Cardiovascular Medical Devices Market
During the forecast era 2019-2025 , the cardiovascular devices market is anticipated to register a CAGR of 6.3 percent. The increasing incidence of cardiovascular diseases and the growing geriatric population are the most important factors driving the growth of the market for cardiovascular devices. According to the American Cardiology College, 800,000 deaths in cardiac disease CVD accounted in 2017 alone. An average of one person dies every 40 seconds from cardiovascular disease among Americans. Coronary heart disease CHD is responsible for most fatalities from CVD, followed by stroke and heart failure. According to the European Heart Network, cardiovascular disease CVD leads 3.9 million deaths in Europe and more than 1.8 million deaths in the European Union every year. In addition, other factors, such as rapid technological advances, increased population awareness, and strong preference for minimally invasive processes, also supplement the growth of the market.
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Scope of the report:
The market for cardiovascular devices is segmented based on the type and geography of devices. The market is divided into diagnostic and monitoring devices and segments of therapeutic and surgical devices based on device type. In addition, diagnostic and tracking systems are segmented into electrocardiogram ECG , remote cardiac monitoring, and other devices for diagnosis and tracking. Similarly, the segment of therapeutic and surgical devices is divided into cardiac aids, cardiac rhythm control systems, catheters, grafts, heart valves, stents, and other therapeutic and surgical devices.
Key Trends:
Cardiac Rhythm Management is Registering Significant Growth and ECG Dominated the Diagnostic And Monitoring Segment.
Increasing cardiovascular diseases such as arrhythmias, stroke, and high blood pressure are improving global demand for tools to manage cardiac rhythm, including pacemakers and implantable defibrillators. A new generation of mobile and compact ECG is driving its higher acceptance on the diagnostic and monitoring front, particularly in the home healthcare segment. In addition, the increasing awareness and demand for minimally invasive surgery drives the demand for coronary stents.
United States is dominating the market growth:
Due to the high incidence of cardiovascular disease, the high level of adoption of minimally invasive procedures, the presence of reimbursements, increased geriatric population, and high demand for ongoing and home-based surveillance, the United States dominates the cardiovascular devices market.
Competitive Landscape:
The market for cardiovascular devices is consolidated and highly competitive. The key players have settled in particular market segments. For example, Medtronic is a leader in the management of cardiac rhythm. In addition, the companies compete with global players as well as established local players in the developing countries. Local players control a important market share in nations like China and Japan.
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