Global Cardiovascular Devices Market - Forecasts from 2018 to 2023
The global cardiovascular devices market is expected to grow at a CAGR of 5.72% from 2017 to 2023. The market is projected to reach a size of US$63.314 billion by 2023 from US$45.348 billion in 2017. Cardiovascular devices are used for the treatment of arrhythmia or heart failure in patients. CVDs or Cardiovascular Diseases come under non-communicable diseases, which covers more than half of the global diseased population. According to WHO, 17.7 million people die every year from CVDs. More than 75% of deaths occur in low-income and middle-income countries, while 80% of all CVDs are due to heart diseases and stroke. Rest include diabetes, high blood pressure, obesity and other problems related to an individual’s lifestyle.
North America has been able to maintain a significant share in the global cardiovascular devices market due to increase in the adoption of advanced surgical treatments, rising awareness of commercially available products and the presence of advanced healthcare services to a targeted patient pool. Japan in the Asia-Pacific region is the world’s third-largest economy with a high standard of living, safety, and a vision to achieve sustainable healthcare system by 2035 and is also a reservoir of an aging population undergoing cardiac related surgeries and treatment. Other drivers include rapid technological advances, an inclination of increasing number of people towards a healthy living, growing prevalence of heart diseases and preference to the minimally invasive technologies over conventional ones. In addition, the booming medical tourism industry is expected to further aid to the demand for Cardiovascular devices in countries like India where reduced costs and the latest medical technologies are the key attractions.
Key players in the cardiovascular devices market include Medtronic, GE Healthcare, Boston Scientific, Edwards Lifesciences, Abbott Laboratories and Johnson & Johnson.
The report provides a brief introduction to the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentation which has been covered as part of the report.
This section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the Cardiovascular Devices market growth. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
The global cardiovascular devices market is segmented as type, gender, age-group, applications, and geography as below:
Cardiac Rhythm Management devices
Implantable cardioverter defibrillators
Defibrillation leads and Pacing leads
Remote monitoring systems
Interventional Cardiac devices
Peripheral Vascular devices
Inferior vena cava filter
Hemodynamic flow alteration devices
Ventricular assist devices
Structural heart devices
Atrial Septal Defect (ASD) /Patent Foramen Ovale (PFO) closure device
Ventricular Septal Defect (VSD) closure device
Transcatheter aortic heart valves
Mitral tissue valves
Left atrial appendage occlusion device
Above 75 years
Open Heart Surgeries
Minimally Invasive Surgeries
Beating heart/Off-pump heart surgeries
United States (USA)
United Kingdom (UK)
Middle East & Africa (MEA)
United Arab Emirates (UAE)
Asia Pacific (APAC)