Global Cardiovascular Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Cardiovascular Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Cardiovascular Devices market finds that the global Cardiovascular Devices market reached a value of USD 61616.72 million in 2022. It’s expected that the market will achieve USD 79078.06 million by 2028, exhibiting a CAGR of 4.25% during the forecast period.

Influence of COVID-19 Outbreak on Cardiovascular Devices Industry Development

The COVID-19 epidemic is infected with large number of people, and its spread and scope far exceed SARS. Countries around the world continue to increase prevention and control to control the spread of the epidemic, but the impact of the epidemic on various industries is different. In the short term, the profits of the cardiovascular devices industry will not be greatly affected. In the long run, COVID-19 will promote the deepening of medical reform and make the cardiovascular devices industry develop steadily. Cardiovascular device is a special industry directly related to epidemics. To ensure that medical materials are provided for the epidemic, the industry prioritizes resuming work over other industries. In the short term, the performance of epidemic-related product manufacturing companies will greatly improve, and the cardiovascular devices industry will not decline in the short term. In the long run, this epidemic will promote the medical reform process. Under the premise of deepening medical reform, the cardiovascular devices industry will show a stable development trend.

Limitations

With the accelerated internationalization of the medical device industry, medical device products are also circulating in the global market. However, different countries require different qualification certifications for equipment. The wide variety and higher qualification certifications will limit the expansion of the cardiovascular devices market to a certain extent. At the same time, the international political situation has changed a lot. For example, in the Sino-U.S. Trade, the list of Chinese commodities subject to tariffs announced by the Office of the U.S. Trade Representative ranges from syringes and needle (guide) tubes to hemostatic materials such as cotton wool, gauze, and bandages To many medical equipment such as high-end imaging equipment such as ultrasonic scanning electronic diagnostic instruments and surgical magnetic resonance imaging diagnostic instruments, the impact of the trade war will limit the free circulation and further development of cardiovascular devices.
There are many types of cardiovascular devices and high technicality, which brings high equipment maintenance costs. At the same time, there are strict regulatory product approval procedures in the cardiovascular devices market that will hinder the growth of global vertical cardiovascular devices. In view of the strict approval regulations and the high cost of products and procedures and other constraints, the speed of market expansion will be affected.

Region Overview:

US had the highest growth rate of all regions.

Company Overview:

Medtronic is one of the major players operating in the Cardiovascular Devices market, holding a share of 20.33% in 2020.

Medtronic, PLC develops therapeutic and diagnostic medical products. The Company's principal products include those for bradycardia pacing, tachyarrhythmia management, atrial fibrillation management, heart failure management, heart valve replacement, malignant and non-malignant pain, and movement disorders. Medtronic's products are sold worldwide.

Abbott Laboratories discovers, develops, manufactures, and sells a broad and diversified line of health care products and services. The Company's products include pharmaceuticals, nutritional, diagnostics, and vascular products.

Segmentation Overview:

Among different product types, Therapeutic and Surgical Devices segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Hospital segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Cardiovascular Devices market covered in Chapter 3:

Edwards Lifesciences
W.L. Gore
Abbott Laboratories
Medtronic
Boston Scientific
Getinge
Terumo
Johnson & Johnson

In Chapter 4 and Chapter 14.2, on the basis of types, the Cardiovascular Devices market from 2018 to 2029 is primarily split into:

Diagnostic and Monitoring Devices
Therapeutic and Surgical Devices

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Cardiovascular Devices market from 2018 to 2029 covers:

Medical Care
Hospital
Laboratory

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)