Edwards Lifesciences, Abbott, and Medtronic Lead the Way: iData Predicts Remarkable Growth in US Cardiac Surgery Market

VANCOUVER, BC, CANADA, September 7, 2023/EINPresswire.com/ -- The U.S. cardiac surgery market is on the brink of expansion, as indicated by a recent report unveiled by iData Research, a prominent global market research firm specializing in medical devices and pharmaceuticals. The comprehensive report offers profound insights into various market segments, including tissue heart valves, mechanical heart valves, annuloplasty repair devices, transcatheter mitral valve repair devices, transcatheter heart valve replacements (THVR), temporary pacing and pressure measurement catheters, cerebral embolic protection devices, balloon valvuloplasty tools, on-pump coronary artery bypass (ONCAB) equipment, off-pump coronary artery bypass (OPCAB) equipment, autotransfusion devices, endoscopic vessel harvesting devices, anastomosis assist devices, along with the markets for transmyocardial revascularization, ventricular assist devices (VAD), intra-aortic balloon pumps (IABP), artificial heart replacement devices, remote hemodynamic monitoring systems, patent foramen ovale (PFO) closure devices, patent ductus arteriosus (PDA) closure devices, atrial and ventricular septal defect closure devices, left atrial appendage (LAA) closure devices, pre-shaped guidewires, and extracorporeal membrane oxygenation (ECMO).

By the year 2029, the U.S. Cardiac Surgery Market is poised to undergo substantial growth. This surge is predominantly driven by two pivotal factors: the progressively aging population and the escalating prevalence of cardiovascular diseases nationwide. Notably, there exists a substantial patient base for various applications of cardiac surgery devices. The latest iData report comprehensively analyzed over 30 cardiac surgery companies, including purchase order data from over 2000 hospitals and Ambulatory Surgery Centers throughout the U.S.. This process employed a rigorous methodology to gauge procedure volumes using CPT, ICD and DRG codes by segment, market sizes, unit sales, company market shares, and thus generating precise forecasts.

Key highlights from the latest iData report include:

Robust Market Expansion: Overall, the U.S. cardiac surgery market attained a valuation of $8.4 billion in 2022. This valuation is projected to increase during the forecast period, achieving a Compound Annual Growth Rate (CAGR) of 6.1%, reaching a total of $12.7 billion by 2029.

Technological Progression: Over the forecast period, several novel percutaneous aortic and mitral valve replacement devices are anticipated to be introduced into the U.S. market. These innovations, including the delivery systems and surgical techniques employed for their placement, are expected to enable successful treatment of a larger number of patients. The augmented procedural volume, coupled with the relatively high average selling price (ASP) of percutaneous products, is anticipated to drive market growth.

Rise in Patient Population: Many indications for cardiac surgery devices are associated with a substantial patient population. Approximately 1.2 million individuals in the U.S. suffer from calcified or otherwise damaged aortic valves. This condition is often found in patients with multiple comorbidities, rendering them less suitable candidates for invasive open surgery. Likewise, children with congenital defects would benefit from a percutaneous approach, avoiding the need for repeated invasive procedures as they age. This considerable potential patient pool is expected to propel market growth.

Competitive Landscape: iData's report offers an extensive analysis of the competitive landscape, profiling key players and their strategies. Companies are focusing on innovation, partnerships, and mergers to fortify their market positions and gain a competitive advantage. Currently, Edwards Lifesciences, Abbott, and Medtronic are at the forefront of the U.S. cardiac surgery market. Edwards Lifesciences' substantial market share is notably attributed to its dominance in the THVR segment.

For more information on the U.S. Cardiac Surgery Device Market, and to access the complete iData Research report, please visit:

https://idataresearch.com/product/cardiac-surgery-market-united-states/

About iData

iData Research stands out as the premier market research and intelligence provider, offering unparalleled insights and comprehensive data analysis across a multitude of industries. With a strong reputation and a proven track record, iData Research has solidified its position as the best choice for businesses seeking to make informed decisions in today's dynamic market landscape.

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Emma Matrick
iData Research
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