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Palo Alto, CA, United States, 2006/06/13 - Frost & Sullivan finds that North American Cardiovascular Devices Market earned revenues of $17.88 billion in 2005 and estimates this to reach $40.46 billion in 2011..
An increasing demand for minimally invasive surgeries amongst the rapidly aging population is expected to spark further growth in the cardiovascular devices market. Moreover, the cost efficiencies offered by lesser invasive methods expect to garner much favor amongst the healthcare payers as well.
Frost & Sullivan finds that North American Cardiovascular Devices Market earned revenues of $17.88 billion in 2005 and estimates this to reach $40.46 billion in 2011.
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By 2030, estimates of people aged 65 years and above will constitute 20 percent of the U.S. population, up 12.5 percent from 2005. This sector poses a significant opportunity for the cardiovascular devices industry, as the occurrence of heart related diseases is the highest in this age group.
“Demographics, historically has and will continue to be one of the major factors that drive growth in the cardiovascular devices market,” notes Frost & Sullivan Financial Analyst Sheetal Rajani.
Minimally invasive surgeries are gaining ground with both the patient population as well as cardiologists. These surgeries are associated with lesser trauma, shorter recovery time and lesser postoperative pain for the patient. Cardiologists stand to gain from the same too as the number of surgeries performed at a given time can increase.
“Companies need to continually invest in research and development in order to develop devices that could convert a surgery from an in-patient to an outpatient setting,” explains Rajani. “This will guarantee strong revenue growth and provide enhanced value to the patients as well as cardiologists.”
North American Cardiovascular Devices Market: Investment Analysis and Growth Opportunities is part of the Financial Benchmarking and Analysis in the Medical Devices Industry Subscription, which also includes research in the following: World Medical Devices Industry: Investment Analysis and Growth Opportunities. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews are available to the press.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
North American Cardiovascular Devices Market: Investment Analysis and Growth Opportunities