Cardiovascular Devices

Cardiovascular Devices

Global Cardiovascular Devices Market to Reach US$80.8 Billion by 2030

The global market for Cardiovascular Devices estimated at US$51.1 Billion in the year 2023, is expected to reach US$80.8 Billion by 2030, growing at a CAGR of 6.8% over the analysis period 2023-2030. Surgical Devices, one of the segments analyzed in the report, is expected to record a 6.3% CAGR and reach US$58.3 Billion by the end of the analysis period. Growth in the Diagnostic & Monitoring Devices segment is estimated at 7.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$13.9 Billion While China is Forecast to Grow at 10.8% CAGR

The Cardiovascular Devices market in the U.S. is estimated at US$13.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$17.5 Billion by the year 2030 trailing a CAGR of 10.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.9% and 6.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.

Global Cardiovascular Devices Market - Key Trends and Drivers Summarized

Cardiovascular devices are medical instruments and implants used to diagnose, monitor, and treat diseases related to the heart and the vascular system. These devices play a crucial role in managing a wide range of cardiovascular conditions, such as arrhythmias, heart failure, coronary artery disease, and peripheral vascular diseases. The main types of cardiovascular devices include Pacemakers; Implantable Cardioverter Defibrillators (ICDs); Stents; Cardiac Loop Recorders; Ventricular Assist Devices (VADs); Prosthetic Heart Valves; Cardiac Ablation Catheters; Coronary Pressure Monitors; Cardiac Resynchronization Therapy (CRT) Devices, among others. The implantation of cardiac devices has shown substantial benefits in improving the quality of life for patients suffering from cardiac arrhythmias, heart failure, and related conditions. These devices encompass a wide range of technologies tailored to specific patient needs, including pacemakers for managing bradycardia, implantable cardioverter-defibrillators (ICDs) for preventing sudden cardiac death, and left-ventricular assist devices (LVADs) that take over the pumping function of the heart in severe cases. Additionally, developments in cardiac loop recorders, ventricular assist devices, and stents have significantly advanced the field. These devices not only provide critical support for heart function but also play a pivotal role in managing complex cardiac conditions, thereby improving patient outcomes and extending lives.

The systematic review of trials highlighted a substantial improvement in patients` quality of life post-implantation, with the largest gains seen in LVAD and pacemaker recipients. The efficacy of these devices is attributed to their ability to alleviate severe symptoms and improve functional capacity, which is crucial in chronic conditions where quality of life is severely compromised. Furthermore, the studies suggest a growing recognition of quality of life measurements in clinical settings, advocating for their regular assessment to guide therapeutic decisions effectively. This shift is mirrored in the broader medical community, where there is an increasing focus on holistic treatment outcomes that include psychological well-being and patient-centric care, suggesting a paradigm shift towards integrating medical and psycho-social care models.

The growth in the cardiac device market is driven by several factors, including technological advancements that enhance device efficacy and patient safety, and the integration of these devices with digital health technologies for improved patient monitoring and management. The rising prevalence of cardiovascular diseases globally necessitates the development and adoption of advanced therapeutic devices. Additionally, expansions in healthcare infrastructure, particularly in emerging economies, along with evolving regulatory and reimbursement landscapes, are influencing the adoption rates of these technologies. Increased awareness among patients about the benefits of cardiac device therapies and a shift in healthcare provider preferences towards less invasive and more effective treatment options are further catalyzing the market growth. Lastly, substantial investments in research and development by medical device companies are fueling innovations that promise to deliver safer and more efficient cardiovascular devices, thus enhancing overall patient outcomes.

Select Competitors (Total 74 Featured) -

• Abbott Laboratories
• Abiomed, Inc.
• B. Braun SE
• Baxter International, Inc.
• Biosensors International Group
• BIOTRONIK SE & Co. KG
• Boston Scientific Corporation
• Cardinal Health, Inc.
• GE Healthcare
• LivaNova PLC
• Medtronic Plc
• Nano Therapeutics Pvt., Ltd.
• Siemens Healthineers AG
• Teleflex, Inc.
• Terumo Corp
• W. L. Gore & Associates, Inc. (Gore Medical Products Division);

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