Cardiovascular Device Market Share, Size, Trends, Industry Analysis Report, By Device type (Diagnostic and Monitoring Devices; Therapeutic And surgical Devices); By Application; By End-Use; By Region; Segment Forecast, 2024- 2032

Cardiovascular Device Market Share, Size, Trends, Industry Analysis Report, By Device type (Diagnostic and Monitoring Devices; Therapeutic And surgical Devices); By Application; By End-Use; By Region; Segment Forecast, 2024- 2032

The global cardiovascular device market size is expected to reach USD 106.54 billion by 2032, according to a new study by Polaris Market Research. The report “Cardiovascular Device Market Share, Size, Trends, Industry Analysis Report, By Device type (Diagnostic and Monitoring Devices; Therapeutic And surgical Devices); By Application; By End-Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Medical devices used in the treatment of heart disease or cardiovascular disorder are known as cardiovascular devices. Changing lifestyles, increasing alcohol intake in adults, passive smoking and other factors are increasing the risk of various diseases in the upcoming population. Heart failure has been the most common among the veteran population globally.

Previously, heart failure used to occur in the age group above age 45. Still, due to improper diet, alcohol consumption, and other factors, people less than age 35 also experience heart-related disorders and heart failure. The young population who are fitness-oriented or the bodybuilders participating in the competition are taking drugs like testosterone injection and levo-carnitine injection, which are used to reduce water levels in the body; these affect the kidneys and the heart. These result in an increase in the market growth of cardiovascular devices in the forecast period.

The increased occurrence of cardiac conditions such as cardiomyopathy and stroke is the primary cause of heart-related mortality. Cardiovascular disorders are the most prevalent type of disease worldwide. For example, according to research released in February 2022 by the Heart and Stroke Foundation of Canada, 750,000 patients have been diagnosed with heart failure, and the number is rising annually. Therefore, throughout the study period, the market growth is driven by the importance of cardiovascular devices for the effective diagnosis and treatment of heart-related ailments.

Additionally, a study published in the National Library of Medicine in June 2021 highlighted the significant impact of cardiovascular disease on global health. Coronary artery disease is responsible for approximately 610,000 deaths annually, accounting for an estimated one in four deaths and making it the foremost cause of mortality in the United States. Also the growing demand for cardiovascular devices to address this pressing medical need. Consequently, this factor is projected to drive the demand for cardiovascular devices throughout the forecast period.

The increasing prevalence of heart disorders, the growing aging population, lifestyle changes, and advancements in devices drive the market. Factors like improving healthcare infrastructure, rising awareness about cardiovascular diseases, and access to minimally invasive procedures contribute to market growth.

Cardiovascular Devices Market Report Highlights

• In 2023, the diagnostic and monitoring device segment held the largest revenue share due to a combination of factors, including the need for early detection, technological advancements, the aging population, preventive healthcare practices, telehealth trends, patient awareness, AI integration, and adherence to clinical guidelines.
• The hospital segment accounted for the highest market share during the forecast period due to state-of-the-art facilities and specialized medical personnel, making them the preferred choice for critical cardiac surgeries and procedures such as percutaneous coronary intervention (PCI). Hospitals often have established referral networks and receive more patients, further boosting their market share.
• In 2023, North America dominated the largest market due to the high prevalence of cardiovascular diseases, which drives the demand for cardiovascular devices. Additionally, the region has a well-established healthcare infrastructure and advanced medical technologies, allowing for the widespread adoption and utilization of devices.
• The Asia-Pacific region accounted for the fastest growth in cardiovascular disease. It focuses on addressing the market's needs that have contributed to increased market share. The availability of high-quality and affordable medical devices used in cardiovascular disorders has been a key driver of growth in the region.
• The global key market players include Abbott Laboratories, B. Braun Melsungen AG, Biosensors International Group (acquired by Blue Sail Medical Co., Ltd), Boston Scientific Corporation, Cook Medicals, Lepu Medicals, Liaoning Biomedical Materials, Medtronic Plc, Meril Life Sciences, MicroPort Scientific Corporation and others.

Polaris Market Research has segmented the cardiovascular devices market report based on device type, application end-use, and region:

Cardiovascular Devices, Device Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Diagnostic and Monitoring devices

- Electrocardiogram (ECG)

- Remote cardiac monitoring

- MRI

- others

• Therapeutic and surgical devices

- Ventricular Assist Devices

- Cardiac Rhythm Management Devices

- Catheter

- Stents

- Others

Cardiovascular Devices, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Heart Failure
• Cardiac Arrhythmia
• Coronary Artery Disease
• Others

Cardiovascular Devices, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Hospitals
• Surgical Centers
• Cardiology Centers
• Specialty Clinics

Cardiovascular Devices, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

- U.S.

- Canada

• Europe

- Germany

- UK

- France

- Italy

- Spain

- Russia

- Netherlands

- Rest of Europe

• Asia Pacific

- China

- India

- Japan

- South Korea

- Indonesia

- Malaysia

- Australia

- Rest of Asia Pacific

• Latin America

- Argentina

- Brazil

- Mexico

- Rest of Latin America

• Middle East & Africa

- UAE

- Saudi Arabia

- Israel

- South Africa

- Rest of MEA