Market Trends of United Kingdom Cardiovascular Devices Industry
This section covers the major market trends shaping the UK Cardiovascular Devices Market according to our research experts:
Cardiac Rhythm Management Devices Segment is Expected to Hold a Significant Share in the Market
Cardiac rhythm management (CRM) devices, including pacemakers, implantable defibrillators, cardiac resynchronization therapy, etc., are one of the most commonly used devices in cases of cardiac arrhythmia. The rising aging population in the country is expected to act as a key contributor to this segment. According to the World Ageing Population report, the number of people aged 65 and over is expected to increase by 1.6% over 2021-22 to a total of 12.7 million, accounting for 18.9% of the total UK population. The elderly population is likely to be affected by cardiovascular diseases. Hence, the aforementioned factors are expected to spur market growth.
Furthermore, there were a growing number of inpatient episodes with the main diagnosis of circulatory system disease in the UK. This growth is backed by the presence of advanced healthcare infrastructure and a continuous rise in the prevalence of cardiovascular cases in the country. The United Kingdom has a significant number of cardiovascular diseases, including congestive heart failure, stroke, heart failure, atrial fibrillation, and other heart patients. According to the British Heart Foundation (BHF), more than 7 million people will be living with cardiovascular diseases in September 2021, and approximately 152,465 will have died as a result of these diseases. The critical factors that are leading to cardiovascular disease are congestive heart failure, stroke, and other heart diseases such as harmful stress, depression, excessive consumption of alcohol, excessive smoking, hypertension, diabetes, obesity, and a poor diet that includes cholesterol. Thus, all these factors are increasing the demand for cardiac rhythmic management devices, which is driving the growth of the market.
Remote Cardiac Monitoring is Expected to hold a Significant Market Share over the Forecast Period
Remote cardiac monitoring is used to observe cardiac activity. Continuous monitoring of the heart is mandatory to assess a patient's condition if they suffer from CVD. Cardiac monitoring devices record and display pressure and electrical waveforms of the cardiovascular system for measurement and treatment. The increasing cases of cardiovascular diseases, the rising aging population's high risk of cardiac disease, the increasing usage of remote monitoring, and rapid technological advancements in the United Kingdom are expected to drive the growth of cardiac monitoring devices in the United Kingdom. For instance, according to the report by the Census Bureau, in November 2022, over 11 million people, or 18.6% of the total population, were aged 65 years or older. As the aging population increases, the incidence of cardiovascular diseases is high, and there is a continuous need for the proper detection and diagnosis of cardiac diseases; hence, it is expected to show growth in remote cardiac monitoring over the forecast period.
Additionally, a few of the key market players in the country are developing novel products and technologies to compete with the existing products, while others are acquiring and partnering with other companies trending in the market. For instance, in May 2022, a cardiac remote monitoring program will be launched in London. Implementations of remote monitoring technology in the UK are expected to reduce risk and improve care for up to 8,000 patients waiting for heart surgery.
Therefore, due to the above-mentioned factors, remote cardiac monitoring is expected to grow in the United Kingdom over the forecast period of the study.
