The increasing preference for minimally invasive interventions and their rising success rate are boosting the global market for annuloplasty repair devices, says Fortune Business Insights in their new study. The study is titled” Annuloplasty Repair Devices Market Size, Share and Global Trend by Product (Mitral valve repair devices, Tricuspid valve repair devices), By End-user (Hospitals, Ambulatory surgical centers, Specialty clinics), and Geography Forecast till 2026”. The report provides a detailed analysis of various factors boosting and restricting growth of the market between 2018 and 2026.
Top Key Players Covered:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the global Annuloplasty Repair Devices Market. Some of the companies operating the global Annuloplasty Repair Devices Market are;
- Edwards Lifesciences Corporation
- Cardiac Dimensions
- Valcare Medical
- Labcor Laboratórios Ltda
- Braile Biomédica
- Teleflex Incorporated
- Boston Scientific Corporation
In terms of products, the mitral valve repair devices accounted for the largest share in the market and is anticipated to maintain its dominance through the forecast period. This is owing to the improvement in efficiency offered by the product.
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Increasing Cases of Cardiovascular Diseases Supports Expansion
The increasing geriatric population and their vulnerability towards various acute and chronic diseases are major factors promoting the growth of the annuloplasty ring repaid devices market. Besides this, the changing lifestyle and irregular eating habits, coupled with the consumption of tobacco and alcohol, are increasing the prevalence of chronic diseases, mainly those affecting heart and lungs. This is anticipated to boost the global annuloplasty repair devices market growth in the forecast period.
On the downside, the market may face challenges in terms of complications that arrive post-surgery, and strict rules imposed by governments regarding the use of annuloplasty bands. Nevertheless, the increasing prevalence of cardiac diseases is anticipated to bring lucrative growth opportunities for the global market in the long run.
Improving Healthcare Infrastructure and Facilities Promoting Faster Growth in Latin America and Asia Pacific
Geographically, North America is likely to account for the highest percentage of annuloplasty repair devices market share. This is attributable to the rapid adoption of sedentary lifestyles and unhealthy eating habits, besides the prevalence of excessive smoking and drinking that has an adverse impact on human health. As per the American Heart Association, defects in the bicuspid aortic valve occur in 13.7% in a 1000 people in the U.S. This is further expected to stimulate growth in the North America annuloplasty repair devices market in the coming years.
Organizations such as NICE and others in Europe are focusing on the use of supportive annuloplasty device by chalking down supportive guidelines. These guidelines provided by the above-mentioned organizations are anticipated to promote the use of aortic ring annuloplasty repair equipment market in Europe in the forecast period.
On the other side, the improving healthcare infrastructure and medical facilities in Latin America and Asia Pacific, coupled with rising awareness about cardiac diseases, are anticipated to help these regions register faster growth in the forecast duration. Additionally, the availability of annuloplasty repair devices in developing nations of Asia Pacific will help the market generate high revenues in the near future.
Some of the companies functioning in the global market are Braile Biomédica, Boston Scientific Corporation, Mitralign Inc., Labcor Laboratórios Ltda., CryoLife, Inc., Edwards Lifesciences Corporation, Abbott, Cardiac Dimensions Pty Ltd., Valcare Medical, Teleflex Incorporated, Medtronic, and others.
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