The global cardiovascular devices market is expected to register a CAGR of around 6.8% by 2030.
NEW YORK, NEW YORK, USA, October 8, 2022 /EINPresswire.com/ — Research Nester published a report titled “Cardiovascular Devices Market: Global Demand Analysis & Opportunity Outlook 2030” which provides an in-depth overview of the global cardiovascular devices market in terms of market segmentation by products, indications, end-users and region.
Additionally, for the in-depth analysis, the report encompasses industry growth indicators, restraints, supply and demand risks, along with a detailed discussion of current and future market trends associated with the market growth.
The global cardiovascular devices market is expected to grow at a CAGR of approximately 6.8% during the forecast period, i.e., 2022-2030, owing to the increasing prevalence of cardiovascular illnesses, which has led to a growing demand for advanced cardiovascular devices to diagnose and monitor vital signs. Growing reliance of doctors, patients, and others to obtain health information through wearable heart monitoring devices is a major estimate to drive the global market.
The global cardiovascular devices market is segmented by products into diagnostic and monitoring devices and therapeutic and surgical devices. Among these segments, diagnostic and monitoring devices segment is expected to hold the largest share during the forecast period owing to the rising prevalence of cardiovascular diseases across the world, which is expected to drive the demand for monitoring devices technologically advanced cardiac devices on the market.
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Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa, from which the Asia-Pacific market is expected to grow at Highest CAGR through the forecast period due to increasing geriatric population and high prevalence of cardiovascular diseases. Currently, the market in North America holds the largest share. This can be attributed to the presence of major players in cardiovascular devices in the region.
Rising prevalence of cardiovascular diseases and rising adoption of technologically advanced devices to drive market growth
According to the World Health Organization (WHO), the increasing incidence of cardiovascular disease is the number one cause of death worldwide, accounting for 17.9 million deaths each year.
Innovations in devices are expected to support the growth of the cardiovascular devices market. Rising investments in research and development activities by major market players are further expected to drive the growth of the market.
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However, the high price of the devices, which has hampered its installation in hospitals, clinics and ambulatory surgery centers in developing countries and
underdeveloped regions. This is believed to be restraining the growth of the market.
This report also provides the existing competitive scenario of some of the major players in the Global Cardiovascular Devices Market which includes company profiling of GE Healthcare, Abbott Laboratories, Medtronic Plc, Johnson & Johnson, Edwards Lifesciences, Boston Scientific Corporation, Siemens AG, Koninklijke Philips NV, Mindray Bio-Medical Electronics Co., Ltd., Cardinal Health Inc. and others. Profiling contains essential business information, which encompasses an overview of businesses, products and services, key financial data, and recent news and developments. Overall, the report presents an in-depth overview of the Global Cardiovascular Devices Market which will help industry consultants, equipment manufacturers and existing players looking for expansion opportunities, new players looking for opportunity-seeking and other stakeholders to align their market-centric strategies based on current and projected future trends.
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