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Cardiology & Cardiovascular Devices Growth: Global Market Research Report:
Journal of Perioperative Medicine

Journal of Perioperative Medicine
Open Access

ISSN: 2684-1290

+44 20 3868 9735

Market Analysis - (2021)Volume 4, Issue 2

Cardiology & Cardiovascular Devices Growth: Global Market Research Report:

Suresh Vatsyayann*
 
*Correspondence: Suresh Vatsyayann, Royal New Zealand College of General Practitioners, New Zealand, Email:

Author info »

Abstract

   

This market research report on the cardiology & cardiovascular devices provides the clear picture on the various business sectors in the field of recent development of devices. It also provides market forecasts for the upcoming years. The report profiles some of the leading players in the global market for the purpose of an in-depth study of the challenges faced by the industry as well as the growth opportunities in the market. The global cardiovascular therapeutics market is expected and all set to grow and see rapid innovation with the introduction of novel drugs and devices entering the market. According to our market research, diabetes is one of the influential and major factors leading to the modern cardiovascular disease becoming more prevalent.

The global market for cardiovascular devices reached nearly $42.4 billion in 2017 and should reach $59.1 billion by 2022, at a compound annual growth rate (CAGR) of 6.9% for the period of 2017-2022. The cardiovascular surgical devices measured are interventional cardiology devices like stents, angioplasty balloons, catheters and accessories, guide wires, cannulae, and valves; cardiac rhythm management devices like implantable cardiac defibrillators (ICD), pacemakers and leads; cardiac assist devices (CAD) like ventricular assist devices, cardiac resynchronization therapy (CRT) devices, intra-aortic balloon pump, total artificial heart; and other vascular surgery devices like endovascular grafts, IVC filters and occlusion devices. The major cause of death across the globe is the cardiovascular diseases. It accounted for 17.3 million deaths in 2015 and is further anticipated to claim 23.6 million lives in 2030 (according to estimation by the World Health Organization). The International Diabetes Federation has projected that approx. 415 million people were diabetic in 2015 and is expected rise to 642 million worldwide by 2040. By 2020, the global spending on diseases such as cardiovascular diseases, cancer, and respiratory diseases is expected to reach $4 trillion. The global interventional cardiology market was projected at $14.69 billion in 2017 and is anticipated to reach $24.96 billion by 2027.

Equation

North America is the leading contributor to the global interventional cardiology market. The Asia-Pacific is expected to grow at a CAGR of 7.12% in the forecast period 2018-2027. The global interventional cardiology market for innovative devices is majorly dominated by United Stated followed by the European players.

Based on the (CRM) devices market analysis, this market will grow at a CAGR of almost 8% by 2021. The adoption rate of congestive heart failure drugs market will grow at a CAGR of more than 10% by 2022. The systemic hypertension drugs market is anticipated to reach more than USD 27 billion by the end of 2020. The global hypertension drugs market is predicted to have a remarkable market value of USD 32 billion by the end of 2020. According to the angina pectoris drugs market analysis, the market analysts estimate that the market will grow steadily at a CAGR of about 4% by 2021. The cardiac prosthetic devices industry analysis, this market will grow steadily at a CAGR of almost 14% by 2021. Overview of the global cardiac monitoring market shows that it will grow steadily at a CAGR of more than 8% by 2021. The global cardiovascular training equipment market will grow steadily at a CAGR of more than 4% over the forecast period of 2016-2022. The global POC cardiovascular diagnostic market is estimated to reach over USD 1.3 billion by 2022. Global Cardiovascular Information System market will grow at a CAGR of 7.90 percent over the period 2019-2023.

Market Analysis Cardiology & Cardiovascular Devices in Germany:

Germany is Europe’s largest market for medical devices, accounting for roughly $41 billion annually. US exporters hold a 28-30% share of import market from Germany. The German medical device market has been raised by 4.2% in 2018 and is estimated to grow continually at 4-6% growth rates through 2021. The estimated German medical device market will grow a 2018-2023 Compound Annual Growth Rate of 7.1%. Global cardiac surgical devices market accounted for $1,700 million in 2016, and is estimated to reach $2,124 million by 2023, growing at a CAGR of 3.2% during the analysis period (2017-2023).

Equation

The global interventional cardiology devices and equipment market reached a terrific sales point at about $8.58 billion in 2018 and is estimated to grow to $10.27 billion at a CAGR of 4.6% through 2022. Major companies in the cardio device market are GE Healthcare, Abbott Laboratories, Boston Scientific Corporation, Medtronic, and Johnson & Johnson.

The growth in the interventional cardiology devices and equipment market is being driven by an increase in cardiovascular diseases. Cardiovascular diseases are the health problems which are associated with the blood vessels, circulatory system as well as heart. The exponential rise in cardiovascular diseases has become the main reason for the rise in healthcare expenditure which in turn increased the medical equipment market which further increases the growth in the interventional cardiac devices and equipment market. Cardiovascular diseases accounted for 17.3 million deaths in 2015 and further claims to be increased to 23.6 million deaths by 2030 according to the estimate provided by World Health Organization.

CVD has become the basic cause of death globally, and is responsible for over 17 million deaths annually. Hence it has become important to do market analysis which includes a discussion of various products, current and projected markets, competitors, and opportunities in the global diagnostic and guided interventional cardiology products market, which includes the equipment such as trans catheter angiography, guide wire-based intravascular stenosis assessment, intracardiac echocardiography (ICE), intravascular ultrasound (IVUS), optical coherence tomography (OCT), and robotic-assisted surgical systems. Global sales are projected to expand at a compound annual growth rate (CAGR) of 6.4% during 2016-21, increasing from approximately $3,491.3m in 2016 to an estimated $4,761.4m in 2021. Countries/regions covered in this report include the UnitedStates, five major European markets (France, Germany, Italy, Spain, and the UK), Japan, and the Rest of the World segment (which combines estimated sales data for all other countries).

Highlights:

• Diagnostic interventional cardiology products are being utilized less frequently in the preoperative work-up of patients with suspected cardiovascular disease. These technologies are primarily utilized to guide minimally invasive therapies (eg stenting).

• Angiography devices, including cardiac X-ray systems and transcatheter devices, accounted for 59% of total product sales in 2016. Sales of ICE and OCT systems are expected to experience the strongest growth throughout the forecast period (2016-21).

• The market for diagnostic and guided interventional cardiology devices is anticipated to experience moderate growth during the forecast period, increasing to an estimated $4.8bn by 2021.

• In Unites States, the market of diagnostic and guided interventional cardiology devices has been accounted for approximately 35% of all sales, followed by five major European markets.

Author Info

Suresh Vatsyayann*
 
1Royal New Zealand College of General Practitioners, New Zealand
 

Published: 27-Mar-2021

Copyright: This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.