The global cardiovascular devices market is expected to reach US$ 71.1 Bn in 2027 from US$ 40.8 Bn in 2018. The cardiovascular devices market is estimated to grow with a CAGR of 6.5% from 2019-2027.
The market is driven by the factors such as, significantly increasing prevalence of cardiovascular diseases, rising developments for cardiovascular devices, and increasing elderly population. Whereas, the market is likely to slower down its growth owing to the restraining factors such as rigorous regulations for approval and high cost of products and procedures.
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The cardiovascular devices market is majorly driven by the changes or the sifting in the trend of the technology that enables the players to develop innovative devices. The shift in the technology provides an aim for the market players to improve their product. The innovative product assists in enhancing the better results for health and live better life. The market is consolidated with various market leaders that are conducting various developmental activities for the cardiovascular devices.
For instance, mobile cardiac telemetry (MCT) system is the innovative product that is assisting the cardiac patients to monitor their heart condition. The mobile cardiac telemetry is a small sensor and monitor that patients wear in their day to day life. Whenever cardiac events occur, MCT instantaneously transmits the data to a center for analysis and response, which in turn sends a report along with graphs and trends to the patient’s physician for diagnosis and therapy management. MCT is one of the most effective methods of cardiac monitoring. The ability to analyze every heartbeat with little interference to the patient’s normal day. It also create opportunity to initiate an immediate emergency response as needed, makes it one of the most attractive choices in today’s market.
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Global cardiovascular devices market was segmented by device, application and end user. The device segments was classified as electrocardiography (ECG), pacemaker, stent, defibrillator, cardiac catheter, guidewire, heart valve, event monitor, and others. Based on the application it is divided into coronary heart disease, sudden cardiac arrest, stroke, cerebrovascular heart disease and others. And on the basis of the end user the market is classified as hospitals, ambulatory surgery centers, and cardiac centers.
Some of the major primary and secondary sources included in the report for the cardiovascular devices market are World Health Organization, American College of Cardiology, American Heart Association, Dubai Health Authority, European Heart Network, Health Authority of Abu Dhabi, Italian National Health Service, Brazilian Society of Cardiology and others.
The global cardiovascular devices market by end user segments was led by hospitals segment. In 2018, the hospitals held a largest market share of 61.9% of the cardiovascular devices market, by end user. This segment is also expected to be the fastest growing segments the market in 2027 owing to advancements in the infrastructures of hospitals, offering various services and facilities and others.
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CARDIOVASCULAR DEVICES – MARKET SEGMENTATION
- Electrocardiography (ECG)
- Cardiac Catheter
- Heart Valve
- Event Monitor
- Coronary Heart Disease
- Sudden Cardiac Arrest
- Cerebrovascular Heart Disease
By End User
- Ambulatory Surgical Centres
- Cardiac Centers
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This post was originally published on The Picayune Current