Cardiac Prosthetic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Product (Heart Valves and Pacemakers), End-user and Geography

Market Snapshot

cardiac-prosthetic-devices-market_Market Summary
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >9.2 %

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Market Overview

The Cardiac Prosthetic Devices Market studied was anticipated to grow with a CAGR of nearly 9.2% during the forecast period.  The major factors attributing to the growth of the market are the rise in the prevalence of multiple cardiovascular indications, atrial fibrillation, cardiac valve failure, and stroke lead to high mortality rates and stroke among geriatrics. For instance, according to Global Health And Wellness Report - 2018, more than 40% of the adult population in United States have been diagnosed with a cardiovascular condition in 2018 which will positively help the market growth, necessitating the high requirement of heart valve replacement devices and pacemakers to enhance cardiac functioning which likely to drive the market growth throughout the forecast period.

Scope of the Report

Cardiac prosthetic devices are used to replace or support the function of damaged or infirm heart tissues or organs that help the cardiac functioning of the patients. Heart valve replacement devices and pacemakers have drawn a major attraction with a steep rise in cardiac failure cases in recent years driving the market for cardiac prosthetic devices.

Product
Heart Valves
Tissue Valve
Transcatheter Valve
Mechanical Valve
Pacemaker
Implantable Pacemaker
External Pacemaker
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Mechanical Valves are Expected to Hold the Largest Market Share in the Cardiac Prosthetic Devices Market.

  • The Mechanical Valves attribute the largest share in the market owing to their lifetime solution for the patient due to their mechanical strength and flexibility of durable raw polymeric materials used in their manufacturing process. Furthermore, the increased preference by the physicians and patients due to their reduced risk of clinical problems compared to other valves and the lesser requirement for repetitive surgeries with these valves also contribute to the rise in the adoption of these systems fueling the growth of the market.
  • On the other hand, transcatheter heart valves are anticipated to witness significant growth over the forecast period owing to their minimal invasiveness nature compared to surgical procedures. The replacement devices are the highly effective and potent alternative for patients at greater risk from the standard valve replacement surgery, extensive congenital malformation, calcification, or infection contributing to the market growth.
CVD Deaths in The US by Year in Millions

North America Dominates the Market and Expected to do Same in the Forecast Period.

North America is expected to dominate the global cardiac prosthetic devices market throughout the forecast period. The dominance is due to the rising prevalence of cardiovascular disorders such as arrhythmia, heart failures, ischemic heart disease, dyspnea and heart valve imbalance owing to their unhealthy lifestyle in the United States which generates higher demand for the replacement devices. For instance, according to The American Heart Association, in 2018, nearly 92.1 million individuals in the U.S. suffered from cardiovascular diseases resulted in a higher demand for better treatment technologies driving the market in the United States. Also, increasing awareness programs by healthcare associations such as The American Heart Association and manufacturers by promoting positive health and the advantages of technologically advanced prosthetics along with the availability of advanced healthcare infrastructure in the region contributes for its outstanding share in the global market revenue.

CPD - GEO

Competitive Landscape

The Cardiac Prosthetic Devices market is moderately competitive and consists of several major players. Most of the key players currently dominating the market are focusing on technological advancements to address the unmet needs of cardiac diseases with the enhanced safety of the cardiac prosthetic devices resulting in demand for the market. While others are launching new products and actively making acquisitions with the other companies to consolidate their market positions across the globe and. For instance, in January 2017, Abbott acquired St. Jude Medical, added Trifecta Valve with Glide Technology in the U.S. that utilizes advanced technology, which is further such as expected to foster the industry growth propelling the market revenue. Some of the companies which are currently dominating the market are Abbott Laboratories, LivaNova PLC, Medtronic plc, Boston Scientific Corporation, and Edwards Lifesciences Corporation

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Geriatric Popuation and Rise in Global Healthcare Expenditure along with Growth in Disposable Income

      2. 4.2.2 Rise in Global Prevalence of Cardiac Failures, Strokes and Availability of Technologically Advanced Products

    3. 4.3 Market Restraints

      1. 4.3.1 Stringent FDA Regulations for Class II Category Devices Which Should Comply to the Performance Standards

      2. 4.3.2 High Cost of Implantation and Risk of Repetitive Surgeries

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Heart Valves

        1. 5.1.1.1 Tissue Valve

        2. 5.1.1.2 Transcatheter Valve

        3. 5.1.1.3 Mechanical Valve

      2. 5.1.2 Pacemaker

        1. 5.1.2.1 Implantable Pacemaker

        2. 5.1.2.2 External Pacemaker

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Australia

        5. 5.2.3.5 South Korea

        6. 5.2.3.6 Rest of Asia-Pacific

      4. 5.2.4 Middle-East and Africa

        1. 5.2.4.1 GCC

        2. 5.2.4.2 South Africa

        3. 5.2.4.3 Rest of Middle-East and Africa

      5. 5.2.5 South America

        1. 5.2.5.1 Brazil

        2. 5.2.5.2 Argentina

        3. 5.2.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 LivaNova PLC

      3. 6.1.3 Medtronic plc

      4. 6.1.4 Boston Scientific Corporation

      5. 6.1.5 Edwards Lifesciences Corporation

      6. 6.1.6 Colibri Heart Valve

      7. 6.1.7 Meril Life Sciences Pvt Ltd

      8. 6.1.8 Biotronik

      9. 6.1.9 Lepu Medical Technology Co Ltd

      10. 6.1.10 Siemens AG

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Cardiac Prosthetic Devices Market market is studied from 2018 - 2026.

The Cardiac Prosthetic Devices Market is growing at a CAGR of >9.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Abbott Laboratories, LivaNova PLC, Medtronic plc, Boston Scientific Corporation, Edwards Lifesciences Corporation are the major companies operating in Cardiac Prosthetic Devices Market.

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