Cardiovascular Devices Market (Monitoring & Diagnostic) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2011 - 2016
Albany, New York (PRWEB) September 10, 2013
Every year, millions of people die of cardiovascular diseases that are caused due to improper functioning of the heart and blood vessels. It results in complications such as Cardiac Arrhythmias, Sudden Cardiac Arrest (SCA), Congestive Heart Failure (CHF), Acute Myocardial Infarction (AMI), and Atherosclerosis. The key factors driving the growth of Cardiovascular monitoring devices are growing health awareness, the ageing population, increasing patient base undergoing cardiac procedures and life saving benefits of cardiovascular devices. With the progression in modern technologies, companies are bringing up next generation devices that involve minimal invasive methods.
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The considerable practice of biocompatible and bio absorbable materials will always be the driving force behind the modernization in the market of cardiovascular monitoring and diagnostic devices. Cardiovascular devices, in medical equipment industry represents one of the most important markets that consists of Interventional Cardiology (IC) devices, Cardiac Rhythm Management (CRM) devices, Cardiovascular Monitoring and Diagnostics Devices, Cardiovascular Prosthetic, and Cardiovascular Surgery devices.
Cardiovascular Disease (CVD) is still the top most cause for human death globally accounting to a whopping 17 million per annum. Around 30 million people are severely affected by cardiovascular diseases every year. A considerable market growth is provided in the stress testing systems and diagnostics all over the world by the emerging markets. There are two sub-segments accounting for the high demand—cardiac rhythm management and cardiovascular monitoring and diagnostic devices. Of the many factors leading to the soaring demand for cardiovascular devices, an aging population, changing lifestyle and technological advances are the main ones.
The economic downturn has affected the cardiovascular firms resulting in increased outsourcing. M&A has also become one of the strategies of the companies to grow and cope up with the situation. The World Health Organization (WHO) estimates that cardiovascular diseases are the largest cause of deaths globally, around 17.3 million people died from cardiovascular diseases in 2008. This amounts to 30% of all deaths. Of these deaths, an estimated 7.3 million were due to coronary heart disease and 6.2 million were due to stroke.
Low- and middle-income countries are the largest affected with CVDs. An estimated 80% of CVD deaths take place in low- and middle-income countries. The World Health Organization (WHO) estimates that cardiovascular diseases are the largest cause of deaths globally, around 17.3 million people died from cardiovascular diseases in 2008. This amounts to 30% of all deaths. Of these deaths, an estimated 7.3 million were due to coronary heart disease and 6.2 million were due to stroke.
Low- and middle-income countries are the largest affected with CVDs. An estimated 80% of CVD deaths take place in low- and middle-income countries. By 2030, almost 23.6 million people will die from CVDs, mainly from heart disease and stroke and are projected to be the single leading causes of death. The global CMD devices market has experienced a high growth in terms of the units sold. ECG monitoring equipment topped all the four segments. Growth in the number of units is driven by the large amount of production; marketing tactics used by large Med-Tech companies and increased usage by medical facilities.