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As U.S. headline and core consumer price inflation increased in October and GDP growth remained resilient in Q3, billionaire Elon Musk has presented a hot take on how “excess” government spending is a major cause of inflation.

Tesla Inc. and SpaceX CEO, Musk – who has been named co-lead of DOGE or Department of Government Efficiency along with Republican politician Vivek Ramaswamy – has yet again signaled his vision going into this new role which is also meant to “restructure federal agencies and reduce government spending.”

Also read: Trump’s DOGE With Musk At The Helm ‘Riddled With Conflicts Of Interest’ Says, Clinton-Era Official Robert Reich

Balance Between Income And Expenditure

While government spending and its revenue streams determine how the economy will look, it also depends on other large fiscal and monetary decisions. An expansionary fiscal policy reduces the budget surplus or increases the budget deficit.

In general, decreased taxes and increased government spending, both increase a budget deficit, overall demand, economic growth, and employment. All the Keynesian economists, who follow the work of British economist John Maynard Keynes, believe that fiscal policy, through its effect on aggregate demand, can strongly impact economic growth.

To simplify this, if an individual spends more than they earn, they will have to borrow money to meet their needs. A steady supply from lenders and low interest rates will just increase the amount of debt held by the individuals. This is why in the current context, the Treasury yields have risen, pricing in the inflation expectations. Thus, the balance between income and expenditure becomes imperative. However, in the larger context, a country usually adjusts its budget deficit or surplus to maintain balance and stability.

Thus, Musk’s claim on higher government spending, in contrast to, less earnings via taxes, tariffs, or other channels, causes inflation to rise.

Replying to Musk’s tweet, Steve Burns, trader and founder of NewTraderU.com, shared a rare video of the Nobel Prize-winning economist Milton Friedman, where he talks about what causes inflation according to his theory.

Wilmington, Delaware, United States, Transparency Market Research Inc. -, Nov. 15, 2024 (GLOBE NEWSWIRE) — The global frozen meat market (냉동 고기 시장) is estimated to flourish at a CAGR of 3.6% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for frozen meat is estimated to reach US$ 31.7 billion by the end of 2031. Growing awareness of health-conscious consumer choices is driving the demand for frozen meat products with minimal additives, preservatives, and healthier processing methods.

The rise of plant-based frozen meat substitutes is influencing the market, reflecting shifting dietary preferences and a surge in vegetarian and flexitarian lifestyles. Manufacturers are focusing on innovative frozen meat product formulations, incorporating diverse flavors, ethnic cuisines, and unique recipes to meet evolving consumer tastes and preferences.

Environmental consciousness is driving the adoption of sustainable and eco-friendly packaging for frozen meat products, aligning with consumer demands for responsible consumption. Increasing emphasis on locally sourced and ethically produced frozen meat options, responding to consumers’ interest in supporting regional economies and sustainable agricultural practices.

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Frozen Meat Market: Competitive Landscape

The frozen meat market is marked by intense competition, with key players driving innovation and quality. Industry leaders such as JBS S.A., Tyson Foods Inc., and BRF S.A. dominate, leveraging extensive global networks and diverse product portfolios.

These giants compete with regional players like Marfrig Global Foods and NH Foods Ltd., fostering a dynamic market environment. Strategic acquisitions, product diversification, and adherence to stringent quality standards characterize the competitive landscape.

As consumers seek convenient, high-quality frozen meat products, the market’s competitive dynamics continue to evolve, with companies aiming for market share through differentiation and responsiveness to changing consumer preferences. Some prominent manufacturers are as follows:

• Cargill Incorporated
• Kerry Group Plc
• Marfrig Group
• BRF S.A.
• Associated British Foods Plc.
• Tyson Foods
• Pilgrim’s Pride Corporation Inc.
• Verde Farms LLC
• Arcadian Organic & Natural Meat Co.
• JBS S.A.
• VH Group
• AJC International Inc.
• Keystone Foods
• Mindful Meats
• Pitrman Family Farms

Product Portfolio

• JBS S.A. is a global leader in the food industry, offering a diverse product portfolio. Renowned for high-quality meat products, JBS provides a range of beef, poultry, and pork solutions, meeting the demands of consumers worldwide with a commitment to sustainability and excellence.
• VH Group stands as a prominent player in the poultry industry, specializing in the production of premium-quality eggs and poultry products. With a focus on innovation and sustainability, VH Group ensures a consistent supply of nutritious and responsibly sourced products.
• AJC International Inc. excels in global food trade, providing a comprehensive product portfolio. Specializing in poultry, pork, beef, and seafood, AJC International delivers quality food products worldwide, emphasizing reliability, sustainability, and customer satisfaction.

Key Findings of the Market Report

• Chicken leads the frozen meat market, driven by its versatility, widespread popularity, and consumer preference for convenient, lean protein options.
• Retail/household stands as the leading end-use segment in the frozen meat market, driven by consumer demand for convenient and accessible food options.
• Hypermarkets/supermarkets lead the frozen meat market distribution channel, offering a wide variety of frozen meat products to diverse consumer segments. 

Frozen Meat Market Growth Drivers & Trends

• Busy lifestyles drive increased consumption of frozen meat products.
• Urbanization contributes to the growth of the frozen meat market, catering to on-the-go consumers.
• Diverse culinary preferences and globalization trends fuel demand for a variety of frozen meat products.
• Growing affluence in emerging economies leads to greater affordability and accessibility of frozen meat options.
• Innovations in cold chain logistics ensure the quality and safety of frozen meat products, boosting market expansion.

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Global Frozen Meat Market: Regional Profile

• North America boasts a mature market driven by the widespread adoption of frozen meat products, reflecting busy lifestyles and the demand for convenient yet high-quality food options.
• Europe emphasizes sustainability and diverse culinary preferences, contributing to a dynamic market.
• Asia Pacific shows substantial growth potential, fueled by rising disposable incomes, urbanization, and changing dietary habits. With a surge in demand for frozen meat products in countries like China and India, the region is a focal point for market expansion.

Frozen Meat Market: Key Segments

By Type

By End Use

• Food Processing Industry
• Foodservice
• Retail/Household

By Distribution Channel

• Business to Business
• Business to Consumer
• Hypermarkets/Supermarkets
• Convenience Stores
• Specialty Stores
• Online Retail

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

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About Transparency Market Research 

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

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Luton, Bedfordshire, United Kingdom, Nov. 15, 2024 (GLOBE NEWSWIRE) — The global cardiac device market is experiencing tremendous growth. This is driven by the increasing prevalence of chronic heart disease. This increase in heart conditions is driving the use of high-tech devices for diagnostic and surgical purposes. In addition, the price drop of critical cardiac medical equipment such as coronary stents is decreasing. It is helping to increase market expansion. Particularly in emerging markets like India, Harvard’s T.H. Chan School of Public Health found that the number of heart procedures in Maharashtra increased 43% as the price of coronary stents dropped. It emphasizes the positive impact of affordable medical devices on patients’ treatment choices.

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This growth trend will continue. with key market players increasing their R&D efforts to develop innovative products designed to improve outcomes for cardiovascular patients. The increasing incidence of cardiovascular disease across the world is also fueling the expansion of this market. As a result, the cardiology devices market is poised for strong growth throughout the forecast period. Although the spread of COVID-19 will have a negative impact on the market. This is especially true because elective heart surgery procedures have been postponed and hospital admissions have decreased. But the market is continuing to recover. The pandemic has delayed non-urgent procedures, such as percutaneous coronary intervention (PCI) for stable ischemic heart disease. This is because health care resources have been redirected to managing COVID-19. But demand for cardiac equipment is increasing. Innovative products…from the beginning have helped The market returns to its pre-epidemic growth trajectory.

• Technological Innovation in Cardiology Devices: Major players in the industry continue to focus on developing cutting-edge diagnostic and therapeutic solutions, such as AI-powered diagnostic tools and advanced stent technologies, to enhance patient outcomes and broaden market adoption.
• Regional Expansion: The demand for cardiology devices is expected to rise significantly in emerging markets, particularly in regions like Asia-Pacific and Latin America, as healthcare infrastructure improves and access to advanced medical technologies increases.
• Government Initiatives: Governments worldwide are increasingly prioritizing healthcare reforms, including the expansion of cardiology services, which is expected to further drive demand for heart disease-related medical devices.

High Demand for Advanced Cardiovascular Devices Drives Market Growth

The growing demand for advanced cardiovascular devices is propelled by an increasing number of patients suffering from chronic heart diseases, many of whom require state-of-the-art diagnostic and therapeutic solutions. This is particularly true for coronary stents and other devices with enhanced safety features. Patients now seek devices that not only provide effective treatment but also minimize the risk of complications, such as infections often associated with bare-metal stents.

Technological advancements have also spurred a demand for devices with remote cardiac monitoring capabilities. These features provide patients with accurate, real-time insights into their heart health, improving overall treatment efficacy and patient convenience. As a result, leading manufacturers in the cardiovascular devices market are prioritizing the development of innovative, feature-rich products. For example, in November 2021, Medtronic launched the Arctic Front Cardiac Cryoablation Catheter System, the first cryoballoon catheter to receive CDSCO approval, designed for treating atrial fibrillation. Similarly, in February 2021, Remo Care Solutions introduced an AI-powered remote cardiac monitoring device, Remo.Cardia, which analyzes patients’ vitals in real-time, offering effective monitoring for individuals with cardiovascular conditions.

The growing patient pool, paired with the increasing demand for advanced features, is expected to significantly drive the growth of the cardiovascular devices market in the coming years.

1. Technological Advancements and Patient-Centered Features: The rising preference for devices that integrate features like AI, wireless connectivity, and remote monitoring is making these tools indispensable for both healthcare professionals and patients. These devices not only provide real-time data but also enable more tailored and effective treatment plans, which is especially important for individuals in need of continuous monitoring.
2. Emerging Markets: The rise of emerging markets, where a greater focus on affordability and accessibility of advanced cardiovascular devices is occurring, is also a significant driver. Increased awareness and healthcare infrastructure improvements in countries such as India, Brazil, and China are contributing to the demand for cost-effective yet advanced cardiovascular technologies.
3. Market Recovery Post-COVID-19: While the pandemic temporarily disrupted elective cardiovascular procedures, there is now a rebound in the demand for cardiovascular devices as health systems resume normal operations. The resurgence in heart disease diagnoses and treatments is fueling further growth in this sector.

Increase in Cardiovascular Diseases Prevalence to Drive Global Market Growth

The global cardiovascular devices market is poised for significant growth, largely driven by the rising prevalence of heart diseases. Cardiovascular diseases (CVDs) are among the most costly in terms of healthcare services, and conditions such as coronary artery disease (CAD) and heart failure are becoming increasingly prevalent. Coronary stents, crucial devices used in treating life-threatening conditions such as heart attacks, atrial fibrillation, and blocked arteries, are in high demand as they offer vital treatment for patients with these conditions.

Data from the Centers for Disease Control and Prevention (CDC) highlighted that in 2022, approximately 4.9% of adults in the U.S. were diagnosed with coronary heart disease, and CVDs remain the leading cause of death in the country, accounting for 695,547 deaths in the same year. Globally, the World Health Organization (WHO) estimates that heart diseases are responsible for approximately 17.9 million deaths annually. These alarming statistics emphasize the increasing need for innovative and advanced cardiovascular devices.

Further driving market expansion, the surge in device approvals by regulatory authorities is expected to fuel market growth. Additionally, various public initiatives aimed at expanding access to cardiovascular devices in developing regions are expected to enhance market prospects, particularly in underserved areas.

1. Regulatory Approvals and Innovation: The acceleration in approvals for new devices by regulatory bodies like the FDA and European Medicines Agency (EMA) has provided a significant boost to the market. Companies are focusing on research and development to introduce innovative technologies, improving treatment options for patients worldwide.
2. Rising Awareness in Developing Markets: Countries in Asia, Africa, and Latin America are seeing an increase in healthcare awareness and infrastructure development, which is contributing to the rising demand for cardiovascular devices. This presents substantial opportunities for manufacturers targeting emerging markets.
3. Aging Population: As the global population continues to age, the incidence of chronic heart conditions is expected to rise. This demographic shift further underscores the growing need for cardiovascular devices that can address a wide range of heart diseases.

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Increasing Availability of Efficient Devices to Propel Market Growth

The global cardiovascular devices market is witnessing significant growth, driven by the increasing prevalence of heart diseases and the expanding availability of advanced and cost-effective devices. As healthcare systems in emerging markets such as India, China, and Mexico continue to develop, the demand for these life-saving technologies has surged. With numerous initiatives aimed at improving access to affordable cardiovascular devices in these regions, market growth is set to accelerate in the coming years.

For example, in January 2023, UltraLinQ Healthcare Solutions introduced a new cardiac monitoring product at the Arab Health 2023. This end-to-end system allows specialist clinics and hospitals to offer Holter services remotely, enhancing patient access to care, even in the comfort of their homes. Such innovations are helping bridge healthcare gaps in emerging economies, further driving the adoption of cardiovascular devices.

Increasing Barriers in R&D Activities Could Restrict Market Growth

Despite these positive developments, the cardiovascular devices market faces challenges in terms of research and development (R&D) efforts. The high costs associated with the advancement of innovative devices, compounded by ineffective reimbursement models, have created barriers to progress. For example, countries that impose price caps on essential life-saving devices, such as coronary stents, discourage manufacturers from investing in new product developments. This can slow innovation and the introduction of advanced devices into the market.

Additionally, stringent regulatory policies are also restricting market growth. Devices that do not meet regulatory guidelines cannot be commercialized, resulting in financial losses for manufacturers. Furthermore, product recalls have become more frequent in recent years, tarnishing the reputation of manufacturers. For instance, in 2023, the U.S. FDA announced that Abbott recalled its NC Traveler RX Coronary Dilatation Catheters due to issues with balloon deflation. These challenges underscore the hurdles manufacturers must navigate to ensure the continued growth and innovation of the cardiovascular devices market.

North America to Maintain Dominance in the Cardiovascular Devices Market

North America continues to dominate the global cardiovascular devices market, with the U.S. accounting for a significant share in 2023. This is driven by a combination of factors including the prevalence of cardiovascular diseases, increased healthcare expenditure, and robust access to advanced medical infrastructure. According to the American Heart Association, cardiovascular diseases were responsible for around 18.6 million deaths in the U.S. in 2019, highlighting the significant burden of these diseases. The growing adoption of innovative medical technologies, alongside favorable reimbursement policies and a strong healthcare infrastructure, has led to an increased demand for cardiovascular diagnostic devices and surgical interventions across the region.

Asia Pacific: The Fastest-Growing Market for Cardiovascular Devices

The Asia Pacific (APAC) region is expected to exhibit the fastest growth in the cardiovascular devices market during the forecast period. This growth is driven by factors such as a large population base, rising incidence of cardiovascular diseases, increasing healthcare expenditure, and investments in healthcare infrastructure. According to the World Health Organization, approximately 75% of deaths from cardiovascular diseases occur in low- and middle-income countries, underscoring the region’s vulnerability. The increasing accessibility to healthcare services, alongside the rising affordability of medical technologies, is fueling the adoption of cardiovascular devices in these areas. Moreover, the rapidly expanding geriatric population, which is expected to constitute 80% of the global elderly population by 2050, will further drive the demand for cardiovascular devices in the APAC region.

Key Drivers of Cardiovascular Devices Market Growth

The global cardiovascular devices market is experiencing significant growth due to several key factors, most notably the increasing prevalence of chronic cardiovascular diseases worldwide. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death globally, accounting for an estimated 17.9 million deaths each year. Key contributors to this rise include unhealthy diets high in salt, increased tobacco use, alcohol consumption, and the growing incidence of obesity and physical inactivity, all of which heighten the risk of cardiovascular conditions.

The demand for early diagnosis is a major factor in driving the market, as early detection of cardiovascular diseases can significantly improve treatment outcomes. In addition, the aging population is contributing to the rise in cardiovascular diseases, as older individuals are more susceptible. The United Nations projects that by 2050, the global geriatric population will reach approximately 2 billion, further increasing the demand for cardiovascular care.

The market is also buoyed by technological advancements, particularly in product innovations. For example, in February 2021, Remo Care Solutions introduced an AI-based remote monitoring device designed to analyze real-time cardiovascular conditions of patients. This integration of artificial intelligence (AI) into cardiovascular devices is enhancing patient care services and helping to reduce mortality rates. Additionally, the rising investments by leading market players in research, development, and clinical trials are expected to open new avenues for growth in the coming years, further accelerating the demand for these critical devices.

Cardiovascular Devices Market Key Players:

• B. Braun Melsungen AG (Melsungen, Germany)
• Medtronic (Dublin, Ireland)
• Abbott (Abbott Park, U.S.)
• Boston Scientific Corporation (Marlborough, U.S.)
• Edwards Lifesciences Corporation (Irvine, U.S.)
• Johnson & Johnson Services, Inc. (New Brunswick, U.S.)
• GENERAL ELECTRIC COMPANY (GE Healthcare) (Chicago, U.S.)
• LivaNova PLC (London, U.K.)
• Siemens Healthcare GmbH (Erlangen, Germany)
• Terumo Cardiovascular Systems Corporation (Tokyo, Japan)
• Medtronic
• LivaNova Plc
• Edwards Lifesciences Corporation
• GE Healthcare
• Siemens Healthcare GmbH

Key Developments

• In 2023, a new ablation technology, pulsed field ablation (PFA), showed promise as a safer and faster alternative to traditional thermal ablation for treating atrial fibrillation (AFib). This technique uses electrical fields to target heart muscle cells without damaging surrounding tissues, offering a potentially more effective treatment for AFib patients​.
• Recent studies have confirmed that endovascular thrombectomy, a minimally invasive procedure to remove blood clots from the brain, benefits even patients with large, severe strokes. This development could improve outcomes for patients who previously had limited treatment options​.
• In recent trials, advanced imaging technologies have improved the placement of stents in patients with complex coronary lesions. These new techniques help doctors achieve better outcomes for patients with challenging heart conditions, including those with diabetes​.
• Zilebesiran, a new drug targeting blood pressure regulation, showed positive results in clinical trials by offering long-lasting blood pressure reductions with a single injection. This medication could potentially become a significant advancement in treating hypertension and related cardiovascular conditions​.
• In February 2021, Remo Care Solutions introduced an AI-based remote monitoring device for cardiac patients. This device analyzes cardiovascular conditions in real time, improving management and potentially reducing hospital visits​.

Segments Covered in the Report

By Device Type

• Diagnostic & Monitoring
  • ECG
  • Holter Monitors
  • Event Monitors
  • Implantable Loop Recorders
  • Echocardiogram
  • Pet Scan
  • MRI
  • Cardiac CT
  • Doppler Fetal Monitors
• Therapeutic & Surgical Devices
  • Pacemakers
  • Stents
  • Catheters and accessories
  • Guidewires
  • Cannulae
  • Electrosurgical Procedures
  • Valves
  • Occlusion Devices
  • Others

By End User

• Hospitals
• Specialty Clinics
• Others

By Application

• Cardiac Arrhythmia
• Coronary Artery Disease
• Heart Failure
• Others

By Geography

• North America
• Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• MEA
• Latin America
• Rest of the World

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