Global Cardiac Implants Market to Surpass US$ 66,953.4 Million by 2030, Says Coherent Market Insights

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Jun 17, 2022, 13:30 ET

SEATTLE, June 17, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global cardiac implants market is estimated to be valued at US$ 35,795.6 Million in 2022 and is expected to exhibit a CAGR of 8.1% during the forecast period (2022-2030).

Key Trends and Analysis of the Global Cardiac Implants Market:

Market players are engaged in rapid research and development activities to develop technologically advanced cardiac implants, which is expected to drive the market growth over the forecast period. For instance, in April 2022, Abiomed, a U.S.-based medical device company announced that the first patient in the world has been successfully implanted with its new Impella Bridge-to-Recovery (BTR) system at Northwestern Medicine Bluhm Cardiovascular Institute, as a part of the U.S. Food and Drug Administration Early Feasibility Study.

Moreover the increasing approval by the regulatory bodies for carrying out research related studies is expected to drive the market. For instance, in January 2022, Abiomed announced that it had received the U.S. FDA approval for Early Feasibility Study. The aim of Impella BTR development study is to provide a chronic heart failure patient with home discharge and up to 1 year of full hemodynamic support. Impella BTR is a forward flow heart pump which is implanted via the axillary artery and stays in the left ventricle. It is smaller in size and less invasive than traditional LVADs (Left ventricular assist device). Impella BTR allows chronic heart failure patients to have a longer-term minimally invasive heart pump option as compared to conventional LVADs.

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Key Market Takeaways:

Global cardiac implants market is expected to exhibit a CAGR of 8.1% during the forecast period, owing to launch of new cardiac implants. Cardiac patients prefer non-surgical and minimally invasive options for the treatment of heart conditions such as arrhythmias, heart failure, heart attacks, and others. Medical devices such as wearable cardiac defibrillator, wearable automatic pacemakers, and others may act as substitutes/alternatives to cardiac implants due to the reduced risk of infection and non-invasive nature of these devices. Market players are engaged in obtaining regulatory approvals for wearable cardiac devices. For instance, in July 2021, Kestra Medical Technologies, a U.S.-based wearable medical device company announced that it had received the U.S. FDA approval for its ASSURE Wearable Cardioverter Defibrillator (WCD) System, which is a next generation of monitoring and therapy to protect patients at the risk of sudden cardiac arrest.

Among device type, coronary stents segment is estimated to account large market share in 2022. Increasing focus of market players in research and development activities for developing advanced coronary stents is expected to drive the segment growth over the forecast period. For instance, in July 2020, Sino Medical Sciences Technology Inc., a China-based medical device company announced that it had completed one year follow-up in the PIONEER-III clinical trial of its investigational device called BuMA Supreme Drug-Eluting Coronary Stent (DES). BuMA Supreme DES is an advanced coronary stent which is developed to maximize functional healing of the blood vessels after a stent implantation.

Key players operating in the global cardiac implants market include Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Edwards Lifesciences Corporation, Meril Life Sciences Pvt. Ltd. , Lepu Medical Technology (Beijing) Co., Ltd., BIOTRONIK SE & Co. KG, OSYPKA MEDICAL, Pacetronix.com, Vitatron, Terumo Corporation, Cordis, MicroPort Scientific Corporation.

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Detailed Segmentation:

Global Cardiac Implants Market, By Device Type

Pacemaker Devices
Cardiac Resynchronization Therapy Devices
Implantable Hemodynamic Monitoring Devices
Implanted Heart Rhythm Monitors
Coronary Stents
Implantable Cardioverter Defibrillator
Heart Valve
Others

Global Cardiac Implants Market, By Application

Arrhythmias
Myocardial Ischemia
Acute Myocardial Infraction
Congestive Heart Failure
Others

Global Cardiac Implants Market, By End User

Hospitals
Specialty Clinics
Others

Global Cardiac Implants Market, By Region:

North America

By Country:

U.S.
Canada

Europe

By Country:

U.K.
Germany
Italy
France
Spain
Russia
Rest of Europe

Asia Pacific

By Country:

China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific

Latin America

By Country:

Brazil
Mexico
Argentina
Rest of Latin America

Middle East & Africa

By Country:

GCC Countries
Israel
South Africa
Rest of Middle East & Africa

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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