A factsheet published by the WHO states that about 17.5 mn people die due to cardiovascular diseases every year, which is about 31% of the deaths across the globe. It further adds that about 75% of these deaths occur in low- or middle-income groups and 80% out of these are because of strokes or heart attacks. These alarming statistics are the obvious reason for growth of the global cardiovascular surgery devices market.
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The report published by Transparency Market Research on the global cardiovascular surgery devices market offers an in-depth analysis of the elements governing this market. It evaluates the strengths, weaknesses, opportunities, and threats with the help of a SWOT analysis. Furthermore, it also uses a Porter’s five forces analysis to determine the threat from new entrants, threat of new entrants, threat of substitute products or services, bargaining power of customers (buyers), bargaining power of suppliers, and intensity of competitive rivalry. With a holistic outlook on the scheme of things in the global cardiovascular surgery devices market, the report aims to help the readers gain a clearer perspective on the upcoming developments.
Overview of the Global Cardiovascular Surgery Devices Market
The global cardiovascular surgery devices market has been witnessing an upward swing as the world reels under the growing pressure of cardiovascular diseases. In addition to this, as the healthcare sector continues its search for minimally invasive procedures with the most technologically advanced tools, it remains the key driver for this market. The growing pool of elderly people is expected to be the main contributor to the bright future of the global cardiovascular surgery devices market. This demographic has exhibited increasing incidence of cardiovascular diseases, which will propel this market at a double-digit growth rate in the forecast period. The growing number of cardiac surgeries are also attributable to the poor nutrition, stressful lives, obesity-related issues, and other health problems prevalent in the modern world that eventually lead to cardiovascular diseases.
The global cardiovascular devices market is segmented on the basis of product type into perfusion disposables, beating heart surgery systems, cardiopulmonary bypass equipment, and cardiac ablation devices. These devices are used depending on the type of surgery and the purpose of the surgery. In the coming years, these cardiovascular devices will play an important role in improving the quality of life of the increasing geriatric population, along with others who have dysfunctional hearts. This market will also be augmented by the increasing investment from government bodies and private companies to curb the rising prevalence of the cardiovascular diseases and related procedures across the globe.
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Companies Mentioned in the Global Cardiovascular Devices Market Report
Some of the important players in the global cardiovascular surgery devices market are Medtronic Inc., MAQUET GmbH & Co. KG, Sorin Group, Terumo Corporation, C. R. Bard Inc., SEMMT Inc., Cardima Inc., Edwards Lifesciences, EndoPhotonix Inc., CyberHeart Incorporated, Kardium Inc., St. Jude Medical, MedWaves Incorporated, and others.
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