Cardiac Implant Market Likely to Enjoy Explosive overall study by 2027 | Medtronic, Boston Scientific Corporation, Abbott Laboratories

The global cardiac implants market is expected to witness growth as key players and healthcare organizations use inorganic growth methods such as collaborations and partnerships to expand their cardiac devices offering over the forecast period. For instance, Ochsner Health System and Geneva Health Solutions (GHS) formed a strategic alliance in December 2018. Patients in Arkansas, Louisiana, Mississippi, Georgia, and Alabama will be able to use GHS' cloud-based technology platform and remote management service for patients with cardiac implants as part of this agreement. Furthermore, the introduction of new technologies will propel the global cardiac implants market growth over the forecast period.

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Key Players in This Report Include Medtronic Plc., Boston Scientific Corporation, Abbott Laboratories, Vitatron Holding B.V., Shree Pacetronix Ltd., MEDICO S.p.A., Lepu Medical Technology Co Ltd., LivaNova PLC, and Qinming Medical, and Cordis Inc.

For instance, Abbott released the Confirm RX Implantable Cardiac Monitor in May 2019, which is a modern, smarter heart monitor that detects arrhythmias more accurately. The device is for people who are at risk of having irregular heart rhythms. In May 2017, Abbots received CE marking approval for the Confirm RX Implantable Cardiac Monitor (ICM), allowing the business to sell the device in Europe. Heavy investments by major companies for developing novel cardiac implantable devices is expected to propel the global cardiac implant market growth over the forecast period.

For instance, in August 2016, Johnson & Johnson Innovation (JJDC) invested US$ 28 million in V-Wave, a startup based in Israel that specializes in implanted devices for chronic heart failure. This funding is expected to go into research trials for cardiac devices in order to gain regulatory approval in the U.S. Furthermore, the V-Wave implant was created in Israel, and it has been successfully implanted in around 30 patients since 2014. However, the growing frequency of product recalls for cardiac implants is expected to stifle the global cardiac implants market growth over the forecast period.

For instance, the U.S. Food and Drug Administration (FDA) released a product recall notice in March 2019 for Medtronic plc's implantable electrophysiology (EP) cardiac devices due to security breaches in the wireless telemetry technology used for interaction between the device and its programming and surveillance systems. Several manufacturers are now stressing security concerns in their product designs.

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Due to growing initiatives by major businesses to develop important technologies for improved patient outcomes, the global cardiac implant market is expected to witness at a CAGR of 11.6 % over the forecast period (2019–2026). For instance, Biotroni introduced the world's smallest implanted cardioverter-defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) in Europe in March 2019. Both devices are authorized for 3 Tesla (3T) full-body MRI scans.

The global cardiac implant market is expected to grow due to a rise in the number of acquisitions by major players to expand their product range of cardiovascular devices. For instance, Abbott acquired St. Jude Medical, Inc. in January 2017. Abbott's global medical device presence has been enhanced by the acquisition of St. Jude Medical, which provides new solutions to resolve more areas of care in a significant number of hospitals across the world.

Some of the key players contributing to the global cardiac implants market are Lepu Medical Technology Co Ltd., Boston Scientific Corp., Qinming Medical, Shree Pacetronix Ltd., Vitatron Holding B.V., Cordis Inc., MEDICO S.p.A., Abbott Laboratories, and Medtronic Plc.

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Cardiac Implant Market research provides answers to the following key questions:

• What is the expected growth rate of the Cardiac Implant Market?

• What will be the Cardiac Implant Market size for the forecast period, 2021–2028?

• What are the main driving forces responsible for changing the Cardiac Implant Market trajectory?

• Who are the big suppliers that dominate the Cardiac Implant Market across different regions? Which are their wins to stay ahead in the competition?

• What are the Cardiac Implant Market trends business owners can rely upon in the coming years?

• What are the threats and challenges expected to restrict the progress of the Cardiac Implant Market across different countries?

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