Cardiac implant is a process in which a device with a wire is implanted into the heart tissue which can deliver electrical shocks and detect the rhythm of the heart. Cardiac devices are used to control irregular heartbeats in people with heart rhythm disorders. These irregularities are caused by problems with the heart’s electrical system, which signals the heart to contract and pump blood throughout the body.
The cardiac implants market growth is predicted to boost due to increasing research and development, technological advancement, rising awareness about cardiac. High prevalence of cardiac disorders among middle class population is another significant driver for heart implants market However, major factor hindering the growth of the cardiac implant market during the forecast period includes lack of trained professionals and increasing rate of complex cardiac implant methods.
The report analyses the cardiac implants market on the basis of product, application, end user and geography.
The cardiac implants market by product is segmented into cardiac rhythm management devices, coronary stent devices, prosthetic heart valves and cardiac assist devices. cardiac rhythm management devices are further divided into cardiac resynchronization therapy (CRT) devices, pacemaker devices and implantable cardioverter defibrillator (ICD) devices. Additionally, coronary stent devices segment is bifurcated into drug eluting stents, bare metal stents and bioabsorbable stents. The prosthetic heart valves are categorized into mechanical heart valve devices, tissue heart valve devices and transcatheter aortic valve implantation (TAVI). cardiac assist devices are sub segmented into ventricular assist devices and total artificial heart. The implantable cardioverter defibrillator (ICD) devices segment is expected to command the largest share of cardiac implants market during the forecast period. The high growth is attributed to newly developed ICD’s which can prevent the heart from cardiac arrest and act as pacemaker to make heart beat at proper rate and rhythm.
Based on application, the cardiac implants market is categorized into arrhythmias, myocardial ischemia, acute myocardial infarction and congestive heart failure. The congestive heart failure segment is forecasted to account for highest CAGR during the forecast period. Factors such as growing occurrence of epilepsy & incidence of various neurodegenerative and sleep disorders will ensure the healthy growth of the market in the future.
Based on end user, the global cardiac implants market is categorized into hospitals, ambulatory surgical centres (ASCs) and speciality clinics. Among these segments, hospitals segment accounted for largest share in the market followed by ambulatory surgical centres. The largest share of this segment can be primarily attributed to full range of services provided that includes surgery to intensive care, rising installations of cardiac implants devices and increasing rate cardiovascular procedures in the hospital.
By geography cardiac implants market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Middle East & Africa. North America accounted for largest share in the global cardiac implants market and is expected to be the fastest-growing region during the prediction period owing to growing occurrence and frequency of cardiac disorders and increasing healthcare expenditure in the region.
Some of the key participants in the cardiac implant market are Medtronic, Boston Scientific Corporation, Abbott, Edwards LifeScience Corporation, Thoractec Corporation, SynCardia Systems, LLC, etc. Expansions, mergers and partnership are the strategies implemented by key market players to expand their R&D competences and geographic presence in the global market. Abbott innovated a cardiac rhythm management (CRM) systems that providing reliable performance and safety from implant to follow up.
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