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Cardiac Prosthetic Devices Market Size Is Anticipated To Reach US$ 10,395.9 Million at a CAGR of 8.8% By 2027, Owing to Approval and Launch of New Devices

November 24th, 2020 Coherent Market Insights Releases

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Cardiac prosthetic devices include, prosthetic heart valves such as mechanical heart valve and tissue heart valve along with annuloplasty rings, pacemaker leads, defibrillator leads, tissue patches, ventricular assist devices, and artificial hearts.

Statistics:

The global cardiac prosthetic devices market is estimated to account for US$ 10,395.9 Mn in terms of value by the end of 2027.

Global Cardiac Prosthetic Devices Market: Drivers

Approval and launch of new devices is expected to propel growth of the global cardiac prosthetic devices market over the forecast period. For instance, in March 2020, SynCardia Systems, LLC received the U.S. Food and Drug Administration (FDA) approval for its 50cc temporary Total Artificial Heart (TAH) System as a bridge to heart transplant.

For more information, Request a FREE PDF Brochure @ https://www.coherentmarketinsights.com/insight/request-pdf/3862

Global Cardiac Prosthetic Devices Market: Opportunities

Development of devices with anti-fouling biomaterials is expected to offer lucrative growth opportunities for players in the global cardiac prosthetic devices market. Anti-fouling properties of poly(ethylene glycol), oligo(ethylene glycol), and zwitteronic species, limit the ability of microorganisms to adhere and form biofilms of the surface of the implanted prosthesis.

Global Cardiac Prosthetic Devices Market: Restraints

Stringent approval process of medical devices is expected to hinder growth of the market. For instance, in the U.S., cardiac prosthetic devices such as heart valves and pacemakers are regarded as class III high-risk medical devices. Therefore, these devices undergo rigorous safety and efficacy tests prior to receiving approval. Moreover, these devices need to obtain a premarket approval, which is an expensive and lengthy process.

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Key Takeaways:

The global cardiac prosthetic devices market was valued at US$ 5,290.0 Mn in 2019 and is forecast to reach a value of US$ 10,395.9 Mn by 2027 at a CAGR of 8.8% between 2020 and 2027. Increasing product approval and launch of new devices is expected to propel growth of the global cardiac prosthetic devices market over the forecast period.

Pacemaker segment held dominant position in the global cardiac prosthetic devices market in 2019, accounting for 66.4% share in terms of value. Increasing incidence and prevalence of cardiovascular diseases in developing and developed economies is anticipated to assist the growth of the segment.

Market Trends

Increasing prevalence of diabetes is expected to propel growth of the global cardiac prosthetic devices market. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.

The market is witnessing clinical trials for assessing the safety and efficacy of Cardiac prosthetic devices. For instance, in February 2020, The Cardiac & Vascular Institute, U.S., announced to perform a successful procedure in the PROMISE II pivotal study of the LimFlow Percutaneous Deep Vein Arterialization System for the treatment of “no option” Chronic limb-threatening Ischemia.

Tailored Information as per niche requirement: https://www.coherentmarketinsights.com/insight/request-customization/3862

Global Cardiac Prosthetic Devices Market: Competitive Landscape   

Major players operating in the global cardiac prosthetic devices market include, Abbott Laboratories, Abiomed, Inc., AtriCure, Inc., Boston Scientific Corporation, Edward Lifesciences Corporation BIOTRONIK, Braile Biomedica, CryoLife, Inc., Labcor Laboratrios, Lepu Medical, Lifetech Scientific, LivaNova, Medtronic plc, Meril Life Sciences, MicroPort Scientific, Shree Pacetronix, TTK Healthcare, Venus Medtech, and Vitatron.

Global Cardiac Prosthetic Devices Market: Key Developments

April 2020: MicroPort Scientific Corporation announced that MicroPort CardioFlow Medtech Corporation, a subsidiary of MicroPort, completed raising a new round of funds on the basis of a pre-money valuation of US$1.1 billion

August 2019: AtriCure, Inc. acquired SentreHEART, Inc., a privately held developer of percutaneous left atrial appendage management solutions.

Additional Information on such Research Findings can be Availed At: https://www.coherentmarketinsights.com/press-release/cardiac-prosthetic-devices-market-3129

Segmentation

  • Global Cardiac Prosthetic Devices Market, By Product Type:
        • Heart Valves
          • Mechanical Heart Valves
          • Tissue Heart Valves
          • Transcatheter Heart Valves
        • Pacemaker
          • Implantable Pacemaker
          • External Pacemaker
  • Global Cardiac Prosthetic Devices Market, By End User:
        • Hospital
        • Specialty Centers
        • Others
  • Global Cardiac Prosthetic Devices Market, By Region:
    • North America
      • By Product Type:
        • Heart Valves
          • Mechanical Heart Valves
          • Tissue Heart Valves
        • Transcatheter Heart Valves
          • Pacemaker
          • Implantable Pacemaker
          • External Pacemaker
      • By End-User
        • Hospital
        • Specialty Centers
        • Others
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Product Type:
      • By End-User
      • By Country
    • Europe
      • By Product Type:
      • By End-User
      • By Country
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type:
      • By End-User
      • By Country
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Product Type:
      • By End-User
      • By Country
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • By Product Type:
      • By End-User
      • By Country
        • North Africa
        • Central Africa
        • South Africa
About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

To know more about us, please visit our website – www.coherentmarketinsights.com

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

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