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The global cardiovascular implants market reached a value of US$ 23.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 33.6 Billion by 2027, exhibiting at a CAGR of 6.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Cardiovascular implants are medical devices used to treat cardiovascular disorders, including heart failure, myocardial infarction, peripheral arterial, aortic disease, and coronary artery diseases. They remain inside the body of a patient for the proper functioning of the heart and blood vessels. They assist in relieving symptoms of a slow and irregular heart rhythm. They consist of a transventricular splint with epicardial pads adjusted to decrease the LV radius, which produces the left ventricle to become smaller and energetically efficient. They can recognize a severe heart rhythm and transmit messages to the heart for maintaining the heart rhythm.
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Cardiovascular Implants Market Trends:
The growing cases of heart failure on account of the increasing prevalence of cardiovascular diseases (CVDs) represent one of the key factors positively influencing the demand for cardiovascular implants worldwide. It can also be attributed to sedentary lifestyles, unhealthy dietary patterns, high-stress levels, diabetes, and obesity among the masses. Moreover, the rising aging population, which is more prone to medical conditions, along with significant improvements in the healthcare infrastructure, is contributing to the market growth. In addition, increasing preferences for minimally invasive surgeries (MIS) due to their associated benefits is driving the market. Apart from this, the integration of artificial intelligence (AI), predictive analytics, and advanced algorithms for early detection of heart disease, treating strokes faster, and enhancing diagnostic radiology capabilities are creating a positive outlook for the market. Besides this, the rising public awareness about advancements in medical technology, and extensive research and development (R&D) activities, are offering lucrative growth opportunities to industry investors.
IMARC Group provides an analysis of the key trends in each sub-segment of the global cardiovascular implants market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on product type, material, procedure type, and indication.
Breakup by Product Type:
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ICD dominates the market as it assists in recording, reporting, and monitoring diseases.
Breakup by Material:
Based on the material, the market has been segmented into metals and alloys, polymers and biological materials.
Breakup by Procedure Type:
Based on the procedure type, the market has been segmented into angioplasty and open-heart surgery.
Breakup by Indication:
Arrhythmias exhibit a clear dominance in the market as they facilitate the symptoms of irregular heartbeat and fluttering in the chest.
Breakup by Region:
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North America holds the majority of the global cardiovascular implants market share due to the well-established healthcare infrastructure in the region.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are BIOTRONIK SE & Co. KG, Abbott Laboratories, AMG International, B. Braun Melsungen AG, Johnson & Johnson Services, Inc., W. L. Gore & Associates, Inc., Medtronic Private Limited, Boston Scientific Corporation, Sorin Corporation, Edwards Lifesciences Corporation, Fortimedix Surgical B.V., Neovasc Inc., CryoLife Inc., Proxy Biomedical Ltd., REVA Medical, LLC., and Shree Pacetronix Ltd.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Product Type, Material, Procedure Type, Indication, Region |
| Region Covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | Biotronik, Abbott Laboratories, AMG International, B-Braun, Johnson & Johnson, W.L. Gore & Associates, Medtronic, Boston Scientific, Sorin, Edwards Lifesciences, Fortimedix, Neovasc Inc., On-X Life Technologies, Proxy Biomedical, Reva Medical and Shree Pacetronix Ltd. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global cardiovascular implants market was valued at US$ 23.0 Billion in 2021.
We expect the global cardiovascular implants market to exhibit a CAGR of 6.2% during 2022-2027.
The rising integration of AI and predictive analytics with cardiovascular implants device for early detection of heart disease, treating strokes faster, and enhancing diagnostic radiology capabilities, is primarily driving the global cardiovascular implants market.
The sudden outbreak of the COVID-19 pandemic had led to the postponement of elective cardiovascular surgeries to reduce the risk of the coronavirus infection upon hospital visits or interaction with healthcare professionals or medical equipment, thereby limiting the application of cardiovascular implant devices.
Based on the product type, the global cardiovascular implants market has been segmented into coronary stent, ICD, heart valve, implanted cardiac pacemaker, CRT device, and peripheral stent. Among these, ICD currently exhibits a clear dominance in the market.
Based on the indication, the global cardiovascular implants market can be divided into arrhythmias, myocardial ischemia, acute myocardial infarction, congestive heart failure, and others. Currently, arrhythmias hold the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global cardiovascular implants market include BIOTRONIK SE & Co. KG, Abbott Laboratories, AMG International, B. Braun Melsungen AG, Johnson & Johnson Services, Inc., W. L. Gore & Associates, Inc., Medtronic Private Limited, Boston Scientific Corporation, Sorin Corporation, Edwards Lifesciences Corporation, Fortimedix Surgical B.V., Neovasc Inc., CryoLife Inc., Proxy Biomedical Ltd., REVA Medical, LLC., and Shree Pacetronix Ltd.
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