Press release
Emerging Cardiac Prosthetic Devices Market Trend 2025-2034: Medtronic Launched Innovative Transcatheter Pacing Systems For Cardiac Care With Minimally Invasive
Cardiac Prosthetic Devices Market Size
The market for cardiac prosthetic devices has experienced swift expansion in the past few years. The market, which sat at $8.2 billion in 2024, is anticipated to escalate to $9.15 billion in 2025. This indicates a compound annual growth rate (CAGR) of 11.5%. Factors that have contributed to this significant growth in the historical period include a surge in the elderly population susceptible to cardiovascular diseases, heightening instances of cardiovascular diseases, enhanced surgical procedures, increased awareness about cardiac health amongst patients and medical practitioners, as well as beneficial governmental policies and investments in cardiovascular health initiatives.
The market for cardiac prosthetic devices is predicted to experience significant expansion in the coming years, escalating to a value of $13.97 billion in 2029 with a compound annual growth rate (CAGR) of 11.2%. The projected growth within this period is linked to factors such as the surge in older individuals susceptible to heart-related issues, higher expenditure on healthcare services and devices, positive insurance and reimbursement policies, greater patient inclination towards advanced treatment methodologies, and the rising prevalence of lifestyle-induced cardiac diseases. Key trends in the forecasted term encompass the creation of smaller, more efficient cardiac prosthetic devices designed for minimal invasive procedures, the application of cutting-edge biocompatible materials, amalgamation with wearable technology, enhancements in battery technology, and the use of 3D printing technology.
What Factors Are Propelling the Expansion of the Cardiac Prosthetic Devices Market?
The cardiac prosthetic devices market is projected to expand significantly due to the increasing cases of cardiovascular diseases (CVDs). CVDs, comprising disorders of the heart and blood vessels like coronary artery disease, heart attacks, and strokes, are primarily caused by unhealthy lifestyles, obesity, poor nutrition, lack of physical activity, high stress, and an aging demographic. Cardiac prosthetic devices, which are crucial in managing symptoms of CVDs by supporting or substituting the heart's activity or parts, consequently observe a surge in demand. For example, data from the British Heart Foundation, a UK-based cardiac research non-profit, indicated that as of January 2024, approximately 7.6 million individuals were diagnosed with heart and circulatory diseases in the UK, with close to 4 million men and 3.6 million women living with these ailments. As these diseases account for around 27% of all UK fatalities - over 170,000 people die annually or about 480 each day, equivalent to one death every three minutes - the rising incidence of CVDs is fostering the growth of the cardiac prosthetic devices market.
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Who Are the Major Industry Players Fueling Cardiac Prosthetic Devices Market Expansion?
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
Which Key Developments Are Influencing the Cardiac Prosthetic Devices Market?
Leading businesses in the cardiac prosthetic devices market are striving to create innovative technologies like transcatheter pacing systems which can augment cardiac function, minimize the complexity of procedures and boost patient results when dealing with heart rhythm disorders. Transcatheter pacing systems are the types of equipment that can be implanted using a catheter, which allows for regulation of the heart's electrical activity without the need for external cables or surgical procedures. For example, in January 2022, Medtronic plc, a medical device firm headquartered in Ireland, introduced the Micra AV Transcatheter Pacing System, a small, non-invasive device engineered to regulate bradycardia, or slow heart rate. The Micra AV TPS is built to offer accurate, consistent pacing for bradycardia patients, integrating state-of-the-art technology to harmonize pacing with the heart's innate rhythm. Its small size and interior battery contribute to an extended life expectancy, while its remote tracking capacities allow medical professionals to monitor the device's functioning and patient outcomes more efficiently.
How Is the Segmentation of the Cardiac Prosthetic Devices Market Defined?
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 Is the Leading Region in the Cardiac Prosthetic Devices Market?
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.
What Is Covered In The Cardiac Prosthetic Devices Global Market Report?
- Market Size Analysis: Analyze the Cardiac Prosthetic Devices Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Cardiac Prosthetic Devices Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Cardiac Prosthetic Devices Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Cardiac Prosthetic Devices Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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