cardiac restoration systems market

Cardiac Restoration Systems Market By Product Type (Mitral Valve Restoration System And Left Ventricular Restoration System), End-User (Hospitals, Ambulatory Surgical Centers, And Others) and geography is expected to grow at a steady CAGR forecast till 2030 owing to the growing prevalence of cardiovascular disorders and increase in technological advancements in the domain of cardiovascular disease treatment

The global Cardiac Restoration Systems Market is poised for significant growth, projected to achieve a remarkable Compound Annual Growth Rate (CAGR) of 5.35% during the forecast period from 2024 to 2030. The demand for Cardiac Restoration Systems is primarily being boosted by the growing prevalence of cardiovascular disorders, due to various factors such as a sedentary lifestyle, physical inactivity, and increasing usage of alcohol and tobacco. Additionally, an increase in technological advancements to drive innovation in treatment options, a growing geriatric population, and increasing awareness and focus on cardiovascular health, are some of the factors responsible for contributing in the growth of the Cardiac Restoration Systems market during the forecast period from 2024-2030.

Cardiac Restoration Systems Market Dynamics:

According to data provided by the World Health Organization 2021, it was estimated that 17.9 million people died from cardiovascular diseases in the year 2019, making CVD the leading cause of death, globally. Additionally, as per the data provided by the British Heart Foundation 2023, around 550 million people were living with cardiovascular diseases in the year 2019, globally. Thus the rising prevalence of cardiovascular disease due to various factors including sedentary lifestyle, physical inactivity, and increasing usage of alcohol and tobacco, will create a need for the treatment and management of cardiovascular disorders, thus resulting in the positive growth of the Cardiac Restoration Systems market.

The data provided by the World Health Organization 2022 stated that approximately 1.9 billion people, accounting for 39% of the world’s population were within the overweight category in 2022, globally. Of these, more than 650 million people were living with obesity, which accounted for approximately 13% of the global population. As obesity is one of the major factors contributing to the increasing prevalence of cardiovascular disorders, therefore with the increase in obesity among the global population, will lead to an increase in cardiovascular disorders, thus in turn contributing to the growth of the Cardiac Restoration Systems market.

Further, the increase in technological advancements in the domain of cardiovascular disorders is another factor contributing to the growth of the market. As the constant improvement in device designs, materials, and miniaturization have led to more effective and less invasive interventions, it is further encouraging more product adoption among users, thus contributing to the growth of the Cardiac Restoration Systems market.

However, the high cost associated with the treatment of cardiovascular disorders, stringent regulatory compliance, and lengthy approval process are some of the key constraints that may limit the growth of the Cardiac Restoration Systems market.

Cardiac Restoration Systems Market Segment Analysis:

Cardiac Restoration Systems Market by Product Type (Mitral Valve Restoration and Left Ventricular Restoration), End-User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of the Cardiac Restoration Systems market, the Mitral Valve Restoration category is estimated to amass a significant revenue share in the Cardiac Restoration Systems market in 2023. This can be attributed to the various advantages provided by the Mitral Valve Restoration Systems. Mitral Valve Restoration Systems are usually employed to preserve a patient’s natural valve tissue, avoiding the need for complete valve replacement. Additionally, it also helps to maintain the structural integrity and function of the valve and helps in reducing the risk of complications. Further, mitral valve restoration allows the maintenance of the heart’s natural anatomy and function, this may contribute to better overall heart function and improved quality of life for the patients. Therefore, the various advantages provided by the Mitral Valve Restoration category are some of the factors, which will contribute to the growth of the segment.

Furthermore, as the demand for this segment grows, various products are getting regulatory approvals from various regulatory organizations. For example, in March 2019, the US FDA provided approval to Abbott’s MitraClipTM device to repair a leaky mitral valve without open-heart surgery.

Therefore, owing to the above-mentioned factors, Mitral Valve Restoration is expected to register significant growth, thereby driving the growth of the overall Cardiac Restoration Systems market during the forecast period.

North America is expected to dominate the overall Cardiac Restoration Systems Market:

North America is expected to account for the highest proportion of the Cardiac Restoration Systems Market in 2023, out of all regions. This is due to the presence of a large patient pool suffering from cardiovascular disorders. Additionally, the presence of developed and sophisticated healthcare infrastructure, rising technological advancements in the domain, the presence of major players in the region, and a highly potent market in terms of product development, and launches are some of the factors driving the growth of the Cardiac Restoration Systems Market in North America.

According to data provided by the Centers for Disease Control and Prevention 2023, it was estimated that around 60 million women (44%), were living with some form of heart disease every year on average in the United States. Further according to the same source around 310,661 women died of heart disease in 2021, in the US. Thus, the rising prevalence of various cardiovascular disorders influenced by various factors such as sedentary lifestyle, consumption of alcohol and tobacco, and obesity will create a need for the management and treatment of these diseases, thus eventually contributing to the positive growth of the Cardiac Restoration Systems Market in the United States, which will eventually propel the Cardiac Restoration Systems market in North America.

Additionally, the presence of key market players in the region, advanced healthcare infrastructure, high healthcare expenditure, robust research and development, and favorable reimbursement policies are some of the important factors responsible for driving the overall market for Cardiac Restoration Systems in North America during the forecast period.

Cardiac Restoration Systems Market Key Players:

Some of the key market players operating in the Cardiac Restoration Systems market include Abbott Laboratories, Artivion, Inc., BioVentrix, Inc., Edwards Lifesciences Corporation, ANCORA HEART, INC., NeoChord, Inc., CryoLife, Syntach AB, Affluent Medical SA, CardioKinetix, and others.

Recent Developmental Activities in the Cardiac Restoration Systems Market:

• In February 2023, Abbott Laboratories acquired Cardiovascular Systems, Inc. The main objective of the acquisition was to provide better care for patients with peripheral and coronary artery disease.
• In January 2022, CryoLife a key player in cardiac and vascular surgery company focused on aortic disease renamed itself to Artvion, Inc.

Key Takeaways from the Cardiac Restoration Systems Market Report Study

• Market size analysis for current Cardiac Restoration Systems Market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Cardiac Restoration Systems market.
• Various opportunities available for the other competitors in the Cardiac Restoration Systems Market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Cardiac Restoration Systems market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Cardiac Restoration Systems market growth in the coming future?

Target Audience who can be benefited from this Cardiac Restoration Systems Market Report Study

• Cardiac Restoration Systems product providers
• Research organizations and consulting companies
• Cardiac Restoration Systems-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Cardiac Restoration Systems
• Various end-users who want to know more about the Cardiac Restoration Systems Market and the latest technological developments in the Cardiac Restoration Systems Market.

Frequently Asked Questions for the Cardiac Restoration Systems Market:

1. What is meant by Cardiac Restoration Systems?

Cardiac Restoration Systems are medical devices, which are specially designed to provide mechanical support and enhance the function of the heart. These devices are often used in the treatment of heart failure, or any other cardiovascular conditions.

2. What is the market for Cardiac Restoration Systems?

The global Cardiac Restoration Systems Market is poised for significant growth, projected to achieve a remarkable Compound Annual Growth Rate (CAGR) of 5.35% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Cardiac Restoration Systems market?

The Cardiac Restoration Systems Market is slated to witness prosperity owing to factors such as the growing prevalence of cardiovascular disorders. Additionally, an increase in technological advancements to drive innovation in treatment options, a growing geriatric population, and increasing awareness and focus on cardiovascular health are some of the other factors resulting in appreciable revenue growth in the Cardiac Restoration Systems Market during the forecast period (2024-2030).

4. Who are the key players operating in the global Cardiac Restoration Systems market?

Some of the key market players operating in the Cardiac Restoration Systems include Abbott Laboratories, Artivion, Inc., BioVentrix, Inc., Edwards Lifesciences Corporation, ANCORA HEART, INC., NeoChord, Inc., CryoLife, Syntach AB, Affluent Medical SA, CardioKinetix, and others.

5. Which region has the highest share in the global Cardiac Restoration Systems market?

North America is expected to dominate the overall Cardiac Restoration Systems Market during the forecast period, 2024 to 2030. This can be attributed to the presence of a large patient pool suffering from cardiovascular disorders, influenced by various factors including obesity, and an unhealthy life style. Additionally, the presence of developed and sophisticated healthcare infrastructure, rising technological advancements in the domain, the presence of major players in the region, and a highly potent market in terms of product development, and launches are some of the factors driving the growth of the Cardiac Restoration Systems Market in North America.