Cardiac implant devices is valued $30,539million in the year 2017 and is expected to grow at a CAGR of 12.5% from 2018-2023.Cardiac implant devices is segmented based on the type of devices in which coronary stunts is having the highest market share in the year 2017 which is valued $9,542 million in the year 2017 and is anticipated to grow at a CAGR of 11.6% from 2018-2023, followed by ICDs which is valued $7,327 million in the year 2017 and is expected to grow at a CAGR of 13.0% from 2018-2023.Increase in the number of elderly people with increased chronic disease will drive the market for cardiac implant devices.
What is Cardiac Implant Devices Market?
Cardiac implant devices are used to treat long term heart conditions such as heart failure and other heart dysfunctions.Implanting devices into the patient’s body is the second stage of the cardiac treatment.Oral medication is considered first and then the devices are implanted into the patient’s body.This cardiac implant devices are segmented based on the device types in which ICDs are considered as the most commonly used device.Advancements in ICD devices are improving the cardiac treatments.
Market Research and Market Trends of Cardiac Implant Device Market
- Cardio vascular device research laboratory is actively involved in the research and development of new medical devices.Their main focus of area include heart failure medical devices and wireless medical devices monitoring system.
- MoMe Kardia device is a wearable device used for monitoring the patient condition and the recorded information is continuously stream to cloud.This device gives an alert message if there is any disturbance in the patient condition which helps to address them quickly.
- Centers for Medicare and Medicaid service (CMS) has proposed changes in ICD device with advanced technology.The advancement in technology in ICD device is a battery powered device placed under the skin of the patient that keeps a track of the person’s heart rate.Thin wires connect the ICD to heart.If there is any abnormal heart rhythm detected the device will deliver an electronic shock to restore a normal heart beat.This device can prevent a patient from sudden deaths.
- ICD has transformed to use an advanced technology by using Medtronic care link monitor device which is a small convenient device that allows patients to gather information by holding an antenna over the implanted cardiac device.This data is automatically downloaded by the monitor and sent through an internet connection.Clinicians can access the patient’s data by logging onto a website from anywhere.
- Implantable drug delivery system is a device which is implanted inside the patient’s body which deliver small amount of drugs on a regular basis.By this system the patient does not need to be injected.By using implantable drug delivery system it gives more consistent drug level in blood when compared to using injections which makes the treatment more effective which will also reduce side effects.The dosage of the drug can be adjusted according to the patient requirements.
- Cardiac system which is a small pacemaker implanted into a patient body which continuously monitor the heartbeat and as soon as AF (Atrial fibrillation) is detected it emits low energy electrical pulse that are hardly felt by the patient.This system does not require any separate set of delivery devices and the system can be switched off and on repetitively as per the patient’s convenience.
Who are the Major Players in Food diagnostic equipment and consumable market?
The companies referred in the market research report includes Ametek Inc, Beckman coulter Inc, Biomerieux Inc, Bio-rad laboratories, Bruker Corporation and many more.
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