Cardiovascular devices are used to treat cardiovascular diseases that include numerous problems, most of them related to atherosclerosis. Atherosclerosis is a medication state characterized by when a substance called plaque builds up in the walls of the arteries. It narrows the arteries, making it harder for blood to flow through and affects the normal supply of blood and causes heart attack. Heart attack occurs when the blood flow of the heart is blocked by a blood clot. Other cardiovascular diseases, such as ischemic stroke and heart failure, occur when a blood vessel is blocked by clot. In addition, heart failure, sometimes called congestive heart failure, means the heart isn't pumping blood properly. Arrhythmia is also one of the major cardiovascular diseases usually characterized by abnormal rhythm of the heart. To overcome these problems, various cardiovascular devices are used to diagnose and treat heart diseases.
The global cardiovascular devices is segmented into cardiac rhythm management, cardiovascular monitoring and diagnostic, interventional cardiology, prosthetic heart valves, external defibrillators, electrophysiology, peripheral vascular, cardiac assist and cardiovascular prosthetic and cardiovascular surgery. Cardiac rhythm management device is the largest segment in global cardiovascular devices market.
North America accounts for the largest cardiovascular devices market followed by Europe. This is due to increased awareness about various heart diseases, developed economies and increased overweight or obese people in the region. In addition, high disposable incomes and favorable reimbursement policies are also supporting the growth of cardiovascular devices market in the region. The U.S., followed by Canada, is the largest market for cardiovascular devices in North America. Germany, France and the U.K. are some of the largest markets for cardiovascular devices in the European region. However, Asia-Pacific represents the fastest growing region in the global cardiovascular devices market. This is due to increasing awareness about various heart diseases in the region and increasing number of aged people in the region.
Increasing prevalence of cardiovascular diseases is key driving factor for the demand of cardiovascular devices. Increased demand of minimally invasive surgeries and changing lifestyles are also contributing to the growth of global cardiovascular devices market. Minimally invasive surgeries offer patients with numerous advantages including less pain, reduced hospital stays, low chances of infections and faster recovery from diseases These advantages attracts patients and healthcare providers to adopt cardiovascular devices for diagnosis and treatment of cardiovascular diseases.
Moreover, increasing prevalence of diabetes and increasing number of overweight and obese people is boosting the demand of global cardiovascular devices. In addition, technical innovations in cardiovascular devices will have strong positive impacts on cardiovascular devices market in coming few years.
However, stringent regulations and legislations is a key restraint of the global cardiovascular devices market. In addition, high cost of cardiovascular devices and lack of skilled healthcare professionals to operate expensive devices also obstructs growth of cardiovascular devices. Rapid product launches and increasing mergers and acquisitions between cardiovascular devices manufacturing companies are key trends in global cardiovascular devices market.
Some of the major competitors in the market are Medtronic Inc., MAQUET GmbH & Co. KG, Sorin Group, Terumo Corporation, C. R. Bard Inc., SEMMT Inc., Cardima Inc. CyberHeart Incorporated, Kardium Inc., EndoPhotonix Inc., St. Jude Medical, MedWaves Incorporated and Edwards Lifesciences.
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