Press release
Rising Cardiovascular Disease Rates Drive Growth in Cardiac Prosthetic Devices Emerges as a Core Driver of the Cardiac Prosthetic Devices Market in 2025
Cardiac Prosthetic Devices
What Is the Expected CAGR for the Cardiac Prosthetic Devices Market Through 2025?
In recent years, the market size of cardiac prosthetic devices has witnessed swift expansion. Forecasts predict an increase from $8.2 billion in 2024 to $9.09 billion in 2025, which represents a compound annual growth rate (CAGR) of 10.9%. Factors contributing to the growth in the past include a surge in the number of elderly individuals with cardiovascular ailments, increased incidents of heart-related diseases, advancements in surgical procedures, heightened awareness about cardiac health among patients and healthcare providers, and favorable government policies alongside funding for heart health initiatives.
What's the Projected Size of the Global Cardiac Prosthetic Devices Market by 2029?
The market for cardiac prosthetic devices is projected to witness a substantial surge in the coming years, scaling to a value of $13.99 billion by 2029 with a CAGR of 11.4%. This predicted growth during the forecast period can be traced back to a rising older population susceptible to heart ailments, augmented investment in healthcare services and products, attractive insurance and reimbursement policies, enhanced patient inclination for superior treatment methodologies, and an increasing pervasiveness of heart conditions linked to lifestyle. The forecast timeline is set to experience key trends such as the creation of compact, more productive cardiac prosthetic devices suitable for minimally invasive surgeries, pioneering biocompatible materials, incorporation with wearable tech, advancements in battery tech, and the application of 3D printing technology.
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Top Growth Drivers in the Cardiac Prosthetic Devices Industry: What's Accelerating the Market?
The escalation in the incidence of cardiovascular diseases is projected to fuel the expansion of the cardiac prosthetic devices market in the coming years. Cardiovascular diseases (CVDs), a cluster of disorders impacting the heart and blood vessels, encompass conditions such as heart attacks, strokes, and coronary artery disease. The rise in cardiovascular diseases is attributed to an unhealthy lifestyle, obesity, substandard eating habits, physical inactivity, heightened stress levels, and an aging community. Cardiac prosthetic devices have a critical part to play in addressing cardiovascular diseases by assisting or substituting the heart function or its parts. For example, data released by the British Heart Foundation, a UK-based cardiovascular research charity, revealed that in January 2024, about 7.6 million individuals in the UK suffer from heart and circulatory diseases. Moreover, these comprise approximately 4 million males and 3.6 million females. These health conditions are accountable for nearly 27% of all UK deaths, amounting to more than 170,000 fatalities every year, or roughly 480 deaths per day, which means one death every three minutes. Hence, the high prevalence of cardiovascular diseases is stimulating the growth of the cardiac prosthetic devices market.
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Which Fast-Growing Trends Are Poised to Disrupt the Cardiac Prosthetic Devices Market?
Leading businesses in the cardiac prosthetic devices industry are focusing on the creation of innovative solutions such as transcatheter pacing systems. These systems aim to boost cardiac operation, decrease the invasiveness of procedures, and heighten the results for patients suffering from heart rhythm disturbances. Transcatheter pacing systems, which are inserted via a catheter, allow for the regulation of the heart's electrical impulses without requiring external wires or surgical intervention. For example, Medtronic plc, a firm that produces medical devices and is headquartered in Ireland, introduced the Micra AV Transcatheter Pacing System in January 2022. This minimally invasive, compact device is developed to treat bradycardia, or an abnormally slow heart rate. The Micra AV TPS offers accurate and dependable pacing for those with bradycardia, and it uses cutting-edge technology that aligns the pacing with the heart's innate rhythm. Further, the device's miniaturized nature and inbuilt battery enhance its range of usability. Additionally, the system's remote monitoring functions allow healthcare professionals to more effectively oversee the device's functioning and the progress of patients.
What Are the Main Segments in the Cardiac Prosthetic Devices Market?
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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Which Top Companies are Driving Growth in the Cardiac Prosthetic Devices Market?
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 Regions Will Dominate the Cardiac Prosthetic Devices Market Through 2029?
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.
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