A comprehensive study of Cardiac Implant Devices Market

Introduction:

By the end of 2024, the global market size for cardiac implant devices market is projected to grow with a CAGR of 4.30 percent to reach USD40.300 billion from USD31.300 billion in 2018. Cardiovascular implants are sophisticated devices used to treat heart diseases. Cardiac diseases are a major cause of death globally. But due to technological advancement in medical science, there is an increasing number of patients living with cardiovascular diseases. The market for cardiac implant devices is expected to have a significant growth rate driven by the rising prevalence of heart diseases and growing healthcare expenditure. The growth in the geriatric population is expected to further fuel the market growth as cardiac diseases are mostly age-associated. Technological advancement in the field of medical devices is also expected to drive the cardiac implant devices market growth.

Rising prevalence of heart diseases:

According to data by the World Health Organisation, 17.9 million people die each year from cardiovascular diseases (CVD), an estimated 31% of all deaths worldwide. Four out of five CVD deaths are due to heart attacks and strokes. A substantial number of these deaths can be attributed to tobacco smoking, which increases the risk of dying from coronary heart disease and cerebrovascular disease 2–3 fold. Physical inactivity and unhealthy diet are other main risk factors which increase individual risks to cardiovascular diseases. Implantable medical devices are increasingly being used for the treatment of these diseases. Cardiovascular IMDs are regarded as the most sophisticated IMDs to date. As these devices are implanted inside the body, the patients do not need to be hospitalized for long periods of time and can even be remotely monitored. The implementation of more IMDs with communication capabilities relieve the strain on health systems. So, the demand for cardiac implant devices is increasing globally with the rise in patients suffering from heart diseases. This is expected to have a positive impact on cardiac implant devices market size.

Cardiac implant devices market by product type:

By product type, the cardiac implant devices market is segmented as Implantable Closure Devices, Pacemaker Implants, Implantable Cardioverter Defibrillator (ICD), Left Atrial Appendage (LAA) Closure Device, Coronary Stents, and Prosthetic Heart Valves, Insertable Cardiac Monitor (ICM), Implantable Heart Pump, and Total Artificial Heart. The coronary stents segment is expected to hold a significant CAGR during the forecast period on account of the growing prevalence of coronary heart diseases worldwide. Implantable heart pump is expected to hold a significant cardiac implant devices market share.

Implantable Heart Pump:

A heart pump or ventricular assist device (VAD) is a mechanical pump that's used to support heart function and blood flow in people who are suffering from heart diseases. The device takes blood from a lower chamber of the heart and helps pump it to the body and vital organs, which is same as the working of a healthy heart. These devices can be connected externally or implanted inside the body. Implantable heart pump is used in patients who have heart failure. The cardiac implant devices market trend for this segment is expected to be positive in the forecast period due to increasing cases of heart failures and the growing geriatric population.

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