Acute Myocardial Infarction (AMI) Treatment Devices Market
Number of pages: 100 | Report Format: PDF | Published date: March 06, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 1.5 billion |
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Revenue Forecast in 2031 |
US$ 2.49 billion |
|
CAGR |
5.8% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023-2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Device, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global acute myocardial infarction (AMI) treatment devices market was valued at US$ 1.5 billion in 2022 and is expected to register a revenue CAGR of 5.8% to reach US$ 2.49 billion by 2031.
Acute Myocardial Infarction (AMI) Treatment Devices Market Fundamentals
A heart attack, also known as a myocardial infarction, is a serious ailment brought on by poor blood supply to the heart muscle. Acute myocardial infarction (AMI) treatment devices are equipment that help facilitate the proper functioning of the heart and help treat patients with end-stage heart failure. They replace certain mechanical functions of the failing heart to enhance organ perfusion and cardiac output. AMI treatment devices have significantly developed in recent years, with new technologies and devices that improve patient outcomes and reduce recovery time. Some recent developments in the AMI treatment devices market include drug-eluting stents, thrombectomy devices, and intra-aortic balloon pumps.
Drug-eluting stents release medication to prevent scar tissue formation in the artery. These stents reduce the risk of restenosis and improve outcomes in patients with AMI. Thrombectomy devices are used to remove blood clots from the coronary artery. These devices have been shown to reduce the time to reperfusion and improve outcomes in patients with AMI. Intra-aortic balloon pumps improve blood flow to the heart by increasing the diastolic.
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Acute Myocardial Infarction (AMI) Treatment Devices Market Dynamics
The acute myocardial infarction (AMI) treatment devices market is expanding due to the rising prevalence of coronary artery disease and cardiovascular diseases (CVDs), together with changes in the lifestyles of people. Additionally, the market is developing due to the increased number of smokers and incidences of obesity, diabetes, hypertension, and other diseases. Heart disease risk rises with smoking. Therefore, the increase in the number of smokers is contributing to the expansion of the global market for AMI therapy devices.
Technological advancements and a rise in the adoption of more modern treatment methods in developing countries are likely to open new business opportunities in the market for acute myocardial infarction (AMI) treatment devices in the near future. Technological advances, such as the development of new stents and catheters, are increasing the effectiveness of AMI treatment devices and improving patient outcomes. The aging population is at a higher risk for cardiac diseases, thus increasing the demand for AMI treatment devices.
Rising healthcare expenditure in developed and developing countries is expected to drive the demand for AMI treatment devices. Government authorities worldwide are taking initiatives to improve healthcare infrastructure and increase access to medical devices. Minimally invasive procedures are gaining popularity due to their lesser complications and quicker recovery time. These factors are driving the demand for AMI treatment devices.
However, the high cost of devices, lack of reimbursements, and inaccessibility of devices to various economies are likely to impede revenue growth in the global market. Some AMI treatment devices may be highly expensive, making it difficult for patients and healthcare facilities to afford them. This could limit the adoption of these devices and slow the market growth. Some healthcare systems may not provide adequate reimbursement for AMI treatment devices, which could also limit their adoption. Many patients and healthcare providers may not know the benefits of AMI treatment devices or understand how to use them effectively. This could limit their adoption and slow the revenue growth of the market. Regulatory approval can be lengthy and complex, which could delay the availability of new AMI treatment devices to the market. There may be alternative treatments available for AMI that are less invasive and less expensive than device-based treatments. This could restrict the demand for AMI treatment devices. AMI treatment devices require skilled professionals to operate and interpret the data they generate. If there is a shortage of skilled professionals in the healthcare system, this could inhibit the adoption of these devices.
Acute Myocardial Infarction (AMI) Treatment Devices Market Ecosystem
The global acute myocardial infarction (AMI) treatment devices market has been analyzed from three perspectives: device, end user, and region.
Acute Myocardial Infarction (AMI) Treatment Devices Market by Devices
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Based on device, the global acute myocardial infarction (AMI) treatment devices market has been segmented into ventricular assist devices (VADs), intra-aortic balloon pumps (IABPs), and total artificial heart (TAH).
The ventricular assist devices (VADs) segment dominated the market with the largest revenue share in 2021. The ventricular assist devices segment is further segmented into right ventricular assist devices (RVADs), left ventricular assist devices (LVADs), bi-ventricular assist devices (BiVADs), and percutaneous ventricular assist devices (pVADs). The growth of the segment can be attributed to the wide availability of technologically advanced devices with greater safety, such as magnetic levitation (MAGLEV), allowing friction-less rotation, thus reducing the prothrombotic which increases the durability, greater adoption of ventricular assist devices for the treatment of heart failure, and strong product pipeline.
Acute Myocardial Infarction (AMI) Treatment Devices Market by End User
Based on the end user, the global acute myocardial infarction (AMI) treatment devices market is segmented into hospitals, ambulatory surgical centers, specialty cardiology centers, and others.
The hospitals segment dominates the global market in terms of revenue. This is attributed to the presence of trained specialists and the presence of most of the patients with myocardial infarction conditions in hospitals. Also, hospitals have the spending ability for these devices, thus leading to their dominance.
Acute Myocardial Infarction (AMI) Treatment Devices Market by Region
Based on region, the global acute myocardial infarction (AMI) treatment devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The North America region dominated the market in 2022. The region’s developed healthcare infrastructure, increase in CVD treatment-focused research activities, high prevalence of cardiovascular diseases, improved healthcare spending, and rapid adoption of technologically improved goods all contribute to the market’s revenue growth. Additionally, the development of technologically advanced healthcare facilities in the United States is anticipated to increase the availability of treatment and fuel market expansion. By supporting the rising treatment rate, favorable reimbursement policies and insurance coverages that lower out-of-pocket costs are anticipated to spur growth.
The Asia Pacific market is likely to grow at a higher revenue CAGR during the forecast period. The aging population in Asia Pacific is expected to increase significantly in the coming years, leading to a higher demand for AMI treatment devices. Besides, the Asia Pacific region is becoming a popular destination for medical tourism, which is expected to fuel the demand for AMI treatment devices.
Acute Myocardial Infarction (AMI) Treatment Devices Market Competitive Landscape
The prominent players operating in the global acute myocardial infarction (AMI) treatment devices market include:
Acute Myocardial Infarction (AMI) Treatment Devices Market Strategic Developments
The global acute myocardial infarction (AMI) treatment devices market is expected to grow at a revenue CAGR of 5.8% during the forecast period.
Medtronic Plc, Abiomed Inc., Terumo Corporation, Getinge AB, and LivaNova, Inc. are among the key players in the global acute myocardial infarction (AMI) treatment devices market.
The ventricular-assisted devices segment dominates the global acute myocardial infarction (AMI) treatment devices market.
Asia Pacific is expected to register the highest revenue growth in the global acute myocardial infarction (AMI) treatment devices market during the forecast period.
The acute myocardial infarction (AMI) treatment devices market is expected to reach US$ 2.49 billion by 2031.
*Insights on financial performance are subject to the availability of information in the public domain