Global Cardiovascular Devices Market is expected to grow at a CAGR of 6.6% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Cardiovascular Devices Market by Type (Surgical Devices, Diagnostic and Monitoring Devices), Application (Cerebrovascular Heart Disease, Stroke, Sudden Cardiac Arrest, Coronary Heart Disease), End-Use (Ambulatory Surgical Centers, Cardiac Diagnostic Centers, Hospital), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global cardiovascular devices market is expected to grow from USD 42.61 billion in 2019 to USD 71.05 billion by 2027, at a CAGR of 6.6% during the forecast period 2020-2027. North-America has the largest share of cardiovascular devices. The cardiovascular devices market in the Asia-Pacific region is expected to grow significantly due to the largest geriatric population. Also, Obesity rates are increasing due to unhealthy lifestyle, generating higher demand for cardiovascular devices.
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Key players in the global cardiovascular devices market are Becton, Cardinal Health, B. Braun Melsungen AG, Cook Medical, Inc., St. Jude Medical, Inc., Medtronic, Boston Scientific Corporation, Dickinson and Company, Abbott Laboratories, Inc., Braun Melsungen AG and Terumo Cardiovascular Systems Corporation. Key players are implementing various strategies such as collaborations, acquisitions and mergers. Covidien plc was acquired by Medtronic plc in order to broaden its product offering.
The type segment includes surgical devices, diagnostic and monitoring tools. The surgical devices segment is classified into stents, pacemakers, catheters, cannulae, guidewires, electrosurgical procedures, occlusion devices and valves. The surgical devices segment is expected to grow at a higher rate as an increased need for minimally invasive surgeries. The application segment includes cerebrovascular heart disease, stroke, sudden cardiac arrest, coronary heart disease. The number of people diagnosed with heart problems have risk of death followed by stroke. Hence, Due to increased awareness and technological advancements, the need for cardiovascular devices is increased. The end-use segment includes ambulatory surgical centres, cardiac diagnostic centres, hospital. Ambulatory surgical centres are gaining popularity because of the ease in procedures, reductions in delay and minimally invasive surgeries.
Cardiovascular devices are used in the treatment or the diagnosis of cardiovascular disorder. It serves as a monitoring treatment, alleviation and prevention of diseases. The diagnostic and monitoring device segment is expected to grow at a moderate rate over the forecast period. Due to increased awareness and technological advancements, the need of cardiovascular devices is increased. The global cardiovascular devices market is driven by increased patients with chronic diseases related to heart. Also, change in lifestyle and unhealthy food habits are resulting in increased demand for cardiovascular devices.
About the report:
The global cardiovascular devices market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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