India Cardiovascular Devices Market is expected to show robust growth due to increasing cases of heart attacks & strokes in the forecast period, FY2017-FY2027F.
According to TechSci report on, “India Cardiovascular Devices Market, By Region, Competition Forecast & Opportunities, FY2017 – FY2027F”, India cardiovascular devices market stood at USD1413.15 million in FY2021 and is anticipated to grow with a CAGR of 7.87% from FY2022E-FY2027F on account of the increasing geriatric population in the country which is susceptible to different types of cardiovascular diseases such as coronary heart disease, congenital heart disease, deep vein thrombosis, etc. This in turn is expected to increase the demand for different cardiovascular diseases thereby supporting the growth of India Cardiovascular Devices Market during the forecast period. Furthermore, adoption of sedentary lifestyle especially in the metro cities has led to an increase in incidences of several lifestyle associated diseases which contribute to different cardiovascular diseases thereby driving the growth of India Cardiovascular Devices Market through 2027. However, the sudden outbreak and spread of pandemic COVID-19 has impacted the cardiovascular devices market since a lot of elective surgeries were postponed or cancelled. This significantly hampered the growth of India Cardiovascular Devices Market. However, high cost of cardiovascular devices can hamper the market growth through 2027.
Browse over 22 market data Figures spread through 70 Pages and an in-depth TOC on “India Cardiovascular Devices Market”
The India cardiovascular devices market segmentation is based on type, application, end user, competitional landscape, and regional distribution. Based on type, the market is further fragmented into diagnostic & monitoring devices and surgical devices. The diagnostic & monitoring devices segment dominated the market in 2021 with an overall market share of 60.54% on account of rising healthcare awareness and focus on early disease diagnosis and treatment. While surgical devices segment will register the highest growth in the coming years on account of growing volume of surgical procedures in India.
Based on application, the market is segmented into coronary artery disease, cardiac arrhythmia, heart failure, and others. Coronary artery disease is a severe heart disease in which arteries experience blockage and thus the blood doesn’t reach the heart muscles causing heart attack. The disease is a leading cause of death claiming approximately 18% of the deaths every year. Thus, demand for the diagnosing, monitoring, and surgical devices for the treatment and monitoring the conditions of the patient is driving the increased application of cardiovascular devices for coronary artery diseases. The sub-segment is thus anticipated to hold largest revenue shares of the market and dominate the market in the upcoming five years.
A partial list of market players in the field includes:
- India Medtronic Pvt Ltd
- Siemens Healthineers India
- Wipro GE Healthcare Pvt. Ltd.
- Boston Scientific India Private Limited
- Philips Healthcare India
- B. Braun Medical (India) Pvt. Ltd.
- Abbott India Ltd.
- Terumo India Private Limited
- BIOTRONIK Medical Devices India Private Ltd.
- BPL Medical Technologies Private Limited
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“India Cardiovascular Devices Market is expected to witness significant growth in the coming years on account of the supportive government policies such as 100% FDI in Healthcare Industry, Make in India, among others. Also, improving healthcare infrastructure in the country is further expected to support the market growth over the next few years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Cardiovascular Devices Market By Type (Diagnostic & Monitoring Devices v/s Surgical Devices), By Application (Coronary Artery Disease, Cardiac Arrhythmia, Heart Failure, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Others), By Source (Import v/s Domestic), By Region, Competition Forecast & Opportunities, FY2027F” has evaluated the future growth potential of India cardiovascular devices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India cardiovascular devices market.
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