The Canada Cardiovascular Devices Market is expected to register a CAGR of 3.8% during the forecast period. The major factors driving the growth of the market in Canada are due to the increasing burden of cardiovascular diseases and increased adoption of minimally invasive procedures.

As per the Heart and Stroke Foundation 2019 report, each year more than 62,000 people get attack with stroke in Canada, and that number is expected to rise. More than 405,000 people in the country live with the effects of stroke. Furthermore, the number of people who die in the hospital within 90 days is 7.6 times higher for people with heart valve disease and heart failure in comparison to heart valve disease alone.

As per the Heart & Stroke’s analysis of Canadian hospitalization data, between 2007-2017, there was a 68% increase in hospitalizations across all age groups for heart valve disease. Thus, owing to the high prevalence of heart diseases in Canada which is expected to show a significant growth rate 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) is driving its greater adoption, especially in the home healthcare segment. Moreover, a high prevalence of cardiovascular diseases (CVD) in Canada 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.

As per the Heart and Stroke Foundation 2019 report, in Canada, each more than 5,000 people die due to heart failure. In fact, at least 600,000 people in Canada live with heart failure and 50,000 new cases are diagnosed each year. Thus, owing to the above factors the segment is expected to show growth in the near future.

Competitive Landscape

The Canada 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, Medtronic PLC, Cardinal Health Inc., Biotronik, and Siemens Healthineers AG.

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