This market research report includes a detailed segmentation of the cardiac medical devices in the US by product type (CRM devices, cardiac assist devices and heart valves). The research reports also providers a comprehensive analysis of key drivers, challenges and trends of cardiac devices market in the US. The leading vendors analyzed in this report are Medtronic, St. Jude Medical, Boston Scientific and LivaNova.
Technavio’s market research analysts estimate the cardiac medical devices in the US to grow at a CAGR of 2% between 2016 and 2020. Increasing incidence and prevalence of cardiac disorders such as bradycardia, ventricular fibrillation, and tachycardia can lead to sudden cardiac arrest. This has necessitated the implantation of cardiac rhythm management (CRM) devices. New-generation technologies such as energy-harvesting generators and leadless pacemakers, ICDs, and trancatheter heart valves are boosting the sales of cardiac devices in the US.
The new market research report from Technavio provides a breakdown and analysis of the cardiac medical devices segments by technology.
“The use of cardiac implantable electronic devices has increased the popularity and use of MRI procedures to detect internal injuries. The technology allows better diagnosis and understanding of the injury. Currently, many physicians are using 3D-MRI technique for better imaging. Moreover, several surgeons are also using robot-assisted devices for minimally invasive surgeries. These devices help surgeons to perform complicated surgeries by providing a better visualization platform, and allow easy maneuvering of instruments within close-fitting spaces with precision and control,” says Imran Mushtaq, Industry Manager, Healthcare & Lifesciences, Technavio Research
CRM devices lead the cardiac medical devices market, accounting for 72% of the total market share. The rising awareness about cardiovascular devices has fueled the demand for CRM devices in the US. ICD is the most used CRM device, and covers 49% of the market share. ICD devices are used to treat cardiac-related conditions such as cardiac arrhythmia, ventricular tachycardia, and ventricular fibrillations. ICDs have been useful in preventing sudden deaths in patients with sustained ventricular fibrillation or tachycardia. New-generation ICD devices are a combination of pacemaker and ICD and are equipped with demand pacing system that utilizes pre-programmed threshold to perform defibrillation or cardioversion.
Cardiac medical devices market segmentation by product type
Source: Technavio, 2016
The key vendors in the cardiac medical devices market in the US are Medtronic, St. Jude Medical, Boston Scientific and LivaNova. The market is growing owing to the adoption of these devices by the aging population. Intense competition prevails in this market owing to increased product portfolio extensions, advances in technology, and reduced average selling prices. Vendors are developing devices that are longest-lasting cardiac medical devices, to sustain and survive in this market.
A more detailed analysis is available in the Technavio report, Cardiac Medical Devices in the US 2016-2020.
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