Cardiovascular Application Market estimated to reach USD 36730.5 million by 2023

Market Research Future has published a new report titled as “Global Cardiovascular Application Market” explores Key Market Driver, market size, growth rate, opportunities, market Dynamics and Overall Analysis up to 2023.

Cardiovascular Application Market – Scenario

The Global Cardiovascular Application Market Is Expected To Grow At A CAGR Of 7.24% During The Forecast Period 2017-2023. Cardiovascular devices has gained a huge attention during last decade owing to the increasing prevalence of different cardiovascular diseases. During the last few years, healthcare IT has gained a significant importance as the adoption of the software solutions and computer aided diagnosis has increased the efficacy of the treatment.

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Increasing prevalence of cardiovascular diseases, adoption of advanced techniques in diagnosis, and increasing government support have driven the growth of the market. According to the World Health Organization, 422 million of the people across the globe are suffering from the diabetes. Diabetes is the major reason for cardiovascular diseases. Increasing prevalence of diabetes, rapidly developing technology, and increasing geriatric population across the globe has fuelled the growth of the market. However, strict regulations are to be followed by the manufacturer for the development of the devices. Strict regulatory rules and high cost of some of the devices may slow the growth of the market over the assessment period.

Key Players:

Stryker Corporation

Abbott

Medtronic

CR Bard Inc.

Boston Scientific Corporation

Smith & Nephew plc.

And more.

Segmentation:

The global cardiovascular application market has been segmented on the basis of devices and end users.

On the basis of the devices, the global cardiovascular application market is segmented into the cardiac pacemaker, defibrillators, monitors, and others. The cardiac monitors are further segmented into resting ECG, ECG monitors, holter monitors, implantable loop recorder, and others.

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The cardiac pacemaker are further segmented into implantable cardiac pacemaker, and external cardiac pacemaker. Implantable cardiac pacemaker are subsegmented into single-chamber pacemakers, dual-chamber pacemakers, and biventricular pacemakers. The cardiac defibrillator is further categorized into implantable cardioverter defibrillator, and external defibrillator.

On the basis of the end users, the market is segmented into cardiac care centers, ambulatory centers & home care, academic institutes, and others.

Regional analysis of Cardiovascular Application Market:

The Americas dominated the market due to huge cardiovascular patient’s population, high healthcare expenditure, faster uptake of technology, and the presence of the leading players. The U.S. and the Canada dominate Americas market.

Europe accounted for the second largest market led by Germany, France and Russia. The deteriorating healthcare conditions in Russia followed by the rising consumption of alcohol are driving the Russian market.

Asia Pacific is expected to be the fastest growing cardiovascular application market driven by the growing patient’s pool, transition of the economic and social conditions and developing economies of China and India. However it has to be noted that the Asian countries are staple rice and fish eaters which acts as a natural constraint on the market. Thus japan despite possessing the characteristics of developed economies has some of the lowest rates for cardiovascular diseases.

The Middle East & Africa holds the least share of the market owing to the poor share of fat and sugar rich diets especially in the African region.

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