Cardiovascular Devices Market to 2017 - Minimally Invasive Techniques and Cardiac Prosthetic Devices

Feb. 29, 2012 - PRLog -- The global cardiovascular devices market is forecast to grow at a Compound Annual Growth Rate (CAGR) of 4% during the period 2010-2017 to reach $43.4 billion by 2017.

The cardiovascular devices market will be driven by an increase in the incidence of Cardiovascular Diseases (CVDs), an increasing elderly population across the globe, an increase in risk factors such as diabetes, smoking, and hypertension leading to CVDs and the greater adoption of technological advancements. According to the World Health Organization (WHO), CVDs are the leading causes of death and disability in the world. In 2008, CVDs were responsible for 17.3 million deaths. Heart attacks were responsible for 7.3 million and strokes were responsible for 6.2 million deaths.

According to the WHO, there will be about 23.6 million deaths from CVD by 2030, primarily from heart disease and stroke. The incidence of CVD is expected to increase further in future due to an increase in behavioral risk factors, such as smoking, poor nutrition, lack of physical movement, type-A personality, high alcohol consumption and drug abuse. Behavioral risk factors are responsible for about 80% of coronary heart disease and cerebrovascular disease.

The Cardiac Rhythm Management (CRM) devices category was the largest category in the global cardiovascular devices market in 2010. The CRM market accounted for about 35% of the overall cardiovascular devices market.

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The global CRM market was valued at $11.39 billion in 2010 and is forecast to grow at a CAGR of 4% to reach $15.16 billion in 2017. Within this category ‘pacemakers’ was the largest segment. The market for CRM has grown over the past five decades due to improved device function, advances in technology and implantation techniques, and a rapidly expanding set of clinical indications.

The innovations in technology and design of cardiovascular devices in past the few years have led to an increase in the demand for cardiovascular devices. The modern day devices such as Magnetic Resonance Imaging (MRI) compatible pacemakers will increase the demand for pacemakers as the majority of patients require an MRI after implantation. Other innovative products such as artificial hearts, bioresorbable stents, tissue heart valves and heart rhythm devices with wireless telemetry features are driving the cardiovascular devices market.

GBI Research’s report, “Cardiovascular Devices Market to 2017 – Minimally Invasive Techniques and Cardiac Prosthetic Devices to Drive Future Growth” provides key data, information and analysis on the global cardiovascular devices market. The report provides the market landscape, competitive landscape and market trend information on ten cardiovascular devices market categories: cardiac rhythm management, interventional cardiology, peripheral vascular devices, cardiovascular surgery, prosthetic heart valves, external defibrillators, electrophysiology, cardiovascular monitoring and diagnostic devices, cardiovascular prosthetic devices and cardiac assist devices. The report provides comprehensive information on the key trends affecting these categories, and key analytical content on the market dynamics. The report also reviews the competitive landscape and provides a detailed analysis of the pipeline products in each category. The report also reviews details about important merger and acquisition deals that have taken place in the cardiovascular devices market during the past four years. The report is compiled using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.

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