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.
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.
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.
The
key players in the annuloplasty ring market are Medtronic plc, Edwards
Lifesciences Corp., Abbott Laboratories, LivaNova plc, Braile Biomédica Co.,
and Labcor Laboratórios Ltd.
Market Segment:
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.
Key regions
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
Key Vendors
•
Medtronic
•
Edwards
•
Sorin
•
St. Jude Medical
•
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