Cardiac Prosthetic Devices Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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How has the cardiac prosthetic devices market grown over the years?
The cardiac prosthetic devices market has grown rapidly in recent years. It is projected to grow from $8.2 billion in 2024 to $9.15 billion in 2025, at a compound annual growth rate (CAGR) of 11.5%. The growth drivers include an aging population with a higher incidence of cardiovascular diseases, improved surgical techniques, heightened awareness about cardiac health, and supportive government policies for cardiovascular care.
What Is the forecasted market size and growth rate for the cardiac prosthetic devices market?
The cardiac prosthetic devices market is projected to grow to $13.97 billion by 2029, with a CAGR of 11.2%. Growth is attributed to the aging population, increased healthcare spending, favorable insurance conditions, patient preference for advanced treatments, and the rise of lifestyle-related heart conditions. Trends include the development of smaller, efficient devices, biocompatible materials, wearable technology integration, battery advancements, and 3D printing in prosthetic design.
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What are the major factors driving growth in the cardiac prosthetic devices market?
The rising prevalence of cardiovascular diseases is expected to drive the growth of the cardiac prosthetic devices market. Cardiovascular diseases, which affect the heart and blood vessels, are becoming more common due to unhealthy lifestyles, obesity, poor diet, and aging populations. Cardiac prosthetic devices play a crucial role in managing these diseases by replacing or supporting the heart’s function. The British Heart Foundation’s January 2024 report highlighted that cardiovascular diseases account for 27% of all deaths in the UK, underlining the demand for such devices. Therefore, the growing prevalence of cardiovascular conditions is driving the market for cardiac prosthetic devices.
What key areas define the segmentation of the global cardiac prosthetic devices Market?
The cardiac prosthetic devices market covered in this report is segmented –
1) By Type: Valves, Pacemakers
2) By Applications: Surgery, Research
3) By End User: Hospitals, Clinics Or Cardiac Centers, Ambulatory Surgical Centers, Other End-Users
Subsegments:
1) By Valves: Mechanical Valves, Tissue Valves, Transcatheter Heart Valves
2) By Pacemakers: Single-Chamber Pacemakers, Dual-Chamber Pacemakers, Biventricular Pacemakers
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What are the top market players propelling the growth of the cardiac prosthetic devices industry?
Major companies operating in the cardiac prosthetic devices market are Abbott Laboratories, Medtronic plc, Siemens Healthcare GmbH, Boston Scientific Corporation, Laboratory Corporation of America Holdings, Terumo Corporation, Edwards Lifesciences Corporation, BIOTRONIK SE & Co. KG, Lepu Medical Technology (Beijing) Co. Ltd., Hansen Medical Inc., Abiomed Inc., LivaNova PLC, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, ATRICURE INC., CryoLife Inc., LifeTech Scientific Corporation, TTK Healthcare Limited, Venus Medtech (Hangzhou) Inc., Braile Biomedica, Kawasumi Laboratories Inc., St. Jude Medical Inc., Sorin Group, Aortic Innovations Inc., Mic Pacetronixro
What are the key trends shaping the future of the cardiac prosthetic devices market?
In the cardiac prosthetic devices market, companies are focusing on developing technologies like transcatheter pacing systems to improve heart function and reduce procedural invasiveness. For example, in January 2022, Medtronic launched the Micra AV Transcatheter Pacing System, a small, minimally invasive device designed to treat bradycardia (slow heart rate). The device offers precise pacing that synchronizes with the heart’s natural rhythm, providing long-term benefits and enabling remote monitoring.
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What regions are dominating the cardiac prosthetic devices market growth?
North America was the largest region in the cardiac prosthetic devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cardiac prosthetic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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