Forecast and Analysis on Global Cardiovascular Device Market by Infinium Global Research

The Infinium Global Research analyzes the Cardiovascular Device Market over the period of 2017 to 2023. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global cardiovascular device market. It will help a lot of decision-makers to develop strategies and find new opportunities in the global markets of cardiovascular device. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the cardiovascular device market during the period. The global cardiovascular device market is expected to grow at a CAGR between 6.5% and 7.0% over the forecast period of 2017 - 2023.

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Cardiovascular devices are medical devices used to diagnose and treat diseases associated to cardiovascular system and various heart diseases and health-related problems. The various cardiovascular devices available in the market include Pacemaker, Electrocardiography (ECG), Defibrillator, Guidewire, Event Monitor, Stent, Heart Valve, Cardiac Catheter, and many more. These devices help in regular heart functioning in patients with heart defects.

Rise in Number of Heart Disorder Cases Among the Elderly Population is the Major Factors Driving the Growth of Cardiovascular Devices Market

The growing aging population and rise in number of heart disorder cases among the elderly population are the major factors driving the growth of cardiovascular devices market. Growing demand for minimally invasive surgery, increasing healthcare expenditure are the other factors favoring the growth of cardiovascular device market. According to the World Health Organization, every year, an estimated 17 million people globally die of cardiovascular diseases.

Among these deaths, 7.2 million were due to heart attacks and 5.7 million due to stroke. However, the high cost of the devices and stringent regulatory policies for product approval are acting as restraints for cardiovascular devices. However, high cost of the cardiovascular device and lack of reimbursement policies are some of the factors that are restraining the growth of the market.

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Cardiovascular Device Market: Segmentation 

The report on cardiovascular device market is segmented into product type and end user. On the basis of product type, the cardiovascular device market is further categorized into cardiovascular monitoring and diagnostic devices, ventricular assist devices, pacemakers, defibrillators, heart valves, interventional cardiac devices, cardiac ablation catheters, coronary stents, and other devices. By end user, the market is segmented into Hospitals, ambulatory surgery centers, and diagnostic clinics. Hospitals hold the largest share in this market and are expected to maintain this trend during the forecast period due to increasing patient base, advancements in the infrastructures and large presence of skilled professionals.

North America is Expected to Lead the Global Cardiovascular Devices Market

The report on the cardiovascular device market provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Among them, North America is expected to lead the global cardiovascular devices market in the forecast period owing to the increasing cases of cardiac diseases and increasing awareness about various heart diseases, and high spending capacity on healthcare facilities. Asia-Pacific is expected to witness the fastest growth due to a rising number of cardiovascular disease cases and the surging geriatric population.

Cardiovascular Device Market: Competitive Analysis

The major players in the cardiovascular device market include Melsungen AG, St. Jude Medical, Abbott, Terumo Cardiovascular Systems Corporation, Cook Medical Inc., Boston Scientific Corporation, Cardinal Health Inc., Medtronic and Becton, Dickinson and Company.

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