BCC Research Market Data Indicates Cardiovascular Diagnostics, Drug, and Devices Market to Top $192.4 Billion By 2012
Posted on: Thursday, 15 November 2007, 09:01 CST
According to a new technical market research report, CARDIOVASCULAR MEDICINE: DIAGNOSTICS, DRUGS AND DEVICES (HLC041B) from BCC Research (www.bccresearch.com), the global market for cardiovascular diagnostics, drugs and devices will be worth $119.8 billion in 2007. This is expected to increase to over $192.4 billion by 2012, a compound average annual growth rate (CAGR) of 9.9%.
The market is broken down into applications of cardiovascular diagnostics, drugs and devices. Of these, cardiovascular drugs is the largest in terms of revenue. Valued at $82.4 billion in 2007, it is expected to reach $121.6 billion by 2012, a CAGR of 8.1%.
The second largest segment, cardiovascular devices, is worth an estimated $25.5 billion in 2007 and will reach $49.4 billion by 2012, a CAGR of 14.1%. This market is increasing due to an aging population and increasing affluence, as well as the prevalence of sedentary lifestyles. With the acknowledgement of heart disease as the primary cause of death in the U.S., the scientific community has been stepping up the pace of research in the development of new devices and procedures and refining old ones.
Diagnostics will see a high rate of growth also, increasing from $11.9 billion in 2007 to $21.4 billion by the end of 2012, a CAGR of 12.5%. The cardiovascular diagnostics market represents one of the largest sectors within the diagnostics industry, chiefly due to the high prevalence rate of and high mortality rate from cardiovascular disease.
Cardiovascular disease remains the leading cause of death, morbidity and loss of quality of life. The prevalence of cardiovascular diseases also is increasing in developing countries with the adoption of western lifestyle and nutrition.
Publishing: November 2007 Electronic PDF: $4850
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research (www.bccresearch.com), 40 Washington Street, Suite 110, Wellesley, MA; Telephone: 866-285-7215, editor@bccresearch.com as the source and publisher, along with report number, which can be found immediately after the report title. Thank you.
Source: Business Wire
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