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
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.
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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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Available Upon Request
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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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