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Shibuya-ku, Tokyo, Japan, Japan, Jan 04, 2022, 00:54 /Comserve / -- Cardiovascular Devices Market is likely to grow at the rate of 16.6% CAGR by 2027
Cardiovascular devices are adopted to diagnose and treat several heart diseases along with associated heart problems. Cardiovascular diseases or CVDs have been determined as the critical pain points of the medical industry. The key reason for mortality and disability worldwide is stroke or IHD (ischemic heart disease). Cardiovascular devices and their prominence in heart-related therapies are rapidly being brought into the limelight. The Cardiovascular Devices Market is likely to grow at the rate of 16.6% CAGR by 2027.
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Escalating demand and awareness on minimally invasive surgeries will propel market growth in the coming years. The key factors which drive the patient preference for minimally invasive procedures are advantages such as reduced risk of infection, small incisions, and relatively less time-consuming. The market is projected to obtain significant growth over the forecast period with the continuous technological developments towards miniaturization, material biocompatibility of implantable, and advanced navigation devices. Further, the increased risk related to cardiac procedures is likely to hamper the cardiovascular devices market growth.
Cardiovascular Devices Market based on Device
• Diagnostic and Monitoring Devices
• Therapeutic and Surgical Devices
• Others
Cardiovascular Devices Market based on Application
• Coronary Heart Disease
• Sudden Cardiac Arrest
• Stroke
• Cerebrovascular Heart Disease
• Others
Cardiovascular Devices Market based on End-User
• Hospitals
• Ambulatory Surgical Centers
• Cardiac Centers
Cardiovascular Devices Market based on Geography
• North America
• Europe
• Asia Pacific
• Rest of the World
As per the market by device, the diagnostic and monitoring devices segment is likely to have major growth in the coming years. This is due to the growing number of local and regional players in the global market contributing to the elevating demand for advanced cardiac device therapeutic purposes. Moreover, under diagnostic and monitoring devices, ECG devices are being majorly used in cardiovascular diseases.
As per the market by application, cardiovascular devices are majorly applicable in coronary heart disease, a segment to hold a largest share in the market. This is due to the presence of the devices that include coronary stents used to treat coronary heart disease, which includes the narrowing of the arteries and may result in other cardiac conditions such as heart attacks.
Further, based on end-users, the prominent end-users having a major role in the market growth are hospitals. This is due to the increasing requirement for trained medical professionals to install vital cardiovascular devices such as stents. In addition, the hospitals are considered to provide medical procedures such as installing stents with minimum adverse reactions in patients.
As per the geographical analysis, North America accounted to acquire a substantial share of the market. The substantial share is ascribed to the key manufacturer’s presence in the region, high incidence of cardiovascular diseases, and Canada, the major factor for the expansion of the market.
Cardiovascular diseases (CVDs) are probable to remain the major cause of morbidity and mortality worldwide. The CVDs are the heart and blood vessels' disorders and include coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions. Therefore, some of the key lifestyle factors that result in cardiovascular disease and difficulties are unhealthy diet, tobacco, and physical inactivity, which increases the risk of heart attacks and strokes. Thus, the above factor is stimulating the global cardiovascular devices market growth.
Few notable vendors of the cardiovascular devices market are Medtronic, Boston, B. Braun Melsungen AG, Becton, Dickinson and Company, General Electric Company, Biosense Webster, Inc (Johnson and Johnson), Scientific Corporation, Abbott Laboratories, Koninklijke Philips N.V, Siemens AG, and Edwards Lifesciences Corporation.
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Henceforth, cardiovascular devices are having a prominent role in the rising number of cardiovascular diseases scenario. Cardiovascular diseases have become most common among individuals, and cardiovascular devices have many benefits, including minimally invasive devices.
• Several factors are included in the study, which is impacting the market growth and restricting the market.
• This report consists of the segmentation and sub-segmentations and the segment’s contribution to the market growth.
• The report also includes the profiles of the key vendors in the market and their strategies, such as product launches, company expansions, and acquisitions.
• Further, the report depicts the penetration of the market in the various regions.
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