Cardiovascular Devices Market
Global Cardiovascular Devices Market Overview:
The cardiovascular devices market is anticipated to record a 6.3% CAGR over the forecast era 2019-2024 . The increasing incidence of cardiovascular diseases and growing geriatric population are the most important factors driving cardiovascular device market growth. Cardiovascular disease CVD alone United States for 800,000 deaths in 2017, according to the American Cardiology College. Among Americans, cardiovascular disease averages one individual dies every 40 seconds. Coronary heart disease CHD accounts for most fatalities, followed by stroke and heart failure. According to the European Heart Network, cardiovascular disease CVD leads 3.9 million fatalities in Europe and over 1.8 million fatalities in the EU each year. Other variables, such as rapid technological advances, increasing population consciousness, and elevated preference for minimally invasive processes, also complement market growth.
Global Cardiovascular Devices Market Scope of the Report:
Cardiovascular devices market is segmented by device type and geography. Based on device type, diagnostic and tracking systems and therapeutic and surgical devices sections segment the market. Diagnostic and monitoring devices are further segmented into electrocardiogram ECG , cardiac remote monitoring, and other diagnostic and monitoring devices.
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Similarly, the segment of therapeutic and surgical systems is divided into cardiac aids, cardiac rhythm management systems, catheters, grafts, heart valves, stents, and other therapeutic and surgical devices.
Global Cardiovascular Devices Market Key trends:
Cardiac Rhythm Management records significant growth, and ECG dominates the diagnostic and monitoring segment. Increasing cardiovascular diseases like arrhythmias, stroke, and high blood pressure are increasing global demand for cardiac rhythm management devices, including pacemakers and implantable defibrillators. On the diagnostic and tracking front, a fresh generation of portable and compact ECG drives higher acceptance, particularly in the home healthcare segment. In addition, increasing awareness and demand for minimally invasive surgery drive demand for coronary stents.
United States to Dominate the Market Share in the Forecast Period:
The United States dominates the cardiovascular devices market, owing to the high prevalence of cardiovascular disease, the high adoption rate of minimally invasive procedures, the presence of reimbursements, the increasing geriatric population and the high demand for continuous and home-based monitoring.
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Global Cardiovascular Devices Market Competitive Landscape:
The cardiovascular devices industry is consolidated and competitive. Major players have created themselves in market segments. For example, Medtronic leads cardiac rhythm management. In addition, businesses compete with worldwide players and established local players in emerging areas. In nations like China and Japan, local players control important market share.
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