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The market is segmented by Device Type (Diagnostic and Monitoring Devices, Therapeutic and Surgical Devices)
The burden of CVD (cardiovascular Diseases) is increasing in India and deaths due to these diseases are on the rise. National Institute of Health has stated that the age-standardized prevalence of CVD in India per 100,000 people was around 5,681 during the year 2016-2017.
It has been observed that the prevalence of heart diseases and stroke in India has increased by 50% from 1990 to 2016. This indicates the rising burden of the diseases on India. During the year 2016-2017, CVD alone contributed to 28.1% of the total deaths in India among which, heart disease caused 17·8% whereas stroke contributed 7·1% of total deaths. Approximately 300,000 angioplasties are done in the country.
Added to that, major cities across the country are having modern private specialty hospitals to give proper treatment for CVD. For instance, Asian Heart Institute in Mumbai, Narayana Hrudulaya in Bangalore and the B. M. Birla Heart Research Centre in Kolkata are having modern facilities to treat CVD. Also, general private hospitals such as Appollo and Fortis along with the hospitals run by government organizations are there in India which are having CVD treatment facilities.
Therefore, it is indicated that the market for CVD in India is growing rapidly due to the rising burden of cardiovascular diseases along with the modern facilities that are available in the country.
The cardiovascular devices are designed to help control various conditions or abnormalities that are associated with the heart. These devices include cardiac rhythm management device, catheters, grafts, heart valves, etc.
|By Device Type|
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In recent years, heart rhythm problems (arrhythmias) have become prevalent and are expected to further experience an increase. According to a study, around 33.5 million people, worldwide, are suffering from atrial fibrillation (AFib), which is the most common type of arrhythmia. In India, around 2.1 million people died due to heart disease during the year 2015-2016. According to the PAN Arrhythmia and Heart Failure Registry (PANARM HF), approximately 15% of the total heart failure patients suffer from atrial fibrillation in India. This is representing an opportunity for cardiac rhythm management devices in India.
Increasing cardiovascular diseases, such as arrhythmias, stroke, and high blood pressure, are increasing the demand for cardiac rhythm management devices across the country.
Cardiac rhythm management (CRM) devices, including pacemakers, implantable defibrillators, cardiac resynchronization therapy, etc., are among the best treatment solutions for Cardiac arrhythmias. The pacemaker implant rate is gradually increasing, in line with the aging population. The technological advancements are leading to increasing adoption of the pacemakers, and one of the recent advancements include the development of a leadless pacemaker that is one-tenth the size of the predecessor devices by Medtronic.
In addition, the adoption rate of cardiac defibrillators and cardiac resynchronization therapies is also growing.
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The market for cardiovascular devices in India is comprised of several global players along with the local players. However, the number of local players in the country is less and the market share is majorly grabbed by global companies such as Abbott Vascular, Boston Scientific, Medtronic, etc. Since India is a growing economy, more global companies are expected to penetrate the market in the coming future.
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 Advances
4.2.2 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 Force 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
126.96.36.199 Electrocardiogram (ECG)
188.8.131.52 Remote Cardiac Monitoring
184.108.40.206 Other Diagnostic and Monitoring Devices
5.1.2 Therapeutic and Surgical Devices
220.127.116.11 Cardiac Assist Devices
18.104.22.168 Cardiac Rhythm Management Devices
22.214.171.124 Heart Valves
126.96.36.199 Other Therapeutics and Surgical Devices
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Boston Scientific Corporation
6.1.3 GE Healthcare
6.1.4 W. L. Gore and Associates
6.1.5 Medtronic Plc
6.1.6 Siemens Healthineers
6.1.7 Terumo Corporation
6.1.8 Canon Medical Systems
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments