Ventricular restoration systems offers a less invasive intervention for heart failure patients. Cardiovascular diseases are on a consistent rise in countries around the world. According to WHO, cardiovascular diseases take an estimated 17.9 million lives each year and is the no. 1 cause of death worldwide.
Thus, there is an increase focus on inventing treatments that will reduce the fatalities and mortality rate caused by this diseases.
Several developments in the cardiac field has been made to provide better care. For instance, Ancora Heart initiated a U.S.-based feasibility study to evaluate the AccuCinch ventricular repair system, in May 2019. These developments will further propel augment the growth of the ventricular restoration systems market.
Ventricular Restoration Systems Market: Drivers and Restraints
The rise in no. of cardiac cases around the world is the major factor driving the growth of ventricular restoration systems market. The rising focus on healthcare across various region is another factor that is estimated to propel the growth of the ventricular restoration systems market.
In addition, rising growth in medical tourism in certain developing countries will also contribute towards the growth of the ventricular restoration systems market.
Increasing demand for innovative products and constant R&D activities carried out by the manufacturers to improve the technological aspect in these medical devices will also boost the growth of the ventricular restoration systems market. The accessibility to different medical coverage for the repayment of cardiovascular medical procedures will also contribute towards the growth of the ventricular restoration systems market.
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However, the high cost of the ventricular restoration systems coupled with strict regulations may hamper the growth of the ventricular restoration systems market.
Ventricular Restoration Systems Market: Overview
Based on application, the percutaneous ventricular system is expected to experiences considerable growth during the forecast period owing to the minimization of the risk of a more invasive method.
In the end user segment, hospitals will continue to hold the largest share in the ventricular restoration systems market. The no. of cardiac surgeries carried out in the hospital is expected to contribute towards the continued growth of this segment. The effective in-patient and out-patient services may account for a higher market share.
Ventricular Restoration Systems Market: Regional-Wise Outlook
Geographically, the Ventricular restoration systems Market market is segmented into seven regions viz. South Asia, East Asia, Europe, Latin America, North America, Oceania and Middle East and Africa.
North America is expected to hold the largest market share in the ventricular restoration systems market. This can be attributed towards high demand and adoption of the ventricular restoration systems. Moreover, this well-established healthcare system along with skilled professional will also serve as one of the major factors leading to the dominance of this region in the global ventricular restoration systems market.
The large R&D investments made by key players in this region to cater to the needs of the population also contributes towards the growth of the ventricular restoration systems market in this region.
Europe is expected to hold the 2nd largest market share owing to rising cardiovascular cases in this region. However, East Asia and South Asia is expected to experience fastest growth in the ventricular restoration systems market. The exponentially growing medical device industry in this region will lead to considerable growth of the market in this region. In addition, medical tourism in countries like India will further propel the growth of the ventricular restoration systems market in this region.
Ventricular Restoration Systems Market: Key players
Some of the players identified in the Ventricular restoration systems Market include:
- Abott
- Bioventrix Inc.
- Xeltis AG
- Neochord Inc.
- CryoLife Inc.
- Edwards Lifesciences Corp.
- CardioKinetics Inc.
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