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Cardiovascular diseases (CVD) are one of the foremost public health challenge across the globe. According to World Organization (WHO) estimate, about 17.5 million people died from cardiovascular diseases in 2012, accounting for 31% of all global deaths. Around one third of CVD deaths take place in the low and middle income countries. By the year 2030, more than 23 million people are likely to die annually from cardiovascular diseases. There is an unmet market need for better diagnostics and therapeutics to prevent the mortality from CVDs. Major factors driving the global cardiac equipment market are, rising geriatric population along with higher incidence of coronary artery diseases, stroke, heart failure, hypertension and diabetes. Furthermore, unhealthy sedentary lifestyle, smoking tobacco, and the high intake of salt and cholesterol, supplement the developments in this market. However, the high cost of treatment and a stringent regulatory environment, are likely to restrain the market growth.
The global cardiac equipment market is segmented on the basis of type and geography. On the basis of type, the market is segmented into, Balloon pumps, Cardiopulmonary bypass pumps, Cardiac ultrasound devices, Implantable Cardioverter Defibrillator (ICD), Cardiac Resynchronization Therapy (CRT) Devices such as CRT Pacemaker (CRT-P) and CRT Defibrillator (CRT-D), Defibrillators Pacemakers, Ventricular assist devices and others such as Total Artificial Heart and Counterpulsation Devices. Geographically, the market is segmented across four regions namely North America, Europe, Asia Pacific, and LAMEA.
New product approval and launch are among the few strategies adopted by top industry players. In April 2015, HeartWare International procured the Canadian marketing approval for HeartWare Ventricular Assist System, a small circulatory support device. Similarly, Philips has recently launched VesselNavigator, a 3D Navigation System intended for minimally invasive treatments of vascular diseases. In March 2014, St. Jude Medical announced the approval of three pacemakers, Allure Quadra CRT-P, Assurity and Endurity pacemakers. The companies profiled in this report include, Medtronic plc, Boston Scientific Corporation, St. Jude Medical, Inc., Thoratec Corporation, HeartWare Inc., SynCardia Systems, Inc., Vasomedical, Inc., Sorin Group, Biotronik, Inc. and Berlin Heart, Inc.
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