Global cardiac care medical equipments market is anticipated to grow significantly in the forecast period due to increase in number of cardiovascular disorders and rise in geriatric population. Cardiac care medical equipment are the healthcare devices that diagnose, treat and monitor heart abnormalities. They range from small, implantable, to larger external devices for diagnosis and treatment. Cardiac care medical equipment are categorized into diagnostic, monitoring and surgical devices.
Reasons for the growth of cardiac care medical equipments market include increase in number of cardiovascular patients, increasing healthcare expenditure, supportive government policies like reimbursement coverage, growing use of minimally or non-invasive devices on the global scale, and improving healthcare infrastructure. Additionally, rising use of robotic systems for cardiovascular treatments that increases the demand for cardio care medical equipment and increasing focus of governments on restricting hospital admissions to reduce HAIs (hospital acquired infections) by imposing penalties on them are propelling the market growth. However, cardiac care medical equipment market is hampered by lack of skilled professionals to perform cardiovascular surgeries with enhanced devices.
Some of the trends observed in this market include improving medical technology landscape, considerable growth in manufacturing and design of small portable devices for diagnosis and surgeries, and use of software as a differentiator in medical equipment.
Cardiac care medical equipment market is categorized based on type, product, end user, and geography. Based on type, market is divided into cardiac prosthetic devices, cardiac rhythm management devices, electrophysiology, cardiac monitoring and diagnostic devices, interventional cardiac medical devices, and peripheral vascular devices.
Based on product, cardiac care medical equipment market is bifurcated into defibrillators, catheters, holter monitors, ECG (electrocardiogram), implantable loop recorders, event monitors, pacemakers, MRI, stents, echocardiogram, PET scans, doppler fetal monitors, cardiac CT, and others. ECG (electrocardiogram), MRI, cardiac CT, event monitors, implantable loop recorders, PET scans, echocardiogram, holter monitors, and doppler fetal monitors are expected to lead the market due to compact designs, portability, and high adoption by hospitals on the global scale. Furthermore, devices like stents account for larger share of the market due to increase in demand for minimally invasive devices.
In terms of end user, market is divided into diagnostic centre, hospital, clinic, and others. Hospital segment holds larger share of the market due to increasing adoption, rise in admission of patients suffering from cardiovascular disorders and patient preference for improved healthcare services.
Geographically, market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is predicted to dominate the market owing to the factors like increasing adoption of technologically advanced medical equipment, high adoption of home healthcare equipment due to government regulations. Asia Pacific is also expected to contribute significantly due to increasing geriatric population and rise in number of cardiovascular devices.
The key players in cardiac care medical equipments market include St. Jude Medical, Abbott, Cook Medical, Johnson & Johnson, CR Bard, Medtronic, Terumo Cardiovascular Systems Corporation, Biotronik, Liva Nova, Cardinal Health Inc, Boston Scientific Corporation, and Becton Dickson Company among others.
Leading players of Cardiac Care Medical Equipments including:
• St. Jude Medical (Abbott)
• Boston Scientific
• GE Healthcare
• Philips Healthcare
• Biotronik, Inc.
• Thoratec Corporation
• LivaNova (Sorin)
• Cardiac Science
• Getinge (Maquet)
• Berlin Heart
Market split by Type, can be divided into:
• Intra-aortic Balloon Pumps
• Cardiopulmonary Bypass Pumps
• Cardiac Ultrasound Devices
• CRM Device
• External Defibrillators
Market split by Application, can be divided into:
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Research Support Specialist, USA