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Global Cardiovascular Devices Market Size, Share, Trends: By Device Type: Diagnostic and Monitoring Devices, Therapeutic and Surgical Devices; By Application: Coronary Artery Disease, Heart Failure, Others; By End User: Hospitals, Specialty Clinics, Others; Regional Analysis; Market Dynamics; Supplier Landscape; 2024-2032
Global Cardiovascular Devices Market Size
The global cardiovascular devices market was valued at USD 56.5 billion in 2023, driven by increasing incidence of cardiovascular conditions across the globe. The market is expected to grow at a CAGR of 6.36% during the forecast period of 2024-2032, with the values likely to reach USD 98.4 billion by 2032.
Global Cardiovascular Devices Market Outlook
- One of the major trends include increasing incidence of mergers between key companies to enhance imaging solutions.
- Asia Pacific region expected to experience significant growth, likely to be driven by growth of medical tourism in countries like India, China, and South Korea.
- The market is witnessing an influx of artificial intelligence and machine learning driven devices to improve patient outcomes.
Global Cardiovascular Devices Market Overview
The huge rise in the prevalence of chronic heart disease is driving the growth of the global market for cardiovascular devices. This increase in demand is encouraging more healthcare providers to use cutting-edge cardiac technology for diagnostic and surgical applications. Additionally, the market has grown because of the declining costs of essential cardiovascular treatment devices, especially in developing countries like India.
Data based on the UK Biobank report, underscored the critical importance of investing in research and development efforts aimed at promoting cardiovascular health (CVH) and preventing cardiometabolic diseases. The findings reveal that maintaining ideal CVH significantly reduces the risk of all-cause and cardiometabolic disease-related mortality, leading to substantial gains in life expectancy. For instance, among participants with cardiometabolic disease, having ideal CVH was associated with life expectancy gains of 5.50 years for males and 4.20 years for females, at an index age of 45 years. As a result, rising market is predicted to be significantly impacted by surge in investments and fundings as well.
Global Cardiovascular Devices Market Growth Drivers
Rising Prevalence of Chronic Cardiac Diseases
Globally, the prevalence of chronic heart disease has significantly increased, which has raised demand for cardiovascular devices. Numerous reasons, such as sedentary lifestyles, improper diet, and an aging population are driving this trend. According to projections from the American Heart Association, in 2020, the percentage of global deaths attributed to cardiovascular disease escalated from 28.9% to 36.3%. Furthermore, in terms of years of lives lost, cardiovascular disease is anticipated to transition from the fourth to the foremost position in ranking. This is leading to an increased application of cardiovascular devices, intended to combat the burden of rising cardiac morbidities.
Advancements in Technology to Meet the Increasing Cardiovascular Devices Market Demand
Technological advancements in cardiovascular medicines have ushered in a transformative era, where innovations like minimally invasive procedures, advanced imaging techniques, and the integration of artificial intelligence (AI) are revolutionizing both surgical and diagnostic approaches. Notably, AI or machine learning algorithms have become indispensable tools in the diagnosis and treatment of acute stroke. It helps by automating the detection of intracranial hemorrhage and large vessel occlusions on CT scans, while also accurately identifying early ischemic changes without the need for diffusion-weighted MRI.
Reduced Prices of Cardiovascular Therapeutic Devices
The decreased prices of crucial cardiovascular therapeutic devices, such as coronary stents, have made treatments more accessible, particularly in developing countries. This affordability has led to increased adoption rates and a broader patient population seeking cardiac interventions.
Global Cardiovascular Devices Market Trends
| Trends | Impact |
| Adoption of Remote Monitoring Technologies | Remote monitoring technologies, such as wearable devices and telemedicine solutions, enable continuous monitoring of cardiac health, improving patients care and outcomes. Cardiovascular devices are experiencing an increased integration of such technologies to expand its reach and facilitate more effective management of chronic cardiac conditions. |
| Growth in Demand for Transcatheter Therapies | Transcatheter therapies, including transcatheter aortic valve replacement (TVAR) and transcatheter mitral valve repair (TMVR), are gaining traction due to its minimally invasive nature and efficacy. |
| Expansion of Remote Consultation Services | This trend facilitates virtual appointments with cardiologists, enabling patients to receive timely guidance, and adjust treatment plans. This not only offers enhanced convenience for patients but also optimizes healthcare resources while reduces the burden on healthcare facilities. |
| Increased Consolidation and Strategic Acquisitions | In recent years, consolidation efforts and strategic acquisitions by major firms have increased significantly in the cardiovascular devices market. Through mergers and acquisitions businesses are actively looking to diversify their product lines, improve their technological prowess, and increase their market share. Through these calculated actions, businesses can have access to new technologies, intellectual properties, and distribution networks, improving their ability to adapt to changing consumer demands and market conditions. By encouraging innovation, optimizing processes, and eventually enhancing product offers and consumer pleasure, these consolidation attempts are changing the market. They may also result in more competition and efficiency. |
Global Cardiovascular Devices Market Segmentation
Market Breakup by Device Type
- Diagnostic and Monitoring Devices
- Electrocardiography (ECG)
- Remote Cardiac Monitoring
- Others
- Therapeutic and Surgical Devices
- Pacemakers
- Stents
- Heart Valve
- Others
Market Breakup by Application
- Coronary Artery Disease
- Heart Failure
- Others
Market Breakup by End User
- Hospitals
- Specialty Clinics
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Cardiovascular Devices Market Share
Market Segmentation Based on Device Types Poised for Growth
In terms of device types, the market segmentation includes diagnostic and monitoring devices, along with therapeutic and surgical devices. Diagnostic and monitoring devices encompass electrocardiography (ECG), remote cardiac monitoring, and other advanced technologies. The increasing prevalence of cardiovascular diseases, coupled with the rising demand for early detection and continuous monitoring, is expected to drive significant growth in this segment. On the other hand, therapeutic and surgical devices such as pacemakers, stents, heart valves, and other interventional tools are vital for treating various cardiovascular conditions. The adoption of minimally invasive procedures and advancements in device technologies are likely to propel the market share of this segment.
Market Breakdown by Applications set to Drive Market Growth
Market segmentation based on applications in the cardiovascular devices market includes coronary artery disease, heart failure, and other related conditions, reflecting the escalating global burden of these diseases and the demand for effective diagnostic and therapeutic interventions. The ARIC study estimates an annual incidence of 605,000 new myocardial infraction attacks and 200,000 recurrent attacks, with 170,000 categorized as silent events. Disparities in care are evident, as an analysis of the National inpatient sample revealed that females are less likely to undergo coronary intervention compared to males, with a consequent higher risk of mortality. Consequently, the market share based on application areas is projected to be contribute a significant value to the market.
Global Cardiovascular Devices Market Analysis by Region
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa are all included in the regional market analysis. With their sophisticated healthcare systems and presence of top medical device producers, North America and Europe are expected to hold a sizable portion of the market. Its supremacy is partly attributed to the existence of well-established healthcare systems and advantageous payment regulations. However, due to reasons like rising healthcare costs, and easier access to cutting-edge healthcare services, Asia Pacific is expected to experience significant growth. Countries like India and China are emerging as key markets due to their large patient populations and growing investments in healthcare infrastructure development. Additionally, collaborations between healthcare providers and technology companies are expected to accelerate market growth in the region.
Leading Players in the Global Cardiovascular Devices Market
The key features of the market report include patent analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Boston Scientific Corporation
- Abbott
- Medtronic
- B. Braun SE
- Cardinal Health
- TERUMO CORPORATION
- Edwards Lifesciences Corporation
- GE HealthCare
- Siemens Healthcare Private Limited
- LivaNova PLC
- W. L. Gore & Associates, Inc.
- Shanghai MicroPort Medical (Group) Co., Ltd.
- AngioDynamics
- BD
- Koninklijke Philips N.V.
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Device Type |
|
| Breakup by Application |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
|
| Companies Covered |
|
Key Questions Answered in the Global Cardiovascular Devices Market
- What was the global cardiovascular devices market value in 2023?
- What is the global Cardiovascular Devices Market Forecast outlook for 2024-2032?
- What factors contribute to global cardiovascular devices market demand?
- What are the major global cardiovascular devices market trends?
- What are the different categories of cardiovascular devices in terms of diagnostic and monitoring?
- What therapeutic and surgical devices are commonly used in cardiovascular interventions?
- How do these device types contribute to the overall market landscape?
- What are the primary applications for cardiovascular devices beyond coronary artery disease and heart failure?
- Which healthcare facilities primarily utilize cardiovascular devices, and why?
- What are the regional differences in the adoption and utilization of cardiovascular devices?
- How do market dynamics vary across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?
- Are these specific trends or challenges unique to each geographical region in the cardiovascular devices market?
- What is patent landscape of the market?
- What are the current unmet needs and challenges in the market?
- How are partnerships, collaborations, and merges & acquisitions among the key market players shaping the market dynamics?
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Cardiovascular Devices Market Overview
3.1 Global Cardiovascular Devices Market Historical Value (2017-2023)
3.2 Global Cardiovascular Devices Market Forecast Value (2024-2032)
4 Global Cardiovascular Devices Market Landscape*
4.1 Global Cardiovascular Devices Market: Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Cardiovascular Devices Market: Product Landscape
4.2.1 Analysis by Device Type
4.2.2 Analysis by Application
4.2.3 Analysis by End-User
5 Global Cardiovascular Devices Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.2.1 Strengths
5.2.2 Weaknesses
5.2.3 Opportunities
5.2.4 Threats
5.3 Porter’s Five Forces Model
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Threat of Substitutes
5.3.5 Degree of Rivalry
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Cardiovascular Devices Market Segmentation (2017-2032)
6.1 Global Cardiovascular Devices Market (2017-2032) by Device Type
6.1.1 Market Overview
6.1.2 Diagnostic and Monitoring Devices
6.1.2.1 Electrocardiography (ECG)
6.1.2.2 Remote Cardiac Monitoring
6.1.2.3 Others
6.1.3 Therapeutic and Surgical Devices
6.1.3.1 Pacemakers
6.1.3.2 Stents
6.1.3.3 Heart Valve
6.1.3.4 Others
6.2 Global Cardiovascular Devices Market (2017-2032) by Application
6.2.1 Market Overview
6.2.2 Coronary Artery Disease
6.2.3 Heart Failure
6.2.4 Others
6.3 Global Cardiovascular Devices Market (2017-2032) by End User
6.3.1 Market Overview
6.3.2 Hospitals
6.3.3 Specialty Clinics
6.3.4 Others
6.4 Global Cardiovascular Devices Market (2017-2032) by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Cardiovascular Devices Market (2017-2032)
7.1 North America Cardiovascular Devices Market (2017-2032) by Device Type
7.1.1 Market Overview
7.1.2 Diagnostic and Monitoring Devices
7.1.2.1 Electrocardiography (ECG)
7.1.2.2 Remote Cardiac Monitoring
7.1.2.3 Others
7.1.3 Therapeutic and Surgical Devices
7.1.3.1 Pacemakers
7.1.3.2 Stents
7.1.3.3 Others
7.2 North America Cardiovascular Devices Market (2017-2032) by Application
7.2.1 Market Overview
7.2.2 Coronary Artery Disease
7.2.3 Heart Failure
7.2.4 Others
7.3 North America Cardiovascular Devices Market (2017-2032) by Country
7.3.1 United States of America
7.3.2 Canada
8 Europe Cardiovascular Devices Market (2017-2032)
8.1 Europe Cardiovascular Devices Market (2017-2032) by Device Type
8.1.1 Market Overview
8.1.2 Diagnostic and Monitoring Devices
8.1.2.1 Electrocardiography (ECG)
8.1.2.2 Remote Cardiac Monitoring
8.1.2.3 Others
8.1.3 Therapeutic and Surgical Devices
8.1.3.1 Pacemakers
8.1.3.2 Stents
8.1.3.3 Others
8.2 Europe Cardiovascular Devices Market (2017-2032) by Application
8.2.1 Market Overview
8.2.2 Coronary Artery Disease
8.2.3 Heart Failure
8.2.4 Others
8.3 Europe Cardiovascular Devices Market (2017-2032) by Country
8.3.1 United Kingdom
8.3.2 Germany
8.3.3 France
8.3.4 Italy
8.3.5 Others
9 Asia Pacific Cardiovascular Devices Market (2017-2032)
9.1 Asia Pacific Cardiovascular Devices Market (2017-2032) by Device Type
9.1.1 Market Overview
9.1.2 Diagnostic and Monitoring Devices
9.1.2.1 Electrocardiography (ECG)
9.1.2.2 Remote Cardiac Monitoring
9.1.2.3 Others
9.1.3 Therapeutic and Surgical Devices
9.1.3.1 Pacemakers
9.1.3.2 Stents
9.1.3.3 Others
9.2 Asia Pacific Cardiovascular Devices Market (2017-2032) by Application
9.2.1 Market Overview
9.2.2 Coronary Artery Disease
9.2.3 Heart Failure
9.2.4 Others
9.3 Asia Pacific Cardiovascular Devices Market (2017-2032) by Country
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 ASEAN
9.3.5 Australia
9.3.6 Others
10 Latin America Cardiovascular Devices Market (2017-2032)
10.1 Latin America Cardiovascular Devices Market (2017-2032) by Device Type
10.1.1 Market Overview
10.1.2 Diagnostic and Monitoring Devices
10.1.2.1 Electrocardiography (ECG)
10.1.2.2 Remote Cardiac Monitoring
10.1.2.3 Others
10.1.3 Therapeutic and Surgical Devices
10.1.3.1 Pacemakers
10.1.3.2 Stents
10.1.3.3 Others
10.2 Latin America Cardiovascular Devices Market (2017-2032) by Application
10.2.1 Market Overview
10.2.2 Coronary Artery Disease
10.2.3 Heart Failure
10.2.4 Others
10.3 Latin America Cardiovascular Devices Market (2017-2032) by Country
10.3.1 Brazil
10.3.2 Argentina
10.3.3 Mexico
10.3.4 Others
11 Middle East and Africa Cardiovascular Devices Market (2017-2032)
11.1 Middle East and Africa Cardiovascular Devices Market (2017-2032) by Device Type
11.1.1 Market Overview
11.1.2 Diagnostic and Monitoring Devices
11.1.2.1 Electrocardiography (ECG)
11.1.2.2 Remote Cardiac Monitoring
11.1.2.3 Others
11.1.3 Therapeutic and Surgical Devices
11.1.3.1 Pacemakers
11.1.3.2 Stents
11.1.3.3 Others
11.2 Middle East and Africa Cardiovascular Devices Market (2017-2032) by Application
11.2.1 Market Overview
11.2.2 Coronary Artery Disease
11.2.3 Heart Failure
11.2.4 Others
11.3 Middle East and Africa Cardiovascular Devices Market (2017-2032) by Country
11.3.1 Saudi Arabia
11.3.2 United Arab Emirates
11.3.3 Nigeria
11.3.4 South Africa
11.3.5 Others
12 Regulatory Framework
12.1 Regulatory Overview
12.1.1 US FDA
12.1.2 EU EMA
12.1.3 INDIA CDSCO
12.1.4 JAPAN PMDA
12.1.5 Others
13 Patent Analysis
13.1 Analysis by Component of Patent
13.2 Analysis by Publication year
13.3 Analysis by Issuing Authority
13.4 Analysis by Patent Age
13.5 Analysis by CPC Analysis
13.6 Analysis by Patent Valuation
13.7 Analysis by Key Players
14 Grants Analysis
14.1 Analysis by Year
14.2 Analysis by Amount Awarded
14.3 Analysis by Issuing Authority
14.4 Analysis by Grant Application
14.5 Analysis by Funding Institute
14.6 Analysis by Departments
14.7 Analysis by Recipient Organization
15 Funding and Investment Analysis
15.1 Analysis by Funding Instances
15.2 Analysis by Component of Funding
15.3 Analysis by Funding Amount
15.4 Analysis by Leading Players
15.5 Analysis by Leading Investors
15.6 Analysis by Geography
16 Partnership and Collaborations Analysis
16.1 Analysis by Partnership Instances
16.2 Analysis by Component of Partnership
16.3 Analysis by Leading Players
16.4 Analysis by Geography
17 Supplier Landscape
17.1 Market Share by Top 5 Companies
17.2 Boston Scientific Corporation
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Abbott
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Medtronic
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 B. Braun SE
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Cardinal Health
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 TERUMO CORPORATION
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Edwards Lifesciences Corporation
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 GE HealthCare
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Siemens Healthcare Private Limited
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 LivaNova PLC
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 W. L. Gore & Associates, Inc.
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Shanghai MicroPort Medical (Group) Co.,Ltd.
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 AngioDynamics
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
17.15 BD
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisitions
17.15.5 Certifications
17.16 Koninklijke Philips N.V.
17.16.1 Financial Analysis
17.16.2 Product Portfolio
17.16.3 Demographic Reach and Achievements
17.16.4 Mergers and Acquisitions
17.16.5 Certifications
18 Global Cardiovascular Devices Market – Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
* The coverage of the Market Landscape section depends on the data availability and may cover a minimum of 80% of the total market. The EMR team strives to make this section as comprehensive as possible.
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