Cardiac Prosthetic Devices Market Share Expected to Gain US$ 10,395.9 Million, at a 8.8% CAGR by 2027 | Abbott Laboratories,Abiomed, AtriCure, Boston Scientific Corporation

Cardiac Prosthetic Devices Market

Cardiac prosthetic devices count prosthetic heart valves like tissue heart valves and mechanical heart valves with artificial heart, ventricular assist devices, tissue patches, defibrillator leads, pacemaker leads, and angioplasty rings.

Global Cardiac Prosthetic Devices Market: Drivers

Recognition and launch of new devices are likely to drive growth in the global cardiac prosthetic devices market in the foreseeable future. For example, the USFDA approved SynCardia Systems, LLC in March 2020 for its 50cc Temporary Total Artificial Heart (TAH) system as a heart transplant pool.

Global Cardiac Prosthetic Devices Market: Opportunities

The development of devices with anti-fouling biomaterials is likely to provide beneficial growth opportunities for players in the global cardiac prosthetic devices market. The anti-fouling properties of poly (ethylene glycol), oligo (ethylene glycol) and zwitronic species limit the ability of microorganisms to stick to the surface of transplanted prostheses and form biofilm.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 @ https://www.coherentmarketinsights.com/insight/request-pdf/3862

Global Cardiac Prosthetic Devices Market: Restraints

Strict approval process for medical devices is likely to hamper market growth. In the US, for example, cardiac prosthetic devices such as heart valves and pacemakers are classified as Class III high-risk medical devices. Therefore, strict safety and efficacy tests are performed before these devices are approved. Furthermore, these devices require pre-market approval, which is an expensive and lengthy process.

Global Cardiac Prosthetic Devices Market: Key Takeaways

The size of the global cardiac prosthetic devices market was estimated to be considering US$ 5,290.0 Million in 2019 and during estimated period (2020-2027) it is estimated to witness a value of US$ 10,395.9 Million at a CAGR of 8.8%. The global cardiac prosthetic devices market is likely to grow in the estimated period due to increasing product approvals and the launch of new equipment.

The pacemaker segment leads the global cardiac prosthetic devices market in 2019, considering 66.4% in terms of value. The growing incidence and prevalence of cardiovascular disease in developing and developing economies is likely to contribute to the growth of the sector.

Global Cardiac Prosthetic Devices Market: Market Trends

Rising rates of diabetes are likely to increase the global market growth for cardiac prosthetic devices. For example, as per the study, “Global and regional diabetes incidence estimates for 2019 and estimates for 2030 and 2045: results of the International Diabetes Federation Diabetes Atlas, 9th edition”, were published in September 2019 in the journal Diabetes Research and Clinical Practice, 463 million people globally are likely to affect from diabetes in 2019 and this number is likely to witness 578 million and 700 million by 2030 and 2045 respectively.

𝐓𝐨 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐂𝐨𝐯𝐢𝐝𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 @ https://www.coherentmarketinsights.com/insight/request-sample/3862

The market is looking at clinical trials to evaluate the safety and efficiency of cardiac prosthetic devices. For example, The Cardiac and Vascular Institute, USA announced the successful implementation of the PROMISE II critical study of the lymph flow percutaneous deep vein arterialization system in February 2020, for the treatment of “no choice” chronic limb-threatening ischemia.

Global Cardiac Prosthetic Devices Market: Key Developments

August 2019: AtriCure, Inc. acquires SentreHEART, Inc., a private developer of percutaneous left atrial appendage management solutions.

April 2020: Microport Scientific Corporation announces that it has completed a new round of funding based on a pre-money valuation of US$ 1.1 billion by Microport Cardioflo Medtech Corporation, a subsidiary of Microport.

Global Cardiac Prosthetic Devices Market: Competitive Landscape

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