Cardiac
implants are designed to monitor irregular heartbeats for people
suffering from heart rhythm disorders. These abnormalities are caused
by problems with the heart’s electrical system, which signals the
heart to contract and pump blood throughout the body. Cardiac
implants comprise pacemakers, implantable cardioverter defibrillators
(ICDs), cardiac resynchronization therapy, implantable hemodynamic
monitoring, and implanted heart rhythm monitors, among others, are
also known as loop recorders. These implants are used in the
treatment of myocardial ischemia, arrhythmias, and acute myocardial
infraction. Due to growing aging population and demographic changes
across the world, prevalence of heart disease is expected to
increase, which in turn, is expected to increase the demand for
cardiac implants in the near future. According to the American
College of Cardiology, as of 2017, cardiovascular diseases accounts
for around 800,000 deaths in the U.S and it remains the leading cause
of death in the U.S.
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Rising
prevalence of cardiovascular diseases is expected to boost growth of
the cardiac implants market
Rising
incidence of cardiovascular diseases is expected to boost growth of
the cardiac implants market over the forecast period. According to
the World Health Organization, in 2015, around 17.7 million deaths
were recorded due to cardiovascular diseases, out of which around 7.4
million deaths were caused due to coronary heart disease and 6.7
million deaths due to stroke. The other factors that are contributing
to growth of the market include sedentary lifestyle leading to
adoption of unhealthy eating habits, rampant advancements in
technologies such as Cardialen, Parachute Implant, Watchman, HVAD
Pump (HeartWare Ventricular Assist System), and HeartMate 3 are
leading to new therapies for heart failure as well as growing
geriatric population. However, high cost of the devices making it
unaffordable for the middle and low income population is hindering
growth of the global cardiac implants market are.
Increasing
demand for pacemakers is expected to propel growth of the cardiac
implants market in North America
On
the basis of regions, the global cardiac implants market is segmented
into North America, Latin America, Europe, Asia Pacific, Middle East,
and Africa. North America is expected to hold a dominant position in
the market, owing to the rising demand for pacemakers. According to
the Centers for Disease Control and Prevention, 2017, every year
around 790,000 people have a heart attack, out of which 580,000 are
reported as new cases, and 210,000 are recurring cases. Every 40
seconds one heart attack case is reported in the U.S. Furthermore,
Asia Pacific is expected to be the key region in the global cardiac
implants market. This is mainly due to rampant advancements in
technology such as MRI compatible pacemakers, increasing demand for
minimally invasive surgeries, and rising prevalence of cardiovascular
diseases.
Increasing
development of innovative products is expected to propel growth of
the cardiac implants market
Major
players operating in the global cardiac implants market include
Medtronic, Inc. Boston Scientific Corporation, Abbott Vascular Inc.,
Edwards LifeScience Corporation, Thoractec Corporation, Syncardia
systems, and St Jude Medical, Inc.
Market
Taxonomy:
The
global cardiac implants market is segmented on the basis of devices,
application, end users, and geography.
On
the basis of devices, the global cardiac implants market is segmented
into:
-
Cardiac Resynchronization Therapy (CRT) Devices
-
Pacemaker Devices
-
Implantable Cardioverter Defibrillator (ICD) Devices
-
Implantable Hemodynamic Monitoring
-
Implanted Heart Rhythm Monitors
On
the basis of application, the global cardiac implants market is
segmented into:
-
Arrhythmias
-
Myocardial Ischemia
-
Acute Myocardial Infraction
-
Congestive Heart Failure
-
Others
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