The global Cardiac Care Medical Equipment Market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth include rise in number of geriatric patients and advancements in healthcare infrastructures.
Diagnostics, treatment, and monitoring of heart problems are all done with cardiac care medical equipment. Cardiovascular disease (CVD) is the world’s leading cause of death. According to the World Health Organization, cardiovascular disorders such as ischemic heart disease and stroke account for 17.7 million deaths in India, with a large patient pool of younger people (WHO).
Major Factors Driving Growth Of The Global Cardiac Care Medical Equipment Market:
The market for cardiac care medical equipment is being driven by prevalence of CVD and increase in number of geriatric patients. Other factors driving market’s growth include increasing healthcare expenditures, attractive reimbursement policies, a global focus on employing minimal or non-invasive technology, and improving healthcare infrastructure. Furthermore, as robotic systems for treatment of CVD become more widely used, demand for cardiac care medical equipment has increased.
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Factors Restraining Growth Of The Global Cardiac Care Medical Equipment Market:
The global Cardiac Care Medical Equipment Market growth is substantially hampered by high cost of these medical equipment.
During the projected period, the dearth of competent specialists to perform cardiovascular procedures employing modern equipment may stymie market expansion. Additionally, the market’s expansion is expected to be hampered by high cost of medical equipment and product recalls due to incorrect functioning.
Opportunities For Players Operating In The Global Cardiac Care Medical Equipment Market:
In the coming years, advancements in creation of tiny and portable diagnostic and surgical devices, as well as use of software as a differentiator, are projected to open up new prospects.
Artificial intelligence (AI), advanced algorithms, and predictive analytics are examples of recent breakthroughs that help in early detection and treatment of critically ill patients, as well as improving outcomes and providing value-based care. These advanced technologies are likely to provide more opportunities for market players.
Global Cardiac Care Medical Equipment Market Revenue Led By Application:
Due to improvements in hospital infrastructure, an increase in number of hospital visits and stays, and higher governmental expenditure on health care facilities, the hospitals category is expected to dominate the market throughout the projection period.
Asia Pacific Accounts For Largest Revenue Share In Global Cardiac Care Medical Equipment Market:
Market is growing due to development of healthcare infrastructure and facilities, higher healthcare expenditures, adoption of sophisticated technologies, and presence of well-known companies. Infrastructure investments, regional expansion, economic development, and a low-cost, high-skilled workforce are just a few of the market’s other drivers.
Due to large emergency visits by patients, a surge in aged people’s population proneness towards medical emergencies, increased governmental funding, and improving hospital infrastructure, India and China are projected to lead the market.
Major Companies Profiled In The Report:
- Boston Scientific
- Cardiac Science
- GE Healthcare
- Berlin Heart
- Philips Healthcare
- Biotronik, Inc.
- St. Jude Medical
- Thoratec Corporation
Strategies And Objectives Of Major Companies:
- LivaNova’s board of directors unanimously approved the sale of its heart valve business in December, allowing company to “sharpen its focus” on its key platforms, such as neuromodulation and cardiovascular medicine.
- Teleflex Medical has acquired 14 companies. The deals cost the corporation more than $ 5.43 billion. Teleflex Medical has made investments in a variety of fields, including Cardiac and Vascular Disorders, Pulmonology, Genitourinary, and others.
- Abbott released its innovative implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices for irregular heart rhythms and heart failure in 2021. Through smartphone connectivity and associated applications, gadgets provide new potential for patient interaction and remote monitoring. Other advantages include a patient-friendly design, longer battery life, and MRI compatibility.
- UltraSight, a digital health pioneer that uses artificial intelligence to revolutionize cardiac imaging, has announced a new collaboration with GE Healthcare to conduct a cardiac study aboard the Axiom ‘Rakia’ space mission, as well as completion of Preliminary Design Review (PDR) for Cardiac Point of Care Ultrasound (POCUS).
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, the global Cardiac Care Medical Equipment Market is segmented on the basis of type, product, application, sales channel, region:
Type Outlook (Revenue, USD Billion; 2023-2032)
- Cardiac rhythm management devices
- Cardiac prosthetic devices
- Peripheral vascular devices
- Interventional cardiac medical devices
- Cardiac monitoring and diagnostic devices
Product Outlook (Revenue, USD Billion; 2023-2032)
- Holter Monitors
Application Outlook (Revenue, USD Billion; 2023-2032)
Sales Channel Outlook (Revenue, USD Billion; 2023-2032)
- Direct Channel
- Distribution Channel
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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