Cardiovascular Prosthetic Device Market Size Share & Forecast 2023-2030

Global Cardiovascular Prosthetic Device Market Anticipates Significant Growth, Projected to Reach US$ 28.9 Billion by 2030

The global Cardiovascular Prosthetic Device Market, which achieved a valuation of US$ 15.3 billion in 2022, is poised for robust expansion, expecting to reach US$ 28.9 billion by 2030, with a notable Compound Annual Growth Rate (CAGR) of 8.4% during the forecast period spanning 2023 to 2030. This growth is attributed to the escalating incidence of heart failures, driving the demand for cardiovascular prosthetic devices. Notably, North America, spearheaded by technological advancements in countries like the U.S. and Canada, emerges as a key contributor to this surge in market demand.

Cardiovascular prosthetic devices, both implantable and external, play a pivotal role in replacing or assisting parts of the cardiovascular system, including the heart, arteries, or veins. Market leaders such as Abbott Laboratories, Boston Scientific, and Medtronic are actively shaping the landscape of this dynamic market.

Market Scope and Metrics:

CAGR: 8.4%
Size Available for Years: 2021-2030
Forecast Period: 2023-2030
Data Availability: Value (US$)
Segments Covered: Product Type, End User
Regions Covered: North America, Europe, Asia-Pacific, South America, Middle East & Africa
Fastest Growing Region: Asia-Pacific
Largest Region: North America

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Market Dynamics:

The market growth is propelled by an increase in cardiovascular diseases globally, with heart disease being the leading cause of death, according to the World Health Organization. Additionally, the rise in obesity, linked to lifestyle changes and dietary habits, is contributing to the prevalence of high cholesterol and, consequently, cardiovascular diseases. However, challenges arise from complications associated with cardiovascular prosthetic devices, including structural failures and intravascular hemolysis, as highlighted by the European Society of Cardiology.

Segment Analysis:

The pacemaker segment holds a substantial 39.7% share in the global Cardiovascular Prosthetic Device Market. Pacemakers, small devices implanted in the chest to regulate heartbeats, play a crucial role in addressing arrhythmia cases. The prevalence of arrhythmia, affecting around 454,000 individuals annually in the United States, is driving the growth of this segment.

Geographical Penetration:

In 2022, North America accounted for approximately 38.7% of the market share, fueled by the rising prevalence of cardiovascular diseases and advancements in heart-related technologies. Notably, the United States witnesses a significant number of individuals with implantable pacemakers, ranging from 500,000 to 3 million.

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Competitive Landscape:

Key players in the Cardiovascular Prosthetic Device Market include Abbott Laboratories, Boston Scientific Corporation, Lepu Medical Technology Co. Ltd, Medtronic Inc, Biotronik, Meril Life Sciences Pvt. Ltd, Pacetronix, MicroPort Scientific Corporation, Artivion, Inc, and JC Medical, Inc.

By Product Type:
Pacemakers
Implanted heart valves
Stents
Others

End User:
Hospitals
Clinics/Cardiac Centers
Ambulatory Surgical Centers
Others

By Region:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
Middle East and Africa

Related Reports:

Cardiovascular Ultrasound System Market: https://www.datamintelligence.com/research-report/cardiovascular-ultrasound-system-market

Cardiovascular Prosthetic Device Market: https://www.datamintelligence.com/research-report/cardiovascular-prosthetic-device-market

Cardiovascular Devices Market: https://www.datamintelligence.com/research-report/cardiovascular-devices-market

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