The cardiac implant devices market is expected to grow at a CAGR of 4.30% during the forecast period of 2018-2024. Rising prevalence of cardiac diseases is the major driver of the cardiac implant devices market. Growing aging population is further augmenting the cases of several heart diseases, thus positively impacting the growth of cardiac implant devices market. However, the high cost of these devices is currently restraining the growth of cardiac implant devices. Technological advancements to develop advanced cardiac implant devices will continue to propel the growth of cardiac implant devices market during the forecast period. Geographically, North America holds the major market share on account of the growing geriatric population and high disposable income. APAC will witness the fastest regional market growth on account of the rising incidence of cardiovascular diseases in countries like China and India.
By product type, the cardiac implant devices market is segmented as Implantable Closure Devices, Pacemaker Implants, Implantable Cardioverter Defibrillator (ICD), Left Atrial Appendage (LAA) Closure Device, Coronary Stents, and Prosthetic Heart Valves, Insertable Cardiac Monitor (ICM), Implantable Heart Pump, and Total Artificial Heart. The coronary stents segment is expected to hold a significant CAGR during the forecast period on account of the growing prevalence of coronary heart diseases worldwide. Furthermore, implantable heart pump is expected to hold a significant market share because of growing health concerns and an increasing number of hearing failures.
By geography, the cardiac implant devices market is segmented as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. Geographically, the global cardiac implant devices market has been segmented into North America, South America, Europe, Middle East and Africa, and the Asia Pacific. These regions have been further segmented into countries which hold a significant share in the market. North America and Europe together hold a significantly large share in this market. The growth of the in these regions is majorly attributed to state-of-the-art healthcare infrastructure which is expected to continue improving as industry players continue to funnel in huge investments in this sector in these regions. The market in the Asia Pacific is being driven by supportive initiatives by some governments in order to make expensive healthcare services accessible for people of all income groups. The Middle East and Africa, and South America are also expected to show good growth over the projected period.
The major players profiled in the Cardiac Implant Devices market include Medtronic, Abbott, Boston Scientific Corporation or its affiliates, Edwards Lifesciences Corporation, Terumo Europe NV and its Affiliates, Abiomed, Inc., Cardinal Health, Inc., Biotronik, Inc., SynCardia Systems, LLC, and STENTYS SA.
These market players are adopting various growth strategies to expand their reach while maintaining their existing position. For example, Boston Scientific has recently announced that it has entered into a definitive agreement to acquire Vertiflex, Inc., a privately held company, which has developed and commercialized a device for treatments of patients with lumbar spinal stenosis. In April 2019, Edwards Lifesciences Corporation announced the completion of its acquisition of CAS Medical Systems, Inc., a technology company dedicated to non-invasive brain and tissue oxygenation monitoring. Under the agreement, Edwards paid $2.5 in cash for each share which equates to an equity value of US$ 100 million.
The cardiac implant devices market has been analyzed through the following segments:
By Product Type
Implantable Closure Devices
Implantable Cardioverter Defibrillator (ICD)
Left Atrial Appendage (LAA) Closure Device
Prosthetic Heart Valves
Insertable Cardiac Monitor (ICM)
Implantable Heart Pump
Total Artificial Heart
Middle East and Africa