Integrated cardiology devices are equipment in which surgeons perform critical cardiac surgeries using multiple devices. Integrated cardiology devices are the future devices for human circulatory system. These modern devices are used for early diagnosis and better treatment of diseases. During last few years, sheer growth is observed in integrated cardiology devices due to increase in heart related problems. In recent times this is the most promising market. According to WHO 30% of the deaths caused globally is due to heart diseases and there were an estimated 17.5 million deaths from cardiovascular diseases worldwide in 2015 alone and the cost of readmissions for cardiovascular diseases is extremely high.
The major driving forces are increasing prevalence of cardiovascular diseases, growing adoption rates of minimally invasive surgeries and technological advances introduced in this field. Furthermore, the dominance of heart related diseases are increasing due to unhealthy lifestyle habits, for example lack of physical activities, high tobacco intake, and consumption of alcohol. Furthermore technological advancements such as miniaturization, increasing efficacy and efficiency of devices is a major driving factor. The integrated cardiology devices market also favors small innovative players with proprietary novel technologies and strong intellectual property rights. Thus a strong regulatory environment and innovation ecology is necessary which will result in greater investment and lead to a strong future market.
Lack of knowledge among people and expensive treatment are the factors which restrained the growth of the market. The lack of infrastructure and specialty hospitals in the developing and poor regions of the world is another hindering factor for the market.
The global integrated cardiology devices market is expected to grow at a CAGR of 12.4% during forecasted period 2017-2023
Segmentation
The global integrated cardiology devices market is segmented on the basis of types, applications and end users.
Based on types, the market is segmented as Cardiology EMR Software, EHR (Electronic health record), FFR (fractional flow reserve), Optical Coherence Tomography, others.
On the basis of application, they are segmented sudden cardiac arrest, internal monitoring, Cardiac resynchronization therapy, Cardiothoracic surgery, others. Cardiac Resynchronization Therapy (CRT) is an effective therapy in heart failure.
On the basis of end users, the market is segmented into catheterization laboratories, Hospitals and others.
Key Players
Medtronic (US), Boston Scientific Corporation (US), Jude Medical (US), Edwards Lifesciences Corporation (US), Abbott Laboratories (US), Johnson and Johnson (US), Getinge (Sweden), Terumo Corporation (Japan), Lepumedical (Bejing), Acrostak (Switzerland), Koninklijke Philips N.V. (Netherlands), Athenahealth, Inc. (U.S),others.
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