The Europe cardiovascular devices market is expected to reach US$ 20,943.1 Mn in 2027 from US$ 12,351.9 Mn in 2018. The market is estimated to grow with a CAGR of 6.2% from 2019-2027. The growth of the market is driven by the factors such as, significantly increasing prevalence of cardiovascular diseases and increasing elderly population. However, the market is likely to slower down its growth due to high cost of products and procedures in the region.
The growing elderly population is the major cause of the heart diseases. The heart disease are mostly pone to the elderly people due to weak immunity and major other health problems. The general aging factors leads to stiffen the heart and blood vessels that leads to the heart disorders. As the age grows the systolic blood pressure also rises and it leads to an incidences of the cardiovascular diseases. Thus, the people with the age of 75 years and above high blood pressure is the common risk factor for the heart condition. Coronary artery disease and heart failure are the next caused conditions. In 2017, Europe had the maximum number of individuals with age of 60 and above. The fast and rapid ageing is occurring in other parts of the world as well, so that by 2050 all regions of the world. The number of older persons in the world is anticipated to be US$ 1.4 billion in 2030 and US$ 2.1 billion in 2050, and will rise above US$ 3.1 billion in 2100. The elderly population is more prompt to have atypical presentations, comorbid conditions, and unfavorable outcomes. The major reason for the disease are related to the structural and functional changes in the cardiovascular system associated with the aging. The rising geriatric population in the region leads to rise in cardiovascular disease which is likely to grow cardiovascular devices market in the forecast period.
Germany is expected to lead the market in the Europe region owing to increasing percentage of the incidences increases with the growing age and growing advanced technology. Moreover, rise in the prevalence of the cardiovascular diseases is majorly contributed by the elderly population helps to upsurge the market. Therefore, considering the above mentioned factors the growth of the market in the country is likely to contribute largest share in the Europe region during the forecast period.
Exhibit: Rest of Europe Cardiovascular Devices Market Revenue and Forecasts to 2027 (US$ Mn)
EUROPE CARDIOVASCULAR DEVICES - MARKET SEGMENTATION
- Electrocardiography (ECG)
- Cardiac Catheter
- Heart Valve
- Event Monitor
- Coronary Heart Disease
- Sudden Cardiac Arrest
- Cerebrovascular Heart Disease
By End User
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Cardiac Centers
- Boston Scientific Corporation
- Biosense Webster, Inc. (Johnson and Johnson)
- General Electric Company
- Koninklijke Philips N.V
- Siemens AG,
- B. Braun Melsungen AG
- Edwards Lifesciences Corporation.