Ventricular Restoration Systems Market Growth Pursuant to Successful Feasibility Studies and Reimbursement Policies
Rising demand for advanced, minimally invasive surgical approaches is prompting key manufacturers to initiate clinical trials verifying efficacy of equipment
Fact.MR, Rockville MD: Fact.MR is currently pursuing a study on the global ventricular restoration systems market for the forecast period ranging from 2021 to 2031. According to its report, the market is expected to surge impressively through 2021, attributable to the ever growing burden of cardiovascular ailments across the world. The market posted significant gains even during the pandemic crisis, as cardiac patients infected with the virus received top priority.
According to the Global Burden of Cardiovascular Diseases and Risk Factors study, prevalent cases of total CVD nearly doubled from 271 million in 1990 to 523 million in 2019, with casualties reaching 18.6 million. Consequently, significant breakthroughs have occurred with regard to providing advanced cardiac care. For instance, in September 2019, Ancora Heart Inc., initiated and acquired positive results from a feasibility study evaluating the safety of the Accucinch ventricular repair system.
More recently, in February 2021, BioVentrix Inc., a specialist in congestive heart failure (CHF) treatment via Transcatheter based Ventricular Restoration (TCVR), received a renewal of its NUB Status 1 reimbursement designation across Germany for its Revivent TCTM TransCatheter Ventricular Enhancement System used in LIVETM Therapy. This renewal is expected to significantly enhance prospects for high quality cardiovascular treatment and improve patient outcomes.
“As people increasingly lead sedentary lifestyles, the burden of cardiovascular diseases is experiencing an unprecedented upswing, prompting healthcare providers to invest in highly advanced therapeutic approaches, thus elevating prospects for ventricular restoration systems,” comments the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Ventricular Restoration Systems Study
- By application, percutaneous ventricular restoration to experience high uptake, amid high preference for non-invasive treatment
- Hospitals are likely to remain the dominant ventricular restoration systems end-users
- High cardiovascular disease prevalence rates to enhance uptake across the US market
- Breakthroughs in minimally invasive surgeries accelerating ventricular restoration systems in the UK
- Germany & France to generate new opportunities for manufacturers amid faster regulatory approvals
- India & China to witness increased adoption, attributed to growing number of Dor procedures
Ventricular Restoration Systems Market- Prominent Drivers
- Growing incidence of left ventricle aneurysm is anticipated to propel demand for ventricular restoration systems in forthcoming years
- Reduced healthcare costs is enhancing medical tourism across emerging countries such as India, enhancing growth prospects
- Manufacturers are incorporating advanced technologies to facilitate minimally invasive procedures
Ventricular Restoration Systems Market- Key Restraints
- Heavy investment expenditure associated with installing ventricular restoration systems to pose a significant growth challenge
- Prolonged waiting times for regulatory approvals in key regions is expected to restrain expansion
Discover more about the ventricular restoration systems market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/5288/ventricular-restoration-systems-market
Abbott Laboratories, Xeltis AG, Bioventrix AG, CardioKinetics Inc., Edwards Lifesciences Corp., Neochord Inc., CryoLife Inc., ON-X Life Technologies Inc., and Valtech Limited are some prominent ventricular restoration systems manufacturers profiled in Fact.MR’s extensive coverage on the market. Primary focus of all players is to introduce technologically advanced devices in order to improve patient outcomes.
In November 2020, Abbott Laboratories strengthened its structural heart portfolio by introducing a new clip delivery system for minimally invasive or non-invasive treatment of leaky mitral valves. This clip device repairs leaky mitral valves without open-heart surgery, delivered through any vein in the leg.
Besides, key manufacturers also emphasize on participation in various exhibitions and expositions to market their products and technology. For instance, in February 2020, Xeltis AG showcased its RESTOREXTM technology which enables patients requiring cardiovascular replacement to develop new living heart valves or blood vessels made from their own tissue, at the Spirit of Berne Conference in Switzerland.
More Insights on the Ventricular Restoration Systems Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global ventricular restoration systems market, presenting historical demand data (2016-2020) and forecast statistics for the period, 2021-2031. The study divulges compelling insights on the market based on application (percutaneous ventricular restoration and surgical ventricular restoration), and distribution channel (specialty clinics, hospitals and ambulatory surgical centers) across seven major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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