11-May-2023 | Facts and Factors
According to the Facts and Factors report, the global cardiovascular devices market size is valued at USD 5.8 billion in 2022 and is expected to reach USD 20.34 billion during the forecast period. The market is expected to grow at a compound annual rate of 13% during 2023-2030. The global cardiovascular devices market report covers all aspects, including the potential growth drivers, restraints, and leading market players. Also, it offers detailed key insights into the opportunities and challenges in the market environment. The report also explores market segmentation and regional developments in the cardiovascular devices industry.
Cardiovascular devices are the medical instruments used to treat heart diseases. These devices are used to diagnose several other heart-related health problems. Coronary stents, artificial heart valves, and endovascular grafts are some of the common cardiovascular devices. Cardiovascular diseases have emerged as the main cause of mortality and mobility globally in recent years.
Browse the full “Cardiovascular Devices Market Size, Share, Growth Analysis Report By Device Type (Therapeutic & Surgical Devices And Diagnostic & Monitoring Devices), By End users (Specialty Clinics And Hospitals), By Applications (Heart Failure, Cardiac Arrhythmia, And Coronary Artery Disease), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” report at https://www.fnfresearch.com/cardiovascular-devices-market
Today, most office work is done digitally, compelling employees to sit on a digital system for long hours to earn their living. Additionally, the number of women employees is constantly increasing, thereby complementing the number of sitting staff. Also, owing to the advancements in living standards and home technology, most of the work at home can be done easily without much hassle of moving.
Such a landscape is likely to offer many lucrative growth opportunities in the global cardiovascular devices market. The surging geriatric population is one of the primary reasons for the growth of the global market. Also, unhealthy eating habits of people are increasing the risk of cardiovascular diseases.
Furthermore, the high use of tobacco and physical inactivity are likely to complement the growth of the global cardiovascular devices market. The growing cost of healthcare services is likely to hamper the growth of the global market. The cost of cardiovascular surgical operations is quite high and therefore restricts a large number of the population from undergoing cardiovascular surgery.
However, people are looking forward to the early diagnosis procedure of cardiovascular diseases. Thereby, there is a huge scope for cardiovascular diagnostic devices in the coming years.
Segmental Overview:
The global cardiovascular devices market can be segmented into end users, device type, applications, and region.
On the basis of end users, the market can be segmented into hospitals, specialty clinics, and others. The hospital segment accounts for the largest share of the global market due to the presence of skilled professionals in the center. Also, several other medical services required during surgical operations are available in one place.
On the basis of device type, the cardiovascular devices industry can be segmented into diagnostic & monitoring devices and therapeutic & surgical devices. The diagnostic & monitoring devices segment is also categorized into electrocardiogram, remote cardiac monitoring, and others.
The therapeutic & surgical devices segment is also categorized into cardiac rhythm management devices, stents, catheters, heart valves, and ventricular assist devices. The diagnostic & monitoring devices segment dominates the global market owing to the increasing willingness of people for early diagnosis.
On the basis of applications, the market is also categorized into heart failure, cardiac arrhythmia, and coronary artery disease. Heart failure is the fastest-growing segment in the global cardiovascular devices market due to the high demand for devices like ventricular assist devices (VAD).
Regional Overview:
Asia Pacific accounts for the largest share of the global cardiovascular devices market due to the high population in the region. Furthermore, the growing disposable income of people along with rising living standards is supporting the positive growth of the global market. The high living standards of people are allowing them to adopt continuous home-based monitoring which is further likely to create several new opportunities in the region during the forecast period.
Europe is another leading region in the cardiovascular devices industry due to the presence of strong reimbursement healthcare policies in the region. Furthermore, the presence of strong competitive players in the region is further likely to boost the growth of the regional market in the coming years.
Report Scope
Report Attribute |
Details |
Market Size in 2022 |
USD 5.8 Billion |
Projected Market Size in 2030 |
USD 20.34 Billion |
CAGR Growth Rate |
13% CAGR |
Base Year |
2022 |
Forecast Years |
2023-2030 |
Key Market Players |
Boston Scientific Corporation, Medical Instruments Spa, LivaNova PLC, Lifetech Scientific, Getinge AB, CardioFocus, Occlutech, Stereotaxis Inc, CardioFocus, AngioDynamics Inc, Japan Lifeline Co. Ltd., Medtronic, Biosense Webster, MicroPort Scientific Corporation, Abbott Laboratories, Lepu Medical Technology(Beijing)Co Ltd, Saphena Medical, Terumo Corporation, Biotronik SE & Co KG, and others. |
Key Segment |
By Device Type, End users, Applications, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Competitive Landscape:
The global cardiovascular devices market player includes Terumo Corporation, Boston Scientific Corporation, LivaNova PLC, Lifetech Scientific, Getinge AB, CardioFocus, Occlutech, Stereotaxis, Inc, CardioFocus, AngioDynamics, Inc, Japan Lifeline Co., Ltd., Medtronic, Biosense Webster, MicroPort Scientific Corporation, Medical Instruments Spa, Abbott Laboratories, Lepu Medical Technology(Beijing)Co Ltd, Saphena Medical, Biotronik SE & Co KG, and others.
Recent Developments:
- Abbott in April 2022 got approval for its Aveir single-chamber (VR) leadless pacemaker from the United States FDA for treating patients in the US with slow heart rhythms.
- Philips in February 2022 announced to help the American Heart Association to create awareness among cross-disciplinary specialties to improve survival rates from cardiovascular implantable electronic device (CIED) infections.
The global cardiovascular devices market is segmented as follows:
By Device Type
- Therapeutic & Surgical Devices
- Diagnostic & Monitoring Devices
By End users
- Specialty Clinics
- Hospitals
By Applications
- Heart Failure
- Cardiac Arrhythmia
- Coronary Artery Disease
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