Research Nester released a report titled “Cardiovascular device Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global cardiovascular device market in terms of market segmentation by products, indications, end-users, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
The global cardiovascular device market is projected to grow at a CAGR of ~7% during the forecast period, i.e., 2023-2033 on the back of the rising prevalence of cardiovascular diseases, which has led to rising demand for advanced cardiovascular devices to diagnose and monitor vital signs. The growing dependency of physicians, patients, and others to get information about health through wearable cardiac monitoring devices is a major estimate to drive the global market.
The global cardiovascular device market is segmented by products into diagnostic & monitoring devices, and therapeutic & surgical devices. Among these segments, the diagnostic & monitoring devices segment is anticipated to hold the largest share during the forecast period on the back of the increasing prevalence of cardiovascular diseases globally, which is expected to boost the demand for technologically advanced cardiac monitoring devices in the market.
Rising cases of cardiac disease such as heart attack, coronary heart disease, and cardiac arrhythmia are expected to drive the growth of the cardiovascular medical devices market in the coming years. As per the Centers for Disease Control and Prevention, in 2020 death of approximately 697,000 people occurred in the U.S on account of heart disease.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the market in the Asia Pacific region is projected to grow at the highest CAGR throughout the forecast period owing to the rising geriatric population and high prevalence of cardiovascular diseases. Currently, the market in North America holds the largest share. This can be attributed to the presence of major players in cardiovascular devices in the region.
Growing Prevalence of Cardiovascular Diseases and Rising Adoption of Technologically Advanced Devices to Drive Market Growth
According to World Health Organization (WHO), the growing incidence of cardiovascular diseases is the number one cause of deaths globally, which accounted for 17.9 million people deaths every year.
The innovations in devices are expected to bolster the market growth of cardiovascular devices market. Rising investments in research and development activities by the major players of the market are further expected to upsurge the market growth.
However, the high price of the devices, which has hampered its installation in hospitals, clinics, and ambulatory surgical centers of developing and underdeveloped regions. This is estimated to restrain the market growth.
This report also provides the existing competitive scenario of some of the key players of the global cardiovascular devices market, which includes company profiling of GE Healthcare, Abbott Laboratories, Medtronic Plc, Johnson & Johnson, Edwards Lifesciences, Boston Scientific Corporation, Siemens AG, Koninklijke Philips N.V., Mindray Bio-Medical Electronics Co., Ltd., Cardinal Health Inc., and others.
The profiling enfolds essential information of the companies, which encompasses business overview, products and services, key financials, and recent news and developments.
On the whole, the report depicts a detailed overview of the global cardiovascular devices market that will help industry consultants, equipment manufacturers, and existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties.
The global cardiovascular devices market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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