The growing number of heart-related diseases and aging population are expected to drive the market for interventional cardiology devices, pacemakers, defibrillators, catheters, and other cardiovascular devices. The Global Cardiovascular Device market is expected to reach an estimated US $104 billion in 2017 with a CAGR of 5.2% over the next five years.Lucintel’s research indicates Asia accounts for nearly half of all new cancer cases in the world. The growing middle class population, increase in GDP, government support, and increase in per capita income is expected to drive the demand for cardiovascular devices in Asia, especially China, India, and Southeast Asia.
Lucintel, a leading global Management Consulting and market research firm, has analyzed the Global Cardiovascular Device market and presents its findings in “Global Cardiovascular Device Industry2012-2017: Trend, Profit, and Forecast Analysis.”
The Global Cardiovascular Device market consists of pace makers, valves, cardiovascular monitoring and diagnostic devices, catheters, interventional cardiology, and cardiovascular prosthetic devices. North America dominates this market. A combination of factors such as technological innovation, aging population and rising patient pool are seen to impact the market dynamics significantly.
As per the study,themarket faces challenges such as adecline in capital expenditure of hospitals, lack of trained and qualified manpower, socioeconomic diversity in population,variations in awareness and adoption rates, and healthcare infrastructure.Increased focus on the prevention, diagnosis, and treatment of cardiovascular disease, coupled with an increase in per capita income and GDP is likely to provide immense opportunities industry companies.North America representsgrowth for the market during the forecast period and is expected to capture a large portion of the market share.
This study provides a concise overview of the Global Cardiovascular Device market. The report tracks four regions of Global Cardiovascular Device market. The scope of this study is limited to annual trends for past five years and forecasts for next five years. This study includes manufacturersand retailers of cardiovascular devices. This report addresses only the Cardiovascular Devices segment of the Global Medical Device Industry.
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