Cardiovascular Devices Market By Device Type (Cardiac Diagnostics & Monitoring Devices, Electrophysiology Devices, Peripheral Vascular Devices, Interventional Cardiac Devices, Cardiac Rhythm Management, Cardiac Prosthetic Devices, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018- 2024

Global cardiovascular devices market size expected to generate revenue of around USD 66.70 billion by 2024, growing at CAGR of around 6.5% between 2018 and 2024. Cardiovascular disease is one of the prominent causes of death among Western countries across the globe.

09-Jul-2018 | Number of pages: 110 | Report Code: ZMR-3204 | Report Format : | Status : Published

Analysis

Cardiovascular devices are portable devices generally used for the purpose of therapeutics and for treating heart-related disorders like cardiac arrhythmias, CCF, hypertension, myocardial infarction, etc. Cardiovascular diseases include congestive heart failure, arrhythmia, cardiomyopathy, congenital heart disease, hypertension, heart infections, coronary heart disease, valvular diseases, and myocardial infarction. The procedures involved in the treatment of cardiovascular problems are transmyocardial revascularization surgery, cardiac resynchronization therapy, coronary artery bypass surgery, heart transplantation, heart surgery, balloon valvuloplasty, valve replacement, and renal denervation surgery. Cardiovascular devices are showing continuous growth in terms of performance, characteristics, and features because of the continuous investment in the research and development by the healthcare industry to enhance the quality of the device.

As per the World Health Organization, cardiovascular diseases are the primary cause of death worldwide. About 17.5 million people died from cardiovascular diseases in 2015 representing 31% of all global deaths. Also, the global burden of cardiovascular disease is increasing owing to the growing geriatric population base across the world. Thus, the cardiovascular device market has vast potential owing to the large patient pool and an upsurge in the need for devices dealing with cardiovascular diseases.

Global Cardiovascular Devices Market

Furthermore, the increase in consumption of junk food and a decline in the physical activities of people has resulted in the increase of cardiovascular diseases. However, high cost, complex development procedure, and handling techniques are the major restraints that may limit the growth of the market. Nevertheless, high investment in research & development to launch new and advanced cardiovascular devices with minimum side effects along with increasing adoption of remote patient monitoring and telemedicine is propelling the demand for cardiovascular devices market within the forecast period.

The cardiovascular device market is segmented on the basis of device type into cardiac diagnostic & monitoring devices, electrophysiology devices, peripheral vascular devices, interventional cardiac devices, cardiac prosthetic devices, cardiac rhythm management, and others. Cardiac diagnostic and monitoring devices are estimated to hold the largest market value share due to the compact and portable designs of ECG devices along with data storage properties.

North America is anticipated to dominate the market in terms of value share in the forecast period. Developed healthcare infrastructure, favorable government policies, and research grant provided by the government and ruling authorities are expected to boost the market in this region. Europe is covering the second largest market value share in the cardiovascular device market followed by the Asia Pacific. The Asia Pacific is likely to grow at a high CAGR during the forecast period while Latin America market is projected to grow at a moderate rate. Large population base in the Asia Pacific region, especially in India, China, and Japan are the driving factors for the growth of the cardiovascular device market in this region. The Middle East and Africa are also expected to experience noticeable growth in the years to come.

The report also includes detailed profiles of end players such as Aboimed, Inc., Abbott Vascular, Biotronik SE & Co. KG, B. Braun Melsungen AG, Cardinal Health Inc., Boston Scientific Corporation, Cook Medical, Inc., Cordis Corporation, GE Healthcare, JOHNSON & JOHNSON, and others.


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