The cardiology surgical & interventional cardiology devices market is expected to reach $83,128.34 million by 2022

The major factor that is driving the market is rise in aging population & thereby increase in the cardiovascular diseases. People above the age of 50 are more likely to suffer from coronary heart diseases, strokes & CVD’s. According to the data, which has been released by the World Health Organization (WHO) revealed that there are 17.5 million people in 2014 that die due to cardiovascular diseases which is almost 31% of the total worldwide deaths. Around 75% of deaths, are due to cardiovascular diseases which usually occur in the low & middle income group families. As the cardiology surgeries are quite costly with certain risk factors, and even it causes 3-5% of patient’s death possibly.

The cardiology surgical & interventional cardiology devices market is expected to reach $83,128.34 million by 2022 growing at 8% CAGR during 2016-2022. The major factor that is driving the market is rise in aging population & thereby increase in the cardiovascular diseases. People above the age of 50 are more likely to suffer from coronary heart diseases, strokes & CVD’s. According to the data, which has been released by the World Health Organization (WHO) revealed that there are 17.5 million people in 2014 that die due to cardiovascular diseases which is almost 31% of the total worldwide deaths. Around 75% of deaths, are due to cardiovascular diseases which usually occur in the low & middle income group families. As the cardiology surgeries are quite costly with certain risk factors, and even it causes 3-5% of patient’s death possibly.

Global increase in life style oriented diseases & fatalities
The increase in life style oriented diseases due to rise in the ageing population has acted as a major driver in the development of the cardiology surgical market. Developing regions like India & China are the major contibuting countries in this market due to huge increase in the population.According to an estimate China spends almost $40 billion on healthcare with respect to cardiovascular disease which accounts 4% of its national income. The American Heart Association stated that there will be an increase in CVD’s with 73% by 2030. The size of aging population in Spain, Canada and Austria will be double by 2025 which will directly increase the consumption of healthcare services. The rise in fatalities owing to cardiac related diseases has given a great rise to cardiology surgery market to grow. There are various kinds of heart surgeries that are performed by the surgeons, worldwide. The most common surgeries among them are CABG, , TLR, aneurysm repair, heart valve repair and replacement, arrhythmia treatment, , heart transplant, MIS and open heart surgeries. According to an estimate the number of strokes and heart attacks are on rise at a rapid pace. In US alone there are 0.25 million patients out of 0.92 million patients who loose their lives due to strokes and heart attack annually.

Global increase in healthcare spendings
According to economic co-operation & development, it is estimated that the healthcare spendings will increase to a huge extent in next 50 years. US government is expected to spend one third of its GDP on healthcare market. As per OECD, approximately 17.1% of GDP of US is being spent on healthcare market in 2013 which is almost 50% higher than that of France. In US, North America spends the highest in terms of healthcare across the world. The healthcare spending in U.S has shown a great improvement over the years and increased from $8467(in 2010) to $8895(in 2014). Overall the healthcare spending has increased in developed as well as developing countries. As the cardio surgeries are very costly but certain medicinal aids granted by the governmnent such as healthcare policies, reimburssment policies are also fuelling cardiology surgical devices market upwards.


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Company Name: Occams Business Research & Consulting Pvt. Ltd.
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Keywords : Medical, Cardiology, Medical Devices, Healthcare,

by Occams Business Research (few years ago!)

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