The global industry for cardiovascular devices has been demonstrating signs of rapid growth, with industry analysts anticipating robust growth and expansion in this segment over the next few years. It is estimated that the worldwide cardiovascular device industry will touch nearly USD 97 billion by the end of 2015. In 2010, this industry stood at an estimated value of USD 85 billion, according to market research reports.
The growing incidence of cardiovascular diseases and problems among people worldwide has propelled the cardiovascular devices industry over the past few years. According to the American Heart Association, globally over 80 million people suffer from heart health problems. Cardiovascular diseases account for over 17 million deaths worldwide annually.
Most cardiovascular problems are attributed to the change in dietary habits and an increasingly sedentary lifestyle among people globally. With the younger generation consuming higher amounts of sugar and fats, the incidence of heart-related problems is likely to grow.
In fact, heart diseases have been ranked as the world’s leading factor for death and hence there is bound to be a higher demand for cardiovascular devices. This has prompted both governments and private institutions alike to invest heavily in research, development and health care and surgical facilities for better heart health among citizens.
The cardiovascular devices industry comprises of two key segments—diagnostic devices and interventional devices. These industry segments are likely to touch USD 16 billion and USD 74 billion over the next few years. Another key segment within this industry is that of support-related products.
Some of the key products within this category include: stents, drug eluting stents, catheters, pacemakers, defibrillators, echocardiography devices, ventricle support systems, guide wires, miniature cameras, and even artificial hearts.
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