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 are used to replace damaged or diseased natural valves of the heart. These devices increase the survival rate and improve the quality of life in patients suffering from cardiovascular diseases.  

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

Increasing prevalence of hypertension is expected to propel growth of the global cardiac prosthetic devices market over the forecast period. For instance, according to a cross-sectional, population-based study, ‘Diabetes and Hypertension in India: A Nationally Representative Study of 1.3 Million Adults’, published in JAMA Internal Medicine in March 2018, the crude prevalence of hypertension in India was 25.3% between 2012 and 2014.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.     

Statistics:

North America held dominant position in the global cardiac prosthetic devices market in 2019, accounting for 37.4% share in terms of value, followed by Europe and Asia Pacific, respectively

Figure 1: Global Cardiac Prosthetic Devices Market Share (%) Value, By Region, 2019

Cardiac Prosthetic Devices  | Coherent Market Insights

Global Cardiac Prosthetic Devices Market: Restraints

Imposition of excise duty on medical devices is expected to hinder growth of the market. For instance, in the U.S., implementation of affordable healthcare act led to imposition of excise duty of 2.5% on all medical devices. Implementation of this reduces manufacturers’ profit margins.

Moreover, prosthetic valves are prone to dysfunction due to several factors such as the procedure of implant or risk factors such as diabetes, smoking, hypercholesterolemia, and metabolic syndrome.

Global Cardiac Prosthetic Devices Market: Opportunities 

Use of transcatheter aortic valves often leads to thrombosis. Market players may focus on understanding the pathological processes and the triggering mechanisms associated with thrombosis of such valves.

Moreover, improvements in prosthetic valve surfaces are also expected to aid in growth of the market. In this regard, it is crucial to determine the clotting time of plasma that has been in contact with the biomaterial. This approach can help distinguish between intrinsic and extrinsic pathways of coagulation.

Statistics:

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.

Figure 2: Global Cardiac Prosthetic Devices Market Value (US$ Bn), 2016 – 2027

Cardiac Prosthetic Devices  | Coherent Market Insights

Market Trends/Key Takeaways

Increasing prevalence of obesity is expected to propel growth of the global cardiac prosthetic devices market. For instance, according to the Centers of Disease Control and Prevention, Behavioral Risk Factor Surveillance System, 2018, 71424.3 thousand people in the U.S. suffer from obesity. 

Government funding for R&D in the treatment of congenital heart defects in children is also expected to aid in growth of the market. For instance, in May 2020, the U.S. Department of Defense awarded Draper, Boston Children’s Hospital and Seattle Children’s Research Institute a US$ 4.3 million, three-year grant for R&D in growth-adaptive pediatric heart valve for the treatment of congenital heart defects in children.

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

Major players in the market are focused on adopting various marketing strategies to enhance their market share. For instance, in May 2020, Abiomed, Inc. presented data at the virtual 2020 Society for Cardiovascular Angiography & Interventions (SCAI) Scientific Sessions, which demonstrated Impella heart pumps reduced in-hospital mortality when placed before a non-emergent percutaneous coronary intervention is performed.

Major players in the market are also focused on approval and launch of new products to expand their product portfolio. For instance, in November 2019, Mitre Medical received the U.S. FDA approval for the ENRAPT-US early feasibility study to evaluate the safety and performance of the Mitral Touch System to for the treatment of mitral insufficiency.

Cardiac Prosthetic Devices comprises of 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. These are used to replace damaged or diseased natural valves of the heart. Increasing prevalence of hypertension is expected to propel growth of the global cardiac prosthetic devices market over the forecast period. Furthermore, increasing research and product launches is also anticipated to assist the growth of the market.

Key features of the study:

  • This report provides in-depth analysis of the Global Cardiac Prosthetic Devices market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the Global Cardiac Prosthetic Devices market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study 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, MEDICO, Medtronic plc, Meril Life Sciences, MicroPort Scientific, Shree Pacetronix, TTK Healthcare, Venus Medtech, and Vitatron.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The Global Cardiac Prosthetic Devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Global Cardiac Prosthetic Devices market

Detailed 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:
        • 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
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • 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.K.
        • Germany
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • 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
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • 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
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • 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
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • Abbott Laboratories *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • 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
    • Vitatron

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By End User
      • Market Snippet, By Country
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Technological Advancements
    • Regulatory Scenario
    • Mergers and Acquisitions
  4. Global Cardiac Prosthetic Devices Market, By Product Type, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Heart Valves
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Mechanical Heart Valves
        • Tissue Heart Valves
        • Transcatheter Heart Valves
    • Pacemaker
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Implantable Pacemaker
        • External Pacemaker
  5. Global Cardiac Prosthetic Devices Market, By End User, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospital
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Specialty Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Cardiac Prosthetic Devices Market, By Region, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  7. Competitive Landscape
    • Company Profiles
      • Abbott Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Abiomed, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • AtriCure, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Boston Scientific Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Edward Lifesciences Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • BIOTRONIK
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Braile Biomedica
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • CryoLife, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Labcor Laboratrios
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Lepu Medical
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Lifetech Scientific
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • LivaNova
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Medtronic plc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Meril Life Sciences
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • MicroPort Scientific
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Shree Pacetronix
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • TTK Healthcare
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Venus Medtech
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Vitatron
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 22 market data tables and 14 figures on “Global Cardiac Prosthetic Devices Market - Global forecast to 2027”.

Frequently Asked Questions

The Global Cardiac Prosthetic Devices market size was valued at US$ 5,290.0 million in 2019 and is estimated to exhibit a CAGR of 8.8% between 2020 and 2027.
Pacemaker segment held the major market share in 2019 owing to an increasing prevalence of cardiovascular disorders is expected to propel growth of the market
Major factor driving the growth of Global Cardiac Prosthetic Devices market during the forecast period increasing prevalence of cardiovascular diseases, increasing research & development , and adoption of expansion strategies from major companies.
Major factors hampering the growth of the Global Cardiac Prosthetic Devices market during the forecast period constitutes of increasing excise duty on medical devices.
North America market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are 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.
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