Cardiac Implants are specific devices that can monitor the normal heart functions, detect fluctuations, and provides information about heart. These devices include implantable cardioverter defibrillators (ICDs), pacemakers, implantable hemodynamic monitoring, cardiac resynchronization therapy, and implanted heart rhythm monitors that are also acknowledged as loop recorders. These implants are generally used to treat the arrhythmias, myocardial ischemia, and acute myocardial infarction. ICD is one of those heart implants that supports weak heart patients with programs like low energy pacing, high energy shock.
Increase in prevalence of cardiovascular diseases, rise in awareness on preventive care and advancements in surgical techniques is propelling the market growth. Additionally, growth in number of regulatory approvals for innovative & advanced cardiac implant devices is likely to facilitate the growth of cardiac market in the near future.
As per analysis, “Global Cardiac Implants Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027” the key companies operating in the global cardiac implants industry include St. Jude Medical, Abbott Vascular, SynCardia, Boston Scientific, Thoratec, Edwards, Medtronic and among others. The increasing adoption of inorganic growth strategies for instance partnerships & collaborations between key players & healthcare providers to improve their product portfolios is predictable to drive the demand for heart implants throughout the forecast period.
Based on type, cardiac implants market can be categorized as prosthetic heart valves, cardiac implants, cardiac assist devices and coronary stent devices. Prosthetic heart valves include tissue heart valve devices, mechanical heart valve devices and Transcatheter Aortic Valve Implantation (TAVI). Cardia assist devices include total artificial heart and ventricular assist devices. Additionally, coronary stent devices include bare metal stents, drug eluting stents and bio-absorbable stents. In addition, based on application area, market can be categorized as drug stores, retail pharmacies, hospital pharmacies and online stores.
Growth in population of older adults, followed by rise in prevalence of cardiac diseases, growth in development in medical infrastructure, rise in popularity of minimally invasive surgeries and rapid growth in technology & treatment methods are some major factors, which are responsible for growth of the Global Cardiac Implants Market. However, the risk of injections from these implants and the high cost associated with these heart implants may impact the market. Moreover, rise in availability of better medical facilities, introduction of new advanced technologies in medical implants, large number of cases with damaged organs because of different types of accidents are leading opportunities for market.
Based on regional analysis, the North-America is a leading region in global cardiac implants market owing to rise in demand for pacemakers across the region. The Europe and Asia-Pacific regions are estimated to witness higher growth rate due to increase in healthcare concerns for stroke prevention associated with the atrial fibrillation coupled with surge in preference for technologically advanced products for the cardiac rhythm management over the forecast period. It is anticipated that future of the global cardiac implants market will be bright on account of growth in technical advancements, increase in number of initiatives for heart patients by the insurance companies and rise in awareness of healthcare in people during the forecast period.
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Ankur Gupta, Head Marketing & Communications