London, 3 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the global cardiac prosthetic devices market 2015-2019, which is expected to grow at a CAGR of 8.41% during the forecast period of 2014-2019.
The market for global cardiac prosthetic devices is expected to grow rapidly during the forecast period; some of the key factors that boost market growth are clinical evidence of the efficiency of prosthetic devices compared to standard treatment, increased awareness of the treatment, and advances in technology for minimally invasive procedures. Besides these factors, market growth can also be attributed to the global rise in geriatric population.
“Medtronic CoreValve System received FDA approval for transcatheter valve-in-valve procedures. The CoreValve System is the first transcatheter heart valve approved in the US for valve-in-valve procedures for both high and extreme risk patients,” says Faisal Ghaus, Vice President of Technavio.
“The cardiac prosthetic devices industry is focusing on developing innovative cardiac prosthetic devices through the application of advanced technology.”
Key Market Drivers:
- Rise in Prevalence of Congenital Heart Disease Worldwide.
- Rise in Adoption of Endovascular Surgery.
- High Demand from APAC.
- Rise in Aging Population.
Key Market Trends:
- Increase in Use of Low-profile Stent Grafts for Aneurysm Repair.
- High Expenditure on R&D.
- Moving toward Bio-resorbable Stents.
Key Market Vendors:
- Boston Scientific Corp.
- Edwards Lifesciences Corp.
- Medtronic plc
- Sorin Group
- St. Jude Medical Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
