Canada Cardiovascular Devices Market By Device Type (Diagnostic and Monitoring Devices v/s Surgical Devices), By Application (Coronary Artery Disease, Cardiac Arrhythmia, Heart Failure, Others), By End User (Hospitals, Diagnostic Centers, Others) and By Region and Competition, Forecast & Opportunities, 2018-2028F
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCanada Cardiovascular Devices Market By Device Type (Diagnostic and Monitoring Devices v/s Surgical Devices), By Application (Coronary Artery Disease, Cardiac Arrhythmia, Heart Failure, Others), By End User (Hospitals, Diagnostic Centers, Others) and By Region and Competition, Forecast & Opportunities, 2018-2028F
For instance, as per the data published by the Heart and Stroke Foundation Canada in February 2022, 750,000 people suffer from heart failure and 100,000 people are diagnosed with this incurable condition each year in Canada.
Increasing Prevalence of Cardiovascular Diseases
The increasing prevalence of cardiovascular diseases is a major growth driver in the Canadian cardiovascular devices market. Cardiovascular diseases are a leading cause of death in Canada, and the aging population and unhealthy lifestyle habits, such as poor diet and lack of exercise, are further contributing to the rising prevalence of these diseases.
The Canadian healthcare system is also investing heavily in the efficient diagnosis and treatment of cardiovascular diseases. This is driving the adoption of advanced technologies and treatments, including the use of remote patient monitoring and minimally invasive procedures. Furthermore, the Canadian government is promoting the growth of the cardiovascular devices market by supporting research and development in this field. For instance, the Canadian Institutes of Health Research (CIHR) has invested in several initiatives aimed at improving cardiovascular health, including the development of new devices and treatments.
Technological Advancements
Technological advancements have a significant impact on the growth of the Canadian cardiovascular devices market. Advances in minimally invasive procedures have reduced the need for open-heart surgery, resulting in shorter hospital stays, faster recovery times, and lower healthcare costs. These procedures rely on advanced imaging techniques, such as 3D imaging, to guide the placement of cardiovascular devices such as stents, pacemakers, and heart valves.
Wearable devices, such as smartwatches and fitness trackers, are becoming increasingly popular for monitoring heart rate, blood pressure, and other cardiovascular health metrics. These devices are affordable, easy to use, and can provide patients with real-time feedback on their health, enabling them to take a more active role in managing their cardiovascular health.
Growing Adoption of Remote Patient Monitoring
The growing adoption of Remote Patient Monitoring (RPM) is having a significant impact on the growth of the Canadian cardiovascular devices market. RPM involves monitoring patient health remotely, enabling healthcare professionals to provide more personalized care, and improve patient outcomes.
Government Support
Government support plays a crucial role in the growth of the Canadian cardiovascular devices market. The Canadian government has implemented several initiatives to support the development and adoption of cardiovascular devices, creating a favorable environment for companies operating in this field.
Increasing Awareness
Increasing awareness of cardiovascular diseases and the importance of early detection and treatment is having a significant impact on the growth of the Canadian cardiovascular devices market. As more people become aware of the risks associated with cardiovascular diseases, they are seeking out preventive measures and treatment options, driving the demand for cardiovascular devices.
Recent Development
- Medtronic’sMicra AVIn 2021, Medtronic launched the Micra AV, a miniaturized pacemaker designed toprovide atrioventricular (AV) synchrony without the need for a lead in theheart. The device is less than one-tenth the size of a traditional pacemakerand can be implanted directly into the heart using a minimally invasiveprocedure.
- Abbott’sMitraClip G4In 2020, Abbott launched the MitraClip G4, a minimally invasive device used torepair a leaky mitral valve in the heart. The device can be implanted using acatheter-based procedure, avoiding the need for open-heart surgery.
- BostonScientific’s Watchman FLXIn 2019, Boston Scientific launched the Watchman FLX, a device used to reducethe risk of stroke in patients with atrial fibrillation. The device isimplanted in the heart using a minimally invasive procedure and blocks the leftatrial appendage, where blood clots can form and lead to stroke.
Market Segmentation
The Canada Cardiovascular Devices Market can be segmented by Device Type, Application, End User and Region. Based on Device Type, the market can be divided into Diagnostic and Monitoring Devices v/s Surgical Devices. Based on Application, the market can be segmented into Coronary Artery Disease, Cardiac Arrhythmia, Heart Failure, and Others. Based on End User, the market can be grouped into Hospitals, Diagnostic Centers, and Others.
Market Players
Abbott Canada, Cardinal Health Canada Inc., GE Healthcare Canada Inc, W L Gore & Associates Canada Inc, Medtronic of Canada Ltd, Biotronik Canada Inc, Siemens Healthcare Limited., Canon Medical Systems Canada Ltd., B. Braun of Canada., LivaNova PLC. are some of the leading players operating in the Canada cardiovascular devices market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | By Type of Device By Application By End User By Region |
| Regional scope | Ontario region; Quebec region; Alberta region; British Columbia region; Saskatchewan and Manitoba region; Rest of Canada |
| Key companies profiled | Abbott Canada, Cardinal Health Canada Inc., GE Healthcare Canada Inc, W L Gore & Associates Canada Inc, Medtronic of Canada Ltd, Biotronik Canada Inc, Siemens Healthcare Limited., Canon Medical Systems Canada Ltd., B. Braun of Canada., LivaNova PLC. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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