Overview and Scope
Cardiovascular devices are used to monitor and control irregular heartbeats and heart rhythm disorders
Sizing and Forecast
The cardiovascular devices market size has grown strongly in recent years. It will grow from <b>$66.15 billion in 2023 to $72.15 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. </b> The growth in the historic period can be attributed to lifestyle-related diseases, aging population, minimally invasive procedures and implantable devices, healthcare access, regulatory approvals.
The cardiovascular devices market size is expected to see strong growth in the next few years. It will grow to <b>$98.57 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. </b> The growth in the forecast period can be attributed to personalized medicine, remote monitoring, emerging markets growth, artificial intelligence (AI) integration, value-based healthcare. Major trends in the forecast period include wearable cardiovascular devices, minimally invasive interventions, bioresorbable devices, remote consultations and telesurgery, sustainable and eco-friendly devices.
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Segmentation & Regional Insights
The cardiovascular devices market covered in this report is segmented –
1) By Type: Cardiovascular Surgery Devices And Equipment, Cardiac Rhythm Management (CRM) Devices And Equipment, Interventional Cardiology Devices And Equipment, Defibrillator Devices And Equipment, Peripheral Vascular Devices And Equipment, Prosthetic Heart Valve Devices And Equipment, Electrophysiology Devices And Equipment, Cardiac Assist Devices And Equipment
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments/Equipment, Disposables
<b>North America</b> was the largest region in the global cardiovascular devices market in 2023. <b>Western Europe</b> was the second largest region in the global cardiovascular devices market. Africa. was the smallest region in the global cardiovascular devices market. The regions covered in the cardiovascular devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
An increase in the prevalence of cardiovascular disorders contributes to the growth of the cardiovascular device market. Cardiovascular disorders refer to a group of medical conditions that affect the heart and blood vessels, encompassing various diseases and disorders that involve the circulatory system. A cardiovascular device is a device used to support heart function and blood flow in people with weak or failing hearts. For instance, in June 2023, according to the Immigration and Checkpoints Authority, a Singapore-based government agency, there were 6,884 deaths attributed to heart and hypertensive diseases in 2022, an increase of 10.35% compared to 6,238 deaths recorded in 2021. Therefore, the increase in the prevalence of cardiovascular disorders is expected to drive the growth of the cardiovascular device market.
Key Industry Players
Major companies operating in the cardiovascular devices market include <b> Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Edwards Lifesciences Corporation, Johnson & Johnson, Terumo Corporation, Getinge AB, Teleflex Incorporated, Becton, Dickinson and Company, Siemens Healthineers AG, Fresenius SE & Co. KGaA, GE HealthCare Technologie Inc., Stryker Corporation, B. Braun Medical Pvt. Ltd., Baxter International Inc., Danaher Corporation, Fujifilm Holdings Corporation, Canon Medical Systems Corporation, MicroPort Scientific America Inc., W L Gore & Associates Inc., AngioDynamics Inc., CryoLife Inc., Endologix LLC, Lombard Medical Limited, Avinger Inc., Abiomed Inc., Biosensors International Group Ltd., Biotronik SE and Co. KG, CeloNova BioSciences Inc., LeMaitre Vascular Inc., Nano Therapeutics Pvt. Ltd.</b>
The cardiovascular devices market report table of contents includes:
1. Executive Summary
2. Cardiovascular Devices Market Characteristics
3. Cardiovascular Devices Product/Service Analysis -Product/Service Examples
4. Cardiovascular Devices Market Trends And Strategies
5. Cardiovascular Devices Market – Macro Economic Scenario
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26. Germany Cardiovascular Devices Market
27. France Cardiovascular Devices Market
28. Italy Cardiovascular Devices Market
29. Spain Cardiovascular Devices Market
30. Austria Cardiovascular Devices Market
Top Major Players:
- Medtronic PLC
- Boston Scientific Corporation
- Abbott Laboratories
- Edwards Lifesciences Corporation
- Johnson & Johnson
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