Cardiovascular Devices Market Will Reach To $121 Billion By 2024: Grand View Research, Inc.
Global cardiovascular devices market is anticipated to
reach USD 121 billion by 2024, according to a new report by Grand View
Research, Inc. Increasing geriatric population, sedentary life style coupled
with unhealthy dietary habits is spurring the prevalence of cardiovascular
diseases. Constant rise in the patients suffering from cardiovascular diseases
and is expected to drive market growth during the forecast period.
Governments are trying to limit hospital readmissions to
reduce the prevalence of hospital acquired infections (HAIs) by imposing
penalties on hospitals. As a result, adoption of home healthcare, remote
patient monitoring, and long term care services is rapidly increasing. Thus,
demand for cardiovascular devices is increasing from hospitals, patients based
in home settings, and long term care centers.
In addition, favorable government policies such as
reimbursement coverage are fueling adoption of these devices. Thus, increasing
target patient population, rising acceptance of home healthcare, and favorable
government policies are some of the major factors driving the growth of the
global cardiovascular devices market.
On the other hand, high device cost and stringent regulatory
approval procedure are some of the prime factors challenging the growth of the
market. In addition, lack of skilled professionals to perform surgical
procedures using advanced devices is impeding the adoption of new devices.
Browse full research report on Global Cardiovascular Devices Market: http://www.grandviewresearch.com/industry-analysis/cardiovascular-devices-market
Further key findings from the study suggest:
- Availability
of minimally invasive surgical devices coupled with high surgical cost is
resulting in higher revenue share of surgical devices. As a result,
surgical devices segment dominated the overall market in 2015.
- Diagnostics
and monitoring device segment is anticipated to grow at the fastest growth
rate of 8.4% during the forecast period. Government initiatives to promote
early diagnosis of the diseases, increasing adoption of home healthcare
services and long term care centers is primarily affecting the growth of
diagnostic and monitoring segment positively.
- North
America dominated with market share of 42.3% of the global market in 2015.
Presence of large pool of target population, reimbursement coverage and
high adoption rate for advanced treatments are some of the factors driving
the growth of the cardiovascular devices market in North America.
- Furthermore,
favorable government policies and presence of well-defined regulatory
framework are some of the factors augmenting the market growth in North
America.
- Asia
Pacific is anticipated to register significant growth during the forecast
period. Growth of the region would primarily attribute to anticipated rise
in geriatric population prone to cardiac diseases and booming medical
tourism in Asia Pacific.
- Moreover,
presence of rapidly developing countries such as India and China are
expected to render positive growth to the Asia Pacific market. Government
initiatives to improve healthcare infrastructure, increasing healthcare
expenditure and increasing demand for advanced healthcare facilities are
some of the factors anticipated to push the market in India and China
towards swift growth.
- Major
players contributing to the global market include, Medtronic plc, Becton
Dickinson and Company, Cardinal Health, Inc., Boston Scientific
Corporation, B. Braun Melsungen AG and Abbott Laboratories, Inc., Cook
Medical, Inc., Terumo Cardiovascular Systems Corporationand St. Jude
Medical, Inc.
- Competition
among the key players would depend upon several factors included but not
limited to manufacturing capacity, strong distribution network, pricing
strategy and product innovation
Browse more reports of this category by Grand View
Research:
http://www.grandviewresearch.com/industry/medical-devices
http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the cardiovascular devices
market on the basis of product and region:
Cardiovascular Devices Market, by Product, 2013 - 2024
(USD Billion)
- Diagnostic
and monitoring devices
- ECG
- Holter
monitors
- Event
monitors
- Cardiovascular
diagnostic catheters
- Implantable
loop recorders
- Echocardiogram
- PET
scan
- MRI
- Cardiac
CT
- Myocardial
Perfusion Scans
- Doppler
fetal monitor
- Others
- Surgical
devices
- Pacemakers
- Stents
- Catheters
and accessories
- Guidewires
- Cannulae
- Electrosurgical
procedures
- Valves
- Occlusion
devices
- Others
Cardiovascular Devices, by Region, 2013 - 2024 (USD
Billion)
- North
America
- U.S.
Cardiovascular Devices Market, by Product
- Canada
Cardiovascular Devices Market, by Product
- Europe
- Germany
Cardiovascular Devices Market, by Product
- U.K.
Cardiovascular DevicesMarket, by Product
- Asia
Pacific
- China
Cardiovascular Devices Market, by Product
- India
Cardiovascular Devices Market, by Product
- Latin
America
- Brazil
Cardiovascular Devices Market, By Product
- Mexico
Cardiovascular Devices Market, By Product
- MEA
- South
Africa Cardiovascular Devices Market, By Product
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-cardiovascular-devices-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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