Cardiac Prosthetic Devices Market - By Product (Heart Valves, Pacemaker), By End-use (Hospitals, Ambulatory Surgical Centers), & Forecast, 2023 - 2032

Cardiac Prosthetic Devices Market - By Product (Heart Valves, Pacemaker), By End-use (Hospitals, Ambulatory Surgical Centers), & Forecast, 2023 - 2032

Cardiac prosthetic devices market size will grow at 8.4% CAGR from 2023 to 2032. The rising prevalence of cardiovascular diseases and the rapidly aging population is creating a strong demand for cardiac interventions worldwide. The surge in technological advancements, such as minimally invasive procedures and improved materials is also enhancing the efficacy and safety of cardiac prosthetic devices, further driving the industry expansion. For instance, in September 2022, Medtronic unveiled the broader availability of its latest iteration of self-expanding transcatheter aortic valve replacement (TAVR) systems in the U.S., the Evolut™ FX TAVR system to improve ease of use and provide physicians with more predictable valve deployment.

Additionally, the increased healthcare spending and insurance coverage is increasing patient access to cardiac prosthetic devices. Furthermore, the growing awareness of heart health and the pursuit of higher quality of life will fuel the business growth.

The market is categorized based on product, end-use, and region.

Based on product, the cardiac prosthetic devices industry from the heart valves segment will grow at an 8.8% CAGR during 2023-2032. The increasing cases of valvular heart diseases is leading to the technological advancements in heart valve prosthetics. The growing aging population will also drive the preference for innovative and durable heart valve products.

With respect to end-use, the ambulatory surgical centers segment will exhibit an 8.8% CAGR through 2032. The growth is driven by the rising preference for outpatient cardiac procedures. Advantages, such as cost-efficiency, reduced hospitalization time, and increased healthcare accessibility will also contribute to the demand for ambulatory surgical centers as favored choice for cardiac interventions.

Regionally, the Europe cardiac prosthetic devices industry will grow at 8.1% CAGR through 2032, driven by evolving healthcare infrastructure, increasing healthcare expenditure, and the growing aging population. Moreover, the rising awareness of heart health and advancements in medical technologies will favor the regional market growth. In addition, the growing advancements in medical technology, such as minimally invasive surgical techniques and innovative materials, are improving the quality and success of cardiac procedures, making the cardiac prosthetic devices more effective and attractive to patients in the European region.