September 06, 2022 08:44 ET | Source: Growth Plus Reports Growth Plus Reports
Pune, Sept. 06, 2022 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global Cardiovascular Devices Market is expected to clock at US$ 97.48 billion by 2030 and to grow at a CAGR of 6.5% during the forecast period. Owing to increased cardiovascular disease prevalence and the adoption of technologically advanced products. This exclusive information is published by Growth Plus Reports in its report titled “Cardiovascular Devices Market – Global Outlook & Forecast 2022-2030”
Cardiovascular Devices Market Report Scope & Strategic Insights:
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The increasing cardiovascular disease incidence globally requires technologically advanced equipment to diagnose and monitor the condition, to provide the best patient care, and for better life quality. This augments the demand and thus pushes the market growth forward. Furthermore, an increase in product approvals and efforts of key players to market economical devices are also contributing to cardiovascular devices market growth.
The global cardiovascular devices market has been analyzed from four different perspectives – device type, application, end-user, and region.
Excerpts from ‘By Device Type Segmentation’
The global cardiovascular devices market has been segmented into:
It has been analyzed that the diagnostics and monitoring segment dominates the market. Especially, the diagnostic devices in which ECG holds the majority of the market share. Additionally, event monitors make it possible to save data, which greatly increases the penetration of these systems into point-of-care and at-home healthcare applications.
Pacemakers, stents, catheters and accessories, guidewires, cannulae, electrosurgical procedures, valves, and occlusion devices are additional categories for the surgical devices market. Among other surgical devices, the stents segment held the biggest market share. The main factor behind dominant position of stents segment is physician preference for stenting over bypass procedures. Stents are being used more often to treat coronary artery disease as a result of expanding demand for minimally invasive procedures.
Excerpts from ‘By End User Segmentation’
Based on the end user, the global cardiovascular devices market has been bifurcated into:
The hospital segment dominates the market because of the presence of highly advanced equipment for a huge scope of diagnostic and surgical procedures and the presence of highly skilled medical professionals. Specialty clinics, however, are projected to observe a high growth rate in the forecast period. As there would be favorable reimbursement policies, increased adoption at an individual practice level is expected.
Excerpts from ‘By Region Segmentation’
The global cardiovascular devices market has been segmented into:
Japan is likely to lead the entire Asia Pacific market, followed by China, as the region is expected to have the quickest development over the forecast period. Due to sedentary lives and poor eating habits, China is thought to have the biggest population of elderly people worldwide and the greatest obesity rates. These elements are anticipated to make heart disorders more common in this nation, which will benefit the expansion of the Asia Pacific market. Additionally, it is anticipated that the developing medical tourism sector in this region will increase demand for cardiovascular systems in nations like Japan, China, Malaysia, Thailand, and India. Also, government initiatives to control the cost of products is likely to support market growth.
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The prominent players operating in the global cardiovascular devices market are:
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