Annuloplasty Ring Market Dynamics, Growth Opportunities and Top Manufacturers Analysis till 2023
01st April 2019 – The global Annuloplasty Ring Market is expected to display higher growth rate over the next five years.
Rapid surge in the market is credited to the growing prevalence of cardiac
disorders, diabetes, end-stage renal disorders, and tricuspid valve (TV)
insufficiency. Increasing prevalence of hypertension and mitral valve
dysfunction are predicted to boost market demand for annuloplasty ring as well.
Globally, market is predicted to generate massive revenue over the next five
years, providing numerous opportunities for industry participants to invest in
research and development of annuloplasty ring market.
Other factors such
as prevalence of genetic and hereditary disorders, changing lifestyle,
increasing alcohol consumption, varying food preferences are anticipated foster
market growth in the near future. However, declining reimbursement rate and
increasing cost associated with medical treatment are restricting the market
growth. Growing prevalence of Ischemic Heart Disease (IHD) condition, which is
considered as one of the leading cause of the heart attack across the world, is
expected fuel market demand for annuloplasty ring over the forecast period.
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Additionally,
rising number of minimally invasive surgeries is considered as one of the major
driver for market growth in the recent years. The recent technological
advancement in the healthcare sector and development of novel products such as
custom made annuloplasty rings along with maximum safety and efficiency are
fostering market demand over the coming years. In addition, rising approval
rate for regular use of annuloplasty ring during minimum invasive surgeries is
further advancing market progress in the past few years.
An annuloplasty
ring is used to tighten or reinforce the mitral valve in the heart. An annuloplasty
ring is largely utilized during other surgical procedures to repair a heart
valve. During widening of the valve leads to flapping, thus causing improper
opening and closing of the valve. Use of annuloplasty ring prevents backward
blood leakages via the valve.
The annuloplasty
ring market is broadly categorized into major segments based on the product
type such as custom annuloplasty rings, rigid annuloplasty rings and semi-rigid
annuloplasty rings. Custom annuloplasty rings segment is growing rapidly in the
market with substantial revenue generation in the last few years. Growing
demand of custom annuloplasty rings segment is attributed to the better
flexibility, cost efficiency and higher product penetration.
Key Vendors
• Medtronic
• Edwards
• Sorin
• St. Jude Medical
Report contents include
• Analysis of the
annuloplasty ring market including revenues, future growth, market outlook
• Historical data
and forecast
• Regional analysis
including growth estimates
• Analyzes the end
user markets including growth estimates.
• Profiles on
annuloplasty ring including products, sales/revenues, and market position
• Market structure,
market drivers and restraints.
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The market is divided by region as North
America, Europe, Asia-Pacific, Latin America and Africa. North America has
shown major growth in recent years owing to the rise in implementation of
latest technologies in healthcare sector, surge in number of research &
development activities and existence of well-established medial infrastructure
in the region. In European region, Germany, France, and United Kingdom are
projected to witness steady growth.
Asia-Pacific region is estimated to hold
a major share in the annuloplasty ring market with massive growth in forecast
period. Countries such as India, China and Singapore are leading the
Asia-Pacific market with prevalence of cardiovascular disease & diabetes,
increasing healthcare infrastructure activities, recent epidemiological
transition and significant investment by leading industry players considering
potential growth opportunities in the region.
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