Cardiac Implants Market Size & Share, by Product (Coronary Stents, Implantable Cardioverter-Defibrillators, Heart Rhythm Monitors, Hemodynamic Monitors, Pacemakers); Material (Alloys, Biological, Metals, Polymers); Procedure (Angioplasty, Open-Heart Surgery); Application (Acute Myocardial Infarction, Myocardial Ischemia, Arrhythmias, Congestive Heart Failures) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4111
  • Published Date: Feb 27, 2023
  • Report Format: PDF, PPT

Global Cardiac Implants Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Cardiac Implants Market size is poised to cross USD 50 Billion by the end of 2035, growing at a CAGR of 8% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of cardiac implants was over USD 25 Billion. The major factor for the growth of the global cardiac implants market in the upcoming years is the rising prevalence of cardiovascular diseases and heart diseases among the global population owing to the rapid shift towards unhealthy lifestyles and consumption of junk. As per the World Health Organization (WHO), cardiovascular diseases are considered to be one of the major causes of death worldwide. Further, a recent report stated that approximately 17.9 million people across the world lost their lives in 2019 which is equivalent to 32% of the entire global deaths owing to growing cardiovascular diseases.

Apart from the aforementioned factors, one of the other major factors that are attributed to market growth is the rapid escalation of heart failure cases which is expected to positively influence the demand for cardiac implants around the world. Also, the surge in the number of heart attacks, heart strokes, and other chronic heart ailments is anticipated to bring lucrative growth opportunities for market growth during the forecast period. Moreover, the change in lifestyles such as unhealthy dietary patterns, high-stress levels, excessive alcohol consumption, increase in cigarette usage, and reduced physical activity has also propelled several heart disorders and is also estimated to boost the expansion of market growth in the next few years. The occurrence of lifestyle disorders such as diabetes and obesity is also forecasted to generate a demand for cardiac implants which in turn is expected to aid market growth. In addition to that, the growing geriatric population which is more prone to medical conditions along with significant improvements in the healthcare infrastructure is also contributing to the market growth. Additionally, the preference for minimally invasive surgeries and integration of artificial intelligence (AI) for advanced algorithms for early detection of heart disease, enhanced treatment of strokes, and faster diagnostic radiology capabilities are also estimated to create a positive outlook for the market. In addition to the other factors, the surge in the awareness levels about the numerous benefits of cardiac implants coupled with the recent advancements in the medical sector and increasing research and development (R&D) activities are offering favorable growth opportunities to market key players.


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Cardiac Implants Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

8%

Base Year Market Size (2022)

 USD 25 Billion

Forecast Year Market Size (2035)

 USD 50 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Cardiac Implants Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Recent Surge in Heart Diseases – People nowadays are being diagnosed with various lifestyle disorders such as anxiety, hypertension, panic, stress, and others. As a result of the growth of such diseases, the occurrence of heart disease is estimated to also increase. As a result, the demand for cardiac implants is also attributed to growing considerably in recent years. The Centers for Disease Control and Prevention (CDC) stated that in the United States every second, one person dies owing to heart disease, Also, it was estimated that about 697,000 people Americans died from heart disease which is equivalent to 1 in every 5 deaths in 2020.
  • Growing Prevalence of Heart Attacks Among the Global Population – As the global population is engaged in a fast-paced world, there has been significant growth in incidences of stress and panic. As a result, the number of heart attacks has grown considerably which in turn has brought in the demand for cardiac implants for proper treatment of patients with timely diagnosis and enhanced patient experience. As per the data released by the Centers for Disease Control and Prevention (CDC), it has been calculated that approximately 805,000 people in the United States have a heart attack every year. Out of these, around 605,000 cases are considered to be the first heart attack and roughly 200,000 people already had a heart attack before in United States.
  • The Surge in Heart-Related Disorders – The growing consumption of alcohol, cigarettes, junk, processed food, and unhealthy diets has led to an increase in heart-related diseases in the world population. Thus, with an escalation in heart-related disorders, the utilization rate of cardiac implants is also estimated to grow as a result of the need for immediate diagnosis and treatment. According to recent estimates of 2019, coronary heart disease is known as the most common type of heart disease, with around 110 million men and 80 million women being diagnosed around the world and killing almost 9 million people each year.
  • Escalation in Lifestyle Disorders – Recent estimates of 2019 calculated that hypertension is responsible for almost 10 million deaths across the globe each year. Whereas, the World Health Organization (WHO) stated that the prevalence of obesity tripled between 1975 and 2016 reaching 1.9 billion overweight and 650 million obese people worldwide in 2016.
  • High Focus on Health and Fitness – As per the statistics revealed by the World Bank, the global healthcare expenditure was calculated to be 9.83% of total GDP, an increase from 9.7% from the previous year.

Challenges

  • High Cost Associated with Cardiac Implants – Cardiac implants are highly technologically developed medical equipment that requires specialized hands for proper functioning. As a result, the cost of cardiac implants and the procedures associated with them is high. Therefore, the population with middle income is expected to not opt for cardiac implants easily, thus, lowering the adoption rate and hampering market growth in the forecast period.
  • Rising Complications Regarding Complex Designs of Cardiac Implants
  • The Risks of Implantable Pacemakers


Cardiac Implants Segmentation

The global cardiac implants market is segmented and analyzed for demand and supply by end-users into cardiology centers, clinics, hospitals, and others. Out of these, the hospitals segment is attributed to garner the most significant share in the market by the end of 2035. The major factor attributed to the expansion of the segment is the presence of specially trained medical professionals for the usage of cardiac implants and a high number of cardiologists in hospitals across the globe. Also, the high number of hospitals in the world is considered to be another factor for the increased utilization rate of cardiac implants in hospital settings. For instance, the Organization for Economic Co-Operation and Development (OECD) stated that the number of hospitals in the United Kingdom increased from 1,882 in 2015 to 1921 in 2020, whereas, in the United States it rose from 5,564 in 2015 to 6,090 in 2019. In addition, the trust factor associated with the hospitals for proper diagnosis and treatment coupled with favorable policies present in the hospitals is also another factor that is considered to bring growth opportunities for noteworthy revenue generation of the segment. Patients suffering from chronic diseases, cardiovascular disorders, and other lifestyle illnesses often visit hospitals for treatment procedures which in turn is expected to boost segment growth in the next few years.

The global cardiac implants market is also segmented and analyzed for demand and supply by application into acute myocardial infarction, myocardial ischemia, arrhythmias, congestive heart failures, and others. Out of these, the arrhythmias segment is projected to hold the largest share with a notable CAGR during the forecast period. The major factor for segment growth is the rising cases of arrhythmias and related diseases across the globe. For instance, in 2022, it was revealed that the prevalence of arrhythmias is found to be 2% to 5% in the world population. An unhealthy lifestyle and consumption of a poor diet is the reason behind the growth in the occurrence of arrhythmias.

Our in-depth analysis of the global cardiac implants market includes the following segments:

            By Product

          By Material

  • Alloys
  • Biological
  • Metals
  • Polymers

          By Procedure

  • Angioplasty
  • Open-Heart Surgery

             By Application

  • Acute Myocardial Infarction
  • Myocardial Ischemia
  • Arrhythmias
  • Congestive Heart Failures
  • Others

            By End-User

  • Cardiology Centers
  • Clinics
  • Hospitals
  • Others

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Cardiac Implants Industry - Regional Synopsis

North America Market Forecast

The North American cardiac implants market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the increasing frequency of arrhythmias, and other heart diseases in the region. For instance, around 12 million Americans are estimated to be diagnosed with atrial fibrillation by 2030. Further, the presence of a strong healthcare network in the region, along with the availability of a large pool of patients is also anticipated to contribute to the market growth in the region. In addition, the region's expanding healthcare industry and rising commercialization of medical equipment are also anticipated to boost market growth during the forecast period.

Asia Pacific Market Forecast

On the other hand, the Asia Pacific cardiac implants market is also attributed to holding a significant market share during the analysis period on the account of growing geriatric population in the region who are at higher risk of cardiovascular diseases. Also, the high prevalence rate of cardiovascular diseases, and other heart-related disorders among the population is expected to boost the expansion of market size in the region. Recent reports suggest that cardiovascular diseases were the leading cause of death in the Asia Pacific region taking up around 11 million lives in 2019, which is approximately 35% of the total death in the region.

Research Nester
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Companies Dominating the Cardiac Implants Landscape

top-features-companies
    • Boston Scientific Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • BIOTRONIK SE & Co., KG
    • ZOLL Medical Corporation
    • Medtronic plc
    • LivaNova PLC
    • Abbott Laboratories
    • MEDICO S.R.L.
    • Lepu Medica

In-the-news

In The News

  • Boston Scientific Corporation acquired clearance from the U.S. Food and Drug Administration (FDA) for its EMBOLD Fibered Detachable Coil that decreases the rate of peripheral vasculature blood flow.

  • BIOTRONIK, Inc. received approval of Renamic New, a software programmer for cardiac rhythm management devices, from the U.S. Food and Drug Administration (FDA).


Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4111
  • Published Date: Feb 27, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Higher prevalence of cardiovascular disorders and heart diseases, growing consumption of cigarettes, and increasing geriatric population are the major factors driving the growth of the cardiac implants market.

The market is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2023-2035.

The possibility of infection owing to implantable pacemakers coupled with low awareness level about the advantages of cardiac implants and high cost associated with the usage of cardiac implants are estimated to be the growth hindering factors for the market expansion.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Boston Scientific Corporation, BIOTRONIK SE & Co., KG, ZOLL Medical Corporation, Medtronic plc, LivaNova PLC, Abbott Laboratories, MEDICO S.R.L., Lepu Medical Technology Co., Ltd., Cook Group, Shree Pacetronix Ltd., and other key players.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product, material, procedure, application, end-user, and by region.

The angioplasty segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Cardiac Implants Market Report Scope
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