The global cardiovascular devices market is expected to register a compound annual growth rate (CAGR) of 6.8% by 2030.
New York, New York, United States, October 8, 2022 /EINPresswire.com/ – Research Nester released a report titled “Cardiovascular devices market: Global Demand Analysis and Opportunity Forecast 2030” which provides a detailed overview of the global Cardiovascular Devices market in terms of market segmentation by products, indicators, end users, and region.
Moreover, for in-depth analysis, the report includes industry growth indicators, restraints, and supply and demand risks, along with a detailed discussion of current and future market trends associated with the market growth.
The global Cardiovascular Devices Market is expected to grow at a CAGR of approximately 6.8% during the forecast period, i.e. 2022-2030 on the back of the increasing prevalence of Cardiovascular diseaseThis has led to an increased demand for advanced cardiovascular devices to diagnose and monitor vital signs. The increasing reliance of physicians, patients, and others to obtain health information through wearable cardiac monitors is key to estimating the global market.
The global cardiovascular devices market is segmented by products into diagnostic, monitoring, therapeutic and surgical devices. Among these segments, the Diagnostic and Monitoring Devices segment is expected to take the largest share during the forecast period on the back of the increasing prevalence of cardiovascular diseases globally, which is expected to boost the demand for technologically advanced cardiac monitors in the market.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa, and the market in Asia Pacific is expected to grow with the highest CAGR worldwide forecast period due to rising number of elderly and high prevalence of heart diseases and blood vessels. Currently, the North American market holds the largest share. This can be attributed to the presence of major players in cardiovascular systems in the region.
Increasing prevalence of cardiovascular diseases and increasing adoption of technologically advanced devices to drive market growth
According to the World Health Organization (WHO), the increase in cardiovascular disease is the number one cause of death globally, causing 17.9 million deaths annually.
Innovations in devices are expected to boost the growth of the cardiovascular devices market. Increasing investments in research and development activities by the major market players is expected to drive market growth.
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However, the high prices of devices have hampered their installation in hospitals, clinics and mobile surgical centers to develop and
backward areas. This is estimated to limit market growth.
This report also presents the current competitive scenario of some of the major players in the global Cardiovascular Devices Market, which includes company profiling of GE Healthcare, Abbott Laboratories, Medtronic Plc, Johnson & Johnson, Edwards Lifesciences, Boston Scientific Corporation, and Siemens AG, Koninklijke Philips NV and Mindray Bio-Medical Electronics Co., Ltd. and Cardinal Health Inc. and others. The profiling includes basic corporate information, which includes an overview of the business, products and services, key financial data, and recent news and developments. Overall, the report depicts a detailed overview of the Global Cardiovascular Devices Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players looking for possibilities, and other stakeholders to align their market focused strategies as per the ongoing and forecast trends. In the future.
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