Cardiovascular Devices Market Analysis By Product (Diagnostic-Monitoring: ECG, Holter monitors, Event monitors, diagnostic catheters, Implantable loop recorders, Echocardiogram, PET scan, MRI, Cardiac CT, Myocardial perfusion scans, Doppler fetal monitor; Surgical: Pacemakers, Stents, Catheters & Accessories, Guidewires, Cannulae, Electrosurgical procedures, Valves, Occlusion devices), and Segment Forecasts To 2024
Global cardiovascular devices market is anticipated to reach USD 121 billion by 2024, according to a new report by Grand View Research, Inc. Increasing geriatric population, sedentary life style coupled with unhealthy dietary habits is spurring the prevalence of cardiovascular diseases. Constant rise in the patients suffering from cardiovascular diseases and is expected to drive market growth during the forecast period.
Governments are trying to limit hospital readmissions to reduce the prevalence of hospital acquired infections (HAIs) by imposing penalties on hospitals. As a result, adoption of home healthcare, remote patient monitoring, and long term care services is rapidly increasing. Thus, demand for cardiovascular devices is increasing from hospitals, patients based in home settings, and long term care centers.
In addition, favorable government policies such as reimbursement coverage are fueling adoption of these devices. Thus, increasing target patient population, rising acceptance of home healthcare, and favorable government policies are some of the major factors driving the growth of the global cardiovascular devices market.
On the other hand, high device cost and stringent regulatory approval procedure are some of the prime factors challenging the growth of the market. In addition, lack of skilled professionals to perform surgical procedures using advanced devices is impeding the adoption of new devices.
Further key findings from the study suggest:
Availability of minimally invasive surgical devices coupled with high surgical cost is resulting in higher revenue share of surgical devices. As a result, surgical devices segment dominated the overall market in 2015.
Diagnostics and monitoring device segment is anticipated to grow at the fastest growth rate of 8.4% during the forecast period. Government initiatives to promote early diagnosis of the diseases, increasing adoption of home healthcare services and long term care centers is primarily affecting the growth of diagnostic and monitoring segment positively.
North America dominated with market share of 42.3% of the global market in 2015. Presence of large pool of target population, reimbursement coverage and high adoption rate for advanced treatments are some of the factors driving the growth of the cardiovascular devices market in North America.
Furthermore, favorable government policies and presence of well-defined regulatory framework are some of the factors augmenting the market growth in North America.
Asia Pacific is anticipated to register significant growth during the forecast period. Growth of the region would primarily attribute to anticipated rise in geriatric population prone to cardiac diseases and booming medical tourism in Asia Pacific.
Moreover, presence of rapidly developing countries such as India and China are expected to render positive growth to the Asia Pacific market. Government initiatives to improve healthcare infrastructure, increasing healthcare expenditure and increasing demand for advanced healthcare facilities are some of the factors anticipated to push the market in India and China towards swift growth.
Major players contributing to the global market include, Medtronic plc, Becton Dickinson and Company, Cardinal Health, Inc., Boston Scientific Corporation, B. Braun Melsungen AG and Abbott Laboratories, Inc., Cook Medical, Inc., Terumo Cardiovascular Systems Corporationand St. Jude Medical, Inc.
Competition among the key players would depend upon several factors included but not limited to manufacturing capacity, strong distribution network, pricing strategy and product innovation
Governments are trying to limit hospital readmissions to reduce the prevalence of hospital acquired infections (HAIs) by imposing penalties on hospitals. As a result, adoption of home healthcare, remote patient monitoring, and long term care services is rapidly increasing. Thus, demand for cardiovascular devices is increasing from hospitals, patients based in home settings, and long term care centers.
In addition, favorable government policies such as reimbursement coverage are fueling adoption of these devices. Thus, increasing target patient population, rising acceptance of home healthcare, and favorable government policies are some of the major factors driving the growth of the global cardiovascular devices market.
On the other hand, high device cost and stringent regulatory approval procedure are some of the prime factors challenging the growth of the market. In addition, lack of skilled professionals to perform surgical procedures using advanced devices is impeding the adoption of new devices.
Further key findings from the study suggest:
Availability of minimally invasive surgical devices coupled with high surgical cost is resulting in higher revenue share of surgical devices. As a result, surgical devices segment dominated the overall market in 2015.
Diagnostics and monitoring device segment is anticipated to grow at the fastest growth rate of 8.4% during the forecast period. Government initiatives to promote early diagnosis of the diseases, increasing adoption of home healthcare services and long term care centers is primarily affecting the growth of diagnostic and monitoring segment positively.
North America dominated with market share of 42.3% of the global market in 2015. Presence of large pool of target population, reimbursement coverage and high adoption rate for advanced treatments are some of the factors driving the growth of the cardiovascular devices market in North America.
Furthermore, favorable government policies and presence of well-defined regulatory framework are some of the factors augmenting the market growth in North America.
Asia Pacific is anticipated to register significant growth during the forecast period. Growth of the region would primarily attribute to anticipated rise in geriatric population prone to cardiac diseases and booming medical tourism in Asia Pacific.
Moreover, presence of rapidly developing countries such as India and China are expected to render positive growth to the Asia Pacific market. Government initiatives to improve healthcare infrastructure, increasing healthcare expenditure and increasing demand for advanced healthcare facilities are some of the factors anticipated to push the market in India and China towards swift growth.
Major players contributing to the global market include, Medtronic plc, Becton Dickinson and Company, Cardinal Health, Inc., Boston Scientific Corporation, B. Braun Melsungen AG and Abbott Laboratories, Inc., Cook Medical, Inc., Terumo Cardiovascular Systems Corporationand St. Jude Medical, Inc.
Competition among the key players would depend upon several factors included but not limited to manufacturing capacity, strong distribution network, pricing strategy and product innovation
CHAPTER 1 EXECUTIVE SUMMARY
CHAPTER 2 MARKET SNAPSHOT
CHAPTER 3 MARKET VARIABLES, TRENDS & SCOPE
3.1 Market segmentation & scopes
3.1.1 Market Driver Analysis
3.1.1.1 Favorable Reimbursement Scenario
3.1.1.2 High Prevalence of Atherosclerosis
3.1.1.3 Improvement in technological infrastructure
3.2 Penetration & growth prospect mapping
3.3 Cardiovascular devices - SWOT Analysis, By Factor (political & legal, economic and technological)
3.4 Industry Analysis - Porter’s
CHAPTER 4 MARKET CATEGORIZATION 1: BY PRODUCT
4.1 Diagnostic and monitoring devices
4.1.1 ECG
4.1.2. Holter monitors
4.1.3. Event monitors
4.1.4. Cardiovascular diagnostic catheters
4.1.5. Implantable loop recorders
4.1.6. Echocardiogram
4.1.7. PET scan
4.1.8. MRI
4.1.9. Cardiac CT
4.1.10. Myocardial Perfusion Scans
4.1.11. Doppler fetal monitor
4.1.12. Others
4.2 Surgical devices
4.2.1 Pacemakers
4.2.2. Stents
4.2.3. Catheters and accessories
4.2.4. Guidewires
4.2.5. Cannulae
4.2.6. Electrosurgical procedures
4.2.7. Valves
4.2.8. Occlusion devices
4.2.9. Others
CHAPTER 5 MARKET CATEGORIZATION 2: REGIONAL ESTIMATES & TREND ANALYSIS, BY PRODUCT
5.1 Cardiovascular devices market share by region, USD Billion, 2014 & 2024
5.2 North America market revenue by product, USD Billion, 2014 & 2024
5.2.1 U.S. market revenue by product, USD Billion, 2014 & 2024
5.2.2 Canada market revenue by product, USD Billion, 2014 & 2024
5.3 Europe market revenue by product, USD Billion, 2014 & 2024
5.3.1 Germany market revenue by product, USD Billion, 2014 & 2024
5.3.2 U.K. market revenue by product, USD Billion, 2014 & 2024
5.4 Asia Pacific market revenue by product, USD Billion, 2014 & 2024
5.4.1 China market revenue by product, USD Billion, 2014 & 2024
5.4.2 Japan market revenue by product, USD Billion, 2014 & 2024
5.5. Latin America market revenue by product, USD Billion, 2014 & 2024
5.5.1. Brazil market revenue by product, USD Billion, 2014 & 2024
5.5.2. Mexico market revenue by product, USD Billion, 2014 & 2024
5.6. MEA market revenue by product, USD Billion, 2014 & 2024
5.6.1. South Africa market revenue by product, USD Billion, 2014 & 2024
CHAPTER 6 COMPETITIVE LANDSCAPE
6.1 Strategy framework
6.2 Market participation categorization
6.3 Company Profiles
6.3.1 Medtronic plc
6.3.1.1 Company Overview
6.3.1.2 Financial Performance
6.3.1.3 Product Benchmarking
6.3.1.4 Strategic Initiatives
6.3.2 Becton Dickinson and Company
6.3.2.1 Company Overview
6.3.2.2 Financial Performance
6.3.2.3 Product Benchmarking
6.3.2.4 Strategic Initiatives
6.3.3 Cardinal Health, Inc.
6.3.3.1 Company Overview
6.3.3.2 Financial Performance
6.3.3.3 Product Benchmarking
6.3.3.4 Strategic Initiatives
6.3.4 Boston Scientific Corporation
6.3.4.1 Company Overview
6.3.4.2 Financial Performance
6.3.4.3 Product Benchmarking
6.3.4.4 Strategic Initiatives
6.3.5 B. Braun Melsungen AG
6.3.5.1 Company Overview
6.3.5.2 Financial Performance
6.3.5.3 Product Benchmarking
6.3.5.4 Strategic Initiatives
6.3.6 Abbott Laboratories, Inc.
6.3.6.1 Company Overview
6.3.6.2 Financial Performance
6.3.6.3 Product Benchmarking
6.3.6.4 Strategic Initiatives
6.3.7 Cook Medical, Inc.
6.3.7.1 Company Overview
6.3.7.2 Financial Performance
6.3.7.3 Product Benchmarking
6.3.7.4 Strategic Initiatives
6.3.8 Terumo Cardiovascular Systems Corporation
6.3.8.1 Company Overview
6.3.8.2 Financial Performance
6.3.8.3 Product Benchmarking
6.3.8.4 Strategic Initiatives
6.3.9. St. Jude Medical, Inc.
6.3.9.1 Company Overview
6.3.9.2 Financial Performance
6.3.9.3 Product Benchmarking
6.3.9.4 Strategic Initiatives
CHAPTER 2 MARKET SNAPSHOT
CHAPTER 3 MARKET VARIABLES, TRENDS & SCOPE
3.1 Market segmentation & scopes
3.1.1 Market Driver Analysis
3.1.1.1 Favorable Reimbursement Scenario
3.1.1.2 High Prevalence of Atherosclerosis
3.1.1.3 Improvement in technological infrastructure
3.2 Penetration & growth prospect mapping
3.3 Cardiovascular devices - SWOT Analysis, By Factor (political & legal, economic and technological)
3.4 Industry Analysis - Porter’s
CHAPTER 4 MARKET CATEGORIZATION 1: BY PRODUCT
4.1 Diagnostic and monitoring devices
4.1.1 ECG
4.1.2. Holter monitors
4.1.3. Event monitors
4.1.4. Cardiovascular diagnostic catheters
4.1.5. Implantable loop recorders
4.1.6. Echocardiogram
4.1.7. PET scan
4.1.8. MRI
4.1.9. Cardiac CT
4.1.10. Myocardial Perfusion Scans
4.1.11. Doppler fetal monitor
4.1.12. Others
4.2 Surgical devices
4.2.1 Pacemakers
4.2.2. Stents
4.2.3. Catheters and accessories
4.2.4. Guidewires
4.2.5. Cannulae
4.2.6. Electrosurgical procedures
4.2.7. Valves
4.2.8. Occlusion devices
4.2.9. Others
CHAPTER 5 MARKET CATEGORIZATION 2: REGIONAL ESTIMATES & TREND ANALYSIS, BY PRODUCT
5.1 Cardiovascular devices market share by region, USD Billion, 2014 & 2024
5.2 North America market revenue by product, USD Billion, 2014 & 2024
5.2.1 U.S. market revenue by product, USD Billion, 2014 & 2024
5.2.2 Canada market revenue by product, USD Billion, 2014 & 2024
5.3 Europe market revenue by product, USD Billion, 2014 & 2024
5.3.1 Germany market revenue by product, USD Billion, 2014 & 2024
5.3.2 U.K. market revenue by product, USD Billion, 2014 & 2024
5.4 Asia Pacific market revenue by product, USD Billion, 2014 & 2024
5.4.1 China market revenue by product, USD Billion, 2014 & 2024
5.4.2 Japan market revenue by product, USD Billion, 2014 & 2024
5.5. Latin America market revenue by product, USD Billion, 2014 & 2024
5.5.1. Brazil market revenue by product, USD Billion, 2014 & 2024
5.5.2. Mexico market revenue by product, USD Billion, 2014 & 2024
5.6. MEA market revenue by product, USD Billion, 2014 & 2024
5.6.1. South Africa market revenue by product, USD Billion, 2014 & 2024
CHAPTER 6 COMPETITIVE LANDSCAPE
6.1 Strategy framework
6.2 Market participation categorization
6.3 Company Profiles
6.3.1 Medtronic plc
6.3.1.1 Company Overview
6.3.1.2 Financial Performance
6.3.1.3 Product Benchmarking
6.3.1.4 Strategic Initiatives
6.3.2 Becton Dickinson and Company
6.3.2.1 Company Overview
6.3.2.2 Financial Performance
6.3.2.3 Product Benchmarking
6.3.2.4 Strategic Initiatives
6.3.3 Cardinal Health, Inc.
6.3.3.1 Company Overview
6.3.3.2 Financial Performance
6.3.3.3 Product Benchmarking
6.3.3.4 Strategic Initiatives
6.3.4 Boston Scientific Corporation
6.3.4.1 Company Overview
6.3.4.2 Financial Performance
6.3.4.3 Product Benchmarking
6.3.4.4 Strategic Initiatives
6.3.5 B. Braun Melsungen AG
6.3.5.1 Company Overview
6.3.5.2 Financial Performance
6.3.5.3 Product Benchmarking
6.3.5.4 Strategic Initiatives
6.3.6 Abbott Laboratories, Inc.
6.3.6.1 Company Overview
6.3.6.2 Financial Performance
6.3.6.3 Product Benchmarking
6.3.6.4 Strategic Initiatives
6.3.7 Cook Medical, Inc.
6.3.7.1 Company Overview
6.3.7.2 Financial Performance
6.3.7.3 Product Benchmarking
6.3.7.4 Strategic Initiatives
6.3.8 Terumo Cardiovascular Systems Corporation
6.3.8.1 Company Overview
6.3.8.2 Financial Performance
6.3.8.3 Product Benchmarking
6.3.8.4 Strategic Initiatives
6.3.9. St. Jude Medical, Inc.
6.3.9.1 Company Overview
6.3.9.2 Financial Performance
6.3.9.3 Product Benchmarking
6.3.9.4 Strategic Initiatives
LIST OF TABLES
Table 1 North America Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 2 U.S. Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 3 Canada Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 4 Europe Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 5 Germany Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 6 U.K. Cardiovascular devices market, by product, 2014 - 2024 (USD Million)
Table 7 Asia Pacific Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 8 China Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 9 Japan Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 10 Latin America Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 11 Brazil Cardiovascular devices market, by product, 2014 - 2024 (USD Million)
Table 12 Mexico Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 13 MEA Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 14 South Africa Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 15 Saudi Arabia Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 1 North America Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 2 U.S. Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 3 Canada Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 4 Europe Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 5 Germany Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 6 U.K. Cardiovascular devices market, by product, 2014 - 2024 (USD Million)
Table 7 Asia Pacific Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 8 China Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 9 Japan Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 10 Latin America Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 11 Brazil Cardiovascular devices market, by product, 2014 - 2024 (USD Million)
Table 12 Mexico Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 13 MEA Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 14 South Africa Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
Table 15 Saudi Arabia Cardiovascular Devices Market, By Product, 2014 - 2024 (USD Million)
