02 August 2020
Visiongain has launched a new pharma report Cardiovascular Repair and Reconstruction Devices Market Report 2020-2030: Prospects by Product (Heart Valve Repair, Cardiovascular Graft (Endovascular Stent Graft, Hemodialysis Access Graft, Peripheral Vascular Graft), Cardiovascular Patches (Cardiac repair patches, Vascular Repair Patches)), Raw Material (Synthetic Patches, Biological Patches), Applications (Knee Injuries, Shoulder Injuries, Foot & Ankle Injuries, Hip & Groin Injuries, Elbow & Wrist Injuries, Back & Spine Injuries, Other Injuries), and Geography.
The global Cardiovascular Repair and Reconstruction Devices market is projected to grow at a lucrative CAGR of ~xx% and anticipated to surpass USD xx billion by 2030.
The presence of technologically enhanced cryopreservation techniques, changing lifestyles, and growing chronic diseases are documented as major factors in the industry of cardiovascular repair and reconstruction devices that are estimated to boost growth in the years to come. Cost-related issues, however, can restrict the overall market growth in the years to come.
Transcatheter valve introduction has increased the demand for tissue valves. Transcatheter Aortic Valve Implantation (TAVI) or Transcatheter Aortic Valve Replacement (TAVR) is an FDA-approved technique for the treatment of symptomatic aortic stenosis in heart valve replacement. Some of the established players in the TAVR market are Edwards Lifesciences, Medtronic, Meril Life Sciences Pvt. Ltd., and St. Jude Medical, Inc. among other prominent players.
Also, JenaValve, a Germany-based company, has successfully enrolled in the CE mark study for the next JenaValve Pericardial TAVR gene in April 2018. It is expected that the entry of new players with advanced technology will boost market growth significantly over the forecast period.
Furthermore, the growth of the market for cardiovascular repair & reconstruction devices is dependent upon advancement in technology such as advanced cryopreservation techniques. They help preserve raw materials extracted from animal tissues for a long time, and this plays a crucial role in increasing their life cycle. These technological developments have a positive impact on the growth of the industry by increasing demand for cardiovascular grafts or patches.
The global cardiovascular repair and reconstruction market is dominated by the North American region and similar dominance is anticipated over the forecast period. The reason behind overall market growth is attributed to an unhealthy lifestyle and growing geriatric population, high adoption rate of advance technology, development of research centers with state-of-the-art technology, and growth in healthcare facilities across the region. The United States is a major consumer in the field for cardiac repair and replacement products owing to rising chronic diseases such as cardiovascular disease, cancer, arthritis, and diabetes, as well as the presence of technologically advanced products in the region.
It is anticipated that the Asia Pacific will experience the fastest growth over the forecast period. The growth is attributed to its growing patient pool, rising aging population, high unmet healthcare needs and changing lifestyles. Japan, China, & India are the emerging economies across the Asia Pacific region which are offering lucrative opportunities for revenue generation across the Asia Pacific region. Furthermore, improvements in the region's healthcare system and the presence of global major players are also anticipated to fuel cardiovascular repair and reconstruction market growth over the forecast period.
Some of the major players operating in this industry are Arthrex, Inc., Admedus Ltd, Bard Peripheral Vascular, Bauerfeind AG, Breg, Inc., Conmed Corporation, CorMatrix, Cryolife, Depuy Synthes Companies, DJO Global, Inc., Edwards Lifesciences Corporation, KARL STORZ GmbH & Co.Kg, LeMaitre Vascular, Inc., MAQUET Cardiovascular, LLC, Medtronic PLC, Mueller Sports Medicine, Inc., Performance Health International Limited, Reverse Medical Corporation, RTI Surgical Holdings, Inc., Smith & Nephew PLC among other prominent players.
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