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Cardiovascular Prosthetic Devices Market

Market Insights on Cardiovascular Prosthetic Devices covering sales outlook, demand forecast & up-to-date key trends

Cardiovascular Prosthetic Devices Market by Product, Application, End User & region - Forecast 2022 - 2032

Cardiovascular Prosthetic Devices Market Overview (2022-2032)

The global cardiovascular prosthetic devices market has set a valuation of US$ 5.1 Bn in 2021, and further, is expected to expand at a CAGR of 8.1% to reach US$ 11.9 Bn by the year 2032.

“Rising prevalence of cardiovascular diseases and demand for minimally-invasive procedures is expected to uplift the cardiovascular prosthetic devices market growth.”

Attributes

Details

Cardiovascular Prosthetic Devices Market Value in 2021

US$ 5.1 Bn

Cardiovascular Prosthetic Devices Market Value in 2032

US$ 11.9 Bn

Cardiovascular Prosthetic Devices Market CAGR (2022-2032)

8.1%

The purpose of developing cardiovascular prosthetic devices is to replace damaged heart tissues. The functionality of these devices is intended to resemble that of typical cardiovascular systems. The use of cardiovascular prosthetics has improved the way cardiac surgeons treat heart blockages. Pacemakers and heart valves are the two most common prosthetics.

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What are the Major Drivers Boosting the Demand for Cardiovascular Prosthetic Devices Market?

The market for cardiovascular prosthetic devices is driven owing to the increasing prevalence of atrial septal defect (ASD) and valvular disease, the increasing rates of cardiovascular diseases, and the geriatric population. The new technology innovations and growing adaptation rates of these devices are likely to propel the market in the forecast period.

Additionally, constant growth in the elderly population, increasing preference for minimally-invasive procedures, technological upgradation resulting in the development of effective devices, and an upsurge in obesity followed by continuous product development are expected to boost the market for cardiovascular prosthetic devices. Moreover, the rising prevalence of hypertension among people is predicted to rise in the cardiovascular prosthetic market in the projected period.

Which Region Shows Strong Growth Potential in the Cardiovascular Prosthetic Devices Market?

Due to the high prevalence of cardiovascular disorders such as rheumatic diseases and valvular disorders and the growing demand for the devices in the North American countries are expected to develop the highest market for cardiovascular prosthetic devices in the projected years.

Europe is also expected to grow with a lucrative market share. With the rising prevalence of heart valve disease and irregular heart rhythm disease, along with the quick adoption of improved prosthetic devices, the market is expected to grow in the near future.

The rising population and developing healthcare infrastructure in the developing countries in the Asian region are predicted to expand the growth of the cardiovascular prosthetic devices market. Adding to that the developing reimbursement policies in these is propelling the market growth.

Sabyasachi Ghosh
Principal Consultant
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Who are the Key Players in the Cardiovascular Prosthetic Devices Market?

Some of the market players operating in the cardiovascular prosthetic devices market are Abbott Laboratories, Edwards Lifesciences Corporation., Medtroic Inc., W. L. Gore & Associates, Inc., Lifetech Scientific Co., Ltd., Abiomed, Inc., BIOTRONIK SE & Co. KG, Pacetronix, Meril Life Sciences Pvt. Ltd., Venus Medtech and others.

Scope of Report

Report Attributes

Details

Growth Rate

CAGR of 8.1% 2022-2032

Base Year for Estimation

2021

Historical Data

2012-2021

Forecast Period

2022-2032

Qualitative Units

Revenue in USD Billion, Volume in Units, and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segment Covered

  • Product
  • Application
  • End User
  • Region

Region Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • GCC
  • South Africa
  • Israel

Key Players

  • Abbott Laboratories
  • Edwards Lifesciences Corporation.
  • Medtroic Inc.
  • W. L. Gore & Associates, Inc.
  • Lifetech Scientific Co., Ltd.
  • Abiomed, Inc.
  • BIOTRONIK SE & Co. KG
  • Pacetronix
  • Meril Life Sciences Pvt. Ltd.
  • Venus Medtech

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Key Segments Covered in the Cardiovascular Prosthetic Devices Industry Survey

By Product:

  • Valves
  • Pacemakers

By Application:

  • Surgery
  • Research

By End User:

  • Hospitals
  • Cardiac Centers
  • Ambulatory Surgical Centers
  • Specialty Clinics

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • The Middle East and Africa (MEA)

Frequently Asked Questions

The global cardiovascular prosthetic devices market is anticipated to register a CAGR of 8.1% during the forecast period.

The top 3 players in the global cardiovascular prosthetic devices market are Abbott Laboratories, Edwards Lifesciences Corporation., and Medtroic Inc.

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Sabyasachi Ghosh
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Cardiovascular Prosthetic Devices Market