Global Cardiovascular DevicesMarket Outlook

The cardiovascular devices market is anticipated to grow with a CAGR of ~7% over the forecast period of 2019-2028. According to a study published by Insure Insights on the cardiovascular devices market, the rising geriatric population across the globe, the increasing number of cardiovascular diseases, and growing trends leading to unhealthy lifestyles are some major driving factors anticipating the growth of the market. Additionally, the increasing prevalence of atherosclerosis and growing investments from various institutions for improvement in the healthcare infrastructure across the globe is expected to drive the market extensively in the future.

Top Driver: GrowingPrevalence of Cardiovascular Disease and technological Advancementare Driving the Cardiovascular DevicesMarket
Cardiovascular diseases (CVDs) are defined as a group of disorders of the heart and blood vessels that include peripheral arterial disease, coronary heart disease, cerebrovascular disease, congenital heart disease, rheumatic heart disease, deep vein thrombosis, pulmonary embolism, and others. Cardiovascular diseases are mainly caused due to factors such as regular intake of an unhealthy diet, obesity, physical inactivity, etc. Also, consumption of tobacco & alcohol may increase the risk of cardiovascular diseases extensively. Therefore, to rectify these diseases, various cardiovascular devices are being used for diagnostics and treatment which is, in turn, a growth factor for the market. Furthermore, the increasing number of the geriatric population is widely affected by cardiac diseases. As a result, this population is positively impacting the growth of the cardiovascular market.
According to estimates provided by the World Health Organization (WHO), more than 17.9 million people died from CVDs in 2016, which was around 31% of all global deaths during the year, out of which 85% are due to heart attack and stroke. Additionally, various companies are investing in the development of new and advanced products. Furthermore, the increase in technological advancement and the development of new devices to overcome the impact of the disease is driving the market.

Hospitals to Make Crucial Contribution to the Growth of Global Cardiovascular Devices Market
Based on the end-users the cardiovascular devices market has been segmented as hospitals, specialty clinics, and others. The hospital segment holds the largest share in the end-user segment for the cardiovascular device market due to the presence of well-equipped facilities, presence of expertise, and high investments for the adoption of advanced technology that is leading the market growth. Further, the increase in cardiac patients and an increase in surgeries are also fueling the growth of the hospital segment.

Based on device type, the global cardiovascular devices market has been segmented as diagnostic and monitoring devices and therapeutic & surgical devicesThediagnostic and monitoring devices hold the largest share for the device type segment as these devices are primarily used for diagnosing and monitoring of the patients before and after the surgery.
EstablishedHealthcare Industry in North America is Driving the Market
North America has well-developed facilities and infrastructure. Additionally, the presence of countries such as the US and Canada which have major healthcare companies and well-established hospitals, clinics, and other healthcare manufacturing units are leading to drive the growth of the market. Additionally, a rise in the prevalence of lifestyle disorders in the region is also considered as another factor that is influencing the growth of the market.

Players to Focus on Development of New Technology Industry
The global Cardiovascular Devices market is expected to grow with a significant CAGR due to the presence of various companies including Medtronic plc, Becton, Dickinson and Company, Cardinal Health, Inc., Cook Medical, Inc., Terumo Cardiovascular Systems Corporation, St. Jude Medical, Boston Scientific Corporation, B. Braun Melsungen AG, Abbott Laboratories, Inc., Inc., Edwards Lifesciences and others which are developing new devices to drive the market growth.
Medtronic Plc: Medtronic plc launched a mobile app named as MyCareLink Heart for linking a list of pacemakers that can have communication with the patients smartphone directly.
Biotronik: In October 2019 Biotronik launched PK Papyrus Covered Coronary Stent in the US for acute coronary perforations during emergencies and treatment.

Scope of the Report
By Device Type
Diagnostic and Monitoring Devices
Therapeutic and Surgical Devices

By Application
Coronary Artery Disease (CAD)
Cardiac Arrhythmia
Heart Failure
Others

By End-User
Hospitals
Specialty Clinics
Others

By Region
North America
Europe
Asia Pacific
Rest of the World

Key Reasons to Purchase this Report
1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders a definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.