The Argentina Cardiovascular Devices Market is expected to register a CAGR of 2.1% during the forecast period. The major factors driving the growth of the market in Argentina are due to the increasing burden of cardiovascular diseases and increased adoption of minimally invasive procedures.
According to the Global Burden of Disease (GBD)/Institute for Health Metrics and Evaluation 2017 report, estimated that in 2017, the prevalence rate of cardiovascular diseases in Argentina was 7084.9 cases (per 100,000 population). Furthermore, according to the World health organization (WHO) 2017 report, in Argentina, approximately 60,064 or 20.83% of total deaths were caused due to coronary heart disease in the year 2017. Although heart attack remains one of the top causes of death in Argentina.
Thus, owing to the above-mentioned factors the market is expected to show growth over the forecast period.
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) devices that help in monitoring the heart. 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 World Health Organization (WHO), in Argentina, in 2017, healthcare expenditure was more than 9.1% of Argentina’s gross domestic product (GDP), up from 7.54% in 2016. Moreover, healthcare expenditure increasing in the country which shows a positive impact on the market.
Thus, owing to the above-mentioned factors the segment is expected to show growth in the coming years.
The Argentina 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 W. L. Gore & Associates, Inc, Siemens Healthineers AG, Medtronic PLC, Canon Medical Systems Corporation, Philips Healthcare, Abbott Laboratories, Nihon Kohden Corporation, and Welch Allyn Inc.
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