Cardiac Implant Devices Market : Global Industry Analysis And Forecast 2019-2024
By the end of 2024, the global market
size for the cardiac implant devices market is projected to grow with a
CAGR of 4.30 percent to reach USD40.300 billion from USD31.300 billion in 2018. The growing burden of cardiovascular diseases worldwide along with growing health
expenditure are the major drivers driving the growth of the global cardiac
implant devices market during the forecast period. Additionally, the growing
geriatric population is further propelling the market growth owing to the
growing age-associated cardiac diseases, thus, creating the demand for the
cardiac implant devices during the forecast period.
Moreover, technological
advancements will provide an opportunity for the market to thrive in the
upcoming years owing to the growing number of clinical trials worldwide. Geographically,
North America is expected to hold the largest market share of the global
cardiac implant devices market owing to the highest health expenditure of
the United States and a high prevalence of the cardiovascular disease.
Market Segmentation
On the basis of product type, the cardiac
implant devises market is segmented as Implantable Closure Devices, Pacemaker
Implants, Implantable Cardioverter Defibrillator (ICD), Left Atrial Appendage
(LAA) Closure Device, Coronary Stents, and Prosthetic Heart Valves, Insertable
Cardiac Monitor (ICM), Implantable Heart Pump, and Total Artificial Heart.
While on the basis of geography it is divided into North America, South
America, Europe, Middle East& Africa, and the Asia Pacific.
Cardiac Implant Devices Market by Product Type
By product type, the cardiac implant
devices market is segmented as Implantable Closure Devices, Pacemaker
Implants, Implantable Cardioverter Defibrillator (ICD), Left Atrial Appendage
(LAA) Closure Device, Coronary Stents, Prosthetic Heart Valves, Insertable
Cardiac Monitor (ICM), Implantable Heart Pump, and Total Artificial Heart. The
coronary stents segment is expected to hold a significant CAGR during the
forecast period on account of the growing prevalence of coronary heart diseases
worldwide. Furthermore, implantable heart pump is expected to hold a significant
market share because of growing health concerns and an increasing number of
hearing failures.
Pacemaker Implants
An increasing number of deaths from abnormal heartbeats is driving the demand for
pacemakers, as pacemakers optimize the heartbeats and control the heartbeats,
thus providing signification reduction in the risk of strokes. Furthermore,
increasing expenditure by the key market players to bring out the state-of-art
technology is further expected to anticipate the demand for these pacemakers.
In Europe, scientists are continuously working for the development of battery-less
pacemakers, which will work from the energy generated by the heart and which is
being currently run on the testing phase. Simultaneously, increasing
cardiovascular diseases in the European region is another prime factor to
propel the market demand for the pacemakers in this region, thus, fueling the
growth of the cardiac implant devices market during the forecast period.
As per The World Health Organization, cardiovascular disease is the reason for
more than half of the deaths across the European Region. In addition to this in
United Kingdom pacemaker implantation is one of the most common types of heart
surgery that is carried out in which thousands of pacemakers are fitted each
year (Source: National Health Service).
Cardiac Implant Devices Market by Geography
By
geography, cardiac implant devices market is segmented as North America, South
America, Europe, Middle East and Africa, and Asia Pacific. Geographically, the
global cardiac implant devices market has been segmented into North America,
South America, Europe, Middle East and Africa, and Asia Pacific. These regions
have been further segmented into countries which hold a significant share in
the market.
North America and Europe together hold a significantly large share
in this market. The growth of the in these regions is majorly attributed to
state-of-the-art healthcare infrastructure which is expected to continue
improving as industry players continue to funnel in huge investments in this
sector in these regions. The cardiac implant devices market in Asia
Pacific is being driven by supportive initiatives by some governments in order
to make expensive healthcare services accessible for people of all income
groups. Middle East and Africa, and South America are also expected to show
good growth over the projected period.
For All Industry Report
Request Free Sample or Download Report
For HealthCare Industry Coverage
Connect with us :
Comments
Post a Comment