Seattle, WA -- (SBWIRE) -- 11/07/2019 -- High prevalence of cardiovascular diseases is expected to boost growth of the global cardiac implant market over the forecast period. For instance, according to the American College of Cardiology, as of 2017, cardiovascular diseases accounted for around 800,000 deaths in the U.S, and they remain the leading cause of death in the country. Moreover, according to the World Health Organization, in 2015, around 17.7 million deaths were caused by cardiovascular diseases, out of which around 7.4 million deaths were caused due to coronary heart disease, and 6.7 million deaths due to stroke.
Cardiac implants aid in monitoring irregular heartbeats in heart rhythm disorder patients. Issues with the heart's electrical system leads to irregular heartbeats. Pacemakers, implanted heart rhythm monitors (loop recorders), implantable cardioverter defibrillators (ICDs), cardiac resynchronization therapy, and implantable hemodynamic monitoring are some of the cardiac implant devices that are used in the treatment of myocardial ischemia, arrhythmias, and acute myocardial infraction. Cardiac implants artificially control the patient's heartbeat for a longer duration.
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Key players in the market are focused on product approval and launch to expand their product portfolio, which is expected to boost growth of the market. For instance, in February 2017, Abbott received the U.S. Food and Drug Administration approval for its Assurity MRI pacemaker, which is the smallest, long-lasting wireless MRI-compatible pacemaker. Patients implanted with Assurity MRI pacemaker can undergo full body magnetic resonance imaging (MRI) scans, if required.
However, use of implantable pacemakers in cardiac patients may often lead to infections, which is expected to hinder growth of the market. For instance, according to Medtronic Plc., risks associated with an implantable cardioverter defibrillators (ICD) implant include, surgical site infections, sensitivity to the device material, failure to deliver therapy when it is needed, and receiving extra therapy when it is not needed. Moreover, after receiving an ICD therapy, patient will have limitations with respect to electromagnetic and magnetic radiation.
North America is expected to account for the largest market share over the forecast period. This is owing to high prevalence of cardiovascular disease in the region. For instance, according to the American Heart Association (AHA), 2017, around 92.1 million adults in the U.S. are suffering from some form of cardiovascular disease, or after-effects of stroke. The AHA report also stated that direct and indirect costs of cardiovascular diseases and stroke are estimated to account for US$ 316 billion, including health expenditures and lost productivity.
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High demand for technologically advanced products for cardiac rhythm management and increasing focus on stroke prevention associated with atrial fibrillation is expected to boost growth of the market in Asia Pacific. For instance, according to the Japanese Heart Rhythm Society, in 2017, the number of people suffering from atrial fibrillation (AF) is estimated to reach 72 million by 2050 in Asia Pacific, of which 2.9 million may suffer from AF-associated strokes.
Key players in the cardiac implant market in Europe are focused on product approval and launch, which is expected to boost growth of the market. For instance, in 2015, EBR Systems received the CE marking for its WiSE leadless pacemaker. The device is intended to improve the left ventricular function. Moreover, in February 2017, Medtronic Plc. received the CE marking for a suite of quadripolar cardiac resynchronization therapy pacemakers (CRT-Ps) that allow patients to receive MRI (magnetic resonance imaging) scans.
Key players operating in the global cardiac implant market include, MEDICO S.p.A., Lepu Medical Technology Co Ltd., Medtronic Plc. BIOTRONIK, Inc., Boston Scientific Corporation, Abbott Laboratories, Vitatron Holding B.V., Shree Pacetronix Ltd., LivaNova PLC, and Qinming Medical, and Cordis Inc.
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