Cardiovascular Devices Market Size, Share, Business Prospects and Industry Updates with Forecast 2030

The global cardiovascular devices market size was US$ 47.1 billion in 2021. The global cardiovascular devices market is forecast to grow to US$ 72.28 billion by 2030 by growing at a compound annual growth rate (CAGR) of 7.40% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The growing prevalence of heart-related diseases will primarily drive the global cardiovascular devices market forward,

Among Americans, around one individual dies every 40 seconds due to cardiovascular disease. A study by the American College of Cardiology states that cardiovascular disease (CVD) resulted in 8,00,000 deaths in the US in the year 2017.

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The rising rate of sedentary lifestyle adoption, majorly due to work from home culture and unhealthy routine habits, will contribute to the growth of the global cardiovascular devices market. Furthermore, growing cases of hypertension, smoking, and rising consumption of alcohol will escalate the growth of the global cardiovascular devices market during the study period.

The growing geriatric population and technology advancements will benefit the global cardiovascular devices market. In addition, rising healthcare expenditure and trending home healthcare will benefit the global cardiovascular devices market.

The growing popularity of wireless ECG to diagnose and monitor the patient remotely on time will surge the growth of the global cardiovascular devices market during the forecast period.

The rising number of FDA approvals and partnerships will offer ample growth opportunities for the global cardiovascular devices market. For instance, Cook Medical received approval from U.S. Food and Drug Administration (FDA) in February 2019 for Zenith endovascular aortic dissection system. In addition, Sahajanand Medical Technologies inked a partnership with Cardinal Health in March 2018 with the aim to present Cardinal Health access to the Indian cardiology market. Such events are likely to benefit the global cardiovascular devices market in the coming years.

COVID-19 Impact Analysis

The COVID-19 pandemic had a negative impact on the global cardiovascular devices industry. Various patients suffered from critical heart diseases, which increased the demand for effective treatment. However, the manufacturing disruptions during the first phase of the pandemic altered the growth landscape of the global cardiovascular devices market. Moreover, regular check-ups and diagnoses were either postponed or cancelled for a long time. As a result, it impacted the growth of the global cardiovascular devices market.

Regional Analysis

North America is forecast to hold the largest share in the global cardiovascular device market. It is owing to the rising awareness related to the commercially available products, growing penetration of advanced surgical products, increasing rate of geriatric population, and unhealthy lifestyle of the population. Further, the trending home healthcare is forecast to offer ample growth opportunities for the regional market.

The Asia-Pacific cardiovascular devices market is forecast to register strong growth due to growing healthcare expenditure, favorable initiatives by government bodies, and the rising prevalence of cardiac disease. In addition, the high investments by healthcare bodies for the latest equipment and rising R&D activities will further fuel the growth of the market.

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Competitors in the Market

• Abbott Laboratories
• Medtronic PLC
• Boston Scientific Corporation
• Cardinal Health Inc.
• Edward Lifesciences
• Biosense Webster, Inc.
• Cook Medical
• Sahajanand Medical Technologies
• Siemen AG,
• General Electronic Company
• B. Braun Melsungen AG
• Koninklijke Philips N.V.
• St. Jude Medical, Inc.

Market Segmentation

The global cardiovascular devices market segmentation focuses on Device, End-User, and Region.

Based on Device Type

• Electrocardiography (ECG)
• Cardiac Catheter
• Heart Valve, Pacemaker
• Defibrillator
• Event Monitor
• Guidewire
• Others

Based on End-User

• Cardiac Centers
• Ambulatory
• Surgery Centers
• Hospitals

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Based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America

What is the goal of the report?

-The market report presents the estimated size of the Healthcare market at the end of the forecast -period.

-The report also examines historical and current market sizes.

-During the forecast period, the report analyzes the growth rate, market size, and market valuation.

-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.

-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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