The cardiovascular devices market is expected to exceed owing to the high adoption of innovative devices with growing disease prevalence. Numerous initiatives are being taken by the government to expand existing healthcare infrastructure. While fundings are been made to accelerate R&D activities in the field of cardiovascular medicine. Rising hospital admissions for heart stroke and growing geriatric population base can offer multiple opportunities to cardiovascular device manufacturers.
Increasing geriatric population along with the adoption of unhealthy routine habits worldwide may lead to surge in number of patients suffering from cardiac procedures. The mounting demand for minimally invasive procedures that offer plentiful benefits will create the necessity for advanced cardiovascular devices.
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According to the National Institute of Aging, people aged around 65 years and older are at higher risk of sudden heart attack, coronary heart diseases, and strokes. Growing success rates, improved outcomes, and patient satisfaction connected with the use of technologically advanced devices in comparison with drug therapy for such patients will thus lead to rapid product adoption for faster patient recovery. A large number of patients are now adopting advanced treatment procedures.
Rising technological advancements and novel product launches in cardiovascular devices will also play a major role in boosting industry scenario. The need to optimize lesion formation by using ablation catheters with contact force-sensing has boosted product adoption. Major industry players are developing products that meet consumer’s preference towards slightly invasive cardiovascular measures whilst improving efficiency and offering effective treatment outcomes. For instance, the U.S. FDA has approved Boston Scientific Corporation’s new device that is used on patients with non-valvular atrial fibrillation to reduce the risk of stroke.
As per a report published by Global Market Insights, the Germany cardiovascular devices market is expected to witness a 16.9% CAGR during the forecast period. Rising geriatric population base will be a major contributing factor to the country’s national disease burden. The national economy is currently focusing on developing healthcare infrastructure facilities due to the current pandemic situation. Additionally, there is a growing focus by major regional manufacturers on new product development that is expected to bolster the growth of Germany cardiovascular devices market in the coming years.
Some of the prominent players functioning in the global cardiovascular devices industry include Boston Scientific Corporation, Biosense Webster (Johnson & Johnson), Medtronic plc, Abbott Laboratories (St. Jude Medical), and other players. Market players are executing various strategies including product innovations and partnerships to gain a notable presence in the industry.
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Partial Chapter of the Table of Content
Chapter 2 Executive Summary
2.1 Cardiovascular devices industry 3600 synopsis, 2016 – 2027 (USD Million)
2.1.1 Business trends
2.1.2 Device type trends
2.1.3 End-use trends
2.1.4 Regional trends
Chapter 3 Cardiovascular Devices Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016- 2027 (USD Million)
3.3 Industry impact forces
3.3.1 Growth drivers
22.214.171.124 Increasing number of patients suffering from cardiovascular diseases
126.96.36.199 Growing geriatric population contributing to global cardiovascular disease burden
188.8.131.52 Increasing government initiatives
184.108.40.206 Technological advancements in cardiovascular devices
220.127.116.11 Rising demand for minimally invasive procedures
3.3.2 Industry pitfalls and challenges
18.104.22.168 High risk associated with cardiac procedures
22.214.171.124 Stringent regulatory scenario
3.4 Growth potential analysis
3.4.1 By device type
3.4.2 By end-use
3.5 COVID-19 impact analysis
3.6 Market size by approach, 2016 – 2027 (USD Million)
3.6.1 Cardiac ablation devices market
126.96.36.199 North America
188.8.131.52 Asia Pacific
184.108.40.206 Latin America
3.6.2 Left atrial appendage devices market
220.127.116.11 North America
18.104.22.168 Asia Pacific
22.214.171.124 Latin America
3.7 Regulatory landscape
3.8 Porter’s analysis
3.9 Competitive landscape, 2020
3.9.1 Company matrix analysis
3.10 PESTEL analysis