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Sweden Cardiovascular Devices market is segmented By Device Type (Diagnostic and Monitoring Devices, and Therapeutic and Surgical).
The cardiovascular devices market in Sweden is expected to grow at a 6.1% CAGR during the forecast period, 2020 - 2025. The increasing morbidity and mortality of cardiovascular diseases are one of the major contributors to this market. According to the National Board of Health and Welfare, 2018, almost 33% of the deaths occurred in Sweden were due to cardiovascular diseases. Hence, early diagnosis and treatment are of utmost importance in the case of cardiovascular diseases. Furthermore, technological advancements that are coming up related to cardiovascular health management is also expected to impact the market positively. In 2017, Coala Life received a grant from the Swedish Government Agency for developing an AI-based system that will help in detecting the cardiac diseases at early stages. Hence, it is expected to boost market growth over the forecast period in Sweden.
Cardiovascular devices are utilized to treat cardiovascular ailments that incorporate various issues such as atherosclerosis, arrhythmia, coronary artery disease, stroke, etc. The Cardiovascular Devices Market is segmented by device type.
|By Device Type|
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Cardiac rhythm management (CRM) devices, including pacemakers, implantable defibrillators, cardiac resynchronization therapy, etc., are one of the majorly used devices in case of cardiac arrhythmia. The rising number of the aging population in Sweden is expected to act as a key contributor in this segment. According to the data by the Organisation for Economic Co-operation and Development, around 19.86 % of the total population constitutes for the older population. Aging affects the cardiovascular system and thereby might acquire cardiac arrhythmia. According to a study carried out in Sweden by Gerontology and Geriatric Medicine, in 2019, around 4.9% of the elderly people were found to be prevalent with arterial fibrillation and around 8.9% had other kinds of arrhythmias such as ventricular premature complexes, supraventricular tachycardia, and supraventricular extrasystole. Thus, with the growing burden of the aging population and associated heart diseases, it is expected to influence positively the market growth.
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The major players in the market are Abbott Laboratories, Boston Scientific Corporation, Cardinal Health Inc., Edwards Lifesciences, GE Healthcare, W. L. Gore & Associates, Inc., Medtronic PLC, Biotronik and Siemens Healthineers AG. Some of the local players are partnering with global players so as to develop new products in the market. For instance, in 2017, Coala Life which is a Swedish based company partnered with Bayer AG digital cardiac monitoring to help patients with undiagnosed heart diseases to treat and avoid complications such as stroke and myocardial infarction.
1.1 Study Assumptions
1.2 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 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
18.104.22.168 Electrocardiogram (ECG)
22.214.171.124 Remote Cardiac Monitoring
126.96.36.199 Other Diagnostic and Monitoring Devices
5.1.2 Therapeutic and Surgical Devices
188.8.131.52 Cardiac Assist Devices
184.108.40.206 Cardiac Rhythm Management Device
220.127.116.11 Other Therapeutic and Surgical Devices
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Boston Scientific Corporation
6.1.4 Cardinal Health
6.1.5 GE Healthcare
6.1.6 W. L. Gore & Associates, Inc.
6.1.7 Medtronic PLC
6.1.9 Siemens Healthineers AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments