The Global Cardiac Restoration Systems Market is driven by growing prevalence of cardiovascular diseases
Cardiac restoration systems help improve the condition of damaged hearts by reducing the geometric alteration and restoring the native anatomy via surgical or minimally invasive procedures. These systems comprise annuloplasty rings, ventricular restoration devices, and mitral valve repair devices. Annuloplasty rings are implanted around the valve annulus to reshape and stabilize it. Ventricular restoration devices are employed to reduce the dilated left ventricle area and restore its elliptical shape. Mitral valve repair devices such as repair clips and annuloplasty rings are used to repair regurgitation of the mitral valve. The growing prevalence of cardiovascular diseases worldwide has increased the demand for cardiac restoration systems substantially.
The cardiac restoration systems market is estimated to be valued at USD 2.63 Billion in 2024 and is expected to reach USD 3.75 Billion by 2031, growing at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Key players operating in the Cardiac Restoration Systems are Abbott Vascular Inc., BioVentrix Inc., CryoLife Inc., Edwards Lifesciences Corporation, NeoChord Inc. The major players are focusing on new product launches and expansions to gain a competitive edge in the market.
Key Takeaways
The growing prevalence of cardiovascular diseases and increasing geriatric population are major factors fueling the demand for cardiac restoration systems globally. As per the World Health Organization (WHO), cardiovascular diseases account for over 17.9 million deaths each year, which is estimated to grow to over 23.6 million by 2030.
The Cardiac Restoration Systems Market is witnessing increasing growth opportunities in developing regions due to rising healthcare expenditures, improving access to healthcare facilities, and growing medical tourism. The manufacturers are investing in these regions to tap the untapped potential. For instance, Edwards Lifesciences recently invested in expanding its manufacturing facility in India to cater to the rising demand in the Asia Pacific market.
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