Integrated Cardiology Devices Market Flourishes Relentlessly; Asserts MRFR Unleashing Industry Forecast Up To 2023

Global Integrated Cardiology Devices Market - Overview

The Global Integrated Cardiology Devices Market is growing with a rapid pace. According to a recent study report published by the Market Research Future, the Global Integrated Cardiology Devices Market is booming and expected to gain prominence over the forecast period and is projected to grow a sound pace. The market is projected to demonstrate a sound growth by 2023, surpassing its previous growth records in terms of value with a sound CAGR during the anticipated period (2017-2023).

Integrated cardiology devices are equipment which surgeons use for critical cardiac surgeries. These modern devices are extensively utilised for early diagnosis ensuring better treatment of various cardiovascular diseases. In recent years, growth has been observed in the integrated cardiology devices. Increase prevalence of the cardiovascular diseases is the major driving factor for the market growth. According to World Health Organization, approximately 30% of the deaths across the globe are caused due to heart diseases. Moreover, growing adoption rates of minimally invasive surgeries favoured by continuous developments within the healthcare sector boost the market growth. However, factors such as lack of awareness and expensive treatment is estimated to restrain the market growth during the forecast period.

Global Integrated Cardiology Devices Market - Competitive Analysis

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) and others are some of the prominent players at the forefront of competition in the Global Integrated Cardiology Devices Market and are profiled in MRFR Analysis. 

Characterized by the presence of several well-established and small players, the Global Integrated Cardiology Devices Market appears to be highly competitive and fragmented. International players are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing.  The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.

Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.

In August, 2016- Medtronic, the global leader in medical technology, completed their acquisition of HeartWare International, Inc., a leading innovator of less-invasive, miniaturized, mechanical circulatory support technologies (MCS) for treating patients with advanced heart failure. HeartWare became part of the Heart Failure business within the Medtronic Cardiac Rhythm and Heart Failure division. Under the terms of the transaction, each outstanding share of HeartWare common stock was converted into the right to receive USD 58.00 in cash.

In January, 2017- Abbott completed the acquisition of St. Jude Medical, Inc., establishing the company as a leader in the medical device arena. The transaction provided Abbott with expanded opportunities for future growth and is an important part of the company's ongoing effort to develop a strong, diverse portfolio of devices, diagnostics, nutritionals and branded generic pharmaceuticals. 

In July, 2016- Boston Scientific Corporation acquired Cosman Medical, Inc., a privately held Burlington, Mass. manufacturer of radiofrequency ablation (RFA) systems. The Cosman Medical team and products became a part of the Boston Scientific Neuromodulation business, which offered a range of Spinal Cord Stimulator (SCS) systems to treat patients with chronic pain, and Deep Brain Stimulation systems for the treatment of Parkinson's disease, dystonia and essential tremor.

In September, 2016- Johnson & Johnson announced that the company entered into a definitive agreement to acquire Abbott Medical Optics (AMO), a wholly-owned subsidiary of Abbott Laboratories, for USD 4.325 billion in cash. AMO reported sales of USD 1.1 billion for 2015. The acquisition included ophthalmic products in three business segments: cataract surgery, laser refractive surgery and consumer eye health.

Global Integrated Cardiology Devices Market -

Regional Analysis

The Americas accounts for a significant market share. High healthcare expenditure, rising number of the cardiac services, especially within the U.S. and Canada region are the major drivers for market growth within the region. Europe is the second largest market in the world. Growing medical devices industry and healthcare penetration drives the market within the region. The European market growth is led by countries such as Germany and France. Germany is expected to be the fastest growing market over the assessment period due to its large medical devices industry. Asia Pacific region is expected to grow rapidly. On the other hand, the Middle East and Africa region holds the least market share.  

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