The short-term circulatory support devices market in India is expected to grow at a compound annual growth rate (CAGR) of 7% between 2021 and 2030, driven by the increase in mortality rate due to cardiovascular diseases and the growing incidence of diabetes and obesity, forecasts GlobalData, a leading data and analytics company.

As COVID-19 cases subside and vaccination of the general population continues, the backlog of procedure volumes for cardiovascular surgeries are expected to recover by the end of 2021, according to GlobalData.

GlobalData’s latest report, ‘Short Term Circulatory Support Devices (Cardiovascular) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that Abiomed Inc, Abbott Laboratories and LivaNova PLC together account for 70% of the short-term circulatory support devices market in India in 2021.

Anusha Kaushik, Medical Devices Analyst at GlobalData, comments: “The market in India is mainly driven by improving access to patients for healthcare, increasing awareness of non-invasive procedures in patients, and increase in technological advancements. Growing number of angina pectoris (AP) and myocardial infarction (MI) cases and resulting treatment are leading to growing use of short-term circulatory support devices.”

In India, there has been a growing preference for non-invasive procedures over invasive procedures. This is leading to higher demand for intra-aortic balloon pump catheters and percutaneous ventricular assist devices while the demand is waning for short-term external/para corporeal ventricular assist devices, which are mainly used in invasive procedures.

Ms. Kaushik concludes: “Rising mortality rates due to cardiovascular diseases in India are expected to make diagnostics and treatment a priority, which will be a major driver for the short-term circulatory support devices market. Factors such as growing geriatric population, increased incidence of cardiovascular and related diseases such as diabetes and hypertension, increase in population size, increased stress level and a large section of the population making unhealthy lifestyle choices are expected to drive the market growth in the coming years.”