According to FutureWise analysis the market for cardiovascular prosthetic devices in 2023 is US$ 31.89 billion, and is expected to reach US$ 62.71 billion by 2031 at a CAGR of 8.8%.
A cardiovascular prosthetic device replaces damaged heart tissue. The devices are designed in a way that mimics the functioning of normal cardiovascular organs. The use of cardiac prosthetic devices has allowed heart surgeons to improve the treatment of heart blockages. The most commonly used cardiac prosthetic devices are heart valves and pacemakers. An increase in cardiac disorder cases will drive the market for cardiac prosthetic devices. There is an ever-growing market for cardiac prosthetic devices due to the increasing prevalence of cardiac disorders. The American population suffers from heart valve disorders annually to the tune of around 5 million people. Moreover, the rising adoption rate for these devices along with the growing geriatric population as well as the unhealthy lifestyle of the current generation will drive the market. The high cost of these devices hinders the growth of the market. The report segments the cardiovascular prosthetic devices market by type and geography. According to type, the market is segmented into cardiac prosthetic devices and vascular prosthetic devices. Furthermore, cardiac prosthetic devices can be classified as prosthetic heart valves, annuloplasty rings, pacemaker leads, defibrillator leads, tissue patches, ventricular assist devices, and artificial hearts.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Cardiovascular Prosthetic Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Cardiovascular Prosthetic Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.