Germany Cardiovascular Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Germany Cardiovascular Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Germany Cardiovascular Devices Market is expected to register a CAGR of 5.6% during the forecast period.

The COVID-19 pandemic severely impacted the cardiovascular devices market as there was a disruption in supply chain management, and cardiac surgeries were on hold impacting the cardiovascular devices employed in the diagnosis and surgical procedure. For instance, an article titled "COVID-19: retrospective analysis of cardiac surgery capacity in German heart centers" published in the European Heart Journal in August 2022 stated that on 1 January 2020, in 53 German cardiac surgery departments 800 intensive care beds were allocated. This capacity was reduced to 595 beds in April 2021 by a 25.6% decrease. As a result, the number of operating rooms for cardiac surgery procedures was reduced from 207 to 152 (-26.9%) during the first two lockdowns. As elective surgeries and diagnostics were reduced, the pandemic adversely impacted cardiovascular devices used to treat and diagnose cardiovascular diseases.

In addition, the increasing burden of cardiovascular diseases and increased preference for minimally invasive procedures are actively affecting the growth of the studied market. As per the German Heart Surgery Report 2021 statistics, in 2021, there are about 161,261 cardiac procedures performed in Germany, out of 36,714 heart valve procedures and 19,490 are pacemaker and ICD-related procedures. Such a high number of cardiac procedures increases the demand for cardiovascular devices in Germany.

The technological advancements in cardiovascular devices, launches, partnerships, and acquisitions by key market players in Germany are likely to boost the studied market growth over the forecast period. For instance, in August 2022, AIBODY, one of the world's first Physiology-as-a-Service platforms, collaborated with the German Heart Centre Berlin (DHZB), a medical research institute specializing in cardiovascular disease. The collaboration is focused on the creation of cutting-edge solutions that will simplify congenital heart disease diagnosis and care. These initiatives are projected to augment the growth of cardiovascular devices in Germany.

Also, in October 2021, ReCor Medical Launched the Paradise Ultrasound Renal Denervation for the Treatment of Hypertension in Germany. The product launches and partnerships are likely to boost cardiovascular devices' growth in the country.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. however, stringent regulatory policies are likely to impede the market growth.

Key Market TrendsCatheter is Expected to Dominate the Cardiovascular Devices Market Over the Forecast Period

A catheter is a thin, flexible tube that is guided through a blood vessel to the heart to diagnose or treat certain heart conditions, such as clogged arteries or irregular heartbeats. The segment is expected to observe good growth due to the increasing burden of cardiovascular, diseases, increasing usage of minimally invasive procedures, and the rising demand for antimicrobial catheters.

The article titled "Epidemiology of heart failure" published in the European Journal of Heart Failure in June 2020 stated that the estimated prevalence of heart failure in Germany based on health care claims data of over 3 million inhabitants was 4% for both men and women. The high burden of heart-related diseases is expected to augment the segment's growth in the coming years.

The rising advancements in cardiac catheters, approvals, launches, partnerships, and acquisitions by the key market players are fueling the segment's growth over the forecast period. For instance, in July 2021 Medtronic plc launched its Prevail drug-coated balloon (DCB) Catheter in the European region including Germany following the CE (Conformité Européene) mark.

Thus, owing to the growing demand for minimally invasive surgeries and technological advancements, there is a growth in the catheter segment of the studied market.

Competitive Landscape

The German cardiovascular devices market is slightly consolidated in nature. The major players have established themselves in specific segments of the market. Some of the players who are currently dominating the market are Abbott Laboratories, Boston Scientific Corporation, Cardinal Health Inc, Edwards Lifesciences, GE Healthcare, W. L. Gore & Associates, Inc, Medtronic PLC, Biotronik, Siemens Healthineers AG, and Canon Medical Systems Corporation.

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• The market estimate (ME) sheet in Excel format
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