Cardiovascular Devices Market Progresses for Huge Profits During 2020 to 2027

"The global cardiovascular devices market accounted to US$ 40.8 Bn in 2018 and is expected to grow at a CAGR of 6.5% during the forecast period 2020 - 2027, to account to US$ 71.1 Bn by 2027." Asia Pacific is the fastest growing geographic market and it is expected to be the fastest revenue contributor throughout the forecast period. Asia Pacific is recognized as a developing market for the medical devices. The growth is driven by the factors such as rise in the cardiovascular diseases in the countries across the region and the developments in the healthcare systems and industries, rise in the applications for the product approval in China, rise in programs among the others.

Significantly Increasing Prevalence of Cardiovascular Diseases

Cardiovascular diseases (CVDs) are likely to remain the largest cause of morbidity and mortality across the world. The CVDs are the disorders of the heart and blood vessels and include cerebrovascular disease, coronary heart disease, rheumatic heart disease and other conditions. Some of the major lifestyle factors which leads to the cardiovascular disease and difficulties are use of tobacco, unhealthy diet, and physical inactivity increases the risk of heart attacks and strokes.

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Company Profiles

o Medtronic, Boston
o Scientific Corporation
o Abbott
o Biosense Webster, Inc (Johnson and Johnson)
o General Electric Company
o Koninklijke Philips N.V
o Siemens AG
o BD
o B. Braun Melsungen AG
o Edwards Lifesciences Corporation

Whereas, the other risk factors for the cardiovascular diseases are high blood pressure, diabetes, increased level of cholesterol levels. CVDs are among the top ten leading causes of death across the world, it affects more people as compared to any other disease. According to the World Health Organization, cardiovascular diseases are number one cause of the death across the world. As per WHO data published in 2017, states that, in 2016, approximately 17.9 million people died from CVDs, which was 31.0% of all the global deaths. Thus, owing to the factors the market is likely to grow during the forecast period.

Growth Opportunities in The Developing Nations

The rise in the cardiovascular conditions are rising across the globe, the prevalence is significantly rising in the countries of the developing nations. The incidences are rising due to the shift in the lifestyle and the other health conditions sue to the change in the adoption of the modernized facilities. The modernized facilities reduced the physical activities, the stress level among the people are also rising. Thus, these factors are leading to the cardiovascular conditions and is leading to the rising demand for the cardiovascular devices.

The developing nations are significantly developing their healthcare facilities and services and are heading towards the technological advancements. For instance, structural heart is at initial stage of the development in the regions like Asia Pacific and Middle East and Africa. For instance, in India Kim hospital provides services for the structural heart in the south Indian region. Hence, the emerging nations are likely to favor the growth of the market.

End User Insights

The global cardiovascular devices market by end user segments was led by hospitals segment. In 2018, the hospitals held a largest market share of 61.9% of the cardiovascular devices market, by end user. This segment is also expected to be the fastest growing segments the market in 2027 owing to advancements in the infrastructures of hospitals, offering various services and facilities and others.

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This release was published on openPR.