Hamilton, NY, July 30, 2015 (GLOBE NEWSWIRE) -- The Report "Cardiac Implant Devices Market - By Devices (Pacemakers, ICDs, CRTs, Coronary Stents, Heart Valves, TAVI Valves); By Condition (Myocardial Ischemia, Arrhythmias, Acute Myocardial Infarction) - With Forecast (2015-2020)", published by IndustryArc, Cardiac Implants Devices Market size was $21.4 billion in 2014 and is growing at a CAGR of 12.5% from 2015 to 2020.
Browse 78 Market Tables & 53 Figures spread through 180 Pages and an in-depth TOC on "Cardiac Implant Devices Market"
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Cardiac Implants Devices aim to treat heart ailments and monitor heart activity of patients. They detect any fluctuations in the cardiac system and deliver the information to healthcare providers in order to take appropriate action. A number of cardiovascular conditions which could not be treated by medication alone need an implantable cardiac device. Implantable cardiac devices store patient related information such as their name and records of irregular heart incidences since the last medical check-up.
The Key Global Players in Cardiac Implantable Devices Market Are
- Medtronic, Inc.
- Boston Scientific Corporation
- St. Jude Medical, Inc.
- Abbott Vascular Inc.
- Edwards Life-sciences Corporation.
All the 5 companies hold a significant market share in the industry globally with a few smaller players showing presence regionally.
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According to a recent study from IndustryARC, the global Cardiac Implants Devices Market size was $21.4 billion in 2014 and is growing at a CAGR of 12.5% from 2015 to 2020. Advancement in technology, growing incidences of cardiovascular diseases such as coronary artery diseases (CAD), atrial fibrillation and aortic aneurysms and launch of new and innovative cardiac products such as leadless pacemakers, subcutaneous defibrillators (S-ICDs) are some of the key drivers for the growth of this market.
Americas and Europe occupied substantial market share of 60% and 22% respectively. It can be observed that Asia-Pacific is growing higher rate as compared to developed countries but generating lesser revenues due to detrimental factors like cost and reimbursement policies.
In recent years, the cardiac implantable devices design has witnessed a rapid change in technology in terms of improved size, battery life and device functionality. For instance, 3D printing technology is being utilized to perform virtual surgeries to optimize percutaneous intervention strategies. The technology has the potential to enhance success rate of interventional surgeries and helps in faster recovery of patients. With the increased complexity for treatment of cardiac diseases and greater mortality rates there is growing demand of new and sophisticated devices in the market. Therefore, companies are spending considerable part of revenue on R&D to bring advanced products into market to strengthen their market position over years and at the same time provide effective treatment to patients.
Bio absorbable stents have emerged as a new and effective treatment option in coronary intervention procedures. Abbott Vascular launched "Absorb", world's first drug eluting stent in Europe, parts of Asia Pacific and Latin America in 2012. Many Bioabsorbable stents are still in different developmental stages and medical professionals are not yet sure of its technical accuracy and patient benefits.
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Smaller and leadless pacemakers equipped with advanced filters to reduce the effect of harmful electromagnetic radiation are developed. St. Jude Medical, Inc. and Medtronic, Inc. are key companies who have developed leadless pacemakers. These devices are in high demand and actively adopted by people due to ease of implantation. New subcutaneous ICD (S-ICD), is a novel device which has been introduced to market in 2012 by Boston Scientific Corporation. It is currently the only implantable defibrillator that provides protection from sudden cardiac arrest (SCA) while leaving the heart and vasculature untouched.
Development of Transcatheter Aortic Valve Replacement (TAVI) valves based upon stents has appeared as a promising new option in recent years. The heart valves market is going to evolve primarily due to replacement of traditional heart valve surgery by TAVI which is less invasive than open heart surgery. According to Industry ARC analysis, the TAVR (Transcatheter Aortic Valve Replacement) Valves Market is expected to grow at a CAGR of 24% to reach $2 billion by 2020.
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