Cardiovascular diseases are the leading cause of death across the world. According to the American College of Cardiology, cardiovascular disease (CVD) accounted for 800,000 deaths in the United States, in 2017. Among Americans, an average of one person dies from cardiovascular disease, every 40 seconds. Coronary heart disease (CHD) accounts for the majority of CVD deaths, followed by stroke and heart failure.
According to the European Heart Network, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU), annually. Furthermore, other factors, such as the rapid technological advances and high preference for minimally invasive procedures, are supplementing the market growth.
Key Market Trends
ECG Dominated the Diagnostic and Monitoring Segment
- On the diagnostic and monitoring front, a new generation of portable and compact ECG is driving its greater adoption, especially in the home healthcare segment. There has been an increase in the incidence of cardiovascular diseases (CVD), wherein a long-term ECG monitoring is necessary. Moreover, with the introduction of wireless ECG, doctors can monitor and diagnose the patient remotely on time, which further fuels market growth.
- Furthermore, increasing cardiovascular diseases, such as arrhythmias, stroke, and high blood pressure, are increasing the demand for cardiovascular devices, along with rising awareness and demand for minimally invasive surgeries, which, in turn, are expected to drive the cardiovascular devices market.
United States to Dominate the Market, in Terms of Revenue
- The United States dominates the cardiovascular devices market, owing to the high prevalence of the cardiovascular disease, the high adoption rate of minimally invasive procedures, the presence of reimbursements, rising geriatric population, and the high demand for continuous and home-based monitoring.
- According to the Health Library, it is estimated that about 84 million people in the United States suffer from some form of cardiovascular disease, causing about 2,200 deaths a day, averaging one death every 40 seconds. Furthermore, the ongoing development in the cardiovascular field and technological advancements are expected to propel the growth of the US cardiovascular devices market.
The cardiovascular devices market is consolidated, and it is highly competitive. The major players have established themselves in specific segments of the market. Furthermore, the companies are competing in the emerging regions with global players, as well as with established local players. In countries, such as China and Japan, local players control a significant share of the market studied.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support