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Research report explores the global cardiovascular device market to reach $69.3 billion by 2022

Medical Market Research

Lucintel anticipates that APAC will be the fastest growing region in the global cardiovascular device market

- Advertisement - According to a new market report published by Lucintel, the future of the global cardiovascular device market looks good with opportunities in public and private hospitals. The global cardiovascular device market is expected to reach an estimated $69.3 billion by 2022, and it is forecast to grow at a CAGR of 4.3% from 2017 to 2022.

The major drivers for market growth are growing demand for minimally invasive surgery, increasing healthcare expenditure, and growing geriatric population. The cardiac rhythm management (CRM), interventional cardiac devices, peripheral vascular devices, cardiac assist devices, structural heart devices, cardiovascular surgery, electrophysiology, and diagnostic & monitoring devices are the main branches of global cardiovascular device market.

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On the basis of comprehensive research, Lucintel forecasts that the structural heart device, electrophysiology, cardiac assist device, and diagnostic & monitoring device segments are expected to show above average growth during the forecast period. Within the global cardiovascular device market, the CRM segment is expected to remain the largest segment.

Increasing use of defibrillators mainly due to its cost effectiveness and safety is expected to result in significant growth of the CRM market. By device type, the global cardiovascular device market is segmented into pacemaker, defibrillator, stent, cardiac catheter, guidewire, heart valve, ECG, event monitor, and others.

The defibrillator is the largest market mainly due to the development of technologically advanced defibrillators and rapid growth in the aging population with high risk of cardiovascular diseases. North America is expected to remain the largest market during the forecast period mainly due to presence of a large size target patient pool coupled with high adoption rate for advanced treatments in this region.

APAC is expected to witness the highest growth over the forecast period due to growing health awareness, improved healthcare infrastructure along with an increasing spending capacity of the population in this region. Emerging trends which have a direct impact on the dynamics of the industry include increasing demand of portable heart monitoring devices, rising adoption of transcatheter aortic valve replacement (TAVR) procedure, and increasing use of bioresorbable stents.

Medtronic Public Limited Company, Boston Scientific Corporation, Abbott Laboratories, Edwards Lifesciences Corporation, and Johnson & Johnson are among the major suppliers of cardiovascular devices. Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global cardiovascular device market by type, device, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Cardiovascular Device Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions.

The study includes a forecast for the global cardiovascular device market by type, device, and region, as follows: By Type [Value ($ Million) from 2011 to 2022]: • Cardiac Rhythm Management • Interventional Cardiac Devices • Peripheral Vascular Devices • Cardiac Assist Devices • Structural Heart Devices • Cardiovascular Surgery • Electrophysiology • Diagnostic & Monitoring Devices By Device [Value ($ Million) from 2011 to 2022]: • Pacemaker • Defibrillator • Stent • Cardiac Catheter • Guidewire • Heart Valve • ECG • Event Monitor • Others By Region [Value ($ Million) from 2011 to 2022]: • North America − United States • Europe − Germany − France − United Kingdom − Italy − Spain • APAC − Japan − China − India • ROW − Brazil This 197-page research report will enable you to make confident business decisions in this globally competitive marketplace.

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