obtain medical treatment with high-quality healthcare, affordability, and accessibility benefits. Emerging economies are increasingly becoming destinations for medical tourists seeking cardiac restoration procedures. These countries may offer cost-effective healthcare options compared to developed nations. As a result, the patient pool for cardiac restoration systems in emerging economies can expand significantly. Emerging economies such as India are investing in state-of-the-art healthcare facilities and technology to attract medical tourists. Medical tourism is a booming industry, as each medical expertise is focused on offering niche services to attract foreign patients. Thus, the rise in the quality of medical services and infrastructure in developing economies is a contributor to the growth of medical tourism, which will drive the growth of the cardiac restoration systems market during the forecast period.

Technavio has segmented the market into end-user, product and geography

• The end-user segment is classified into hospitals, ambulatory surgery centers, and cardiac clinics and others. 
• The product  segment is classified into mitral valve restoration systems and left ventricular restoration systems
• The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW)

It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018 to 2022, besides analyzing the current market scenario.

What will be the Size of the Cardiac Restoration Systems Market During the Forecast Period?

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Cardiac Restoration Systems Market Segmentation by End-user, Product and Geography Analysis

End-user Analysis 

Hospitals

The market share growth by the hospitals segment will be significant during the forecast period. Hospitals are specialized healthcare institutions that offer best-in-class diagnosis and treatment services to patients with acute and complex conditions. Hospitals include both multispecialty hospitals and general government hospitals where patients with different types of diseases, including CVDs, are diagnosed and treated. 

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The hospitals segment was the largest and was valued at USD 207.03 million in 2018. Hospitals usually procure cardiac restoration systems in bulk at a better cost structure through bidding from cardiac restoration systems manufacturers and suppliers. Mid-sized and small-sized hospitals have fewer supplier groups; unlike large hospitals, the administration of these hospitals is often decentralized. Mid-sized hospitals are easily accessible to people, and their number is higher than that of large hospitals. Mid-sized hospitals (accommodating 200-300 beds) are key end-users in the global cardiac restoration systems market. They depend more on local suppliers than key vendors since local vendors provide low-cost products. Thus, these factors will contribute to the growth of the hospital segment, which will boost the growth of the global cardiac restoration systems market during the forecast period.

Product Analysis  

Mitral valve restoration systems

Mitral valve restoration systems are effective in treating patients with severe mitral valve regurgitation conditions, where the posterior leaflet is partially or completely dysfunctional or destroyed. One of the primary advantages of mitral valve restoration systems is that they aim to preserve the patient natural mitral valve. Moreover, mitral valve restoration procedures are often less invasive than valve replacement surgeries. As a result, patients may experience shorter hospital stays and quicker postoperative recoveries, allowing them to return to their normal activities sooner. Thus, factors such as preservation of natural valve function with improved valve function will contribute to the growth of the mitral valve restoration systems segment, which will boost the growth of the global cardiac restoration systems market during the forecast period. 

Left ventricular restoration systems

Left ventricular restoration systems are less invasive devices used to reduce left ventricular volume and restore heart geometry. The primary goal of left ventricular restoration systems is to enhance the function of the left ventricle, which is responsible for pumping oxygenated blood to the rest of the body. Conventionally, left ventricular restoration devices are used with surgical interventions such as partial left ventriculostomy and surgical ventricular restoration. However, in recent times, left ventricular restoration devices have been used as standalone devices, which has resulted in a rise in the adoption of these restoration systems. Thus, these factors will promote the growth of the left ventricular restoration systems segment, which will propel the growth of the market in focus during the forecast period.

Regional Analysis

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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The cardiac restoration systems market in North America was driven by the presence of well-equipped and established healthcare infrastructure, the availability of highly skilled professionals, and the presence of extensive healthcare insurance coverage. In addition, increasing R&D expenditure of vendors, high adoption of technologically advanced products, and the availability of less invasive treatments are contributing to the market growth in North America. The US is the major revenue contributor to the market in North America, owing to extensive healthcare insurance coverage from the Centers for Medicare and Medicaid Services (CMS).

In addition, the strong presence of well-established medical and healthcare infrastructure, the growing ageing population, and the rising incidence of CVDs such as mitral valve regurgitation and ischemic heart disease in the US are contributing to the market growth in North America. According to the CDC, every year, one out of four mortalities occur in the US due to heart disease. Furthermore, the increasing medical tourism for performing minimally invasive cardiac procedures due to the availability of low-cost treatment, highly skilled surgeons, and high-quality services is also driving the growth of the cardiac restoration systems market in the country. Such factors are expected to drive market growth in the region during the forecast period.

COVID Recovery Analysis

The outbreak of COVID-19 in 2020 negatively impacted the regional cardiac restoration systems market. However, in 2021, due to mass vaccination drives and the lifting of lockdown restrictions, the growth of the market in focus was accelerated. Furthermore, in countries like the United States and Canada, health insurance coverage is prevalent, ensuring that a large portion of the population can access cardiac restoration procedures and devices without significant financial barriers. Such factors are expected to drive the growth of the market in focus in the region during the forecast period.

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Key Cardiac Restoration Systems Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:

Ancora Heart Inc. - The company offers cardiac restoration systems such as Mitraclip Transcatheter Mitral Valve Repair which delivers a minimally invasive treatment option for patients with primary or secondary mitral regurgitation.

• Artivion Inc.
• Baxter Regional Medical Center
•  BioVentrix Inc.
• Edwards Lifesciences Corp.
• Medtronic Plc
• NeoChord Inc.
• Syntach AB
• Xeltis AG
• Abbott Laboratories

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Cardiac Restoration Systems Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. 

Key Cardiac Restoration Systems Market Drivers

Rising healthcare expenditure is notably driving market growth. High healthcare expenditure can lead to the availability of more advanced cardiac procedures and treatments. Healthcare infrastructure, including the construction of specialized cardiac centers and hospitals, may receive increased investment. These facilities often require the latest cardiac restoration equipment, contributing to market growth. Increased healthcare spending can accelerate technological advancements in the field of cardiac restoration systems. Manufacturers may have more resources to invest in research and innovation. 

Moreover, healthcare expenditure can fund training programs and educational initiatives for healthcare professionals specializing in cardiac care since well-trained professionals are essential for the effective use of cardiac restoration systems. Thus, rising healthcare expenditure will impel the growth of the global cardiac restoration systems market during the forecast period.

Significant Cardiac Restoration Systems Market Trends

Growing awareness about cardiac restoration systems is an emerging trend shaping the market growth. The increasing incidence of heart valve diseases, such as mitral valve regurgitation, has led to an increase in awareness about cardiac restoration systems. Initiatives to raise awareness about heart valve diseases are held through conferences and hosting programs, which emphasize early diagnosis and treatment with cardiac restoration systems. Furthermore, companies are organizing campaigns to raise awareness among people about heart valve diseases. Players in the global cardiac restoration systems market are also aimed at conducting programs regularly to introduce their new product briefings and to create awareness about advanced treatment solutions available in the market.

For instance, in November 2021, Xeltis announced its plan to accelerate its clinical trial program for three restorative devices in parallel. Therefore, the rising awareness about cardiac restoration systems is expected to propel the growth of the market during the forecast period.

Major Cardiac Restoration Systems Market Challenges

A shortage of cardiologists is a major challenge hindering the market growth. Knowledge and skill in handling and using diagnostic and therapeutic tools play a major role in the early diagnosis and treatment of various CVDs. The lack of expertise increases the probability of misdiagnosis and improper treatment, which can have harmful effects on patients. The clinical practice of cardiologists is changing due to the emergence of new technologies. Cardiovascular surgical procedures such as surgical ventricular restoration require high technical and non-technical abilities to provide improved treatment.

However, the market has a shortage of skilled cardiologists for performing cardiac restoration surgical interventions.  The increasing rates of burned-out professionals also lead to a shortage of skilled professionals. Hence, the shortage of cardiologists can hinder the growth of the global cardiac restoration systems market during the forecast period.

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Key Cardiac Restoration Systems Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Cardiac Restoration Systems Market Customer Landscape

Segment Overview

The cardiac restoration systems market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• End-user Outlook (USD Million, 2018 to 2028)
  • Hospitals
  • Ambulatory surgery centers 
  • Cardiac clinics and others

• Product Outlook (USD Million, 2018 to 2028)
  • Mitral valve restoration systems
  • Left ventricular restoration systems

• Region Outlook (USD Million, 2018 to 2028)
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina
    • Australia

Cardiac Restoration Systems Market Scope
Report Coverage	Details
Page number	154
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 5.84%
Market Growth 2024-2028	USD 190.53 million
Market structure	Concentrated
YoY growth 2023-2024(%)	4.8
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 40%
Key countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Ancora Heart Inc., Artivion Inc., Baxter Regional Medical Center, BioVentrix Inc., Edwards Lifesciences Corp., Medtronic Plc, NeoChord Inc., Syntach AB, Xeltis AG, and Abbott Laboratories
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 the 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 Restoration Systems Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2024 and 2028
• Precise estimation of the cardiac restoration systems market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on the company's position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and the Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of cardiac restoration systems market companies

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