Global Cardiovascular Application Market Scope Report

Global Cardiovascular Application Market Highlights Over 2023 - 2033

The global Cardiovascular Application market is estimated to garner a revenue of ~USD 92 billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 52 billion in the year 2022. The growth of the market can be attributed to the growing pervasiveness of chronic cardiovascular disease across the globe. By cause of high consumption of alcohol, tobacco, and frequent smoking has increased the risk of cardiovascular disease. High proportion of salt in diet can be another factor responsible for the increased risk. According to World Health Organization, in 2019 approximately 17.9 million people died by caused of CVDs which has represented 32% of all death globally.

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Another important cause for boosting demand for cardiovascular application can be the increasing geriatric population. According to World Health Organization, 1 out of every 6 people in the world will be aged 60 years and more by 2030. Further, the growth of the cardiovascular application market can be backed by increasing risk of obesity among the population and physical inactiveness of the people since it increases the risk of cardiovascular disease. The obesity occurrence among adults aged 20-39 were 39.8% and 44.3% for the adults aged 40-59, whereas for the adults aged above 60 years the obesity rate was 41.5%. 

Global Cardiovascular Application Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Risk of Coronary Artery Disease (CAD)

It is estimated that approximately 610,000 people die owing to coronary artery disease (CAD) annually which 1 out of every four deaths. The risk of coronary artery disease is more in people having blood pressure, high cholesterol, or diabetes. This is usually caused by poor diet and obesity. Owing to the changing lifestyle and being physically inactive the risk of CADs increases. Hence the demand for cardiovascular application is estimated to boost.

• Technology Advancement Leading a Boost in Demand

Remo Care Solution based in Kochi has launched Remo Cardia, a smallest ECG machines in the whole world which can detect or predict more than 15 cardiac diseases using AI algorithms.

• Reduction in Price for Critical Cardiovascular Therapeutic Devices

A reduction in price for coronary stents in India, Maharashtra led to an increase in patient by 43% who underwent heart procedures with the devices.

• Increasing Health Awareness Among People

World Health Organization has partnered with Wikimedia to increase awareness regarding health among people in Malaysia.

• Initiatives to Make Cardiovascular Application Available by Public Authorities

The American Heart Association pushes for significant financing for the CDC's heart disease and stroke prevention initiatives, including Million Hearts 2022, WISEWOMAN, and heart disease and stroke prevention.

Challenges

• Time-Consuming Approval for Novel Drug

• Biocompatibility Issues

• Rising Heart Cost Impacting Healthcare Cost

The global cardiovascular application market is segmented and analyzed for demand and supply by device type into diagnostic & monitoring segment, and surgical devices segment. Amongst these segment the diagnostic & monitoring segment is anticipated to hold the largest share by the end of 2033, backed by the increasing demand for early diagnosis of cardiovascular disease. There has been increasing awareness among the people regarding the early detection of cardiovascular disease and treatment available for the same is boosting the demand for cardiovascular device in the market. According to World Health Organization, CVDs is a leading cause of death all around the globe. Hence detection of cardiovascular disease is necessary so that it can be treated as early as possible.

Global Cardiovascular Application Market Regional Synopsis

Regionally, the global cardiovascular application market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, backed by the presence of huge population and increasing pervasiveness of cardiovascular disease. In 2019, the leading cause of death in Asia Pacific was CVD, causing 10.8 million deaths, which is relatively 35% of the total death.

North America is estimated to garner the highest revenue in the cardiovascular application market owing to the increasing burden of cardiovascular disease. Also, the improved healthcare facility and increased expenditure on health is expected boost the growth of the market.

Market Segmentation

Our in-depth analysis of the global cardiovascular application market includes the following segments:

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 Key Companies Dominating the Global Cardiovascular Application Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global cardiovascular application market that are included in our report are B Braun AG, Abbott Laboraties, Johnson & Johnson Private Limited, India Medtronic Private Limited, Boston Scientific Corporation, LivaNova Plc, Edwards Lifesciences Corporation, General Electric Company, Siemens Healthcare GmbH, and Terumo Cardiovascular Systems Corporation.

Global Cardiovascular Application Marker: Latest Development

• November, 2021, B Braun AG has announced its partnership with Reva Medical for the distribution of Fantom Encore, a bioresorbable scaffold for coronary interventions, manufactured by Reva Medical.

• June, 2021 General Electric Company and the American College of Cardiology are collaborating for advancing AI in cardiac care.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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