Heart Implants Market Growth Analysis | 2023-2028

Market Insights

The heart implants market was estimated at USD 46.23 billion in 2022 and is likely to grow at a CAGR of 11.82% during 2023-2028 to reach USD 90.38 billion in 2028.

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What are cardiac implants?

Cardiac Implants are devices that can monitor the normal functions of the heart, detect fluctuations, and provide information about the heart. These implants are implanted in the heart to know the information about the heart. Moreover, cardiac monitoring device implants can be primarily used in the treatment of heart diseases such as myocardial ischemia, arrhythmias, and acute myocardial infarction, among others.

COVID-19 Impact

The COVID-19 outbreak positively influenced the growth of the heart implants market. Rising cases of coronavirus across the globe put a heavy strain on the healthcare sector. Rise in heart patients and cardiovascular diseases and as they are highly prone to getting infected by COVID-19, there is strong growth of heart implants during the pandemic.

Key Players

Key players operating in the market are-

• Medtronic, Inc. (US)
• Boston Scientific Corporation (US)
• Abbott Vascular Inc. (US)
• Edwards Life-sciences Corporation (US)
• St. Jude Medical, Inc. (US)
• Thoratec Corporation (US)
• SynCardia Systems, Inc. (US)

Market Dynamics

The growing incidence of cardiovascular disease is one of the major factors intensifying the growth and demand of the heart implants market in the coming years. Rapid growth in technology, increasing awareness about health care in people, and the rising geriatric population, further augment the market growth. With favorable reimbursement policies by government agencies, these devices are increasingly adopted by healthcare professionals which further boosts the product demand in the coming years.

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Segment Analysis

By Application Type

Based on application, the market has been classified into arrhythmias, myocardial ischemia, acute myocardial infarction, congestive heart failure, and others. The arrhythmias segment accounted for a substantial market share in 2022. Growing incidences of Cardiovascular Diseases (CVDs), increasing cost of cardiac disease management, favorable government policies; and excessive alcohol consumption, smoking, lifestyle disorders, and obesity are contributing to the prevalence of cardiac arrhythmia, further bolstering the segment growth.

Regional Insights

The market in North America accounted for the largest share in 2022 and is projected to continue its dominance during the review period. This is mainly attributed to the strong presence of well-developed healthcare infrastructure, increasing investment in R&D activities, the strong prevalence of cardiovascular diseases, higher adoption of these technologies, and favorable government initiatives. Moreover, the favorable reimbursement policies, high rate of R&D activities, easy availability of advanced technology, and enhanced patient knowledge within the region, further proliferate the regional growth.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The heart implants market is segmented into the following categories.

By Device Type

• Pacemaker Devices
• Cardiac Resynchronization Therapy Devices
• Implantable Hemodynamic Monitoring Devices
• Implanted Heart Rhythm Monitors
• Coronary Stents
• Implantable Cardioverter Defibrillator
• Heart Valve
• Others

By Application Type

• Arrhythmias
• Myocardial Ischemia
• Acute Myocardial Infarction
• Congestive Heart Failure
• Others

By End User Type

• Hospitals
• Emergency Medical Centers
• Ambulatory Surgical Center
• Home Care Settings
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Target Audience

Here is the list of the group of customers that the Heart Implants Market hopes to have the greatest opportunity to convert-

• Heart Implants distributors
• Heart Implants suppliers
• Heart Implants manufacturers
• Hospitals
• Government bodies

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

Current market segmentation of any one of the device types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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