The United States Cardiovascular Devices Market is expected to register a CAGR of 4.8% during the forecast period. The major factors driving the growth of the market in the United States are due to the presence of established healthcare infrastructure, rapid technological advancements, increasing burden of cardiovascular diseases, and increased adoption of minimally invasive procedures.
As per Heart Disease & Stroke Statistical Fact Sheet 2020, estimates that a minimum of 40,000 infants is expected to be affected each year by congenital heart defects in the United States. Of these, about 25% or 2.4 (per 1,000 live births), require treatment in the first year of life. In addition, according to the Centers for Disease Control and Prevention (CDC), in the United States, the prevalence of atrial fibrillation is estimated to rise to 12.1 million by the year 2030.
Furthermore, due to ongoing development in the cardiovascular field and technological advancements are also expected to propel the growth of the United States cardiovascular devices market.
Key Market Trends
Electrocardiogram (ECG) is Expected to Dominate the Diagnostic And Monitoring Segment Over the Forecast Period
An electrocardiogram (ECG) records the electrical signals from the heart. It is a common and painless test used to detect heart problems and monitor the heart’s health.
Currently, there are portable and compact electrocardiogram (ECG) is driving its greater adoption, especially in the home healthcare segment. Moreover, there has been an increase in the incidence of cardiovascular diseases (CVD), wherein long-term ECG monitoring is necessary and with the introduction of wireless ECG, doctors can monitor and diagnose the patient remotely on time, which further fuels the market growth.
According to the Heart Disease and Stroke Statistics 2019 report, estimates that in 2019, coronary events were expected to occur in about 1,055,000 individuals, including 720,000 new and 335,000 recurrent coronary events in the United States.
Furthermore, increasing cardiovascular diseases, such as high blood pressure, arrhythmias, and stroke are increasing the demand for cardiovascular devices, along with growing demand for minimally invasive surgeries and technological advancements are also expected to drive the market in near future.
The United States cardiovascular devices market is consolidated competitive. The major players have established themselves in specific segments of the market. Some of the players who are currently dominating the market are Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences, Medtronic PLC, Cardinal Health Inc., GE Healthcare, Biotronik, Siemens Healthineers AG and W. L. Gore & Associates, Inc.
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