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Cardiac Prosthetic Devices Market - Global Outlook and Forecast 2020-2025

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    Report

  • 305 Pages
  • April 2020
  • Region: Global
  • Arizton
  • ID: 5011306
UP TO OFF until Dec 31st 2022
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The cardiac prosthetic devices market is expected to grow at a CAGR of over 14% during the period 2019–2025.

The global cardiac prosthetic devices market is expected to grow at a significant rate during the forecast period. The growing incidence of arrhythmia caused by arterial fibrillation (AF), structural heart diseases, especially heart valve diseases worldwide, is the major factor contributing to the growth. As the occurrence of AF in the general population in developed countries is between 1.5% and 3%, and in the elderly population around 20%, the market is likely to increase its market share considerably. Besides, the prevalence of several valvular disorders such as aortic stenosis (AS), mitral regurgitation, pulmonary stenosis, tricuspid regurgitation, and congenital heart defects has increased at a significant rate over the past few years globally.

The demand for transcatheter valve replacement techniques is growing at a phenomenal rate due to the growing awareness of the devices, favorable reimbursement coverage, and increased prevalence of high-risk patients. The increasing mortality rate due to severe heart valve diseases, especially in the elderly population, is a key global concern among healthcare providers. Therefore, to address this concern, medical practitioners prefer to perform heart valve replacement surgeries with transcatheter technique among high-risk patients. Hence, the increase in the target population, coupled with a growing risk of severe heart valve diseases, is expected to increase the demand for transcatheter surgical techniques.

The following factors are likely to contribute to the growth of the cardiac prosthetic devices market during the forecast period:
  • Arrival of Leadless Cardiac Pacemakers
  • High Growth Potential of Transcatheter Mitral Valve Replacement Devices
  • The emergence of Next-generation Heart Valve Replacement Devices
  • Rise in Strategic Acquisitions

The study considers the present scenario of the cardiac prosthetic devices market and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent companies operating in the market.

Cardiac Prosthetic Devices Market: Segmentation

This research report includes a detailed segmentation by products, end-user, and geography. The heart valve replacement devices market is growing at a healthy rate. An increase in the aging population and the presence of a large pool of patients with heart valve diseases is a major factor in driving the segment growth. The market is expected to grow significantly in the coming years due to the growing demand for transcatheter heart valve replacement procedures, especially TAVR and availability of next-generation prosthetic tissue heart valves.

The growth of the transcatheter heart valves can mainly be attributed to superior safety and efficacy features, coupled with the growing prevalence of heart valve diseases globally. The penetration is high in developed countries such as the US, Germany, Japan, France, the UK, Italy, and Spain. Similarly, advances in heart valve replacement technologies have helped to boost unit sales of tissue heart valves as the improvement in tissue valves has increased durability, which makes them suitable for implantation in young patients. However, the share of mitral tissue valve replacement procedures is expected to increase during the forecast period as end-users are opting for TAVR procedures over aortic tissue valve replacement procedures. The mechanical heart valves segment is likely to account for a slower rate than the tissue and transcatheter heart valves segments. The demand for mechanical heart valves is declining, especially in developed economies, due to high risks and complications associated with these devices and the rapid evolution of advanced tissue and transcatheter heart valves with higher safety and efficacy. However, the global mechanical heart valves market is growing due to a steady increase in demand for mechanical heart valves in developing and emerging countries as these devices are relatively less expensive and offer long-life expectancy.

Hospitals are the major end-users for cardiac prosthetic devices as they perform a high number of implantation procedures. The increasing number of heart ailments and the growing implantations in the hospitals are fueling the growth of the segment. Healthcare professionals in hospitals use advanced cardiac prosthetic devices such as implantable pacemakers, CRT-Ps, transcatheter, tissue, and mechanical heart valves as a treatment procedure of cardiac diseases. The specialty cardiology centers segment is expected to grow at an absolute growth of over 140% during the forecast period.

The segment is likely to grow at a faster rate than hospitals as they are equipped with better infrastructure for cardiology care. Specialty cardiac centers provide exclusive healthcare services to patients with suspected or diagnosed heart diseases. These centers are solely dedicated to treating patients that are suffering from several ailments such as arrhythmia and structural heart diseases. Ambulatory Surgery Centers (ASC) are growing at a promising rate as they are modern healthcare settings equipped with sophisticated healthcare infrastructure. This segment is expected to witness healthy growth, especially in developed countries, due to the growing popularity of procedures such as pacemaker implants and TAVR over conventional open surgical techniques for implanting cardiac prosthetic devices.

Market Segmentation by Products
  • Cardiac Peacemakers
  • Conventional Cardiac Peacemakers
  • Cardiac Resynchronization Therapy Peacemakers (CRT-Ps)
  • Heart Valve Replacement Devices
  • Transcatheter Heart Valves
  • Tissue Heart Valves
  • Mechanical Heart Valve

Market Segmentation by End-user
  • Hospitals
  • Specialty Cardiac Centers
  • ASCs

Insights by Geography

The growth in North America is mainly attributed to the high incidence of cardiac diseases such as heart valve disease and abnormal heart rhythms, the availability of advanced healthcare infrastructure and constant technological innovations, and growing acceptance for transcatheter and other MI procedures. A strong preference for MI procedures is one of the key reasons for high market share. Europe is the second-largest market for cardiac prosthetic devices. The region, particularly Western Europe, has well-established healthcare infrastructure with access to advanced healthcare services, especially for replacement procedures for heart diseases such as arrhythmia and heart valve diseases. Also, the increasing incidence of abnormal heart rhythm, heart valve disease, rapid adoption of advanced cardiac prosthetic devices, and high healthcare expenditures are driving market growth in Europe.

APAC is growing at a significant rate and is expected to grow during the forecast period. The presence of a large pool of patient population, improvements in healthcare infrastructure, and increased healthcare expenditure are the factors contributing to the growth. Further, the increasing prevalence of heart diseases is a key factor driving the cardiac prosthetic devices market.

Market Segmentation by Geography

Europe
  • Spain
  • Germany
  • Italy
  • France
  • UK

North America
  • US
  • Canada

APAC
  • South Korea
  • China
  • Japan
  • Australia
  • India

Latin America
  • Brazil
  • Argentina
  • Mexico

MEA
  • Turkey
  • Saudi Arabia
  • South Africa

Insights by Vendors

The global cardiac prosthetic devices market is highly competitive and characterized by the presence of a few key players and a significant number of other prominent players offering a wide range of advanced and innovative devices. The market is witnessing rapid technological advancements and is significantly affected by new product launches. Abbott, BIOTRONIK, Boston Scientific, Edwards Lifesciences, and Medtronic are the major players with dominant shares in the market. The dominant presence of major players is attributable to their strong presence and endorsement for their products due to the availability of abundant clinical data/evidence regarding safety and efficacy.

Key Vendors
  • Medtronic
  • Boston Scientific
  • Abbott
  • Edwards Lifesciences
  • BIOTRONIK

Other Vendors
  • Braile Biomédica
  • Braile Biomédica
  • CryoLife
  • Labcor Laboratórios
  • Lepu Medical
  • Lifetech Scientific
  • LivaNova
  • MicroPort Scientific
  • Meril Life Sciences
  • MEDICO
  • Shree Pacetronix
  • TTK Healthcare
  • VENUS MEDTECH
  • Vitatron

Key Vendors
Medtronic, Boston Scientific, Abbott, Edwards Lifesciences, BIOTRONIK, Braile Biomédica, CryoLife, Labcor Laboratórios, Lepu Medical, Lifetech Scientific, LivaNova, MicroPort Scientific, Meril Life Sciences, MEDICO, Shree Pacetronix, TTK Healthcare, VENUS MEDTECH, and Vitatron.

Key Market Insights
The analysis of the cardiac prosthetic devices market provides sizing and growth opportunities for the period 2019–2025.
  • Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
  • Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
  • Delivers a complete overview of segments and the regional outlook of the market.
  • Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.

Table of Contents

1 Research Methodology2 Research Objectives3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Product
4.4.2 Market Segmentation by End-User
4.4.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Arrhythmia and Heart Valve Diseases: An Overview
7.1.1 Background
7.1.2 Cardiac Pacemakers
7.1.3 Heart Valve Replacement Devices for Heart Valve Diseases
7.1.4 Cardiac Prosthetic Devices Market Snapshot
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Rising Patient Pool with Arrhythmia & Heart Valve Diseases
8.1.2 Increasing Demand for Transcatheter Heart Valve Replacement Procedures
8.1.3 New Product Approvals/Launches
8.1.4 Technological Advancements
8.2 Market Restraints
8.2.1 High Cost of Cardiac Prosthetic Devices & Implantation
8.2.2 Risks and Complications Associated with Cardiac Prosthetic Devices
8.2.3 Stringent Government Regulations and Product Recalls
8.3 Market Opportunities and Trends
8.3.1 Advent of Leadless Cardiac Pacemakers
8.3.2 High Growth Potential of Transcatheter Mitral Valve Replacement Devices
8.3.3 Promising Investigational Cardiac Prosthetic Devices
8.3.4 Growing Demand for Automated Cardiac Prosthetic Devices Integrated with Remote Monitoring Platforms
8.3.5 Emergence of Next-generation Heart Valve Replacement Devices
8.3.6 Strategic Acquisitions
9 Market Landscape
9.1 Market Overview
9.2 Market Size & Forecast
9.3 Five Forces Analysis
9.3.1 Threat of New Entrants
9.3.2 Bargaining Power of Suppliers
9.3.3 Bargaining Power of Buyers
9.3.4 Threat of Substitutes
9.3.5 Competitive Rivalry
10 Product
10.1 Market Snapshot & Growth Engine
10.2 Market Overview
11 Heart Valve Replacement Devices
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.2.1 Market Size & Forecast
11.3 Product Segmentation
11.4 Transcatheter Heart Valves
11.4.1 Market Overview
11.4.2 Market Size & Forecast
11.5 Tissue Heart Valves
11.5.1 Market Overview
11.5.2 Market Size & Forecast
11.6 Mechanical Heart Valves
11.6.1 Market Overview
11.6.2 Market Size & Forecast
11.7 Geographic Segmentation
11.7.1 North America: Market Size & Forecast
11.7.2 Europe: Market Size & Forecast
11.7.3 APAC: Market Size & Forecast
11.7.4 Latin America: Market Size & Forecast
11.7.5 Middle East & Africa: Market Size & Forecast
12 Cardiac Pacemakers
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.2.1 Market Size & Forecast
12.3 Product Segmentation
12.4 Conventional Cardiac Pacemakers
12.4.1 Market Overview
12.4.2 Market Size & Forecast
12.5 Cardiac Resynchronization Therapy Pacemakers (crt-ps)
12.5.1 Market Overview
12.5.2 Market Size & Forecast
12.6 Geographic Segmentation
12.6.1 North America: Market Size & Forecast
12.6.2 Europe: Market Size & Forecast
12.6.3 APAC: Market Size & Forecast
12.6.4 Latin America: Market Size & Forecast
12.6.5 Middle East & Africa: Market Size & Forecast
13 End-User
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Hospitals
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.4 Specialty Cardiac Centers
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.5 ASCs
13.5.1 Market Overview
13.5.2 Market Size & Forecast
14 Geography
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
15 North America
15.1 Market Overview
15.2 Market Size & Forecast
15.3 Key Countries
15.3.1 US: Market Size & Forecast
15.3.2 Canada: Market Size & Forecast
16 Europe
16.1 Market Overview
16.2 Market Size & Forecast
16.3 Key Countries
16.3.1 Germany: Market Size & Forecast
16.3.2 France: Market Size & Forecast
16.3.3 UK: Market Size & Forecast
16.3.4 Italy: Market Size & Forecast
16.3.5 Spain: Market Size & Forecast
17 APAC
17.1 Market Overview
17.2 Market Size & Forecast
17.3 Key Countries
17.3.1 Japan: Market Size & Forecast
17.3.2 China: Market Size & Forecast
17.3.3 India: Market Size & Forecast
17.3.4 Australia: Market Size & Forecast
17.3.5 South Korea: Market Size & Forecast
18 Latin America
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Key Countries
18.3.1 Brazil: Market Size & Forecast
18.3.2 Mexico: Market Size & Forecast
18.3.3 Argentina: Market Size & Forecast
19 Middle East & Africa
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Key Countries
19.3.1 Turkey: Market Size & Forecast
19.3.2 Saudi Arabia: Market Size & Forecast
19.3.3 South Africa: Market Size & Forecast
20 Competitive Landscape
20.1 Competition Overview
20.1.1 Medtronic
20.1.2 Boston Scientific
20.1.3 Abbott
20.1.4 Edwards Lifesciences
20.1.5 BIOTRONIK
20.2 Market Share Analysis: Cardiac Pacemakers
20.3 Market Share Analysis: Heart Valve Replacement Devices
21 Key Company Profiles
21.1 Medtronic
21.1.1 Business Overview
21.1.2 Major Product Offerings
21.1.3 Key Strengths
21.1.4 Key Strategies
21.1.5 Key Opportunities
21.2 Boston Scientific
21.2.1 Business Overview
21.2.2 Major Product Offerings
21.2.3 Key Strengths
21.2.4 Key Strategies
21.2.5 Key Opportunities
21.3 Abbott
21.3.1 Business Overview
21.3.2 Major Product Offerings
21.3.3 Key Strengths
21.3.4 Key Strategies
21.3.5 Key Opportunities
21.4 Edwards Lifesciences
21.4.1 Business Overview
21.4.2 Major Product Offerings
21.4.3 Key Strengths
21.4.4 Key Strategies
21.4.5 Key Opportunities
21.5 BIOTRONIK
21.5.1 Business Overview
21.5.2 Major Product Offerings
21.5.3 Key Strengths
21.5.4 Key Strategies
21.5.5 Key Opportunities
22 Other Prominent Vendors
22.1 Braile Biomédica
22.1.1 Business Overview
22.1.2 Key Product Offerings
22.2 CryoLife
22.2.1 Business Overview
22.2.2 Key Product Offerings
22.3 Labcor Laboratórios
22.3.1 Business Overview
22.3.2 Key Product Offerings
22.4 Lepu Medical
22.4.1 Business Overview
22.4.2 Key Product Offerings
22.5 Lifetech Scientific
22.5.1 Business Overview
22.5.2 Key Product Offerings
22.6 LivaNova
22.6.1 Business Overview
22.6.2 Key Product Offerings
22.7 MicroPort Scientific
22.7.1 Business Overview
22.7.2 Key Product Offerings
22.8 Meril Life Sciences
22.8.1 Business Overview
22.8.2 Key Product Offerings
22.9 MEDICO
22.9.1 Business Overview
22.9.2 Key Product Offerings
22.10 Shree Pacetronix
22.10.1 Business Overview
22.10.2 Key Product Offerings
22.11 TTK Healthcare
22.11.1 Business Overview
22.11.2 Key Product Offerings
22.12 VENUS MEDTECH
22.12.1 Business Overview
22.12.2 Key Product Offerings
22.13 Vitatron
22.13.1 Business Overview
22.13.2 Key Product Offerings
23 Report Summary
23.1 Key Takeaways
23.2 Strategic Recommendations
23.3 Quantitative Summary
23.3.1 Product
23.3.2 End-User
23.3.3 Geography
24 Appendix
24.1 Abbreviations

Companies mentioned

  • Medtronic
  • Boston Scientific
  • Abbott
  • Edwards Lifesciences
  • BIOTRONIK
  • Braile Biomédica
  • CryoLife
  • Labcor Laboratórios
  • Lepu Medical
  • Lifetech Scientific
  • LivaNova
  • MicroPort Scientific
  • Meril Life Sciences
  • MEDICO
  • Shree Pacetronix
  • TTK Healthcare
  • VENUS MEDTECH
  • Vitatron.

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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