As per a report published by National Heart, Lung, and Blood Institute (NHLBI), heart failure incidences continue to rise in the United States with approximately 825,000 new cases diagnosed in 2013. As per NHLBI, 5.1 million Americans over the age of 20 have heart failures and this number is projected to increase by 46% to reach 8 million by 2030. Cardiac restoration systems are usually used after a coronary artery bypass grafting and may precede or be followed by mitral valve repair or other procedures such as endocardectomy and cryoablation. Cardiac restoration systems may be referred to as ventricular remodeling, surgical anterior ventricular endocardial restoration (SAVER), or the “Dor” procedure. Applications of Cardiac restoration systems include mitral valve restoration and left ventricular restoration. Mitral Valve cardiac restoration systems offer an implantable chordae system which enable post-pump, echo guided, chord length modification. Cardiac restoration systems offer a solutions for an accuracy dependent technique where sizing can make all the difference. Left ventricular cardiac restoration systems offer a less invasive intervention for heart failure patients. It differs from conventional surgical reconstructive approaches. Cardiac restoration systems address the safety concerns of physicians about subjecting patients to invasive surgical interventions. Procedures can be performed as a separate stand-alone procedure, concomitant with other procedures or during other occasions when an invasive procedure is employed.
Cardiac restorations systems also consist of the parachute which is designed to be a catheter based cardiac restoration systems used in the left ventricle for patients who have developed an ischemic left sided heart failure. Cardiac restoration systems parachutes partition the damaged muscles, isolation the non-functional muscle segment from the functional segments, helping in decreasing the overall volume and restoring the normal geometry and function in the left ventricle.
There are a number of manufacturers that offer cardiac restoration systems. However a number of these cardiac restoration systems manufacturers offer their cardiac restoration systems majorly North America and Europe. This is due to the higher demand and adoption for the use of the cardiac restoration systems in the region. However, due to the fast expanding medical device industry in Asia Pacific, it is expected to be one of the most lucrative market for cardiac restoration systems during the forecast period.
The Global Cardiac Restoration Systems Market is classified on the basis of product type, end user and region:
Based on Product Type, cardiac restoration systems market is segmented into the following:
Based on the Application, Cardiac Restoration Systems Market is segmented into the following:
Based on the End User, Cardiac Restoration Systems Market is segment into the following:
Growing focus on healthcare in various regions is a major driving force for the market. The increasing number of cardiac cases globally is a major factor contributing to the growth of the Cardiac Restoration Systems Market globally. Increasing demand for innovative healthcare diagnostic product lines in the healthcare industry also driving the growth of the cardiac restoration systems market. However the high cost of cardiac restoration systems increases the R&D cost incurred that may hinder the growth of the Cardiac Restoration Systems Market.
On the basis of geography, global Cardiac Restoration Systems Market is segmented into six major regions that include North America, Latin America, Europe, Asia-Pacific excluding China, China and Middle East & Africa. North America is expected to be the most lucrative cardiac restoration systems market owing to the increasing demand. Europe is expected to be the second most lucrative region for the growth of the cardiac restoration systems market. Asia-Pacific is the emerging cardiac restoration systems market due the extensively expanding pharmaceutical industry in the region particularly India and China.
Key participants operating in the Cardiac Restoration Systems Market are: BioVentrix, Abbott, CardioKinetix Inc, NeoChord Inc, ON-X LIFE TECHNOLOGIES INC, Valtech, and others.
The report covers exhaustive analysis on:
Regional analysis includes