The burden of CVD (cardiovascular Diseases) is increasing in India and deaths due to these diseases are on the rise. National Institute of Health has stated that the age-standardized prevalence of CVD in India per 100,000 people was around 5,681 during the year 2016-2017.

It has been observed that the prevalence of heart diseases and stroke in India has increased by 50% from 1990 to 2016. This indicates the rising burden of the diseases on India. During the year 2016-2017, CVD alone contributed to 28.1% of the total deaths in India among which, heart disease caused 17?8% whereas stroke contributed 7?1% of total deaths. Approximately 300,000 angioplasties are done in the country.

Added to that, major cities across the country are having modern private specialty hospitals to give proper treatment for CVD. For instance, Asian Heart Institute in Mumbai, Narayana Hrudulaya in Bangalore and the B. M. Birla Heart Research Centre in Kolkata are having modern facilities to treat CVD. Also, general private hospitals such as Appollo and Fortis along with the hospitals run by government organizations are there in India which are having CVD treatment facilities.

Therefore, it is indicated that the market for CVD in India is growing rapidly due to the rising burden of cardiovascular diseases along with the modern facilities that are available in the country.

Key Market Trends

Cardiac Rhythm Management Devices are Expected to Witness Rapid Growth

In recent years, heart rhythm problems (arrhythmias) have become prevalent and are expected to further experience an increase. According to the PAN Arrhythmia and Heart Failure Registry (PANARM HF), in 2017, approximately 15% of the total heart failure patients suffer from atrial fibrillation in India. This is representing an opportunity for cardiac rhythm management devices in India.

Increasing cardiovascular diseases, such as arrhythmias, stroke, and high blood pressure, are increasing the demand for cardiac rhythm management devices across the country.

Cardiac rhythm management (CRM) devices, including pacemakers, implantable defibrillators, cardiac resynchronization therapy, etc., are among the best treatment solutions for Cardiac arrhythmias. The pacemaker implant rate is gradually increasing, in line with the aging population. The technological advancements are leading to increasing adoption of the pacemakers, and one of the recent advancements include the development of a leadless pacemaker that is one-tenth the size of the predecessor devices by Medtronic.

In addition, the adoption rate of cardiac defibrillators and cardiac resynchronization therapies is also growing.

Competitive Landscape

The market for cardiovascular devices in India is comprised of several global players along with the local players. However, the number of local players in the country is less and the market share is majorly grabbed by global companies such as Abbott Vascular, Boston Scientific, Medtronic, etc. Since India is a growing economy, more global companies are expected to penetrate the market in the coming future.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support