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Cardiovascular diseases (CVD) remain the world’s leading cause of death, killing an estimated 17.9 million people each year, according to data from the World Health Organization (2021). It is the main cause of disease burden in the world. CVD continues its years-long increase in almost all countries outside the high-income world and at a frightening age-standardized rate. Even in the locations where it was previously observed that cardiovascular diseases were declining to seem to rise. A large gap remains between identifying cardiovascular diseases as an issue and coming to the best package of solutions and then delivering them to the entire population.
About 6.6 million people in the United States die due to heart disease each year, which is almost 1 in every 4 deaths. Alarmingly, these deaths occur mostly between the ages of 30 and 70 years. Also, almost 8 million people in the United States every year experience a heart attack, and about 1 in 5 heart attacks are observed in silence, which means the damage is done, but the person is not aware of it. There is a pressing requirement to focalize the existing cost-effective cardiac interventions and therapies as well as cardiac devices to meet the current unmet needs of the cardiovascular disease treatment scenario.
Treatment Options in the Cardiac Diseases Market
There are several cardiovascular disease treatment options available depending on what’s best for an individual specific for the type of CVD they are experiencing. Cardiovascular disease treatment aims to relieve symptoms, reduce the risk of the condition or disease recurring or getting worse and also prevent several heart-related complications, such as hospital admission, heart failure, stroke, heart attack, or death. Some cardiovascular disease treatment options include medical interventions to reduce low-density lipoprotein cholesterol, improve blood flow, or regulate heart rhythm. Additionally, cardiac rehabilitation, including exercise prescriptions and lifestyle counseling are considerable treatment options. Surgery like coronary artery bypass grafting or valve repair or replacement surgery is the last treatment option.
Recently, new developments are observed in the field of cardiovascular disease treatment with cardiac devices. These devices have been found to be very effective in keeping the heart beating with a normal rhythm. There are many different types of cardiac devices available. Cardiac devices are implantable electronic devices including pacemakers, prosthetic (artificial) heart valves, cardiac loop recorders, automated external defibrillators, stents, and several others which are specifically designed to assist in controlling and monitoring irregular heartbeats in people with certain heart rhythm disorders and heart failure.
Some of the leading FDA approved Cardiac Devices available in the market include:
Automated External Defibrillators
Automated external defibrillators (AEDs) are life-saving devices that control the heartbeat. AEDs are portable medical devices used to treat sudden cardiac arrest, a condition in which the heart suddenly stops beating. When delivered within the first few minutes of a cardiac arrest, cardiopulmonary resuscitation and early defibrillation effectively save lives. Typically, this occurs when severance is induced by electrical activity in the heart, resulting in a dangerously fast or erratic heartbeat. Either of these abnormal heart rhythms impairs the heart’s capacity to pump blood adequately and can lead to cardiac arrest.
The automated external defibrillators market is witnessing growth due to various factors, one of which is the rising frequency of cardiovascular disorders. Furthermore, the increasing incidence of lifestyle conditions such as hypertension, which pose a major risk factor in the etiology of cardiac arrest, is boosting demand for automated external defibrillators. Moreover, product improvements such as the development of wearable automated external defibrillators are projected to contribute to the growth of the global automated external defibrillators market. As per DelveInsight analysis, the automated external defibrillators market is expected to surge at a CAGR of 8.62% by 2027.
The leading MedTech giants operating the automated external defibrillators market include Koninklijke Philips N.V., Stryker, NIHON KOHDEN CORPORATION, SCHILLER, ZOLL Medical Corporation, Kestra Medical Technologies, Inc., BPL Medical Technologies, MEDIANA Co., Ltd, Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Meditech Equipment Co., HEARTHERO, Metrax GmbH, Progetti Srl, Bexen Cardio, Trivitron Healthcare, Amiitalia, US DEFIB MEDICAL TECHNOLOGIES, LLC, Instramed Indústria Médico Hospitalar Ltda., Axion Ltd, CardiAid and others.
Stents are small wire mesh tubes that are used to treat blocked arteries in the body. Stents are utilized to unblock narrow arteries that get blocked as a result of fat buildup during coronary heart disease. This also aids in the lowering of symptoms linked with angina (chest discomfort) and the risk of a heart attack. Metals, polymers, and plastics are among the materials used to make stents. The stents are put into the obstructed artery, and then the balloon is inflated, locking the stents in place as they expand. This widens the artery and allows blood to flow more freely. Patients who have angioplasty with stents recover faster than patients who have coronary artery bypass surgery. The growing prevalence of cardiovascular diseases globally, as well as the widespread use of stents in the treatment of coronary heart disease, are expected to drive the stents market. Moreover, the rising frequency of chronic diseases is one of the primary drivers of the stents market. Furthermore, the rise in the geriatric population is also a crucial factor driving the growth of the stents market. As per our estimates, the global stents market is estimated to grow at a CAGR of 5.61% during the forecast period from 2022 to 2027.
However, demanding regulatory clearances for stents, as well as problems associated with stent implantation, may slow the growth of the stents market. Moreover, several key players such as Boston Scientific Corporation, BD, Medtronic, Abbott, Cook, Merit Medical Systems, Novatech SA, Terumo Europe NV, MicroPort Scientific Corporation, Fuji Systems Corp, MICRO-TECH EUROPE, Vascular Concepts, Olympus America, W. L. Gore & Associates, Inc, B. Braun Melsungen AG, BIOTRONIK SE & Co. KG, Teleflex Incorporated, Elixir Medical Corporation, REVA Medical, LLC, and others are involved in developing novel stents to improve the cardiac diseases treatment landscape.
Cardiac Ablation Devices
Ablation devices are medical devices that are used in minimally invasive treatments to remove or excise abnormal bodily tissues for therapeutic purposes. To induce minor burns, these technologies use the heat generated by radio frequency, energy, extreme cold, or a laser. Cardiac ablation is a surgical procedure that scars little portions of the heart to correct cardiac arrhythmias. Cardiac arrhythmias occur when the electrical impulses that govern heartbeats are deficient. As a result, irregular heartbeats occur, which can progress to stroke or heart failure if left untreated, and are one of the leading causes of death.
The global demand for cardiac ablation devices is expected to increase significantly due to an increase in the geriatric population and an increase in the cardiovascular disease population base. Furthermore, the companies in the cardiac ablation devices market such as Abbott Laboratories, Boston Scientific Corporation, Avanos Medical, Inc., Auris Health, Inc., Olympus, CONMED Corporation, ERBE ELEKTROMEDIZIN GMBH, AngioDynamics, Medtronic Inc., AtriCure, Inc., Biosense Webster, Inc., Teleflex Incorporated, St. Jude Medical Inc., Lepu Medical Technology(Beijing)Co., Ltd., MicroPort Scientific Corporation, and others are increasing their manufacturing of essential medical devices. As a result, such initiatives are projected to aid the market and patients in their treatment, propelling the global cardiac ablation devices market growth. As per DelveInsight estimates, the cardiac ablation devices market size was USD 2.25 billion in 2021 and it is expected to grow at a significant CAGR to reach 4.63 billion by 2027.
However, product recalls and adverse regulatory scenarios may prove to be significant limitations on the growth of the global cardiac ablation devices market. As a result of the increased frequency of cardiovascular disorders, particularly heart failure, cardiac ablation devices have emerged as promising therapeutic options for patients and are expected to drive cardiac ablation devices’ market expansion.
Ventricular Assist Devices
A ventricular assist device also known as a mechanical circulatory support device is an electromechanical device that supports heart circulation to minimize or eliminate cardiac failure. It aids in the circulation of blood from the heart’s lower chambers (ventricles) to the rest of the body.
The ventricular assist devices market is experiencing positive market growth as a result of the rising prevalence of heart failure and other cardiovascular diseases. Additionally, the growing geriatric population susceptible to chronic medical ailments such as diabetes, neurological disorders, and cardiovascular diseases will drive the ventricular assist devices market. Furthermore, the increased need for organ transplants due to chronic diseases, as well as technical improvements such as infection control properties and the inclusion of artificial technology around the world, are expected to boost the ventricular assist devices market. As per our analysis, the ventricular assist devices market size was USD 1.9 billion in 2021 and it is expected to surge at a considerable CAGR to reach USD 3.1 billion by 2027.
However, the high cost of the device and associated adverse effects such as bleeding issues and ischemia, and hemorrhagic stroke may offer a challenge to the growth of the ventricular assist devices market.
The leading MedTech goliaths such as Abiomed, Inc., Asahi Kasei Corporation (Evaheart Medical U.S.A., Inc.), Abbott Laboratories (St. Jude Medical, Inc.), Berlin Heart GmbH, Jarvik Heart, Inc., Medtronic Plc., Terumo Corporation, Evaheart, Inc., Calon Cardio, SynCardia Systems LLC, Cardiobridge Gmbhand, LivaNova, Inc., Cirtec, CorWave SA, FineHeart, ReliantHeart Inc., among others are trying to overcome these challenges by manufacturing novel devices in the ventricular assist devices market to improve the treatment landscape.
Cardiac Loop Recorders
Implantable loop recorders are small devices with integrated leads that monitor heart activity like the ECGs. These devices are more like a Holter monitor but are wireless. The device can record the heart rhythm continuously for up to 15-18 months. A Cardiac Loop Recorder can start recording heart rhythm automatically and can also be started manually by the user if they feel symptoms. Cardiac Loop Recorders are used for long-term ECG monitoring and the diagnosis of Cardiac Arrhythmia, Atrial Fibrillation, among other heart diseases.
The devices are like a thumb drive and are inserted just beneath the skin on the left side of the chest. It collects and records electrical signals of the heart and allows remote monitoring. The recorded data can be shared with physicians or cardiologists easily through wireless technology. These devices do not interfere with the day-to-day activity of the user and are also helpful in monitoring heart rhythms and critical symptoms related to heart disease for better health scenarios.
The device delivers more definitive results, in case other tests fail to provide an accurate picture of the disease. The rising prevalence of diseases like atrial fibrillation is likely to contribute to the implantable loop recorders’ demand in the coming years. Additionally, the increasing need for remote patient monitoring and technological advancements is also likely to stimulate the Implantable loop recorders Market. Currently, to fulfill the demand, some of the key MedTech companies such as BIOTRONIK, Medtronic, Abbott, and others, are actively working in the Cardiac Loop Recorders market.
In the case of arrhythmia, an irregular heartbeat occurs due to which it can beat too fast or too slow and result in an abnormal rhythm of the heart. Pacemakers are efficient in controlling the rate and the rhythm of the heart. Pacemakers are placed in the body area near the chest or the abdomen. It generates low-energy electrical pulses and helps the chambers of the heart to beat in sync and assist to pump blood efficiently in the body. The demand for Pacemakers has increased over the years, owing to superior treatment outcomes of sudden cardiac arrests (by minimizing the chances of heart failure) and the rising awareness among the people.
In recent years, significant progress has been observed in the Pacemakers segment as several companies are working rigorously to deliver new and innovative devices. As per the DelveInsight, the Global Pacemakers Market was valued at USD 4.88 billion in 2021 and it is expected to grow at a CAGR of 5.85% during the forecast period from 2022 to 2027. Some of the key MedTech companies in the Pacemakers Market include Medtronic, St. Jude Medical, Boston Scientific Corporation, Biotronik, LivaNova, Shree Pacetronix, OSCOR Inc., MEDICO, Lepu Medical Technology, MicroPort Scientific Corporation, and others. The increase in the prevalence of heart disease, a growing aging population, and technological developments in pacemakers are the key factor driving the Pacemakers Market.
Implantable Cardioverter Defibrillator (ICD)
An Implantable Cardioverter Defibrillator is a small device that monitors and detects rapid heartbeats. ICDs are battery-powered devices that can deliver an electric shock to correct life-threatening arrhythmia. ICDs are the size of a deck of cards and are implanted in a pouch under the skin of the chest or abdomen. When the heart stops beating effectively in the case of cardiac arrest, it instantly tries to treat the heart. If the person has undergone a cardiac arrest, he is also recommended for an ICD. An ICD and pacemaker are different. ICDs monitor the heart rate and interfere only when necessary while a pacemaker always maintains a normal heart rate. Some of the ICDs can execute a few basic functions that pacemakers do.
More specifically these devices are designed to address ventricular tachyarrhythmias. A person with the signs and symptoms of irregular heart rhythm is generally recommended for an ICD to overcome the adverse effects and better health scenario. Additionally, ICDs have very high importance in cases of cardiac arrest, heart attack, Long QT syndrome, congenital heart disease, and dysrhythmias. In normal cases, the traditional ICD is implanted while in the case of structural defects in the heart, the patient may be advised to subcutaneous Implantable Cardioverter Defibrillator (S-ICD) by the cardiologist.
Currently, there are approx. 20+ key companies which are developing Implantable Cardioverter Defibrillators (ICD). Some of the major MedTech giants such as Medtronic, Abbott Laboratories, Boston Scientific, MicroPort Scientific, Biotronik, Cintas Corp., and others are working in the Implantable Cardioverter Defibrillator Market.
Prosthetic (Artificial) Heart Valves
A prosthetic (artificial) heart valve is a device that is surgically implanted into the heart to replace a heart valve that has been damaged. The human heart has four valves, in case any of the heart valves malfunction, the affected valve is replaced with a prosthetic heart valve to function like a native one in terms of hemodynamics and with minimal side effects (low thrombogenicity).
Over the past few years, the demand for Valve replacements has grown significantly globally, as these devices have the potential to immensely improve patient health outcomes. The three main types of Prosthetic heart valves namely mechanical heart valves, Tissue/Bioprosthetic heart valves, and Transcatheter heart valves. Each of these types of heart valve has its own benefits and risks. Mechanical heart valves are very durable and guarantee 20-30 years of functioning in ideal conditions. The selection of Prosthetic heart valves is a complex procedure required to access several risk factors. Among different factors, the age of the patient is one of the major aspects generally considered for Prosthetic heart valves.
The rise in the geriatrics population, technological advancement in product development, the rise in heart valve disorders, and the growing awareness are driving the demand for the Prosthetic heart valve globally. The favorable policies by the regulatory authorities and the rise in the R&D activity in the domain are also contributing to the growth of the Prosthetic (artificial) heart valves Market. Some of the major MedTech giants are investigating their potential products in the Prosthetic (artificial) heart valves market include Lepu Medical Technology, Sorin Group, Abbott Laboratories, Colibri Heart Valve, On-X Life Technologies, Micro Interventional Devices, Direct Flow Medical, Edwards Lifesciences Corporation, LivaNova, JenaValve Technology, Cryolife, Inc., Medtronic, MERIL LIFESCIENCES, Boston Scientific Corporation, and Others.
Recent Developments and Breakthroughs in Cardiac Devices Segment
- In January 2022, the School of Medical Research and Technology (SMRT) of IIT Kanpur launched Hridyantra, a challenge-based program to develop an advanced artificial heart also called Left Ventricular Assist device (LVAD) for patients with end-stage heart failure.
- In August 2021, the Stereotaxis and Shanghai Microport EP Medtech Co., Ltd. announced a broad collaboration to advance technology innovation and commercial adoption of robotics in electrophysiology in China.
- In August 2021, Acutus Medical announced that its suite of new algorithms for the mapping and ablation of complex atrial arrhythmias received FDA clearance and CE mark approval.
- In August 2021, Kestra™ Medical Technologies, Inc. announced that the company received premarket approval from the FDA for the ASSURE® Wearable Cardioverter Defibrillator (WCD) system.
- In June 2021, Abbott announced that the company has the capacity and supply to effectively support the growing demand for mechanical circulatory support (MCS) devices for effective advanced heart failure treatment.
- In June 2021, Abbott announced its XIENCE family of stents has received FDA approval for one-month DAPT labeling for high bleeding risk (HBR) patients in the US.
- In June 2021, Rapid Response Revival (RRR) earned CE mark certification in Europe for their personal automated external defibrillator (AED), CellAED.
- In June 2020, Philips received FDA approval for its two new automated external defibrillators, HeartStart FR3 and HeartStart FRx.
Owing to the very high demand from the user side, the favorable approach by the regulatory authorities and the rise in the funding for the R&D activities, the Cardiac Devices Market is expected to attract new players in the coming years. The segment is expected to witness several mergers and acquisitions, and collaboration among the MedTech giants.
Cardiac Devices Market – Future Prospects
The future of cardiac devices appears to be very bright due to their safety and effectiveness, although incorporation and adoption of new technology are going to be a little challenging. The individualized approach is required for treatment, and further studies are also needed to identify novel technologies and strategies with a positive impact on patient diagnosis and treatment. Relevant developments and innovations in devices, implantation processes, and postprocedure follow-up may improve clinical outcomes among patients. Cardiac devices will become an essential management tool in patients with cardiovascular diseases.