Cardiac Implants Market Growth in Future Scope 2023-2030

The global Cardiac Implants Market is estimated to be valued at US$ 35,795.6 Mn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cardiac implants are medical devices implanted in the heart or vessels around the heart to diagnose, monitor and treat various heart conditions. The devices help restore normal heartbeats or improve the heart's pumping function. These include pacemakers, cardiac resynchronization therapy devices and implantable cardioverter defibrillators.

Market key trends:

One of the key trends in the cardiac implants market is the growing adoption of cardiac implantable electronic devices (CIEDs). CIEDs including implantable cardioverter defibrillators (ICDs) and cardiac resynchronization therapy devices (CRT-Ds) are increasingly being used for treatment of various heart conditions such as arrhythmias and heart failure. These devices help improve the quality of life of patients suffering from cardiac conditions by continuously monitoring heart activity and providing electric pulses or shocks to regulate abnormal heart rhythms and restore normal heartbeats.

Segment Analysis

The global cardiac implants market is segmented by product into cardiac rhythm management (CRM) devices, coronary stent devices, heart valve devices, implantable cardioverter defibrillator (ICD), and catheter ablation devices. Among these, the heart valve devices segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. Heart valve devices find widespread application in treating valve abnormalities such as stenosis, regurgitation and others. Growing prevalence of valvular heart diseases across the globe along with rising adoption of transcatheter aortic valve replacement procedures are fueling the growth of this segment.

Key Takeaways

The global cardiac implants market is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing prevalence of cardiovascular diseases and rising geriatric population worldwide.

Regional analysis:

North America dominated the cardiac implants market in 2022 and is expected to remain the most prominent regional market over the forecast period owing to large patient pool, availability of advanced healthcare infrastructure and increasing research activities for development of novel cardiac implants in the region.

Key players:

Key players operating in the cardiac implants market are 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, MicroPort Scientific Corporation. The global market is consolidated in nature with few major players dominating the overall market.