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Sales of Cardiac Prosthetic Devices Is Projected to Reach a Market Size of US$ 9.5 Bn by 2027 | Report Fact.MR

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Seoul, Sept. 23, 2022 (GLOBE NEWSWIRE) — The global cardiac prosthetic devices market is anticipated to reach a valuation of US$ 9.5 billion by 2027, according to the latest study by Fact.MR, market research and competitive intelligence provider,

The prevalence of cardiovascular diseases such as atrial fibrillation, heart valve failure, and stroke, which cause high mortality rates and stroke among the elderly, is the main factor driving market expansion. High demand for implantable pacemakers and heart valve replacement devices to improve cardiac function is projected to propel market growth over the forecast period (2022-2027).

Cardiac prosthetic devices have the potential to increase the quality of life and lowering mortality rates by replacing diseased valves. The prevalence of heart disorders is increasing due to reasons such as the rising ageing population, severe obesity, and unhealthy lifestyles. One of the most prevalent cardiovascular conditions affecting the senior population is stroke, which can lead to serious prosthetic heart failure. Dyspnea may potentially result in heart failure, which will increase the demand for cardiac prosthetic systems.

Aorta degeneration and mitral valve prolapse are common in people with this inherited connective tissue illness, which may eventually necessitate cardiac prosthetic device implantation as a therapy option for the heart’s efficient operation. Various technological advancements such as the creation of mini pacemakers and suture-less valve replacements are also contributing to market expansion.

Get a Sample PDF of This Research Report with a Detailed Table of Content:

https://www.factmr.com/connectus/sample?flag=S&rep_id=7718

Rising Rates of Pacemaker Implantation among Ageing Population to Restore Normal Heart Rates”

By product type, the cardiac prosthetic devices market is divided into implantable pacemakers, external pacemakers, transcatheter heart valves, tissue heart valves, and mechanical heart valves. Implantable pacemakers account for 40% share of the global market.

Due to the rising rates of cardiac pacemaker implantation among the ageing population, there is an increased demand for implantable pacemakers. The numerous product advantages, such as its capacity to alleviate signs of an irregular, sluggish heartbeat and restore normal heart rates, which in turn also helps erase the signs of bradycardia, will further spur the segment growth.

Recent innovations in implantable pacemakers, including dynamic pacemaker technology and microprocessor-controlled devices, are improving device efficiency and fostering market expansion.

Key Takeaways from Market Study

  • Sales of cardiac prosthetic devices are expected to rise at a CAGR of 7.6% through 2027.
  • The global cardiac prosthetic devices market is currently valued at US$ 6.6 billion.
  • Market in Canada is anticipated to expand at a CAGR of 6.8% over the forecast period.
  • Demand for external pacemakers is predicted to increase at a CAGR of 7% from 2022 to 2027.
  • Market in Germany is set to increase at a CAGR of 5% through 2027.

Speak to Analyst:  

https://www.factmr.com/connectus/sample?flag=AE&rep_id=7718

Competitive Landscape

Key suppliers of cardiac prosthetic devices are focused on offering a wide range of advanced and innovative devices. Cardiac device manufacturers are concentrating on technological advancements to fulfil the unmet demands of cardiac illnesses. Top market companies are implementing product approval and acquisition to bolster their R&D division and create superior cardiac prosthetic devices.

For instance :

Key Companies of Cardiac Prosthetic Devices

  • CryoLife, Inc.
  • TTK Healthcare
  • Venus Medtech
  • Vitatron
  • Abiomed, Inc.
  • AtriCure, Inc.
  • Biotronik
  • Boston Scientific Corporation
  • Braile Biomedica
  • Abbott Laboratories
  • Edwards Lifesciences Corporation
  • Labcor Laboratrios
  • Lepu Medical Technology Co. Ltd.
  • Lifetech Scientific

Quick Buy Cardiac Prosthetic Devices Market Research Report:

https://www.factmr.com/checkout/7718

Winning Strategy

Top market players are focusing on enhancing the safety of cardiac prosthetic devices, which is anticipated to boost demand for such products. Key companies are concentrating on their product pipelines and forming strategic agreements with other businesses to increase their visibility.

Key manufacturers of cardiac prosthetic devices are engaged in creating innovative prosthetic devices, lowering costs, and increasing their market share in undeveloped areas.

For instance,

  • Abbott introduced a novel minimally-invasive heart valve replacement device to address mitral regurgitation caused by heart failure.

Cardiac Prosthetic Devices Industry Research Segments

  • By Product Type :
    • Implantable Pacemakers
    • External Pacemakers
    • Transcatheter Heart Valves
    • Tissue Heart Valves
    • Mechanical Heart Valves
  • By End User :
    • Hospitals
    • Specialty Centers
    • Ambulatory Surgical Centers
    • Others
  • By Region :
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global cardiac prosthetic devices market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.

The study divulges essential insights on the market on the basis of product type (implantable pacemakers, external pacemakers, transcatheter heart valves, tissue heart valves, mechanical heart valves) and end user (hospitals, specialty centers, ambulatory surgical centers, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).

Check out more related studies published by Fact.MR Research: 

Heart Failure Monitoring Systems Market: Market of heart failure monitoring systems is majorly driven owing to increasing demand of healthcare services in forecast period due to rise in number of patients owing to ageing populations, increasing unhealthy lifestyle and launch of new advanced product launch for heart failure monitoring.

Heart Valve Devices Market: The global heart valve devices market is likely to be valued at US$ 11.16 Billion in FY 2022, up from US$ 9.85 Billion in 2021. During the past year, the industry registered a Y-o-Y increase worth 13.3%. From 2022 to 2032, heart valve devices sales are poised to flourish at a CAGR of 13% to reach a value of US$ 37.5 Billion by the end of 2032.

Drug Eluting Balloon Catheter Market:The global market for drug eluting balloon catheters is anticipated to progress at an impressive CAGR of 18% over the next ten years. This analysis has been performed by skilled analysts at Fact.MR, a market research and competitive intelligence provider, also reveals that demand for drug eluting balloon catheters comprises 20% share in the overall balloon catheters market at present.

Cardiac Mapping System Market: Manufacturers of cardiac mapping systems have been incorporating rapidly advancing technology to optimize the safety and efficacy of catheters. The cardiac mapping system market players are likely to witness novel growth opportunities, on the back of growing demand for technologically-advanced cardiac mapping systems, because as the population ages, cardiac arrhythmias cases are expected to increase.

Cardioscope Market:The cardioscope market is expected to show promising growth due to rising prevalence of cardiovascular diseases, aging population, and advanced technologies used for cardiac surgery. Accuracy and efficiency of the cardioscope play a vital role in the growth of the market.

Cardiovascular Pledgets Market:The global cardiovascular pledgets market has witnessed steady growth due to increasing demand for cardiovascular pledgets for performing cardiovascular surgeries. Synthetic cardiovascular pledgets hold a majority share as easy availability of raw materials and high resilience strength gives it advantages over non-synthetic pledgets.

About Us: 

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner. 

Contact: 
Mahendra Singh 
US Sales Office: 
11140 Rockville Pike 
Suite 400 
Rockville, MD 20852 
Email: [email protected]  
Tel: +1 (628) 251-158 

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Artificial Intelligence

VIVOTEK Launches Successful Make Tomorrow Easier, Today! Vision During ISC West 2024

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TAIPEI, April 18, 2024 /PRNewswire/ — VIVOTEK (3454-TW), the global leading IP security solution provider, announces that last week’s 2024 ISC West trade show in Las Vegas was a tremendous success as it unveiled the 2024 theme Make Tomorrow Easier, Today! to partners, attendees, and the media. Make Analytics Easier, Make Cloud Easier, Make Search Easier, and Make Integration Easier were the core essential components of the 2024 theme, and both the booth staff and visitors were very busy discussing its vision throughout the show. This also demonstrates that VIVOTEK’s AI security solutions and cloud-based service VORTEX attracted interests by many customers for their rich versatility in applications.

From the outset, it was clear that this year’s ISC West was going to surpass previous editions. There were more engagements, and these engagements lasted longer than the past as attendees and the media were hyper-focused on VORTEX, its new camera solutions, AI integration, re-launch of VIVOTEK Premium Partner Program, additional technology solutions, and the roll-out of the 2024 theme.
AI has quickly become a priority in the security industry, and it was a focal point of VIVOTEK’s strategy during the show as well. During its many sales and marketing meetings at ISC West, discussions primarily revolved around how to integrate AI into the product lines and software platforms, much to the gratification of its partners who are seeing a quickly growing need for this technology to satisfy their customers’ needs.
As many of its customers may know by now, VIVOTEK recently entered into an integration partnership with Kisi, a modern cloud-based access control solution based in Brooklyn, New York. This partnership aims to secure physical spaces dedicated to providing a seamless and efficient user experience, making Kisi ideally suited as a VIVOTEK partner. During ISC West, VIVOTEK provided Kisi with a station in the booth to perform demonstrations, which proved to be very popular during the show.
Throughout the event, VORTEX remained a central focal point and rapidly gained popularity among partners since its launch. This was evident throughout the show as the VORTEX station was continuously used for strategic demonstrations. As for the theme, attendees commended on how much they liked this year’s booth layout, how the message of “Making Tomorrow Easier, Today” was delivered in every stations, how accessible the staff was in meeting with them, and how much they enjoyed the partner reception party.
VIVOTEK’s commitment to innovation and customer-centric solutions shone brightly at ISC West, as evident in the overwhelmingly positive feedbacks it received from partners, end users, media, and even other exhibit manufacturers. VIVOTEK extends heartfelt thanks to everyone who contributed to making this year’s ISC West a tremendous success. We look forward to making next year’s ISC West even better!
Photo – https://mma.prnewswire.com/media/2390930/1.jpg

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aiOla’s Speech AI Technology Outperforms OpenAI’s Whisper in Recognizing Jargon

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aiOla’s model automates the creation of customized processes and workflows for conducting reports and inspections across industries such as manufacturing, supply chain and logistics, pharma, and more
TEL AVIV, Israel, April 18, 2024 /PRNewswire/ — aiOla, an AI-powered technology that automates business workflows by capturing spoken data, has announced a major milestone in speech recognition. aiOla’s solution, powered by a novel keyword spotting model, has advanced to match human proficiency in understanding industry-specific jargon. The patented AdaKWS model achieved 95% accuracy in keyword spotting, surpassing OpenAI’s industry-leading Whisper model which reached 88% accuracy.

Keyword spotting is an essential aspect of speech recognition that tackles the problem of identifying jargon by detecting predefined words and phrases. “Think about a courier delivery where your package arrives damaged. The courier needs to file a report using specific codes and acronyms that describe the situation — those codes and acronyms are keywords. Industry jargon is everywhere and in many fields, it dominates communication, comprising up to half of workers’ speech,” said aiOla’s CEO and co-founder, Amir Haramaty. “The ability to spot keywords enables automation of everyday processes across a wide range of industries, from filing a parcel damage report to completing a safety inspection in a food manufacturing plant, transforming speech into actions.”
aiOla’s process automation applications can accurately understand speech, jargon and acronyms across over 100 languages, regardless of accents and background noises. aiOla achieves this by combining its state-of-the-art keyword spotting model with a speech recognition model. The onboarding process takes mere hours: clients provide examples of their checklists or forms, and aiOla automatically generates custom language models for the use case. Workers are then able to complete their operations verbally using the aiOla app while keeping their eyes and hands on the equipment. aiOla’s exceptional ability to spot rare industry terms with high accuracy allows the platform to easily distinguish between speech related to work processes and everyday conversation.
The app leverages a proprietary model that was developed by aiOla’s team of scientists to recognize a predefined list of keywords within speech. This enables aiOla’s solution to be instantly adapted to the jargon of any industry without needing to retrain its AI model. On a benchmark of keyword and jargon detection that includes 16 languages, Whisper’s largest model yields 88% accuracy compared to aiOla’s model achieving 95% accuracy. Additionally, in a recent benchmark which is composed of hard-to-detect keywords taken from English language audiobooks, the CED model from a team of Apple researchers yields 92.7% whereas aiOla’s AdaKWS reaches 95.1% accuracy.
“Keyword spotting poses significant challenges due to the scarcity of training data, especially across diverse languages and dialects. It typically requires industry-specific fine-tuning to enable models to recognize jargon not commonly found in everyday speech,” said aiOla’s Chief Scientist, Professor Joseph Keshet. “Our model consistently surpassed the OpenAI Whisper baselines by a significant margin, achieving a substantial improvement compared to the top-performing baseline. Furthermore, our model is far more efficient, using 15x fewer parameters.”
To learn more about aiOla’s technology visit: https://aiola.com
Explore aiOla’s keyword spotting research: https://arxiv.org/pdf/2309.08561.pdf
About aiOla:
aiOla’s patented technology comprehends over 100 languages, and discerns jargon, abbreviations and acronyms, demonstrating a low error rate even in noisy environments. aiOla’s technology converts manual processes in critical industries into data-driven, paperless, AI-powered workflows through cutting-edge speech recognition.

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AMN utilises SpaceX’s Starlink Constellation to Connect Rural Villages in Nigeria

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LONDON, April 18, 2024 /PRNewswire/ — AMN is pleased to announce that the first AMN base station is now live using LEO backhaul from SpaceX’s Starlink. In 2023, AMN announced a commercial agreement to use Starlink, SpaceX’s constellation of satellites in low Earth orbit, to connect AMN’s mobile network base stations with high-speed, low-latency broadband services.

By utilising Starlink terminals to provide low-latency satellite backhaul, we are able to deliver the full capability of AMN’s unique multi-carrier radio access node (the ARN) with 3G and 4G as well as 2G, with ever-increasing amounts of bandwidth and data volumes demanded by subscribers whilst remaining economically sustainable. The LEO backhaul also paves the way for AMN to deliver 5G services, targeted before the end of 2024.
AMN began rolling out rural base stations in Nigeria in 2018, and the company now owns and operates 1600 base stations across the country. Yebu was the first rural community to be connected using AMN’s ubiquitous solar powered base station. The village is located approximately 80km from Abuja, but can take four hours to reach due to road conditions. Yebu is predominantly an agricultural community, with a market offering local farmers the opportunity to sell their goods.
Since connecting the community in November 2018, AMN has processed more than 9 million voice minutes in Yebu, with significant growth in 2022 and 2023 following the BTS upgrade to AMN’s own radio node (ARN). AMN became an OEM for RAN equipment in 2020 following the acquisition of Range Networks, and now operates more than 1200 ARN across Africa and Latin America. The impact of this strategic move is clear in Yebu. In 2023, the site processed almost three times the amount of traffic than it did in 2020.
“Yebu community was left behind and blind but the coming of Africa Mobile Networks in 2018 has made us to achieve a lot of things like police division station, 24 hours solar light and steady communication all over the world. Before then there was nothing like those things listed.” – Salihu, on behalf of the Yebu community
AMN believes that all communities of any significant size should have access to telecommunication services to benefit the population educationally, economically and socially. AMN has deployed over 4000 base stations across Africa and Latin America. Installation of new sites continues throughout 2024 in Nigeria, DRC, Cameroon, Madagascar, Ivory Coast, Benin and Rwanda. At AMN, we appreciate that any solution to close the digital divide must be economically sustainable and offer a service of the same quality as in urban areas. From designing and manufacturing our own BTS, uniquely developed for the solar-powered rural site, to offering cutting-edge backhaul solutions, we are committed to bringing high quality connectivity to those living in rural and ultra-rural areas.
CONTACT: Jennifer Darcy, [email protected], +44 1908 394482
 

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