The global cardiac prosthetic devices market is expected to grow at a considerable rate in the coming six years. A growing population base more prone to chronic cardiac conditions and rising mortality rates due to sudden cardiac arrests are expected to be the primary drivers for this growth. The efficiency of implantable pacemakers and stentless valves in treating cardiac arrhythmia and chronic cardiac conditions is also expected to fuel the demand for this market through to 2020.
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Cardiac prosthetic products include single, dual, triple chamber implantable & external pacemakers, mechanical heart valves, transcatheter, stented and stentless pulmonary and aortic tissue valves. The shift in focus of cardio logical surgeons towards heart valve reconstruction surgeries using pulmonary and stentless heart valves are the major reason for their large share of the generated market revenue for 2013. Further development of allograft and autograft heart valves will also fuel market demand as they have been proven to have a greater efficacy than conventional methods.
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The cardiac prosthetic devices market is geographically divided into North America, Europe, Asia Pacific and RoW. The largest share of revenue for 2013 was generated by North America. Driving factors for the North America cardiac prosthetic device market are the presence of an increasing aging population more prone to cardiac ailments, reinforced cardiac reimbursement policy framework and development of novel products aimed to reduce post surgery rejection rates. Asia Pacific region is expected to witness considerable growth throughout the forecast period due to rapid growth in development of medical infrastructure. The major participants in the global cardiac prosthetic devices market are Siemens Healthcare, Edward Lifesciences Corp., AtriCure Inc., Abbott Laboratories, St. Jude Medical Inc., Sorin Group, Medtronic Inc., Boston Scientific Corp. and Abiomed.
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