November 18, 2021 06:56 ET | Source: ReportLinker ReportLinker

New York, November 18, 2021 (GLOBE NEWSWIRE) - Reportlinker.com announced the release of the report "Cardiovascular Devices Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)"-https:// www. reportlinker.com/p06184943/?utm_source=GNW In addition, the delay of elective surgery due to COVID-19 related measures has had an adverse impact on the cardiovascular medical device market, especially in 2020. Although some cardiovascular surgeries are considered urgent, others have been postponed and postponed since the start of the global pandemic. Therefore, for some patients, lifestyle changes and medications can be temporarily changed instead of cardiovascular surgery. Another factor that has a negative impact on the market is that due to the reservation of medical resources for COVID-19 patients, the diagnosis of cardiovascular diseases has decreased. Due to the pandemic, many medical device companies have suffered losses in their cardiovascular device business. For example, Medtronic announced in its 2020 quarterly financial results that its heart and vascular business unit has reduced by 33%. However, there are several driving factors that are expected to boost the market during the forecast period. The main factor driving the development of the market is the rising global burden of various coronary heart diseases (such as stroke and cardiomyopathy), which cause the global burden of heart death. It was found that cardiovascular diseases are the most common worldwide and they are the main cause of death. According to the World Health Organization's 2020 update, ischemic heart disease accounts for 16% of the world's total deaths. Since 2000, the largest increase in the number of deaths has been ischemic heart disease. In 2019, the number of deaths increased by more than 2 million to 8.9 million. Such a high prevalence has brought a huge economic burden to the health care system of each country. According to the 2018 white paper of the Global Recycling Health Alliance, by 2030, the total global CVD cost will rise from approximately US$957 billion in 2015 to US$1,044 billion. In addition, the technology used to develop cardiac devices has improved significantly in the past decade, and the indications for these devices have expanded. This has led to more and more patients using cardiology equipment for management, resulting in exponential treatment and monitoring results. Artificial intelligence is such an advancement that has had a major positive impact on cardiology and improved the ability to diagnose certain heart diseases. For example, in October 2020, GE Healthcare received 510k approval from the U.S. FDA. Its ultra-violent cardiovascular ultrasound system package includes new features based on artificial intelligence (AI), allowing clinicians to consistently obtain faster and More repeatable inspections. However, strict regulatory policies are expected to become one of the main factors restraining the growth of the cardiovascular device market. In addition, if the equipment does not meet the guidelines mentioned by the regulatory agency, they will not be approved in the market, which may result in significant losses in the manufacturer’s investment. When the device does not meet USFDA standards, the possibility of device recall is very high, in the case of cardiovascular devices, which will have a negative impact on the researched market. For example, in February 2020, the U.S. Food and Drug Administration issued a Class I recall of Abbott’s NC Trek RX and NC Traveler RX coronary dilatation catheters due to the inability to deflate balloons (4.0 mm, 4.5 mm, and 5.00 mm in diameter). Main market trends The ECG sub-segment dominates the diagnostic and monitoring equipment segment. In terms of diagnostics and monitoring, a new generation of portable and compact ECGs is driving its wider adoption, especially in the home healthcare sector. The incidence of cardiovascular disease (CVD) has increased, so long-term ECG monitoring is required. In addition, with the introduction of wireless ECG, doctors can remotely monitor and diagnose patients in a timely manner, which has further promoted the development of the market. In September 2020, Cardiologs, an artificial intelligence (AI) cardiology diagnostic company, signed an exclusive distribution agreement with MicroPort CRM in France to resell its Holter ECG cloud analysis solution. Among the new technologies of cardiac devices, wearable smart devices equipped with heart monitoring functions such as bracelets, watches, and rings have become the norm for many people around the world. In September 2020, Fitbit's heart monitoring electrocardiogram (EKG) application on Fitbit's new Sense smartwatch was approved by the US FDA. This function can track the heart rhythm and look for signs of atrial fibrillation, which is the most common type of arrhythmia. In October 2019, digital healthcare company iRhythm launched the Zio system in the UK to support the identification and clinical diagnosis of arrhythmias, such as atrial fibrillation (AF). The Zio system is a small wearable heart monitor that can be connected to the patient's chest for up to 14 days. With the rapid pace of technological advancement in cardiac monitoring and diagnostic equipment, the future of cardiovascular equipment looks promising. The United States is expected to dominate the market during the forecast period due to the high prevalence of cardiovascular diseases, the high adoption rate of minimally invasive surgery, the existence of reimbursements, the increase in the elderly population, and the high demand for continuous and home monitoring. According to a 2018 study by the American Heart Association, heart disease accounts for one-seventh of all deaths in the United States. Coronary heart disease is the leading cause of death from cardiovascular diseases in the United States (43.8%), followed by stroke (16.8%), heart failure (9.0%), hypertension (9.4%), arterial disease (3.1%) and other cardiovascular diseases ( 17.9%). This situation has led to a higher demand for better treatments with effective drugs, and has promoted the development of the US market. In addition, few major market players in the country are developing new products and technologies to compete with existing products, while other major market players are acquiring and cooperating with other companies in the market. In September 2020, Abbott restarted the LIFE-BTK clinical trial to evaluate the safety and effectiveness of the company's new Esprit BTK everolimus-eluting absorbable stent system. This is the first investigational device exemption (IDE) trial in the United States to evaluate the use of fully bioabsorbable stents in the treatment of subknee arterial obstruction or severe limb ischemia (CLI) in people struggling with advanced peripheral arterial disease (PAD). In addition, supportive awareness initiatives aimed at raising disease awareness are expected to support the cardiovascular device market in North America. For example, in 2020, Mexico joined the HEARTS program to strengthen primary care for CVD. The initiative is promoted by the Pan American Health Organization/World Health Organization (PAHO/WHO) and aims to improve the prevention and control of hypertension at the primary care level. Competitive landscape The cardiovascular equipment market is integrated and competitive. The main players have established their positions in specific market sectors. In addition, these companies are competing with global players as well as mature local players in emerging regions. Major players are developing and launching novel products and technologies to compete with existing products, while other players are acquiring and cooperating with other companies in the market. For example, in January 2020, Medtronic PLC's Micra AV was approved by the US Food and Drug Administration (FDA), which is the world's smallest AV synchronous lead-free pacemaker. Other benefits: Market estimates (ME) in Excel format. 3 months of analyst support. Read the full report: https://www.reportlinker.com/p06184943/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research Solution. Reportlinker finds and organizes the latest industry data so that you can get all the market research you need instantly in one place. __________________________