Cardiovascular Devices Market is slated to grow exponentially through 2032, owing to the rising number of patients suffering from cardiovascular diseases such as arrhythmia, heart failure, coronary heart disease, and peripheral artery diseases. Besides, cardiovascular disease is one of the leading causes of deaths worldwide. Almost half of the American adults suffer from some form of cardiovascular disease. These factors are slated to significantly influence the cardiovascular devices market growth in the coming years.

The longer wait times for regulatory approvals of products are slated to hinder the market expansion. However, the rising geriatric population pool will play a key role in driving the market growth over the forecast period.

The cardiovascular industry’s competitive landscape is highly intact. Large behemoths are rigorously working on strategic efforts such as R&D investments, new product launches, and mergers, acquisitions, and partnerships to increase their market share. For instance, in November 2021, the FDA approved Abbott Medical’s sensor enabled TactiCath Ablation Catheter. TactiCath Contact Force Ablation Catheter is used to treat intermittent atrial fibrillation or paroxysmal and persistent atrial fibrillation when the conditions are not treated with medicines.

Overall, the cardiovascular devices market is segmented in terms of device type, end-use, and region.

Considering the device type, the cardiac ablation devices segment is slated to hold a considerable share through 2032. The expansion is likely to be propelled by the rising demand for minimally invasive ablation procedures and the increasing prevalence of cardiac arrhythmia globally. As per reports, atrial fibrillation is one of the most common cardiac arrhythmias, impacting more than 2 million people in the U.S.

Nevertheless, some selected patients with AF can now be treated with surgical ablation and left atrial appendage (LAA) removal with significantly smaller sternal sparing incisions using minimally invasive cardiac surgery procedures, which is further slated to help segment growth in the coming years.

Based on end-use, the hospital segment held the largest revenue share of over 58% in 2022 and is anticipated to demonstrate massive growth between 2023 and 2032. The growth can be credited to the increased number of cardiovascular procedures in hospitals due to the mounting availability of advanced devices and well-equipped facilities.

Regionally, the North America cardiovascular devices market held over 42% revenue share in 2022 and is slated to grow significantly over the forthcoming years, owing to the mounting investments in cardiac product R&D. In addition, the rising adoption of unhealthy lifestyles and increasing geriatric patient pool will further drive regional growth during the forecast period. Also, the presence of leading market players in the region will serve to be a key factor driving the regional market expansion.