Cardiovascular Prosthetic Devices Market Revenue, Opportunity, Segment and Key Trends 2015-2025
Cardiovascular prosthetic devices are used to repair damaged or diseased natural valves of the heart. These devices are used to repair a damaged heart valve and to treat patient with a septal defect.
Valvular Heart Disease (VHD) remains a common disease indication in the developed countries. Aortic Stenosis and Mitral Valve Regurgitation are the most common indication for Valvular disease. The prevalence of VHD increase with age. Though accurate disease prevalence data are lacking. However, the overall prevalence of VHD is estimated around 2.5% in the United States.
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Cardiovascular Prosthetic Devices Market: Drivers and Restraints
The cardiovascular prosthetic devices market is driven by aging population, increasing rates of cardiovascular diseases, increasing prevalence of Valvular disease and Atrial Septal Defect (ASD), high adaptation rates of these devices, and new technology innovations will drive the market in the forecast period.
Rising preference for minimally-invasive procedures, consistent growth in the geriatric population, rise in obesity followed by continuous product modification and technological up gradation resulting in development of effective devices would propel the growth and uptake of cardiac prosthetic devices.
Stringent approval process of these devices and certain clauses of the Affordable Healthcare Act. These factors are acting as a barrier in the adoption of such treatment and devices.
Cardiovascular Prosthetic Devices Market: Segmentation
The global cardiovascular prosthetic devices market is segmented into these following categories:
- Cardiac Valve Repair
- Annuloplasty Ring
- Flexible Annuloplasty Ring
- Semi-Rigid Annuloplasty Ring
- 3D Annuloplasty Ring
- Annuloplasty Ring
- Septal Occluder
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Cardiovascular Prosthetic Devices Market: Overview
With rapid technological advancement and wide acceptance of cardiovascular heart valve repair procedures among patients with cardiac disorder, the global cardiovascular prosthetic devices market is expected to grow at healthy CAGR in the forecast period (2015-2025).
Cardiovascular Prosthetic Devices Market: Region-wise Outlook
Depending on geographic regions, global cardiovascular prosthetic devices market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
North America is the largest market for cardiovascular prosthetic devices followed by the European region. Cardiovascular diseases such as valvular and rheumatic diseases have increased significantly in the developed nations. Asia Pacific region is expected to witness considerable growth throughout the forecast period due to rapid growth in development of medical infrastructure.
Cardiovascular Prosthetic Devices Market: Key Players
Some of the key participating players in the global cardiovascular prosthetic devices market are St. Jude Medical Inc., Sorin Group, Edward Lifesciences Corp., Medtroic Inc., W. L. Gore & Associates, Inc., Abbott Laboratories and Lifetech Scientific (Shenzhen) Co., Ltd.