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Heart Block Devices: A Lifesaving Shift in Global Treatment Dynamics
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According to The Business Research Company's, The heart blocks treatment devices market size has grown strongly in recent years. It will grow from $3.11 billion in 2023 to $3.3 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to growth in implantable cardioverter defibrillators (icds), evolution of cardiac resynchronization therapy (crt), miniaturization and leadless devices, clinical trials and evidence-based medicine, guidelines and recommendations, increasing incidence of cardiovascular diseases.
The heart blocks treatment devices market size is expected to see strong growth in the next few years. It will grow to $4.13 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to wireless connectivity and remote monitoring, expansion of wearable cardioverter defibrillators (wcds), personalized treatment algorithms, patient-centric design and comfort, increased adoption of mri-compatible device.. Major trends in the forecast period include growing integration of telemedicine platforms, remote programming and updates, ai-driven predictive maintenance, emphasis on user experience, expansion of home-based care..
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Market Drivers and Trends:
The rising prevalence of cardiovascular disease is expected to propel the growth of the heart blocks treatment devices market going forward. Cardiovascular diseases affect the heart and blood vessels and include conditions such as coronary artery disease, heart failure, and stroke. The rapidly increasing incidence of cardiovascular disease is mostly driven by the aging population, changes in lifestyle and diet, and increasing rates of obesity and diabetes, where heart blocks treatment devices can be used to treat cardiovascular disorders by addressing abnormalities or defects in the structures and blocks of the heart. For instance, in May 2023, according to an article by the Centers for Disease Control and Prevention, a US-based national public health agency, one person dies every 33 seconds in the United States from cardiovascular disease. About 695,000 people in the United States died from heart disease in 2021; that's 1 in every 5 deaths. Therefore, the rising prevalence of cardiovascular disease is driving the growth of the heart blocks treatment devices market.
Technological advancements are a key trend gaining popularity in the heart blocks treatment devices market. Companies operating in the heart blocks treatment devices market are adopting new technologies to sustain their position in the market. For instance, in January 2023, Medtronic, a US-based company engaged in services, medical technology, and solutions launched the world's smallest pacemaker to treat heart block. Micra AV is a miniature, fully self-contained pacemaker that uses a minimally invasive method to provide patients with an atrioventricular (AV) block with innovative pacing technology. This pacemaker is the first to be able to detect atrial activity without the use of a lead or other accessory in the upper chamber of the heart.
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Major Key Players of the Market:
MicroPort Scientific Corporation, GE HealthCare, Abbott Laboratories, Medtronic plc, Koninklijke Philips N.V., Stryker Corporation, Boston Scientific Corporation, Nihon Kohden Corporation, Lepu Medical Technology (Beijing) Co., Zoll Medical Corporation, LivaNova PLC, Abiomed Inc., Cardiac Dimensions, EBR Systems Inc., Endotronix Inc., Calon Cardio, CVRx Inc., BioVentrix Inc., CorWave SA, Leviticus Cardio, BiVACOR, Biotronik SE and CO KG, CorMatrix Cardiovascular, Shree Pacetronix Ltd., Jarvik Heart Inc., Osypka Medical GmbH.
Heart Blocks Treatment Devices Market 2024 Key Insights:
• The heart blocks treatment devices market size is expected to see strong growth in the next few years. It will grow to $4.13 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Cardiovascular Disease Surge Propels Expansion Of Heart Block Treatment Devices Market
• Transforming Heart Blocks Treatment With Minimally Invasive Technology
• North America was the largest region in the heart blocks treatment devices market in 2023
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