Global cardiac implants market expected to reach $79.2 billion by 2032 with CAGR of 8.5%.
From GlobeNewswire: 2024-12-15 08:00:00
The global cardiac implant market was valued at USD 38.1 billion in 2023 and is projected to reach USD 79.2 billion by 2032, with a CAGR of 8.5%. Factors such as the increasing prevalence of cardiovascular diseases, aging population, and technological advancements are driving market growth.
Governments worldwide are investing in healthcare infrastructure to address the growing burden of cardiovascular diseases. In the U.S., the CDC allocated over $300 million in 2023 for heart disease and stroke prevention programs. The FDA has also approved next-generation cardiac implants, boosting adoption rates.
Major players in the cardiac implants market include Medtronic, Boston Scientific, Abbott Laboratories, and more. The market is segmented by product, application, and end-user, with pacemakers dominating the market in 2023. Hospitals are the primary end-users due to advanced infrastructure and access to cutting-edge technologies.
In 2023, North America held the largest revenue share in the cardiac implants market, driven by high prevalence of cardiovascular diseases and advanced healthcare infrastructure. Europe and Asia-Pacific are also significant markets, with growing aging populations and investments in healthcare technologies contributing to market growth. The Healthy China 2030 initiative in China aims to reduce cardiovascular diseases through improved healthcare infrastructure and preventive measures. Recent advancements include Medtronic’s new leadless pacemaker, Boston Scientific’s AI-powered implantable cardioverter-defibrillator, and Abbott’s FDA-approved heart valve implant for aortic stenosis. Access detailed market analysis and outlook reports on cardiac implants for 2024-2032 at SNS Insider. Contact Akash Anand for more information on purchasing options and market research services.
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