CARDIAC IMPLANTS MARKET ANALYSIS

Cardiac Implants Market, by Device (Pacemaker Devices, Cardiac Resynchronization Therapy Devices, Implantable Hemodynamic Monitoring Devices, Implanted Heart Rhythm Monitors, Coronary Stents, Implantable Cardioverter Defibrillator, Heart Valve, and Others), by Application (Arrhythmias, Myocardial Ischemia, Acute Myocardial Infraction, Congestive Heart Failure, and Others), by End User (Hospitals, Emergency Medical Centers, Ambulatory Surgical Center, Home Care Settings, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast 2018 - 2027

Published In : Jun 2022
Code : CMI1176
Pages :355
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges And Opportunities

Global Cardiac Implants Market– Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020.The COVID-19 pandemic has caused nationwide lockdowns & governments gave measures for mapping containment zones, self-quarantine, contact tracing, and other measures for curtailing spread of the disease. COVID-19 pandemic is expected to have a negative effect on the overall global cardiac implants market, due to drastic decrease in the number of cardiac devices implantation. For instance, according to an article published in the Medicinal journal, a peer-reviewed, scientific journal, in May 2021, during the COVID-19 pandemic, a drastic decrease of up to 75% of all procedures of new intra-cardiac devices implantation was reported in diabetic as well as non-diabetic patients in Western Romania. Hence due to decrease in number of cardiac device implantation there is negative impact on global cardiac implants market.

Global Cardiac Implants Market: Restraint

The global cardiac implants market growth is expected to be hampered in the near future, owing to increasing product recalls and cardiac implant related infection. For instance, in February 2021, Medtronic, a U.S.-based medical device company announced that it had recalled its Evera, Viva, Brava, Claria, Amplia, Compia, and Visia Implantable Cardioverter Defibrillators (ICDs) and Cardiac Resynchronization Therapy (CRT-Ds) devices due to an unexpected and rapid decrease in battery life. This decrease in battery life is caused by a short circuit resulting in some devices to produce first warning that the battery is low earlier than expected. There have been 444 complaints regarding these ICDs and CRT-Ds in the U.S