HYDERABAD, India, September 30, 2016 /PRNewswire/ --
Mordor Intelligence announces the publication of their research
The global cardiovascular devices market is estimated
According to American Heart Association, cardiovascular disease is the leading global cause of death, accounting for 17.3 million deaths per year, a number that is expected to grow to over 23.6 million by 2030. This rise in cardiovascular diseases is expected to drive the demand for the cardiovascular devices.
In recent years, cardiovascular devices market grew at a considerable rate owing to factors such as rapid technological advances, increased awareness, increased preference of minimally invasive procedures over conventional surgeries and emerging economies. The opportunities in this market are increasing product launches and increase in mergers and acquisitions. However, lack of skilled professionals to operate devices, stringent regulations & legislations and high device costs are the market challenges. Massive untapped markets in the emerging countries have immense potential.
The global cardiovascular devices market can be segmented based on type (Cardiac Rhythm Management Devices, Interventional Cardiac Devices, Automated External Defibrillators (AED), Cardiac Ablation Catheters, Cardiac Pacemakers, Cardiac Angioplasty Devices, Implantable Cardioverter Defibrillators (ICD), Prosthetics (Artificial) Heart Valves, Stents and Ventricular Assist Devices), by technology (Cardiopulmonary Bypass products, Minimally Invasive Cardiac Surgery, Valve Prosthesis & Repair and Cardiac Assist Devices).
Stents hold a prominent share in its segment due to rising demand for minimally invasive surgeries (MIS) for the treatment of coronary artery disease. North America has the highest market share in 2015, owing to increasing adoption for advanced surgical treatments and presence of large pool of target population. U.S takes first position followed by Canada in North America. Asia-Pacific represents fastest growing region in global cardiovascular devices due to increasing geriatric population and increasing awareness about various cardiovascular devices. The leading companies that dominate the cardiovascular devices market are Abbott Vascular, Boston Scientific Corporation, Cordis, Edwards Life Science, GE Healthcare, Gore Medical, Medtronic, Numed, SIEMENS Healthcare, St. Jude Medical, Toshiba and others.
About Mordor Intelligence:
Mordor Intelligence is a global market research and consulting firm. Our focus is to provide research insights to facilitate business success. Our research expertise covers niche segments under Agriculture, Healthcare, ICT, Chemicals, Manufacturing, Logistics, Electronics and Automotive, among others. We believe in data, and we provide solutions through it. Optimum solutions and goal-oriented strategies define our endeavors and make us the preferred choice for clients.
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SOURCE Mordor Intelligence
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