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The cardiovascular devices market is segmented by Device Type (Diagnostic and Monitoring Devices and Therapeutic and Surgical Devices) and Geography.
Fastest Growing Market:
Cardiovasacular diseases are the leading cause of deaths worldwide. According to the American College of Cardiology, cardiovascular disease (CVD) accounted for 800,000 deaths in the United States in 2017 alone. 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, every year, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU). Furthermore, other factors, such as the rapid technological advances, and high preference for minimally invasive procedures are also supplementing the market growth.
The cardiovascular devices market is segmented on the basis of device type and geography. On the basis of device type, the market is segmented into diagnostic and monitoring devices and therapeutic and surgical devices segments. Diagnostic and monitoring devices is further segmented into electrocardiogram (ECG), remote cardiac monitoring, and other diagnostic and monitoring devices. Similarly, therapeutic and surgical devices segment is subdivided into cardiac assist devices, cardiac rhythm management device, catheter, grafts, heart valves, stents, and other therapeutic and surgical devices.
|By Device Type|
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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 and with the introduction of wireless ECG, doctors can monitor and diagnose the patient remotely on time, which further fuels the 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 are also expected to drive the cardiovascular device market.
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The United States dominates the cardiovascular devices market, owing to the high prevalence of 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, due to ongoing development in cardiovascular field and technological advancements are also expected to propel the growth of the US cardiovascular devices market.
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The cardiovascular devices market is consolidated and 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.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rapid Technological Advancements
4.2.2 Increasing Burden of Cardiovascular Diseases
4.2.3 Increased Preference of Minimally Invasive Procedures
4.3 Market Restraints
4.3.1 Stringent Regulatory Policies
4.3.2 High Cost of Instruments and Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Device Type
5.1.1 Diagnostic and Monitoring Devices
22.214.171.124 Electrocardiogram (ECG)
126.96.36.199 Remote Cardiac Monitoring
188.8.131.52 Other Diagnostic and Monitoring Devices
5.1.2 Therapeutic and Surgical Devices
184.108.40.206 Cardiac Assist Devices
220.127.116.11 Cardiac Rhythm Management Device
18.104.22.168 Heart Valves
22.214.171.124 Other Therapeutic and Surgical Devices
5.2.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.2.4 Middle-East & Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East & Africa
5.2.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Boston Scientific Corporation
6.1.3 Cardinal Health Inc.
6.1.4 Edwards Lifesciences
6.1.5 GE Healthcare
6.1.6 W. L. Gore & Associates, Inc.
6.1.7 Medtronic PLC
6.1.9 Siemens Healthineers AG
6.1.10 Canon Medical Systems Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments