According to the latest report by IMARC Group, “Global Cardiovascular Devices Market Growth, Share, Size, Industry Trends, Opportunity and Forecast 2022-2027“, 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.
Cardiovascular devices refer to the various medical instruments that are utilized for diagnosing and treating heart diseases and related health ailments. They are designed to help in disease monitoring and surgical interventions. Some of the commonly used cardiovascular devices include grafts, stents, heart valves, catheters, electrocardiograms (ECG), remote cardiac monitors, cardiac assist instruments, etc. Cardiovascular devices find widespread applications across the healthcare industry as they assist in managing life-threatening conditions, minimizing patient discomfort, enhancing the quality of life, etc.
Cardiovascular Devices Market Trends and Drivers:
The escalating incidences of cardiovascular diseases (CVDs), owing to the sedentary consumer lifestyles and unhealthy dietary patterns and habits, including smoking and alcohol consumption, are primarily driving the cardiovascular devices market. Besides this, the expanding geriatric population, who are more susceptible to chronic heart ailments, is further catalyzing the market growth.
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Additionally, the inflating adoption of home healthcare devices and the elevating need for compact cardiovascular device variants that cater to patient mobility while providing real-time data are also augmenting the global market. Apart from this, the shifting preferences toward minimally invasive (MI) procedures are acting as significant growth-inducing factors.
Furthermore, the launch of wireless ECG and the increasing need for continuous and home-based monitoring systems are anticipated to fuel the cardiovascular devices market in the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Cardiovascular Devices Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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).
The report has segmented the market on the basis of region, device type, application and end user.
Breakup by Device Type:
- Diagnostic and Monitoring Devices
- Electrocardiogram (ECG)
- Remote Cardiac Monitoring
- Therapeutic and Surgical Devices
- Cardiac Rhythm Management (CRM) Devices
- Heart Valves
Breakup by Application:
- Coronary Artery Disease (CAD)
- Cardiac Arrhythmia
- Heart Failure
Breakup by End User:
- Specialty Clinics
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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