Global Cardiovascular Devices Market Report 2023: Market is Projected to Surpass $65 Billion - Opportunities in the Growing Availability of Efficient Devices and Growth Potential in Emerging Economies
The Cardiovascular Devices Market will surpass US$65 billion in 2023
Growth Potential in Emerging Economies
The high occurrence of diabetes along with the large geriatric population in these emerging economies such as Japan, India, China, & Brazil provides substantial development opportunities for the cardiovascular devices market. As per the World Health Organization over 18 million people die due to CVDs each year. Of these deaths, over three-fourths deaths are attributed to heart attack and stroke.
Besides, approximately two-thirds of CVD deaths take place in low-and middle-income nations where high blood pressure (BP) is amongst the most important risk factors. People at risk of CVD may exhibit high BP, glucose, and lipid along with overweight and obesity.
To identify those at the maximum risk of CVDs along with to ensure they receive suitable treatment is expected to prevent premature deaths. In Brazil, non-communicable diseases (NCDs), accounted for approximately three-fourths of total deaths. Therefore, potential across emerging nations is projected to provide lucrative growth opportunities for the regional market players.
Growing Availability of Efficient Devices
The cardiovascular devices market is expected to witness exponential growth in the future with the high adoption of cutting-edge technologies to serve the rising disease burden.
In addition, there has been an increase in the incidence of heart diseases globally, which leads to the demand for efficient and state-of-the-art heart devices. The availability of cutting-edge devices has led to the implementation of these devices in developed nations. Besides, there has been a rise in government initiatives along with funding for research and development activities.
Further, investors are focusing on escalating the availability of advanced and economical cardiovascular devices in emerging markets. For instance, in 2020, AliveCor, one of the leading enterprise cardiac solution and AI-based ECG technology providers, launched KardiaMobile device in Mexico. This device is used to store, record, and transfer single-channel electrocardiogram rhythms from the patients.
This launch was done through a partnership between AliveCor and Mexico-based Inpharamo, a medical solutions company. Hence, growth in accessibility of efficient devices is projected to offer lucrative growth prospects over the forecast period.
What Questions Should You Ask before Buying a Market Research Report?
How is the cardiovascular devices market evolving?
What is driving and restraining the cardiovascular devices market?
How will each cardiovascular devices submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2033?
How will the market shares for each cardiovascular devices submarket develop from 2023 to 2033?
What will be the main driver for the overall market from 2023 to 2033?
Will leading cardiovascular devices markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2033 and which geographical region will lead the market in 2033?
Who are the leading players and what are their prospects over the forecast period?
What are the cardiovascular devices projects for these leading companies?
How will the industry evolve during the period between 2023 and 2033? What are the implications of cardiovascular devices projects taking place now and over the next 10 years?
Market Dynamics
Market Driving Factors
Increasing Prevalence of Obesity
Rising Consumption of Tobacco
Increasing Incidence of Coronary Artery Diseases (CAD)
Market Restraining Factors
Stringent Regulatory Requirements Delaying the Approval of Cardiac Devices
Market Opportunities
Growth Potential in Emerging Economies
Growing Availability of Efficient Devices
Porter's Five Forces Analysis
PESTLE Analysis
COVID-19 Impact Analysis
Leading companies and the potential for market growth
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