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Affordability brings along with it, life-style changes - a trend that's driving the increasing incidences of cardiovascular diseases in all major economies of the world.
Driven by a positive demographic outlook, increasing awareness and access to quality healthcare, the South American cardiovascular devices industry is expected to continue its growth trajectory. This sector remains the largest among all medical equipment sectors, globally.
Cardiovascular disease is the leading cause of death in the majority countries throughout South America. World Health Organisation forecasts indicate that the number of deaths in the region attributed to cardiovascular disease will increase by more than 60% between 2000 and 2020, unless preventive measures are introduced.
The cardiovascular devices market in South America is dominated by interventional cardiology, and followed by the cardiac rhythm management market category.
The cardiovascular devices market growth is driven by cardiac rhythm management, cardiac assist devices and external defibrillators categories which grew above the average cardiovascular devices market growth during 2004-2011 and are expected to continue the same trend during 2011-2018.
Cardiac Rhythm Management is the fastest growing category within the cardiovascular devices market in South America, showing a growth rate of 8.6% between 2004 and 2011 and is forecast to grow by 7% through to 2018.
Key players currently dominating the South American cardiovascular device market include Medtronic, Inc., Boston Scientific Corporation, St. Jude Medical, Inc., Cordis Corporation, Abbott Laboratories, and Terumo Corporation.
For more information on the South American cardiovascular devices market, see the latest research: South American Cardiovascular Devices Market Report
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