The Leading Players In The Cardiovascular Devices Market Are Innovating To StayPosted by ananth on June 20th, 2018 Medtronic, Inc is the company with the largest share of the global market for devices to treat diseases related to the heart, at 19%, a report from The Business Research Company shows. The company is continuously investing in R&D, in order to retain or increase its share and maintain sales in a global market in where growth is slower than that of gdp. In 2014, for instance Medtronic launched a new external heart monitor device, its SEEQ Wearable Cardiac Monitoring System, which is a wire-free and adhesive patch that can be worn on skin for up to 30 days and that helps diagnose the cause of abnormal heart beats in patients experiencing vertigo, syncope, palpitations or shortness of breath. The player with the second largest share at 14%, Abbott Laboratories, also innovates to stay ahead: in July 2016, it obtained approval from the US Federal Drugs Administration for the market’s first fully absorbable stent, Absorb GT1 BVS. The cardiovascular devices market is relatively, with five global players accounting for 54.1% of the total in 2017. Further consolidation is under way; merger and acquisition activity in the last four years has been high. Abbott, Beckton Dickinson, Cardinal Health, Philips, Medtronic, St Jude and Boston Specific were among companies that completed takeovers or mergers. Products in the market include arrhythmia detectors, non-invasive blood pressure measurement systems, diagnostic intravascular catheters, external cardiac compressors, coronary vascular physiologic simulation software devices, external programmable pacemaker pulse generators, cardiac monitors, cardiopulmonary bypass defoamers, echocardiographs, vascular graft prostheses, electrocardiographs and defibrillators. The main segments are cardiovascular surgery devices, worth 37% of the total, cardiac rhythm management devices, accounting for 23% and interventional cardiology devices, at 17%.
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