A report forecasts that the global cardiac medical devices market will grow to $65.6 billion by 2015. Between 2009 and 2015, the market for these devices will have grown at the compound annual growth rate of 9.8%.
Not surprisingly, the report by ResearchandMarkets found that North America accounts for the lion's share of the cardiac devices market at 40% while the Europe claims almost 30%. Compared with a CAGR of 9.8% globally, Asia-Pacific's growth rate of 11.6% makes it the fastest-growing region for cardiac medical devices. In the Asia-Pacific region, that market is expected to be worth $17.9 billion by 2017.
Cardiac rhythm management devices make up the largest share globally of the overall cardiac devices market, accounting for nearly 5%.
Here is a breakdown of the 2017 market values and CAGR of each segment that makes up the cardiac medical devices market:
- Cardiac Rhythm Management Devices (CRM) $22.3 billion at the rate of 9.9%
- Interventional Cardiac Devices (ICD) 15.7 billion at the rate of10.6%
- Cardiac Monitoring and Diagnostic Devices (CM&D) 12.3 billion at the rate of 11.6%
- Peripheral Vascular Devices (PVD) 5.5 billion at the rate of 10.3%
- Electrophysiology (EP) Devices 4.4 billion at the rate of 10.3%
- Cardiac Prosthetic Devices (CPD) 2.9 billion at the rate of 10.1
|To learn more about cardiac medical devices, many of which are implantables, register for UBM Canon's MEDevice San Diego Conference & Showcase, Sept. 26-27|