Sweden Cardiovascular Devices Market Outlook
The Sweden cardiovascular devices market size was valued at USD XX Billion in 2022 and likely reach to USD XX Billion by 2031, expanding at at CAGR of 6.1% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing morbidity and mortality of cardiovascular diseases.
Cardiovascular diseases are defined as a group of disorders of the heart and blood vessels. The cardiovascular diseases broadly include coronary heart disease, cerebro vascular disease, peripheral arterial disease, rheumatic heart disease, congenital heart disease, and deep vein thrombosis & pulmonary embolism.
The rheumatic heart disease damages the heart muscle and heart valves from rheumatic fever, which is caused by streptococcal bacteria. The congenital heart disease affects the normal development and functioning of the heart, which is caused by malformations of the heart structure from the birth time.
The heart attacks and strokes are the acute events caused by the blockage that prevents blood from flowing to the heart or brain. The most common reason for heart attack is the build-up of fatty deposits on the inner walls of the blood vessels that supply the heart or brain.
On the other hand, the strokes are caused by bleeding from a blood vessel in the brain and blood clotting. The unhealthy diet, physical inactivity, and smoking are the most common factors that are rising the prevalence of serious heart disorders.
The high blood pressure, increased blood glucose level, raised blood lipids, and obesity are the behavioral risk factors of a heart disease. The intermediate risks factors increase the risk of heart attack, stroke, heart failure and other complications.
The cessation of tobacco use, reduction of salt in the diet, eating fruit & vegetables, regular physical activity, and avoiding harmful use of alcohol are some of the effective measures that aid in reducing the risk of cardiovascular disease. Additionally, the regular drug treatments for hypertension, diabetes, and high blood lipids are required for prevention of heart attacks among the patients.
The COVID-19 pandemic has affected almost every industry including the healthcare industry. The high risk of developing serious illness due to coronavirus disease has made it challenging for several other healthcare problems for the patients having heart diseses.
Therefore, the large scale manufacturing of critical care devices for the patients having cardiovascular disorders has fuel the expansion of the market during the pandemic situations.
Furthermore, the outbreak of coronavirus disease has resulted in long-term association between healthcare and non-healthcare industries to manufacture home care devices. This resulted into many opportunities for the expansion of cardiovascular devices market.
Sweden Cardiovascular Devices Market Trends, Drivers, Restraints, and Opportunities
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Increasing hospitalization of middle-aged patients suffering from life threatening heart diseases to a significant number is anticipated to drive the market growth during the forecast period.
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Growing technological advancements to meet the demand for cardiovascular devices is expected to boost the market expansion during the projected period.
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Rising development of portable devices such as home sleep monitor is anticipated to spur the market growth in the coming years.
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Unfavorable reimbursement, large number of under diagnosed patients, and lack of awareness is expected to hamper the growth of market during the forecast period.
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Increasing government funding and rising demand for affordable home care therapeutic devices is anticipated to create the opportunities for the market in the coming years.
Scope of of Sweden Cardiovascular Devices Market Report
The report on the Sweden cardiovascular devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Cardiovascular Devices Market - Sweden Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Device Types (Diagnostic & Monitoring Devices [Remote Cardiac Monitoring, Electrocardiogram, and Others] and Therapeutic & Surgical Devices [Grafts, Cardiac Assist Devices, Catheter, Cardiac Rhythm Management Device, and Others])
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Country
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Sweden
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Biotronik; Cardinal Health; Abbott Laboratories; Medtronic; and Boston Scientific Corporation
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Sweden Cardiovascular Devices Market Segment Insights
Cardiac rhythm management device sub-segment is expected to expand at a significant CAGR
On the basis of device types, the market is bifurcated into diagnostic & monitoring devices and therapeutic & surgical devices. The diagnostic & monitoring devices segment is further segregated into remote cardiac monitoring, electrocardiogram, and others.
The therapeutic & surgical devices are categorized as grafts, cardiac assist devices, catheter, cardiac rhythm management device, and others.
The cardiac rhythm management device sub-segment is expected to expand at a significant CAGR during the forecast period owing to the growing burden of the aging population and rising prevalence of heart diseases is expected to promote the expansion of the market segment in the coming years.
On the other hand, the diagnostic & monitoring devices segment is expected to boost the growth of the market segment during the forecast period due to increasing hospitalization of cardiovascular disease patients and rising demand for advanced self-monitoring & diagnosis devices.
Segments
Device Types
- Diagnostic & Monitoring Devices
- Remote Cardiac Monitoring
- Electrocardiogram,
- Others
- Therapeutic & Surgical Devices
- Grafts, Cardiac Assist Devices
- Catheter
- Cardiac Rhythm Management Device
- Others
Country
Key Players
Competitive Landscape
The key players competing in the Sweden cardiovascular devices market are Biotronik; Cardinal Health; Abbott Laboratories; Medtronic; and Boston Scientific Corporation. The companies are engaging in vigorous acquisitions, collaborations, and ventures to consolidate their position in the market.
In November 2021, Medtronic planned to set up a global research & development center involving an investment of around USD 159 million at Hyderabad, India. The initiative facilitated the research work for medical products to treat over 70 health conditions that include cardiac devices, cranial & spine robotics, surgical tools, insulin pumps, patient monitoring systems, and others.
In January 2021, Boston Scientific Corporation announced the reallocation of its cardiac rhythm management and research & development resources. The reallocation aimed to increase productivity, innovation, and competitiveness to enhance the ability to deliver new products to the physicians and patients.
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