The Germany Cardiovascular Devices Market is expected to register a CAGR of 5.6% during the forecast period. The major factors driving the growth of the market in Germany are technological advancements, increasing cases of cardiovascular diseases, and increased adoption of minimally invasive procedures.
As per Eurostat 2019 report, in 2017 , in Germany around 29% of surgical operations and procedures performed related to diseases of the circulatory system which was considerably higher than in any of the other EU Member States. More number of population are undergoing cardiopulmonary bypass procedures in this country due to cardiovascular diseases which ultimately increases the use of cardiovascular devices and shows positive impact on market.
Thus, owing to the above-mentioned factors the market is expected to show growth over the forecast period. However, stringent regulatory policies and the high cost of instruments and procedures are some of the major factors restraining market growth.
Key Market Trends
Electrocardiogram (ECG) is Expected to Dominate the Diagnostic And Monitoring Segment Over the Forecast Period
An electrocardiogram (ECG) records the electrical signals from the heart. It is a common and painless test used to detect heart problems and monitor the heart's health.
Currently, there are portable and compact electrocardiogram (ECG) is driving its greater adoption, especially in the home healthcare segment. Due to rising cases of cardiovascular diseases (CVD), wherein long-term ECG monitoring is necessary and with the introduction of wireless ECG, doctors can monitor and diagnose the patient remotely on time, which further fuels the market growth.
As per Eurostat 2019 report, in 2017 approximately 48,000 heart bypasses were conducted in Germany. Germany recorded the highest number of operations, and this was the fourth highest frequency when taking account of the population size (58.5 per 100000 inhabitants).
Therefore, the growing demand for minimally invasive surgeries and technological advancements is expected to drive the market in the near future.
Competitive Landscape
The Germany Cardiovascular Devices market is consolidated competitive. The major players have established themselves in specific segments of the market. Some of the players who are currently dominating the market are Abbott Laboratories, Boston Scientific Corporation, Cardinal Health Inc, Edwards Lifesciences, GE Healthcare, W. L. Gore & Associates, Inc, Medtronic PLC, Biotronik, Siemens Healthineers AG, and Canon Medical Systems Corporation.
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