Global Cardiovascular Devices Market Analysis and Forecast to 2031: By Type (Diagnostic & Monitoring Devices and Therapeutic & Surgical Devices), Application (Cardiac Rhythm Management & Heart Failure, Coronary Vascular, Structural Heart, Peripheral Vascu

Global Cardiovascular Devices Market Analysis and Forecast to 2031: By Type (Diagnostic & Monitoring Devices and Therapeutic & Surgical Devices), Application (Cardiac Rhythm Management & Heart Failure, Coronary Vascular, Structural Heart, Peripheral Vascular, and Others), End User (Hospitals, Surgical Centers), and Region

The global cardiovascular devices market size was USD 53.3 billion in 2021 and is anticipated to reach USD 91.9 billion in 2031, growing at a rate of 5.2% from 2022 to 2031.


Cardiovascular diseases (CVDs) are a group of disorders of the heart and blood vessels and include coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions. Cardiovascular devices such as stents, catheters, grafts, and others are used to treat CVDs efficiently.

Market Trends and Drivers

The cardiovascular devices control irregularities caused by the heart’s electrical systems, such as irregular heartbeat and heart rhythm disorders. When medication, lifestyle changes, or other treatments do not work, an implantable device may be recommended. Certain factors that are boosting the cardiovascular devices market growth include a rise in the use of ambulatory and home services for cardiac monitoring, the increasing prevalence of cardiovascular disorders, favorable reimbursement policies, and technological advancements.


Besides, the growth of the global cardiovascular devices market is also attributed to the growing demand for high-performance and efficient cardiovascular systems globally. Increasing awareness regarding the benefits of the cardiovascular devices market is expected to positively impact the revenue growth of the market over the forecast period. In addition, developments in cardiovascular devices positively contribute to the growth of the global cardiovascular devices market. Further, the rising demand for cardiovascular devices from emerging economies to treat patients suffering from cardiovascular devices effectively is expected to cater to the growth of the cardiovascular devices industry. Besides, the rise in the number of hospitals in addition to small and medium-sized companies is increasing the demand for cardiovascular devices. Furthermore, technological advancements in cardiovascular devices are anticipated to offer lucrative opportunities for the market players.

Market Restraints & Challenges

One of the major factors hindering the global cardiovascular devices market growth is the stringent regulatory requirements that delay the approval of cardiac devices. In addition, the other concern & risk connected to the market is that the therapeutic radiation used in cancer treatment affects the operation of a patient with implantable cardiac rhythm devices. This device uses complementary metal-oxide-semiconductor (CMOS) which are susceptible to damage by the therapeutic doses of radiation. This factor is one of the major factors that limits the scope of using cardiac devices, as the implants are highly sensitive and their malfunctioning may have serious consequences. Besides, the high cost of these devices along with limited insurance coverage is restraining the growth of the market.

Global Cardiovascular Devices Market Segmentation

The report analyses the cardiovascular devices market based on type, application, end-users, and regions.

Global Cardiovascular Devices Market By Type

Based on type, it is segmented into diagnostic & measuring devices, and therapeutic & surgical devices. The diagnostic & measuring devices is sub-segmented into electrocardiogram (ECG), remote cardiac monitoring, and others. Likewise, the therapeutic & surgical devices segment is also sub-segmented into cardiac rhythm management, catheter, stents, heart valves, and others. The demand for diagnostic & measuring cardiovascular devices is expected to grow significantly in the forecast period. The growth of this segment can be attributed to the increasing demand for minimally invasive surgeries is growing the application of surgical instruments in the treatment of coronary artery disease.

Global Cardiovascular Devices Market By Application

By application, it is divided into cardiac rhythm management, coronary vascular, structural heart, peripheral vascular, and others. The demand in the cardiovascular devices market for peripheral vascular is expected to grow significantly in the forecast period. Cardiac rhythm management is expected to hold a significant share of the market due to the rise in the deployment of cardiovascular devices in small, medium, and large organizations globally. In addition, there has been an increase in demand for efficient and reliable peripheral vascular and structural heart devices in several regions globally. Thus, the demand in the cardiovascular devices market would rise during the forecast period.

Global Cardiovascular devices Market By End-User

By end-user, it is categorized into hospitals and specialty centers. The demand for cardiovascular devices in hospitals is expected to grow significantly during the forecast period. A variety of surgeries such as interventional cardiac procedures, open-heart surgery, and occlusion procedures are performed in the hospital cardiac departments. The rise in spending on healthcare infrastructure in emergent economies has resulted in the usage of cutting-edge cardiac devices in these facilities. In addition, numerous hospitals globally are funding to expand the cardiology unit. Therefore, due to the high procedural volume along with a preference for well-resourced facilities by patients, the hospital segment will witness robust growth in the upcoming years.

Geographical Analysis of Global Cardiovascular Devices Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounts for the largest market share in the cardiovascular devices market as the U.S. and Canada are investing in the R&D of these devices. In addition, factors such as rapid development in the healthcare industry, and growing demand for effective cardiovascular devices are anticipated to propel the growth of the Asia-Pacific cardiovascular devices market. Besides, the presence of numerous medium-to-large players in North America and European countries is also attributable to rapid revenue growth. Thus, the demand for the cardiovascular devices market would have a positive influence in the forecast period.

Major Players of the Global Cardiovascular devices Market

The global cardiovascular devices market report includes players such as Abbott Laboratories, B. Braun Melsungen AG, Becton, Dickinson and Company, Biotronik SE & Co. KG, Boston Scientific Corp., Cardinal Health Inc., Cook Medical, Koninklijke Philips N.V., Medtronic plc., and Terumo Corporation.


Prominent players in the industry such as Abbott Laboratories, Boston Scientific Corp., and Medtronic plc. are focusing on adopting acquisition as their key developmental strategy to boost the product offerings of cardiovascular devices. For instance, in February 2022, Boston Scientific acquired Baylis Medical Company Inc., which offers advanced transseptal access solutions along with guidewires, sheaths, and dilators used to support catheter-based left-heart procedures.

COVID-19 Analysis:

According to the International Monetary Fund (IMF), due to the epidemic of a novel coronavirus, the worldwide economy decreased by over 3.0% in 2020. Several nations were under strict lockdowns in 2020 & 2021, which have impacted the supply of raw materials. Therefore, due to this, the manufacturing activities of cardiovascular device producers have ceased. While some cardiovascular procedures are considered urgent, others have been postponed and delayed since the beginning of the global pandemic. The other aspect negatively affecting the market is the drop in the diagnosis of cardiovascular diseases owing to healthcare resources being reserved for COVID-19 patients. Besides, several medical device companies have suffered losses in their cardiovascular device businesses owing to the pandemic. To cite an instance, Medtronic plc announced a reduction of nearly one-third in its cardiac and vascular business sector in its 2020 quarterly financial results. Moreover, demand for cardiovascular devices from hospitals has been dropped amid their stopped operations, due to government-imposed lockdown measures. This is anticipated to hamper the cardiovascular devices market growth during the forecast period.

Recent Developments:

• In February 2022, Medtronic plc received approval by the U.S. Food and Drug Administration, for (FDA) Freezor and Freezor Xtra Cardiac Cryoablation Focal Catheters. They are the first and only ablation catheters approved to treat the growing prevalence of pediatric Atrioventricular Nodal Reentrant Tachycardia (AVNRT).
• In January 2022, Abbott Laboratories received approval from the U.S. Food and Drug Administration, for the EnSite X EP System with EnSite Omnipolar Technology (OT). It’s a new cardiac mapping platform.
• In January 2022, Cook Medical introduced Instinct Plus Endoscopic Clipping Device in the United States. The new device features smoother operation and responsive handling, strong clip retention, and expanded indications with side-viewing compatibility.
• In July 2021, Abbott Laboratories launched Jot Dx, its latest insertable cardiac monitor (ICM) in the U.S. Jot Dx ICM is supported by SyncUP, a personalized service that delivers one-on-one training and education to help patients connect and stay connected to their ICM.
• In 2020, Biosense Webster, located in the U.S. announced the CE Mark approval for QDOT MICRO, a short-duration & powered ablation catheter. This has helped the company in expanding its product portfolio, thereby promoting its revenue growth.

Cardiovascular Devices Market Report Coverage

• The report offers a comprehensive quantitative as well as qualitative analysis of the current global cardiovascular devices market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
• A thorough analysis of market trends and restraints is provided.
• Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
• The forecasts in this report are made by examining the recent trends along with future cardiovascular market potential from 2021 to 2031 in terms of revenue.
• Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the market are also analyzed.
• Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global cardiovascular devices industry.

 Frequently Asked Questions

Q. How big is the cardiovascular devices market?Ans. The global cardiovascular devices market size was USD 53.3 billion in 2021 and is anticipated to reach USD 91.9 billion in 2031, growing at a rate of 5.2% from 2022 to 2031.
Q. What is the cardiovascular devices market growth rate?Ans. The growth rate of the cardiovascular devices market is 5.2% from 2022 to 2031.
Q. Which region holds a major market share for the cardiovascular devices market?Ans. North America holds a major market share of the cardiovascular devices market in 2021.
Q. Which segment accounted for the largest cardiovascular devices market share?Ans. By end-user, the hospital segment accounted for the largest cardiovascular devices market share
Q. Who are the key players in the cardiovascular devices market?Ans. Abbott Laboratories, B. Braun Melsungen AG, Becton, Dickinson and Company, Biotronik SE & Co. KG, Boston Scientific Corp., Cardinal Health Inc., Cook Medical, Koninklijke Philips N.V., Medtronic plc., and Terumo Corporation.
Q. What are the factors driving the cardiovascular devices market growth?Ans. The major factors driving the growth of the market are the rise in prevalence of obesity & diabetes along with growth in investments for R&D activities in cardiovascular devices.
Q. What are the key growth strategies of cardiovascular devices market players?Ans. The key growth strategies of cardiovascular devices market players are product launch and product approval.
Q. Which region will provide more business opportunities for the cardiovascular devices market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the cardiovascular devices market during the forecast period