Cardiovascular Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cardiovascular Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global cardiovascular devices market size reached US$ 55.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 82.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.

Cardiovascular devices refer to various medical instruments that are employed for diagnosing and treating heart diseases and related health problems. They are designed to aid in disease monitoring and surgical interventions. Some commonly used cardiovascular devices include stents, heart valves, grafts, catheters, electrocardiogram (ECG), remote cardiac monitoring, and cardiac assist devices. Cardiovascular devices find extensive applications across the healthcare sector as they assist in managing life-threatening conditions effectively, minimizing patient discomfort, and enhancing the quality of life. Nowadays, manufacturers are focusing on developing advanced implantable cardiovascular devices, which is escalating their demand across the globe.

Cardiovascular Devices Market Trends:

The widespread prevalence of cardiovascular diseases (CVDs) on account of sedentary lifestyles, and unhealthy dietary patterns and habits, such as smoking and alcohol consumption, represents the primary factor driving the market growth. Besides this, the growing geriatric population is another major growth-inducing factor as they are more susceptible to chronic heart ailments. Additionally, there has been a significant increase in the adoption of home healthcare devices. Along with this, the rising need for compact cardiovascular devices that enable patient mobility and simultaneously provide real-time data is augmenting the product demand. Furthermore, the leading players are focusing on research and development (R&D) activities to launch innovative product variants integrated with advanced technologies and features, thereby contributing to the market growth. Moreover, the rising awareness regarding the available cardiovascular devices among the masses and the shifting preferences toward minimally invasive (MI) procedures are accelerating the product adoption rates. Other factors, including the launch of wireless ECG, growing demand for continuous and home-based monitoring, and technological advancements, are also creating a positive market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cardiovascular devices market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on device type, application and end user.

Breakup by Device Type:

Diagnostic and Monitoring Devices

Electrocardiogram (ECG)

Remote Cardiac Monitoring

Others

Therapeutic and Surgical Devices

Cardiac Rhythm Management (CRM) Devices

Catheter

Stents

Heart Valves

Others

Breakup by Application:

Coronary Artery Disease (CAD)

Cardiac Arrhythmia

Heart Failure

Others

Breakup by End User:

Hospitals

Specialty Clinics

Others

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, B. Braun Melsungen AG, Biotronik, Boston Scientific Corporation, Canon Medical Systems Corporation, Cardinal Health Inc., Edwards Lifesciences Corporation, General Electric Company, LivaNova PLC, Medtronic PLC, Siemens Healthineers GmbH (Siemens AG) and Terumo Cardiovascular Systems Corporation (Terumo Corporation).

Key Questions Answered in This Report

1. What was the size of the global cardiovascular devices market in 2022?

2. What is the expected growth rate of the global cardiovascular devices market during 2023-2028?

3. What has been the impact of COVID-19 on the global cardiovascular devices market?

4. What are the key factors driving the global cardiovascular devices market?

5. What is the breakup of the global cardiovascular devices market based on the device type?

6. What is the breakup of the global cardiovascular devices market based on the application?

7. What is the breakup of the global cardiovascular devices market based on the end user?

8. What are the key regions in the global cardiovascular devices market?

9. Who are the key players/companies in the global cardiovascular devices market?