14 September 2018
A new report by visiongain predicts that revenue from cardiovascular medical devices will more than double by 2025. That work forecasts the cardiovascular devices market will achieve overall sales of $51bn in 2015. Cardiac rhythm management devices will continue to account for the biggest proportion of that market. Growth variations between the segments are expected to occur from 2015 to 2025, with cardiac prosthetic devices likely to outperform the other product classes for revenue growth.
Those sales predictions and others appear in Cardiovascular Medical Devices: World Market, Industry, Trends and Revenue Forecasts 2015-2025, published in November 2015. Visiongain is a business information publisher and consultancy in London, UK. Its purpose is helping companies and other organisations to assess the future of industries and markets.
That report’s author said: “The cardiology devices sector is a mature market, but still there are several segments likely to experience medium to high growth during the next 10 years. Developments in the healthcare sector in developing economies boost the demand for medical devices, which compensates for moderate sales in Europe and Japan. The overall cardiology devices market is expected to achieve sales growth, with newly approved, innovative devices likely to generate high revenues. Much of the market’s development is linked to the increasing prevalence of heart disorders worldwide and aging populations. However the prominence of the cardiovascular devices market very much depends on country-specific reimbursement regulations, along with favourable economic conditions.”
Mergers and acquisitions gained momentum in the past two years, showing the medical device industry’s move towards consolidation. Cardiac device manufacturers are competing to introduce novel technologies with proven cost-effectiveness, aiming to gain better market access for treating heart conditions and other cardiovascular diseases. Research and development efforts progress, with almost 30 FDA approvals of cardiovascular devices in 2014 and 2015.
The report shows overall world revenue for that market to 2025. It also gives revenue predictions from 2015 to 2025 at world level for four main segments:
• Cardiac rhythm management • Prosthetic devices • Interventional cardio products • Monitoring and diagnostics.
That work also shows world revenue forecasts from 2015 to 2025 for another 11 applications:
• Cardiac pacemakers • Defibrillators • Ventricular assist devices • Cardiac stents • Heart valves • Catheters • Angioplasty balloons • Guidewires • Accessories • Electrocardiography • Cardiac output monitoring.
Visiongain also gives sales forecasts from 2015 to 2025 for the US, Japan, Germany, France, the UK, Italy, Spain, China, India, Russia and Brazil. The study’s forecasting comes with discussions, including SWOT and STEP analyses. The work includes profiles of leading companies: Abbott Laboratories, Biotronik, Boston Scientific, Edwards Lifesciences, Medtronic, the Sorin Group and St. Jude Medical.
Cardiovascular Medical Devices: World Market, Industry, Trends and Revenue Forecasts 2015-2025 adds to visiongain’s range of analytical reports on industries and markets in healthcare. Together those studies cover pharmaceuticals, medical devices, biotechnologies and outsourced services.
The market is expected to be driven by key factors such as rising cancer prevalence, government funding support in genetic research and technological advancements taking place in the biological research field. In addition, the market is predicted to gain huge traction in the developing countries.
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