Cardiovascular Repair And Reconstruction Devices Market Growth & Trends
The global cardiovascular repair and reconstruction devices market size is expected to reach USD 5.20 billion by 2030 and expand at a CAGR of 5.8% from 2024 to 2030. Increase in the prevalence of Congenital Heart Defects (CHDs) and the availability of technologically advanced cardiovascular valves, grafts, and patches are among the key factors expected to drive growth over the forecast period.
Various initiatives by government organizations for the management of cardiovascular diseases is also expected to drive growth. For instance, the American Heart Association funds research projects pertaining to CVD. It has funded some breakthrough projects in cardiology, such as techniques & standards for Cardiopulmonary Resuscitation (CPR), the first artificial heart valve, cholesterol inhibitors, implantable pacemakers, drug-eluting stents, and microsurgery. The foundation has funded more than USD 4 billion in the research projects since 1949.
Increase in the demand for effective therapies that reduce the incidence of adverse cardiac remodeling and help in regeneration or replacement of the myocardial tissues that get damaged during ischemic events is also anticipated to boost the cardiovascular repair and reconstruction devices market over the forecast period. Incidence of various CVD, such as heart attacks, stroke, and cardiac arrest, is rising owing to several risk factors such as changes in lifestyle, smoking, alcohol consumption, physical inactivity, improper nutrition, and obesity. According to the American Heart Association, cardiovascular diseases accounted for about one in three deaths in the U.S. The medical cost of CHD is anticipated to increase by nearly 100% between 2013 to 2030. These factors are expected to boost growth over the forecast period.
Technological advancements in the fields of material sciences, interventional cardiology, and cryopreservation are also expected to drive the cardiovascular reconstruction devices market. The use of expanded PTFE for cardiovascular patches, the introduction of transcatheter heart valves, and the development of minimally invasive technologies, such as transcatheter aortic valve implantation or transcatheter aortic valve replacement, are among few factors expected to boost growth over the forecast period. In addition, developments in cryopreservation techniques by key players such as CryoLife are among major technological advancements in cardiovascular therapies that are predicted to positively influence the market.
Cardiovascular Repair And Reconstruction Devices Market Report Highlights
- Vascular graft products dominated the market with a revenue share of 71.3% in 2023. This dominance is linked to the rising demand for less invasive procedures, which is driven by developments in clinical pharmacology, cell biology, vascular surgery, and molecular chemistry.
- The valve repair segment is expected to grow fastest at a CAGR of 6.9% from 2024 to 2030. This growth is driven by advancements in the treatment of cardiovascular conditions related to heart valves.
- North America dominated the market with revenue share of 48.66% in 2023. Growing urbanization and technological advancement, rapidly growing markets, and rising disposable income are the factors attributed to the market's growth in the region.
- The Asia Pacific market for cardiovascular repair and reconstruction devices is expected to experience substantial growth in the coming years. This growth can be attributed to a large population, increasing demand, a growing number of elderly individuals, and higher disposable incomes.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Global Cardiovascular Repair and Construction Devices Market Variables, Trends, & Scope
Chapter 4. Global Cardiovascular Repair and Construction Devices Market: Product Estimates & Trend Analysis
Chapter 5. Global Cardiovascular Repair and Construction Devices Market: Regional Estimates & Trend Analysis
Chapter 6. Competitive Landscape
Companies Mentioned
- Medtronic plc
- BD
- TERUMO CORPORATION
- W. L. Gore & Associates, Inc.
- Getinge
- Artivion, Inc
- Edwards Lifesciences Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 3.52 Billion |
| Forecasted Market Value ( USD | $ 5.2 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
