Cardiovascular Repair And Reconstruction Devices Market Growth & Trends
The global cardiovascular repair and reconstruction devices market is expected to reach USD 4,481.5 million by 2025, according to a new report by Grand View Research, Inc. Increase in the prevalence of Congenital Heart Defects (CHDs) and the availability of technologically advanced cardiovascular valves, grafts, and patches are among key factors expected to drive growth over the forecast period.
Various initiatives by government organizations for the management of cardiovascular diseases is also expected to drive growth. For instance, American Heart Association funds research projects pertaining to CVD. It has funded some breakthrough projects in cardiology, such as techniques & standards for Cardiopulmonary Resuscitation (CPR), the first artificial heart valve, cholesterol inhibitors, implantable pacemakers, drug-eluting stents, and microsurgery. The foundation has funded more than USD 4 billion in the research projects since 1949.
Increase in the demand for effective therapies that reduce the incidence of adverse cardiac remodeling and help in regeneration or replacement of the myocardial tissues that get damaged during ischemic events is also anticipated to boost the cardiovascular repair and reconstruction devices market over the forecast period. Incidence of various CVD, such as heart attacks, stroke, and cardiac arrest, is rising owing to several risk factors such as changes in lifestyle, smoking, alcohol consumption, physical inactivity, improper nutrition, and obesity. According to American Heart Association, cardiovascular diseases accounted for about one in three deaths in the U.S. The medical cost of CHD is anticipated to increase by nearly 100% between 2013 to 2030. These factors are expected to boost growth over the forecast period.
Technological advancements in the fields of material sciences, interventional cardiology, and cryopreservation are also expected to drive the cardiovascular reconstruction devices market. The use of expanded PTFE for cardiovascular patches, introduction of transcatheter heart valves, and the development of minimally invasive technologies, such as transcatheter aortic valve implantation or transcatheter aortic valve replacement, are among few factors expected to boost growth over the forecast period. In addition, developments in cryopreservation techniques by key players such as CryoLife are among major technological advancements in cardiovascular therapies that are predicted to positively influence the market.
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Cardiovascular Repair And Reconstruction Devices Market Report Highlights
- The cardiovascular grafts segment emerged as the largest segment in 2016 owing to increase in their adoption in pediatric cardiovascular surgeries for the treatment of CHDs
- The cardiovascular patches segment is anticipated to be the fastest growing with a growth rate of 6.4%
- Some of the major players operating in this market are Medtronic; Bard Peripheral Vascular; Terumo Cardiovascular Systems Corporation; W.L. Gore & Associates, Inc.; Getinge AB; CryoLife, Inc.; Edwards Lifesciences Corporation; Baxter; and Admedus.
