Market Trends of Sweden Cardiovascular Devices Industry
Stents is Expected to Witness Growth Over the Forecast Period
A stent is a cardiovascular device that resembles a tiny coil of wire mesh and supports the artery's walls, aids in preventing it from re-narrowing and is used during angioplasty. These are currently used most frequently in most patients undergoing angioplasty. Once implanted, stents are designed to be permanent and keep patients' arteries open. Thus, the stent by therapeutic and surgical devices segment is anticipated to gain demand and witness growth over the analysis period.
According to the research article published by BMJ Open in June 2022, when the study was conducted nationwide to observe the incidence, contemporary management, and outcome in Swedish spontaneous coronary artery dissection (SCAD) patients, 30.6% of SCAD patients received stents, 65.5% of SCAD patients with 100% coronary artery occlusion who underwent percutaneous coronary intervention (PCI) were treated with stent implantation, and 23% of patients with non-occlusive SCAD were treated with stent implantation in Sweden. Thus, this shows a high adoption of stents in the country.
This is further anticipated to drive the segment's growth over the forecast period. Additionally, frequent product launches, innovations, and advancements are other factors expected to fuel market growth. For instance, in April 2024, Sweden-based Getinge received certification for Advanta V12 covered stent system by European Union Medical Device Regulation (EU MDR).
Therefore, the factors mentioned above, such as the rising usage of cardiovascular stents and the increasing prevalence of cardiovascular diseases, are expected to drive the segment's growth significantly and contribute to the overall market growth over the forecast period.
Remote Cardiac Monitoring Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period of the Study
Remote cardiac monitoring (RCM) devices are at-home devices that enable electrocardiographic (ECG) monitoring for patients suffering from cardiovascular disease. Then, the device electronically transfers the data to the healthcare team. The increasing prevalence of cardiovascular diseases in Sweden, the rising geriatric population, and the rising developments by key market players are expected to boost segment growth.
The increasing prevalence of cardiovascular diseases in Sweden is a major factor in increasing the adoption of RCM devices. For instance, according to an article published by Elsevier in November 2022, a cohort study was conducted in Sweden, which showed an association between long-term exposure to traffic-related air pollutants and the development of atherosclerosis in a middle-aged population. Thus, the increasing burden of cardiovascular diseases such as atherosclerosis is expected to boost segment growth.
Moreover, the rising developments by various players are also enhancing segment growth. For instance, in December 2022, Medixine raised EUR 5 million (USD 5.66 million) to meet the rapidly increased demand for remote patient monitoring solutions. Medixine is active in countries such as Sweden, among others.
Thus, the factors above, such as the rising burden of cardiovascular diseases, the rising geriatric population, and the rising developments by market players, are expected to boost the segment growth.
