United Kingdom Cardiovascular Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

United Kingdom Cardiovascular Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The United Kingdom cardiovascular devices market is expected to register a CAGR of 7.2% over the forecast period (2022-2027).

The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few. In the European Union (EU), the medical device regulation (MDR) requires manufacturers to conduct Post Market Clinical Follow-Up (PMCF) studies to demonstrate the continued safety and performance of their devices, as well as capture any emerging risks these, may carry. However, the COVID-19 pandemic has delayed clinical trials and disrupted processes. While certain trials such as Investigator-Initiated Studies (IIS) are necessary for the broad healthcare system to come to a consensus around the efficacy of certain therapeutic options, other clinical trials are initiated by sponsors to investigate the safety and clinical performance of devices to satisfy regulatory requirements. Due to the COVID-19 pandemic, the European Commission recently adopted a proposal on April 3, 2020, to postpone the application date of the MDR for one year. As the coronavirus crisis increases demands for certain vital medical devices such as cardiovascular devices, it is crucial to avoid any further difficulties or risks of potential shortages or delays in the availability of such devices caused by capacity limitations of authorities or conformity assessment bodies related to the implementation of the Medical Devices Regulation. Based on this proposal, the functionality of the European Database on Medical Devices has announced on March 25, 2021, with reporting requirements beginning May 26, 2021. Thus, the proposal has assisted in implementing guidelines to solve the supply chain issues during COVID-19. Thus, COVID has significant impact on the market growth.

Similarly, as per the national library of medicine article published in ferbruary 2021, There has been a greater than 50% drop in the number of patients presenting to cardiology and those diagnosed with myocardial infarction. All areas of cardiology service provision sustained significant reductions, which included outpatient clinics, investigations, procedures and cardiology community services such as heart failure and cardiac rehabilitation in United kingdom. Thus, the COVID-19 has significant impact at market growth.

Conclusions As ischaemic heart disease continues to be the leading cause of death nationally and globally, cardiology services need to prepare for a significant increase in workload in the recovery phase and develop new pathways to urgently help those adversely affected by the changes in service provision.

The increasing morbidity and mortality of cardiovascular diseases are one of the major contributors to this market. According to the World Health Organization in Sseptember 2021, Cardiovascular disease refers to diseases that affect the heart and circulatory system, it is an illness that afflicts many individuals in the United Kingdom. In 2020, there were over 1.8 inpatient episodes with a main diagnosis of circulatory system disease in the United Kingdom. Almost 480 thousand diagnoses in 2020 were for coronary heart disease, also known as ischemic heart disease. The mortality rate from cardiovascular disease in the UK in 2020 was 255 deaths per 100,000 population, in that year Scotland had the highest death rate of the devolved nations with 326 deaths per 100,000 people. Furthermore, Scotland also has the highest mortality frequency for coronary heart disease, with 134 deaths compared to the UK average of 108 per 100,000 population.. Thus, with the growing burden of diseases, the market is expected to accelerate in the future.

Thus, all these aforementioned factors are driving the growth of the market while the factors such as stringent regulatory framework are hampering the growth of the market.

Key Market TrendsCardiac Rhythm Management Devices market 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 majorly used devices in case 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 years and over in the United Kingdom is expected to reach 21.5% by 2030 from 18.5% in 2019. The elderly population is likely to be affected by cardiovascular diseases. Hence, the aforementioned factors are expected to thrive the market growth.

Furthermore, 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, congestive heart failure, Stroke, heart failure, atrial fibrillation, and other heart patients. In September 2021, According to the British Heart Foundation (BHF), more than 7 million people living with cardiovascular diseases, and about 152,465 are mortalities due to cardiovascular 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 poor diet which includes cholesterol. Thus, all these factors are increasing the demand for cardiac rhythmic management devices which is driving the growth of the market.

Competitive Landscape

The cardiovascular devices market is fragmented in nature. The key players in the market are Abbott Laboratories, Boston Scientific Corporation, Biotronik, Cardinal Health, GE Healthcare, Medtronic Plc, Siemens Healthineers AG, and W. L. Gore & Associates, Inc.

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