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Cardiac Bio-Implant Devices Market and its Growth Landscape in the Foreseeable Future
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Cardiovascular disease refers to the disease of heart or blood vessels, which are mainly caused due to blood clot or cholesterol deposit inside an artery. Cardiovascular diseases are of several types including coronary heart disease, rheumatic heart disease, peripheral arterial disease, congenital heart disease, deep vein thrombosis, and pulmonary embolism. Some of the major risk-leading habits towards cardiovascular diseases are high blood pressure, high blood cholesterol, diabetes, smoking and obesity. Moreover, alcohol, lack of exercise and poor nutrition may also cause heart diseases. According to the WHO, cardiovascular diseases are the major cause of all deaths worldwide. The organization also reported that 17.5 million people died from cardiovascular diseases in 2012, representing 31% of all deaths globally.
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Some of the factors driving the growth of the global cardiac bio-implant devices market are increasing healthcare expenditure, aging population and growing incidences of cardiovascular diseases. In addition, the technological advancements and high investments for the development and manufacturing of cardiac bio-implant devices are fueling the growth of the global cardiac bio-implant devices. However, high cost of cardiac bio-implant devices, complications associated with the usage of these devices and stringent regulatory requirements for the approval of cardiac bio-implant devices are some of the factors, restraining the growth of the global cardiac bio-implant devices market to some extent.
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Geographically, North America leads the global cardiac bio-implant devices market due to high healthcare expenditure, aging population and high prevalence of cardiovascular diseases. In addition, the technological advancement and high investment by major players for the development of cardiac bio-implant devices are fueling the growth of the cardiac bio-implant devices market in North America. Asia-Pacific is the fastest growing region in the global cardiac bio-implant devices market, driven by improving healthcare infrastructure, growing healthcare expenditure and high prevalence of cardiovascular diseases. Moreover, the Asia-Pacific cardiac bio-implant devices market is growing rapidly due increasing research and development activities and increasing awareness about cardiac bio-implant devices among patients and healthcare providers in emerging economies, such as India and China.
The key players operating in the global cardiac bio-implant devices market are St. Jude Medical Inc., Medtronic, Boston Scientific Corporation, Johnson & Johnson Services Inc., Sorin Group, Abbott and Edwards Lifesciences Corporation.
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