Europe, Asia, Middle East & Africa Medical Devices Market Research Report Forecast to 2030
The countries within the scope of the study have been analyzed basis of a few factors to gather an understanding of the patient population and the countries. A Patent Foramen Ovale (PFO) is a hole in the wall between the left and right atria of every human fetus. This hole is a small flaplike opening between the upper heart chambers that allows blood to bypass the fetal lungs, which cannot work until they are exposed to air. When a newborn enters the world and takes its first breath, the foramen ovale closes, and within a few months, it has sealed completely in about 75% of cases and when in some cases it remains open, it is called a PFO. In most people treatment for PFO is not required. However, if a stroke related to the PFO is diagnosed, closure is recommended as it prevents blood clots from moving to other parts of the body such as the brain and heart, which could cause a stroke. Additionally, an Atrial septal defect (ASD) is a congenital heart defect (hole) in the inter-atrial septum that typically allows blood to go from the left to right chambers. The hole increases the amount of blood that passes through the lungs. ASD is one of the most common congenital cardiac diseases and usually affects women more than men. Hence, the rising female population suffering from ASD is driving the Atrial Septal Defect (ASD) market growth during the forecast period. In addition, the increasing prevalence of congenital heart diseases and increasing government spending on healthcare are driving the growth of the Patent Foramen Ovale (PFO) and Atrial Septal Defect (ASD) market. For instance, according to the Eurostat database, healthcare expenditure was EUR 10,73,000 million or 8.0% of GDP in 2020. Hence, rising healthcare expenditure also increases company activities and government initiatives in developing effective heart defect closure devices for the treatment of congenital heart defects to prevent recurrent ischemic stroke. These factors are anticipated to positively impact the growth of the market. Moreover, the high incidence rate for ischemic stroke is expected to augment the growth of the market over the forecast period. Stroke is one of the leading causes of death in Europe, Asia, the Middle East & Africa. Peripheral artery disease (PAD) has changed over time as the prevalence of associated risk factors and co-morbidities including the increase in insulin-dependent diabetes and the changing dynamic of tobacco use has evolved. For instance, countries such as Pakistan, Uzbekistan, Egypt, Azerbaijan, Iran, and Algeria have registered an increase in the prevalence of diabetes and is anticipated to grow in the coming years. This, in turn, will increase the demand for medical devices associated with the treatment of PAD in these countries.
Regional AnalysisEurope, Asia, Middle East & Africa Medical Devices Market is studied across various countries such as Romania, Belarus, Iran, Iraq, Serbia, Azerbaijan, Algeria, Tunisia, Morocco, Egypt, Nigeria, Kenya, Ukraine, Uzbekistan, Pakistan, and Bosnia and Herzegovina
Major PlayersBoston Scientific Corporation, Medtronic Plc, B. Braun Melsungen AG, Baxter International Inc., Johnson & Johnson, Merit Medical Systems, Inc., Abbott Laboratories Inc., Becton, Dickinson and Company, CONMED Corporation, Olympus Corporation, and Koninklijke Philips N.V.
Companies MentionedBoston Scientific Corporation
Medtronic Plc
B. Braun Melsungen AG
Baxter International Inc.
Johnson & Johnson
Merit Medical Systems
Inc.
Abbott Laboratories Inc.
Becton
Dickinson and Company
CONMED Corporation
Olympus Corporation
and Koninklijke Philips N.V.
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