Indian cardiovascular devices market is projected to grow at a significant CAGR of 7.2% during the forecast period. Government is actively focused on improving healthcare infrastructure in the country due to growing number of chronic diseases including cardiovascular diseases, cancer, Alzheimer’s and others. For instance, Indian government has launched Ayushman Bharat, world’s largest government funded scheme in September 2018. It is a health premium program focused on affordable and better healthcare services to the people of the country. According to IBEF (India Brand Equity Foundation), India’s medical tourism industry is growing with substantial rate of 22-25% and is estimated to increase its contribution to India’s healthcare industry in the future.
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With the increasing healthcare investment and expenditure such as insurance premiums, reimbursement policies, facilities for various cardiovascular diseases are also being developed. Cardiovascular disease treatment is one of the focus areas for healthcare providers due to increasing cardiovascular diseases. Change in lifestyle is propelling the number of cardiovascular diseases in India. People are shifting towards luxury services due to increasing per capita income, thus, change in lifestyle is reducing physical activities among people. Therefore, people are becoming more prone to cardiovascular diseases. Thus, India is considered as one of the potential markets for cardiovascular devices due to increasing application of cardiac surgeries which is estimated to grow with substantial rate during the forecast period.
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Market Coverage
- Study Period- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Type
- Key Companies Profiled- Abbott Laboratories, Boston Scientific Corp., Edwards Lifesciences Corp., Medtronic PLC, Terumo Corp., Becton, Dickinson and Co., Getinge AB, VitalConnect, Inc., and Johnson & Johnson Services, Inc.
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in base year?
- Which segment/region will project fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
o Recovery Timeline
o Deviation from pre-COVID
o Most affected region/segment
o Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Indian Cardiovascular Devices Market – Segmentation
By Type
- Diagnostic and Monitoring Devices
o MRI
o Electrocardiogram (ECG)
o Remote Cardiac Monitoring
o Cardiac CT
o Others (PET scan)
- Surgical Devices
o Stents
o Catheters
o Cardiac Assist Devices
o Cardiac Rhythm Management Device
o Others (Heart Valves and Grafts)
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