According to IMARC Group’s latest report, titled “Cardiac Prosthetic Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global cardiac prosthetic devices market reached a value of US$ 5.4 Billion in 2020. Looking forward, IMARC Group expects the global cardiac prosthetic devices market to grow at a CAGR of 8.6% during 2021-2026.
Cardiac prosthetic devices are artificial devices implanted temporarily or permanently for supporting the proper functioning of damaged heart tissues. They are also used for maintaining blood flow, preventing blockage in arteries and improving the overall quality of life in patients. Some of the commonly utilized cardiac prosthetic devices include pacemakers, ventricular assist devices, defibrillators, annuloplasty rings and heart valves.
On account of the sedentary lifestyles and unhealthy dietary patterns, there is an increase in the prevalence of cardiovascular diseases (CVDs) and other heart ailments, such as coronary artery disease (CAD). This represents one of the significant factors bolstering the growth of the market. Moreover, advancements in heart valve replacement devices and the introduction of compact-sized pacemakers are impelling the market growth. Other factors, such as the rising trend of minimally invasive surgery (MIS), growing geriatric population and extensive research and development (R&D) activities, are expected to drive the global cardiac prosthetic devices market further in the coming years.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Cardiac Prosthetic Devices Market 2021-2026 Competitive Analysis and Segmentation:
The competitive landscape of the global cardiac prosthetic devices market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the global cardiac prosthetic devices market on the basis of product type, end user and region.
Breakup by Product Type:
Breakup by End-User:
Breakup by Region:
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Key highlights of the report:
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