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Cardiovascular Repair and Reconstruction Devices Market

Cardiovascular Repair and Reconstruction Devices Market

Cardiovascular Repair and Reconstruction Devices Market Analysis By Product (Cardiovascular Grafts, Cardiovascular Patches & Heart Valve Repair) By End-User (Hospitals, Specialty Clinics & Home Care) By Region – Global Market Insights 2022 to 2027

Cardiovascular Repair and Reconstruction Devices Market
FACT7658MR
  • Aug-2022
  • List of Tables : 25
  • List of Figures : 132
  • 170 Pages
  • Healthcare

Cardiovascular Repair and Reconstruction Devices Market Outlook (2022-2027)

Worldwide sales of cardiovascular repair and reconstruction devices are anticipated to increase at a CAGR of 5.5% from 2022 to 2027. At present, the global cardiovascular repair and reconstruction devices market is valued at US$ 4.2 billion and is expected to reach a market size of US$ 5.5 billion by 2027.

The use of cardiovascular grafts is projected to increase faster at a CAGR of 5.7% through 2027; their need is being driven by the rise in cardiovascular surgeries caused by cardiac diseases.

Report Attributes

Details

Cardiovascular Repair and Reconstruction Devices Market Size (2022)

US$ 4.2 Billion

Projected Market Value (2027)

US$ 5.5 Billion

Global Market Growth Rate (2022-2027)

5.5% CAGR

Market Share of Cardiovascular Grafts

65%

Key Companies Profiled

  • Abbotts
  • Terumo Medical Corporation
  • Getinge AB
  • Cryolife
  • Medtronic
  • W. L. Gore and Associates
  • Admedus Ltd.
  • Bard Peripheral Vascular
  • Edwards Lifesciences Corporation
  • LeMaitre Vascular Inc.
  • MAQUET Cardiovascular LLC
  • Reverse Medical Corporation
  • St Jude Medical

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Demand Analysis of Cardiovascular Repair and Reconstruction Devices (2017-2021) Vs. Market Outlook (2022-2027)

“Rising Prevalence of Congenital Heart Disorders across the World”

According to Fact.MR, a market research and competitive intelligence provider, the cardiovascular repair and reconstruction devices market is anticipated to increase at a CAGR of 5.5% from 2022 to 2027.

Cardiovascular diseases include conditions such as congenital heart disease, coronary artery disease, and arrhythmias. Heart attacks and discomfort in the chest can be brought on by blood vessel blockages. Women may have symptoms, including extreme tiredness, shortness of breath, and nausea, whereas men are more likely to have chest tightness as an indication of cardiovascular disease. Devices for cardiovascular reconstruction are used to clear obstructions in arteries and veins.

The need for cardiovascular repair and reconstruction devices is expanding as a result of rising rates of congenital heart disorders and developments in structural chemistry, therapeutic pharmacology, and biomedical sciences.

The market for cardiovascular reconstruction devices is anticipated to grow due to an increase in the frequency of cardiac surgery as a result of the prevalence of cardiovascular disorders. The market for cardiac reconstruction devices is also anticipated to develop as a result of favorable reimbursement policies for cardiac patients.

Cardiovascular repair and reconstruction devices market forecast by Fact.MR

Why is Demand for Cardiovascular Repair and Reconstruction Devices Surging across the World?

“Wide Availability of Technologically-Advanced Cryopreservation Methods Stimulating Market Growth”

The global market for cardiovascular repair and reconstruction devices is also driven by strict regulations regarding the security of drug development procedures and the effectiveness of quality control and quality assurance standards guiding the pharmaceutical and related industries in many developed economies.

The market for cardiovascular repair and reconstruction devices is expected to develop over the coming years due to the availability of technologically innovative cryopreservation methods, health consciousness, and an increase in chronic conditions. Technologically advanced cryopreservation techniques help to extend the life cycle of the raw materials obtained from animal tissues by keeping them for a longer length of time.

Additionally, the market is expanding as a result of ongoing innovation because most manufacturers of cardiovascular monitoring devices in the post-pandemic phase operate with a sense of urgency and consumer interest.

Demand for tissue valves has increased as a result of the development of transcatheter valves. For the treatment of symptomatic aortic stenosis, the FDA-approved procedure known as transcatheter aortic valve implantation (TAVI) or transcatheter aortic valve replacement (TAVR) is used. The market is anticipated to fuel the advancement of minimally-invasive products during the forecast period.

An Adaptive Approach to Modern-day Research Needs

What is Impeding Sales Growth of Cardiovascular Repair and Reconstruction Devices?

“Lack of Qualified Professionals & Strict Regulatory Policies Hampering Market Progress”

The need for cardiovascular medical equipment is being severely hampered by the lack of a predetermined regulatory framework. The market expansion is being hampered by elements such as the high cost of device maintenance and a shortage of qualified specialists.

Over the forecast period, market growth is anticipated to be constrained by the risk of skin infections. The development of the cardiovascular repair and reconstruction devices market is expected to be hampered by the high cost of equipment and a lack of knowledge about products made from microbes.

Strict regulatory policies are another factor limiting the market for cardiovascular repair and reconstruction devices. Without following regulatory requirements, the leading companies' innovative devices cannot be released in the market for commercial usage, causing manufacturers to lose money on their investments.

What are the Key Opportunities for New Market Players?

“New Market Entrants Should Concentrate on Introduction of Advanced Endovascular Techniques”

New companies are focusing on the introduction of advanced endovascular techniques to increase their market share. The usual method of treating peripheral arterial disease, or the accumulation of plaque in the arteries, is angioplasty.

An alternative to angioplasties for treating atherosclerosis, another type of cholesterol and fat build-up in the artery walls, is an atherectomy. This motivates new companies to develop minimally-invasive endovascular solutions to clear blocked arteries.

  • The American start-up, MOST Cardio, offers surgical instruments for cardiovascular procedures. The product line comprises micro-emulsifiers to handle plaque emulsification, patented catheters for removing plaque, and guide wires with robotic guidance. This new industry entrant also performs minimally-invasive operations that reduce blood loss and associated infections using the femoral artery. Additionally, this solution makes sure that during the treatment, the arterial walls won't break down or pierce.

Which Region Offers Lucrative Revenue Generation Opportunities?

“Presence of Several Pharmaceutical and Biosciences Firms in North America”

North America accounts for the highest share in the cardiovascular repair and reconstruction devices market owing to the presence of various pharmaceutical and biosciences firms as well as numerous prominent cardiovascular repair and reconstruction device manufacturers.

Increasing adoption of cardiovascular surgical instruments, growing consumer awareness of commercially accessible products and services, and the presence of a large target patient pool are the primary drivers of market expansion in the region. The sophisticated healthcare infrastructure, well-established reimbursement practices, and a significant amount of research activities are the factors driving the market growth in North America.

Country-wise Insights

Why is the U.S. Cardiovascular Repair and Reconstruction Devices Market So Prominent?

“High Adoption of Cardiovascular Disease Monitoring and Diagnostic Devices in the U.S.”

Factors driving the market expansion in the U.S. are the rising prevalence of heart disorders caused by unhealthy lifestyles, poor diet quality, and alcohol addiction, as well as the rapid acceptance of cardiovascular disease monitoring and diagnostic devices.

High levels of economic development, growing usage of cardiovascular ultrasound machines, and the availability of colleges, hospitals, manufacturers of medical devices, and research facilities are some of the main elements promoting the creation of innovative goods and their commercialization in the country.

Will China Be a Lucrative Market for Cardiovascular Repair and Reconstruction Device Suppliers?

“Growing Medical Tourism & Well-established Regulatory Framework for Cardiovascular Devices in China”

The cardiovascular repair and reconstruction devices market in China is anticipated to increase at a CAGR of 8.5% from 2022 to 2027.

Factors influencing the market growth in China are the ageing population, rising demand for cardiovascular OCT imaging techniques, high unmet healthcare demands, changing lifestyles, and advancements in the healthcare infrastructure.

The two main reasons anticipated to drive the market in China during the forecast period are the well-established regulatory framework for cardiovascular devices and the growing awareness among people about the seriousness of heart diseases. Increasing medical tourism is also anticipated to drive demand for cardiovascular reconstruction devices in the country.

Category-wise Insights

Why are Cardiovascular Grafts Witnessing Higher Demand?

“Rapid Implementation of Cardiovascular Grafts in Several Coronary Heart Disease Treatments”

Based on product, the cardiovascular repair and reconstruction devices market is divided into cardiovascular grafts, cardiovascular patches, and heart valve repair. Cardiovascular grafts account for 65% share of the global market.

Cardiovascular grafts are utilized to replace the aorta in cases of aortic aneurysm. Because coronary heart diseases, including atrial septal defect, ventricular septal defect, and double-outlet ventricles are becoming more common, cardiovascular graft applications in pediatric procedures are growing.

Additionally, endovascular stent grafts within this segment became the largest sub-segment as a result of a growth in their use in vascular procedures, particularly for the treatment of thoracic and abdominal aortic aneurysms.

Which End User is Likely to Contribute the Most to Market Expansion?

“Wide Availability of Healthcare Facilities with Modern Amenities and Presence of Skilled Practitioners in Hospitals”

Based on end user, the market is classified into hospitals, specialty clinics, and home care. Due to the rising need for skilled healthcare practitioners to implant crucial cardiovascular devices such as stents, sales of cardiovascular repair and reconstruction devices in hospitals are anticipated to grow at the highest CAGR throughout the projection period. Hospitals assist in reducing patient unpleasant responses during important medical treatments.

Hospital cardiac departments execute a wide range of operations, including open heart surgery, interventional cardiac treatments, and occlusion procedures, among others. Advanced cardiac devices are now used in these facilities as a result of rising spending on healthcare infrastructure in emerging economies.

Many hospitals in developing countries are sponsoring the expansion of the cardiac unit. The segment will therefore experience strong growth over the coming years because of the increased procedural volume and patients' choice of facilities with modern amenities.

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Competitive Landscape

Manufacturers of cardiovascular repair and reconstruction devices are implementing a variety of organic and inorganic growth methods to get a competitive edge and solidify their market positions. Several market players are concentrating on their capabilities to invest in R&D initiatives for advanced cardiovascular medical devices.

For instance :

  • In 2020, for its ultra-edition package of vivid cardiovascular ultrasound instruments, which contain new AI-based features that enable doctors to routinely achieve quicker, more accurate assessments, GE Healthcare received FDA 510k approval.

Key Segments in Cardiovascular Repair and Reconstruction Devices Industry Research

  • By Product :

    • Cardiovascular Grafts
    • Cardiovascular Patches
    • Heart Valve Repair
  • By End User :

    • Hospitals
    • Specialty Clinics
    • Home Care
  • By Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

Currently, the global cardiovascular repair and reconstruction devices market stands at US$ 4.2 billion.
From 2022 to 2027, sales of cardiovascular repair and reconstruction devices are set to increase at 5.5% CAGR.
Cardiovascular grafts account for 65% share of the global market.
The market for cardiovascular repair and reconstruction devices in Canada is set to expand at 4.2% CAGR.
Abbotts, Cryolife, and Medtronic are key suppliers of cardiovascular repair and reconstruction devices.
The cardiovascular repair and reconstruction devices market is projected to reach US$ 5.5 billion by 2027.

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