Abbott Vascular, Boston Scientific Corporation and Cordis in the Growth of the Global Cardiovascular Devices Market
HYDERABAD, India, September 30, 2016 /PRNewswire/ --
Mordor Intelligence announces the publication of their research report on the cardiovascular devices market. The report titled, "Global Cardiovascular devices Market - Growth, Trends and Forecast," discusses the current landscape and outlook of the market.
The global cardiovascular devices market is estimated to be USD XX billion in 2016 and is expected to reach USD XX billion by 2021, while recording a CAGR of XX% during the forecast period. The report is an amalgamation of the current market scenario, its future prospects, and forces driving the market as well as those that are restraining the growth of the market along with the key market players. It highlights the market geographically in North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
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:
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