by 
The Cardiac Implants Market is estimated to be valued at US$ 35,795.6 Mn or Mn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cardiac implants include pacemakers, cardiac resynchronization therapy devices, implantable cardioverter defibrillators and heart valves. These devices help improve the heart functioning of patients suffering from arrhythmias, heart failure and other cardiovascular diseases. Advancements in device technology have made implants smaller, longer lasting and more effective in monitoring heart conditions remotely. Implantable devices can now communicate wirelessly with external devices to transmit patient health data for remote monitoring. This enables early detection of device or health issues without requiring physical visits to the hospital.
Read More Insights @ https://www.coherentmarketinsights.com/market-insight/cardiac-implants-market-1176
Market Dynamics:
The growing incidence of cardiovascular diseases worldwide is a key factor driving the cardiac implants market. According to the World Health Organization, cardiovascular diseases accounted for over 17.9 million deaths in 2019, making it the leading cause of death globally. The increasing global geriatric population is also favoring market growth, as age is a major risk factor for heart disease. Additionally, technological advancements enabling remote monitoring and connectivity of implants are creating new opportunities in home healthcare.This allows for continuous monitoring of high-risk patients from the comfort of their own homes. Furthermore, the development of innovative valve repair therapies has increased the availability of alternative options to open-heart surgeries. Such trends are stimulating research and development activities in this market.
Segment Analysis
The cardiac implants market is dominated by the cardiac rhythm management (CRM) sub-segment. CRM devices such as pacemakers and implantable cardioverter defibrillators (ICDs) account for the largest revenue share due to the increasing prevalence of cardiac arrhythmias. These devices help regulate abnormal heart rhythms and provide lifesaving treatment.
PEST Analysis
Political: Governments across countries are raising awareness about cardiac diseases through various programs. Favorable reimbursement policies for cardiac implants are in place.
Economic: The rising healthcare expenditure fueled by growing per capita income supports market growth. However, pricing pressures may hamper revenue streams.
Social: An aging global population makes them more prone to cardiac conditions. Sedentary lifestyle along with unhealthy food habits has boosted the risk of heart disease.
Technological: Advancements in implantable devices include miniaturization, longer battery life, improved biocompatibility, and remote monitoring capabilities via Bluetooth and Wi-Fi. Newer valve repair and vascular graft products are gaining traction.
Key Takeaways
The global Cardiac Implants Market is expected to witness high growth, exhibiting a CAGR of 8.1% over the forecast period, due to increasing prevalence of cardiac diseases. The market size for 2023 is estimated to be US$ 35,795.6 Mn.
Regionally, North America dominates the market backed by well-developed healthcare infrastructure and rising obesity rates. However, Asia Pacific is emerging as the fastest growing market due to a huge patient population, increasing healthcare spending and growing medical tourism.
Key players operating in the Cardiac Implants market include Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, Edwards Lifesciences Corporation, Meril Life Sciences Pvt. Ltd., Lepu Medical Technology (Beijing) Co., Ltd., BIOTRONIK SE & Co. KG, OSYPKA MEDICAL, Pacetronix.com, Vitatron, Terumo Corporation, Cordis, and MicroPort Scientific Corporation. Major players are focusing on new product launches, partnerships and regulatory approvals to strengthen their market position.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
