Cardiac implants market

Cardiac Implants Market, by Device (Pacemaker Devices, Cardiac Resynchronization Therapy Devices, Implantable Hemodynamic Monitoring Devices, Implanted Heart Rhythm Monitors, Coronary Stents, Implantable Cardioverter Defibrillator, Heart Valve, and Others), by Application (Arrhythmias, Myocardial Ischemia, Acute Myocardial Infraction, Congestive Heart Failure, and Others), by End User (Hospitals, Emergency Medical Centers, Ambulatory Surgical Center, Home Care Settings, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast 2018 - 2027

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Jun 2022
CMI1176
355 Pages
Excel & Pdf
Medical Devices

Summary

Cardiac implants are implantable medical devices which rectify the arrhythmias in patient suffering from heart disorders such as ventricular tachycardia, ventricular fibrillation, heart failure. Implantable cardiac electronic devices as well as, biventricular pacemakers, cardiac loop recorders, implantable cardioverter defibrillator (ICD),pacemakers are manufactured to detect the abnormal heart rate and cardiac disorders. In 1960, first electronic cardiac pacemaker was invented by John Hopps. For the proper functioning of heart and blood vessels cardiovascular implants should remain inside patient’s body. Cardiac implants can be used for various heart disorders such as arrhythmias, myocardial ischemia, acute myocardial infraction, congestive heart failure, peripheral artery disease among others. The patients treated with cardiac implantable devices needs regular device follow-up.

Global cardiac implants market is estimated to be valued at US$ 35,795.6 million in 2022 and is expected to exhibit a CAGR of 8.1% during the forecast period (2022-2030).

Figure 1. Global Cardiac Implants Market in Terms of Value (US$ million), By Region, 2022

Increasing risk of cardiovascular disease due to change in lifestyle and dietary habits is expected to drive the market growth over the forecast period

There has been steady rise in cardiovascular disease due to the change in dietary habits and fast lifestyle. For instance, according to the Society of Thoracic Surgeons 2021, per month, approximately 24,000 cardiac surgeries were performed in the U.S. during December 2018 to December 2019. Hence the growing burden of heart failure, arrhythmias, etc. is expected to increase number of cardiac surgeries and thereby, drive growth of the cardiac implants market.

Cardiac Implants Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2022:	US$ 35,795.6 Mn
Historical Data for:	2017 to 2021	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	8.1%	2030 Value Projection:	US$ 66,953.4 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Device Type: Pacemaker Devices, Cardiac Resynchronization Therapy Devices, Implantable Hemodynamic Monitoring Devices, Implanted Heart Rhythm Monitors, Coronary Stents, Implantable Cardioverter Defibrillator, Heart Valve, Others (Peripheral Stent, Ventricular Assist Devices, among others) By Application: Arrhythmias, Myocardial Ischemia, Acute Myocardial Infraction, Congestive Heart Failure, Others (Peripheral Artery Disease, among others) By End User: Hospitals, Specialty Clinics, Others (Ambulatory Surgical Centers, Cardiology centers, among others)
Companies covered:	Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Edwards Lifesciences Corporation, Meril Life Sciences Pvt. Ltd. , Lepu Medical Technology (Beijing) Co., Ltd., BIOTRONIK SE & Co. KG, OSYPKA MEDICAL, Pacetronix.com, Vitatron, Terumo Corporation, Cordis, MicroPort Scientific Corporation.
Growth Drivers:	High incidence of cardiovascular diseases such as coronary heart disease, ischemic heart disease, arrhythmias, and others Technological innovations in the field of cardiac implants
Restraints & Challenges:	Product recalls and cardiac implant related infection

Figure 2. Global Cardiac Implants Market Share (%), By Device Type, 2022

Technological innovations in the field of cardiac implants is expected to evidence remarkable growth over the forecast period.

The cardiac implants market is expected to witness significant growth over the forecast period, owing to increasing focus of market players on technological innovations in the field of cardiac implants. For instance, in February 2022, Abbott, a U.S.-based medical device company, announced the initiation of its clinical trial study for evaluating the clinical effectiveness and safety of its Aveir DR Leadless Pacemaker System indicated for cardiovascular conditions such as cardiac rhythm disorder and bradycardia. This study is expected to be completed by November 2025. Aveir DR Leadless Pacemaker System is designed to provide synchronous, beat-by-beat pacing of the right atrium and right ventricle of the heart. This pacemaker is equipped with proprietary implant-to-implant (i2i) device technology, which is used for communication between two implanted leadless pacemakers, in order to regulate the heart rate.

Global Cardiac Implants Market– Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020.The COVID-19 pandemic has caused nationwide lockdowns & governments gave measures for mapping containment zones, self-quarantine, contact tracing, and other measures for curtailing spread of the disease. COVID-19 pandemic is expected to have a negative effect on the overall global cardiac implants market, due to drastic decrease in the number of cardiac devices implantation. For instance, according to an article published in the Medicinal journal, a peer-reviewed, scientific journal, in May 2021, during the COVID-19 pandemic, a drastic decrease of up to 75% of all procedures of new intra-cardiac devices implantation was reported in diabetic as well as non-diabetic patients in Western Romania. Hence due to decrease in number of cardiac device implantation there is negative impact on global cardiac implants market.

Global Cardiac Implants Market: Restraint

The global cardiac implants market growth is expected to be hampered in the near future, owing to increasing product recalls and cardiac implant related infection. For instance, in February 2021, Medtronic, a U.S.-based medical device company announced that it had recalled its Evera, Viva, Brava, Claria, Amplia, Compia, and Visia Implantable Cardioverter Defibrillators (ICDs) and Cardiac Resynchronization Therapy (CRT-Ds) devices due to an unexpected and rapid decrease in battery life. This decrease in battery life is caused by a short circuit resulting in some devices to produce first warning that the battery is low earlier than expected. There have been 444 complaints regarding these ICDs and CRT-Ds in the U.S

Key Players

Major players operating in the global cardiac implant market include Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Edwards Lifesciences Corporation, Meril Life Sciences Pvt. Ltd. , Lepu Medical Technology (Beijing) Co., Ltd., BIOTRONIK SE & Co. KG, OSYPKA MEDICAL, Pacetronix.com, Vitatron, Terumo Corporation, Cordis, MicroPort Scientific Corporation.

Table of Content

Table of Contents

*Browse 67 Market Data Tables and 84 Figures figures on "Global Cardiac Implants Market” - Global forecast to 2030

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global cardiac implants market during the forecast period (2022-2030)?

Global cardiac implants market is estimated to be valued at US$ 35,795.6 million in 2022 and is expected to exhibit a CAGR of 8.1% between 2022 and 2030.

What are the major factors driving the market growth?

Factors such as increasing development of new cardiac implants and increasing engagement of business development strategies such as collaboration by key market players are expected to drive the market growth during the forecast period.

Which is the leading device type segment in the market?

Coronary Stents segment is expected to hold a major market share during the forecast period in the device type segment.

What are the key factors hampering growth of the market?

The major factor hampering growth of the market include Product recalls and cardiac implant related infection.

Which are the major players operating in the market?

Major players operating in the market includes Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Edwards Lifesciences Corporation, Meril Life Sciences Pvt. Ltd. , Lepu Medical Technology (Beijing) Co., Ltd., BIOTRONIK SE & Co. KG, OSYPKA MEDICAL, Pacetronix.com, Vitatron, Terumo Corporation, Cordis, MicroPort Scientific Corporation.