The Global Cardiovascular Application Market is expected to grow at a CAGR of 7.24% during the forecast period 2017-2023.
During the last few years, there is a significant increase in the demand for cardiovascular devices. According to the World Health Organization (WHO), in 2015, over 17.7 million people died from cardiovascular diseases, representing 31% of all global deaths. According to the findings from the WHO, in 2015, 82% of the total deaths occurred were in the low- and middle-income countries. Additionally, according to the Centers for Disease Control and Prevention (2015), over 630,000 Americans die from heart disease each year, which accounts for 1 in every 4 deaths.
The global cardiovascular application market is expecting a sound growth in coming future owing to the increasing demand for the various cardiovascular devices, increasing prevalence of cardiovascular diseases, and favorable reimbursement policies. Mostly all diabetic patients suffer from some or the other cardiovascular disease. According to findings from the WHO in 2014, approximately 422 million people suffered from diabetes. Due to the increasing diabetic population across the globe there is a significant increase in the number of people suffering from cardiovascular diseases.
Additionally, increasing geriatric population and increasing healthcare expenditure have fuelled the growth of the market. However, the cardiovascular devices manufacturers need to follow the rules stated by FDA and have to compliance with policies and procedures related to the manufacturing of these devices. Strict regulatory rules and high cost of the devices may slow the growth of the market during the forecast period.
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Key players in the Global Cardiovascular Application Market:
Some of the major players in this market are Abbott (U.S.), General Electric Company (U.S.), Medtronic (Ireland), Boston Scientific Corporation (U.S.), KONINKLIJKE PHILIPS N.V. (The Netherlands), Terumo (Japan), Stryker Corporation (U.S.), Edwards Lifesciences (U.S.), Allergan Inc. (U.S.), Smith & Nephew plc (U.K), CR Bard Inc. (U.S.), Sonova Holdings (Switzerland), and Dragerwerk AG & Co. KGa (Germany)
The global cardiovascular application market has been segmented on the basis of devices and end users.
On the basis of the devices, the global cardiovascular application market is segmented into the cardiac pacemaker, defibrillators, monitors, and others. The cardiac monitors are further segmented into resting ECG, ECG monitors, holter monitors, implantable loop recorder, and others. The cardiac pacemaker are further segmented into implantable cardiac pacemaker, and external cardiac pacemaker. Implantable cardiac pacemaker are subsegmented into single-chamber pacemakers, dual-chamber pacemakers, and biventricular pacemakers. The cardiac defibrillator is further categorized into implantable cardioverter defibrillator, and external defibrillator.
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On the basis of the end users, the market is segmented into cardiac care centers, ambulatory centers & home care, academic institutes, and others.
- The Global Cardiovascular Application Market is growing at a growth rate of 7.24% during the forecast period 2017-2023. Increasing prevalence of the cardiovascular diseases, increasing geriatric population, and technological advances are some of the major factors responsible for market growth
- The market is categorized into number of different cardiovascular devices. The category of cardiac monitors holds the major share in the market.
- General Electric Company, Koninklijke Philips N.V, Abbott, and Medtronic are some of the prominent market players in the cardiovascular application market
The report for Cardiovascular Application Market of Market Research Future comprises extensive primary research along with the detail analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions.
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