How big is the cardiovascular devices market today, and what are its future growth expectations?
The cardiovascular devices market size has grown strongly in recent years. It will grow from $73.14 billion in 2024 to $79.78 billion in 2025 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to lifestyle-related diseases, aging population, minimally invasive procedures and implantable devices, healthcare access, regulatory approvals.
The cardiovascular devices market size is expected to see strong growth in the next few years. It will grow to $102 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to personalized medicine, remote monitoring, emerging markets growth, artificial intelligence (AI) integration, value-based healthcare. Major trends in the forecast period include wearable cardiovascular devices, minimally invasive interventions, bioresorbable devices, remote consultations and telesurgery, sustainable and eco-friendly devices.
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What have been the primary factors driving the cardiovascular devices market’s growth?
An increase in the prevalence of cardiovascular disorders contributes to the growth of the cardiovascular device market. Cardiovascular disorders refer to a group of medical conditions that affect the heart and blood vessels, encompassing various diseases and disorders that involve the circulatory system. A cardiovascular device is a device used to support heart function and blood flow in people with weak or failing hearts. For instance, in June 2023, according to the Immigration and Checkpoints Authority, a Singapore-based government agency, there were 6,884 deaths attributed to heart and hypertensive diseases in 2022, an increase of 10.35% compared to 6,238 deaths recorded in 2021. Therefore, the increase in the prevalence of cardiovascular disorders is expected to drive the growth of the cardiovascular device market.
What are the key segments within the cardiovascular devices market?
The cardiovascular devices market covered in this report is segmented –
1) By Type: Cardiovascular Surgery Devices And Equipment, Cardiac Rhythm Management (CRM) Devices And Equipment, Interventional Cardiology Devices And Equipment, Defibrillator Devices And Equipment, Peripheral Vascular Devices And Equipment, Prosthetic Heart Valve Devices And Equipment, Electrophysiology Devices And Equipment, Cardiac Assist Devices And Equipment
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments Or Equipment, Disposables
Subsegments:
1) By Cardiovascular Surgery Devices And Equipment: Coronary Artery Bypass Graft (CABG) Equipment, Heart Valve Repair And Replacement Devices, Aortic Aneurysm Repair Devices, Cardiopulmonary Bypass Equipment, Other Cardiovascular Surgery Devices
2) By Cardiac Rhythm Management (CRM) Devices And Equipment: Pacemakers, Defibrillators, Cardiac Resynchronization Therapy (CRT) Devices
3) By Interventional Cardiology Devices And Equipment: Stents (Drug-Eluting, Bare-Metal), Catheters (Balloon, Diagnostic, Guiding), Angioplasty Equipment, Guidewires, Other Interventional Cardiology Devices
4) By Defibrillator Devices And Equipment: Implantable Cardioverter Defibrillators (ICDs), Automated External Defibrillators (AEDs), Wearable Defibrillators, External Defibrillators
5) By Peripheral Vascular Devices And Equipment: Peripheral Stents, Balloons (Peripheral Angioplasty), Embolic Protection Devices, Endovenous Laser Devices, Other Peripheral Vascular Devices
6) By Prosthetic Heart Valve Devices And Equipment: Mechanical Heart Valves, Biological Heart Valves, Transcatheter Heart Valves (TAVR), Other Prosthetic Heart Valve Devices
7) By Electrophysiology Devices And Equipment: Ablation Catheters, Electrophysiology Mapping Systems, ECG And EKG Systems, Cardiac Mapping And Navigation Systems, Other Electrophysiology Devices
8) By Cardiac Assist Devices And Equipment: Ventricular Assist Devices (LVADs), Intra-Aortic Balloon Pumps, Total Artificial Heart, Extracorporeal Membrane Oxygenation (ECMO), Other Cardiac Assist Devices
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Which key players are shaping the cardiovascular devices market?
Major companies operating in the cardiovascular devices market include Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Edwards Lifesciences Corporation, Johnson & Johnson, Terumo Corporation, Getinge AB, Teleflex Incorporated, Becton, Dickinson and Company, Siemens Healthineers AG, Fresenius SE & Co. KGaA, GE HealthCare Technologie Inc., Stryker Corporation, B. Braun Medical Pvt. Ltd., Baxter International Inc., Danaher Corporation, Fujifilm Holdings Corporation, Canon Medical Systems Corporation, MicroPort Scientific America Inc., W L Gore & Associates Inc., AngioDynamics Inc., CryoLife Inc., Endologix LLC, Lombard Medical Limited, Avinger Inc., Abiomed Inc., Biosensors International Group Ltd., Biotronik SE and Co. KG, CeloNovaBioSciences Inc., LeMaitre Vascular Inc., Nano Therapeutics Pvt. Ltd.
How will emerging trends drive the cardiovascular devices market throughout the forecast period?
Major companies operating in the cardiovascular devices market are launching new products, such as the balloon ablation catheter, to increase their profitability in the market. The balloon ablation catheter is the initial radiofrequency balloon ablation catheter designed for catheter-based cardiac electrophysiological mapping, involving both stimulation and recording of the atria. For instance, in October 2022, Biosense Webster, a US-based company operating in the science of diagnosing and treating heart rhythm disorders, launched the HELIOSTAR Balloon Ablation Catheter. The HELIOSTAR Balloon Ablation Catheter features exclusive one-shot balloon technology that allows for pulmonary vein isolation in just 12 seconds, complete with tailored energy delivery and an integrated 3D mapping solution.
How do regional factors impact the cardiovascular devices market, and which region is the largest contributor?
North America was the largest region in the global cardiovascular devices market in 2023. Western Europe was the second largest region in the global cardiovascular devices market. Africa. was the smallest region in the global cardiovascular devices market. The regions covered in the cardiovascular devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Cardiovascular Devices Market Report 2025 Offer?
The cardiovascular devices market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Cardiovascular devices are used to monitor and control irregular heartbeats and heart rhythm disorders.
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