The global cardiovascular devices market size is prognosticated to reach USD 86.27 billion by 2028 from USD 54.08 billion in 2021, exhibiting a CAGR of 6.9% during the forecast period. There are increasing cases of heart diseases such as coronary artery disease, heart failure, congenital heart disease, heart attack, cardiomyopathy, and others. It can have a tremendous impact on the market. Moreover, the increasing geriatric population and their vulnerability to various chronic diseases, especially heart diseases, are major factors propelling the growth of the market. This information is published in a recent report by Fortune Business insights™ titled, “Cardiovascular Devices Market, 2021-2028.” According to the report, the market size was USD 50.87 billion in 2020.
Key Industry Developments Include:
June 2021: Cardiovascular Systems, Inc. introduced OrbusNeich JADE percutaneous transluminal angioplasty (PTA) over-the-wire balloon catheters.
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Driving Factor:
Rising Prevalence of Cardiovascular Diseases to Boost Market
The most important factor driving the market is the increasing prevalence of heart diseases. This, coupled with the advent of advanced technological diagnostics to diagnose heart diseases, is creating lucrative growth opportunities. Besides this, regional governments’ increasing awareness and initiatives are expected to propel the cardiovascular devices market growth. Additionally, major investments are made to cater to the rising demand for cardiovascular surgical devices, which will help the market to gain momentum in the forecast period.
Market Segments:
Based on device type, the market is segmented into diagnostic and monitoring devices and therapeutic and surgical devices. The diagnostic and monitoring devices segment can be further sub-segmented into electrocardiogram (ECG), remote cardiac monitoring, and others. The therapeutic and surgical devices segment can be further sub-segmented into ventricular assist devices (VAD), cardiac rhythm management (CRM) devices, catheters, stents, heart valves, and others. By application, the global market for these devices is categorized into coronary artery disease (CAD), cardiac arrhythmia, heart failure, and others. Based on end-user, the global market is classified into hospitals, specialty clinics, and others. Geographically, the global market is widespread into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa.
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Regional Analysis
Presence of Major Vendors Strengthening North America Market Share
Geographically, the global c market is widespread into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, North America is holding the major cardiovascular devices market share, followed by Europe. This is on account of the presence of major manufacturers in Canada and the U.S. On the other side, the market in Asia Pacific is likely to earn significant cardiovascular device market revenue on account of the rise in prevalence of cardiovascular diseases and the regulatory scenario of the market. To cite an example, the government of India confirmed a reduction in stent prices as compared to the international market such as the U.S. Such steps taken by the regional government will help Asia Pacific market witness steady growth in the forthcoming years.
List of Significant Companies in the market:
- Braun Melsungen AG (Melsungen, Germany)
- Medtronic (Dublin, Ireland)
- Abbott (Abbott Park, U.S.)
- Boston Scientific Corporation (Marlborough, U.S.)
- Edwards Lifesciences Corporation (Irvine, U.S.)
- Johnson & Johnson Services, Inc. (New Brunswick, U.S.)
- GENERAL ELECTRIC COMPANY (GE Healthcare) (Chicago, U.S.)
- LivaNova PLC (London, U.K.)
- Siemens Healthcare GmbH (Erlangen, Germany)
- Terumo Cardiovascular Systems Corporation (Tokyo, Japan)
- Other Prominent Players
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Cardiovascular devices market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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Table of Content
- Key Insights
- Prevalence of Key Cardiovascular Diseases, By Key Countries, 2020
- Technological Advancements in Cardiovascular Devices
- New Product Launches
- Analysis of Key Cardiovascular Devices Deals
- Key Industry Developments
- Pipeline Analysis
- Reimbursement Scenario by Key Countries
- Analysis of Patient’s Digital Health Adoption
- Impact of COVID-19 on the Market
- Global Cardiovascular Devices Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Device Type
- Diagnostic and Monitoring Devices
- Electrocardiogram (ECG)
- Remote Cardiac Monitoring
- Others
- Therapeutic and Surgical Devices
- Ventricular Assist Devices (VAD)
- Cardiac Rhythm Management (CRM) Devices
- Catheter
- Stents
- Heart Valves
- Others
- Diagnostic and Monitoring Devices
- Market Analysis, Insights and Forecast – By Application
- Coronary Artery Disease (CAD)
- Cardiac Arrhythmia
- Heart Failure
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Cardiovascular Devices Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis – By Device Type
- Diagnostic and Monitoring Devices
- Electrocardiogram (ECG)
- Remote Cardiac Monitoring
- Others
- Therapeutic and Surgical Devices
- Ventricular Assist Devices (VAD)
- Cardiac Rhythm Management (CRM) Devices
- Catheter
- Stents
- Heart Valves
- Others
- Diagnostic and Monitoring Devices
- Market Analysis – By Application
- Coronary Artery Disease (CAD)
- Cardiac Arrhythmia
- Heart Failure
- Others
- Market Analysis – By End User
- Hospitals
- Specialty Clinics
- Others
TOC Continued…..
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