The year 2010 brought opportunities and hope for many industries to overcome from the effect of recession although medical equipment industry was not affected much compared to others due to necessity of the treatment. Cardiovascular device market also faced the heat of the economic downturn but managed to generate positive results with a slow growth rate and increased M&A activities to compete in the tough situations. There are two sub-segments accounting for high demand, Cardiac rhythm management and cardiovascular monitoring and diagnostic devices.
In terms of geography, United States represents the largest market in the worldwide cardiovascular disease diagnostics market. Europe represents the second largest market, followed by Japan. The US National Health expenditures have grown from 2004 to reach US$~ billion in 2009. According to an American Heart Association, cardiovascular disease (CVD) and death rates is expected to rise in China by nearly 73% by 2030 Cardiovascular product sales are estimated to increase attesting to the large opportunities in China. Growth in medical device sector offers room to grow for cardiovascular device demand in the region.
The overall sales in the global market for cardiovascular devices in 2009 amounted to US$~ billion, while the projected sale for 2010 is an estimated US$~ billion. At a compound annual growth rate of 2.8 %.
Sales in diagnostic cardiovascular devices amounted to US$~ billion in 2009. This is estimated to reach to US$~ billion in 2015 with a CAGR of 4.50%.
In 2008, World cardiovascular in-vivo diagnostics market was estimated to US$~ billion.
The worldwide CRM market, including Electrophysiology, approximated US$~ billion in 2009, as compared to US$~ billion in 2008 and US$~ billion in 2007 with a growth rate of 15.38%.
In US, the total number of heart related implant procedures was 2.2 million in 2009 based on the profits of 2.3% every year from 2004. Stenting procedures accounted for approximately 53% of the total in 2009.
Cardiac implant accounts for nearly ~% of the total implantable medical device industry in US. Demand for cardiac implants is projected to grow at a 7 year CAGR of 6.72% to ~.0 billion in 2015.
Rising rates of obesity have also contributed to the increase in Heart attack rates. Over the past 13 years, the percent of the U.S. population classified as obese has increased 67% (from 15.9% of the population in 1995 to 26.6% in 2008).
Scope of the report
The report provides all the crucial company information required for business and competitor intelligence needs.
Contains a study of the major internal and external factors affecting the industry in the form of industry trends and examination of leading industry players.
Data is supplemented with details on the industry past performance, present analysis and future projections; also opportunities present in many countries.
The present report analyse the industry performance and reasons of changes in growth rates with future projection using dependent and independent variables with the help of tools like SPSS.
Report has covered a section of driving forces which helps to understand the present performance and impact over future.