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Chile Cardiovascular Devices Market - Growth, Trends, and Forecasts (2020 - 2025)

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  • 68 Pages
  • June 2020
  • Region: Chile
  • Mordor Intelligence
  • ID: 5119827
The Chile Cardiovascular Devices Market is expected to register a CAGR of 2.4% during the forecast period. The major factors driving the growth of the market in Chile are due to technological advancements, increasing cases of cardiovascular diseases, and increased adoption of minimally invasive procedures.

Cardiovascular disease is a major health problem in Chile. In Chile, the HEARTS program, a tool that provides a strategic approach to improving cardiovascular health through primary care. This was started in 2016 to support governments in strengthening the prevention and control of cardiovascular diseases (CVDs). Such initiations will boost the market in the coming years.

Thus, owing to the above-mentioned factors the market is expected to show growth over the forecast period. However, poor reimbursement policies, stringent regulatory policies, and the high cost of instruments and procedures are some of the major factors restraining market growth.

Key Market Trends

Electrocardiogram (ECG) is Expected to Dominate the Diagnostic And Monitoring Segment Over the Forecast Period

An electrocardiogram (ECG) records the electrical signals from the heart. It is a common and painless test used to detect heart problems and monitor the heart's health.

Currently, there are portable and compact electrocardiogram (ECG) is driving its greater adoption, especially in the home healthcare segment. Due to rising cases of cardiovascular diseases (CVD), wherein long-term ECG monitoring is necessary and with the introduction of wireless ECG, doctors can monitor and diagnose the patient remotely on time, which further fuels the market growth.

Furthermore, as per INE Chile, in 2017, circulatory disorders related to deaths were top among all deaths resulted in approximately 28,591 deaths in Chile. Therefore, the growing demand for minimally invasive surgeries and technological advancements is expected to drive the market in the near future.

Competitive Landscape

The Chile cardiovascular devices market is consolidated competitive. The major players have established themselves in specific segments of the market. Some of the players who are currently dominating the market are Boston Scientific Corporation, Medtronic PLC, Siemens Healthineers AG, Phillips Healthcare, Nihon Kohden Corporation, Welch Allyn, Inc, and GE Healthcare.

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Cardiovascular Diseases
4.2.2 Increased Preference of Minimally Invasive Procedures
4.3 Market Restraints
4.3.1 Stringent Regulatory Policies
4.3.2 High Cost of Instruments and Procedures
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Device Type
5.1.1 Diagnostic and Monitoring Devices Electrocardiogram (ECG) Remote Cardiac Monitoring Other Diagnostic and Monitoring Devices
5.1.2 Therapeutic and Surgical Devices Cardiac Assist Devices Cardiac Rhythm Management Device Catheter Grafts Heart Valves Stents Other Therapeutic and Surgical Devices
6.1 Company Profiles
6.1.1 Boston Scientific Corporation
6.1.2 Medtronic PLC
6.1.3 Siemens Healthineers AG
6.1.4 Phillips Healthcare
6.1.5 Nihon Kohden Corporation
6.1.6 Welch Allyn, Inc
6.1.7 Abbott Laboratories
6.1.8 GE Healthcare

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Boston Scientific Corporation
  • Medtronic PLC
  • Siemens Healthineers AG
  • Phillips Healthcare
  • Nihon Kohden Corporation
  • Welch Allyn, Inc
  • Abbott Laboratories
  • GE Healthcare