The global cardiovascular devices market reached a value of US$ 51.34 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 77.92 Billion by 2027 exhibiting a CAGR of 6.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
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, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on device type, application and end user.
Breakup by Device Type:
Diagnostic and Monitoring Devices
Remote Cardiac Monitoring
Therapeutic and Surgical Devices
Cardiac Rhythm Management (CRM) Devices
Breakup by Application:
Coronary Artery Disease (CAD)
Breakup by End User:
Breakup by Region:
Middle East and Africa
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:
How has the global cardiovascular devices market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global cardiovascular devices market?
What are the key regional markets?
What is the breakup of the market based on the device type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global cardiovascular devices market and who are the key players?
What is the degree of competition in the industry?