Market Research Report
Global Cardiovascular Prosthetic Device Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||577326|
|Published||Content info||190 Pages
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|Global Cardiovascular Prosthetic Device Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023|
|Published: October 28, 2017||Content info: 190 Pages||
The global cardiovascular prosthetic devices market is expected to rise at a CAGR of 8.5% during the forecast period 2016-2023. The key factors driving the market growth are rising prevalence of cardiovascular diseases, increasing geriatric population base, rising health insurance coverage, rising preference for minimally-invasive procedures and increasing prevalence of valvular disease and atrial septal defect (ASD). However, restraining factors such as fluctuation in anticoagulant medication level and stringent approval process are expected to hinder the market growth.
Geographically, North America is the largest market region for global cardiovascular prosthetic device market in terms of market revenue share. The key factors driving the market growth in North America is the rising prevalence of cardiovascular diseases in the U.S. Moreover, according to Silverbook, every year, approximately 5 million people in North America are diagnosed with heart valve disorders. Furthermore, increasing adoption rate of cardiovascular prosthetic devices along with rising geriatric population and the unhealthy lifestyle of the young generation is expected to propel the growth of market. However, Asia Pacific is expected to emerge as the fastest growing market region owing to the increasing geriatric population. As per the Help age organization, 3.8% of the population in India is found to be above the age of 90.
The global cardiovascular prosthetic devices market is influenced by the presence of leading companies such as Abbott laboratories , Biosensors International , Colibri Heart Valve, Inspiremd, Medtronic PLC. Product launch, joint venture, merger and acquisition are some of the crucial strategies adopted by the key market players to gain competitive advantage.
Global cardiovascular prosthetic device market report covers segmentation analysis of type, applications and end users. Report further covers segments of types of cardiovascular prosthetic devices which include Cardiac Prosthetic Devices and Vascular Prosthetic Devices. Cardiac prosthetic devices such as stents and prosthetic heart valves are used to maintain the proper functionality of the heart. Stents are used to maintain the blood flow, and also helps in the reduction of blockage in the arteries, whereas prosthetic heart valves are being extensively adopted by patient suffering from heart valvular disease or dysfunctional heart valve. Cardiac prosthetic devices are the leading type segment owing to its increased adoption due to rising cardiac disorders. According to American Heart Association, the number of deaths due to cardiac disorder increased from 12.3 million in 1993 to 17.3 million in 2013 which further increased to 17.9 million in 2015. Cardiac prosthetic devices can be further categorised into prosthetic heart valves, annuloplasty rings, defibrillator leads, pacemaker leads, tissue patches, artificial hearts and ventricular assist devices. The end users of global cardiovascular prosthetic devices include Hospitals, Specialty Clinics and Ambulatory Surgical Centers (ASCS).