Global Cardiovascular Devices Market Size By Device Type, (Diagnostics and Monitoring Devices, Surgical Devices), By End Use (Hospitals, Ambulatory Surgery Centers), By Geographic Scope And Forecast

Cardiovascular Devices Market Size And Forecast

Cardiovascular Devices Market size was valued at USD 63.49 Billion in 2024 and is projected to reach USD 104.08 Billion by 2031, growing at a CAGR of 7.03% during the forecast period 2024-2031.

The global Cardiovascular Devices Market is growing at a rapid pace over the past few years. The growing prevalence of cardiovascular diseases across the globe is one of the significant factors boosting the growth of the Cardiovascular Devices Market. Furthermore, growth in the aging population particularly in developed countries further propels the growth of the market. Apart from this, the rising uptake of innovative treatment technologies to treat cardiovascular disorders also provides a boost for the growth of the Cardiovascular Devices Market.

Global Cardiovascular Devices Market Definition

Cardiovascular devices are the type of devices that are used to diagnose and treat heart disease and related health problems. Cardiac implantable electronic devices, including implantable cardioverter defibrillators (ICD), pacemakers, cardiac loop recorders, and biventricular pacemakers, are some of the cardiovascular devices designed to help control and monitor irregular heartbeats in people with certain heart rhythm disorders and heart failure.

Cardiac and vascular surgery devices such as heart valves, balloons, catheters, and stents also play a key role in managing and treating cardiovascular diseases. People with heart failure, advanced heart disease, and certain genetic arrhythmias are often at risk of life-threatening, irregular, and fast heartbeats which are called ventricular arrhythmias. These people with ventricular arrhythmias may need an implantable cardioverter defibrillator, which delivers an electric shock to restore a normal heart rhythm.

The implantable cardioverter defibrillator is for people who are suffering from ventricular arrhythmias and does not respond to other treatments such as medical therapy and catheter ablation.The U.S. Food and Drug Organization regulates a variety of cardiovascular devices that affect and monitors electrical activity including pacemakers, ablation catheters, cardiac mapping systems, and defibrillators. In addition to this, the FDA tests and evaluates the safety of materials used in cardiovascular devices to avoid potential neural and cardiac toxicity.

Global Cardiovascular Devices Market Overview

The increased prevalence of cardiovascular disease across the globe is one of the primary factors driving the growth of the market. The number of deaths that occurred from cardiovascular diseases is steadily rising over the past few decades. For instance, according to the World Health Organization (WHO), around 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Of these total deaths, 85% were due to stroke and heart attack. A rising aging population and changing lifestyles are some of the main reasons behind the prevalence of CVD.

Heart problems are on the rise, and with them, so is the cost of dealing with them. Think about itthe American Heart Association says that Americans have around 1.5 million strokes and heart attacks every year! That adds up to over USD 320 billion annually when you factor in healthcare and lost work time. And it's not getting better – they predict that by 2030, that number could balloon to USD 818 billion, with lost productivity costing another USD 275 billion. So, as more people struggle with heart issues around the world, there's a bigger need for cardiovascular devices to help treat them. However, these devices can be pretty expensive, and that high cost might actually slow down market growth in the coming years.

The market's not all sunshine and roses, though. Sticking to those tough government regulations for making and launching these devices can be a real headache for the big companies. On the flip side, more people are waking up to cool, new technologies for treating heart problems, and that's opening up some sweet opportunities for the vendors out there. Think about itcutting-edge treatments like 3D printing and transcatheter aortic valve replacement (TAVR) are making the market bigger for medical device makers. And get this – 3D-printed heart valves? They're often made with living tissue, which means maybe no more need for those old prosthetic valves when dealing with aortic valve disease!

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Cardiovascular Devices Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in global Cardiovascular Devices Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Cardiovascular Devices MarketSegmentation Analysis

The Global Cardiovascular Devices Market is Segmented on the basis of  Type, Product, By End Use And Geography.

Cardiovascular Devices Market, By Device Type

• Diagnostics and Monitoring Devices
• Surgical Devices

Okay, so when we look at the Cardiovascular Devices Market, we see that it's basically split into two groupsdiagnostics and monitoring devices and surgical devices. Right now, the diagnostics and monitoring side of things is bigger. We're talking about stuff like ECG machines, event monitors, Holter monitors, and cardiac CT scans. And, get this, ECG devices are really popular! Looking ahead, though, surgical devices are expected to grow quite a bit. That's where you find things like stents, pacemakers, catheters, valves, and all those other accessories. Stents, in particular, are becoming more and more in demand worldwide. They're used to help blood flow smoothly again when vessels get blocked, and they're increasingly used to treat heart and blood vessel problems, especially in older and middle-aged folks.

 Cardiovascular Devices Market, By End Use

• Hospitals
• Ambulatory Surgery Centers
• Cardiac Centers
• Others

Based on End Use, the market is segmented into hospitals, ambulatory surgery centers, cardiac centers, and others. The hospital segment accounted for the major market share in the global Cardiovascular Devices Market. Rising hospital admissions related to cardiovascular diseases across the globe are one of the key factors driving the growth of the market. The increasing hospitalization is reflecting an actual increase in heart-related disorders, which led to driving the demand for cardiovascular devices.

Cardiovascular Devices Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Okay, so when we look at where Cardiovascular Devices are being used around the world, it breaks down geographically into North America, Europe, Asia Pacific, and everywhere else. Now, North America was the big player back in 2020. Think top-notch healthcare, cutting-edge treatments, and people really knowing their stuff about heart health. Plus, you've got a bunch of device makers hanging out in places like the U.S. and Canada, which helps a lot. Europe also had a pretty good chunk of the market in 2021. What's driving that? Well, the population is getting older, and unfortunately, that means more heart problems. Eurostat data says over 21% of the EU population was 65+ in 2022! But get this, Asia Pacific is expected to grow the fastest! More and more people in countries like India and China are becoming aware of what's out there in terms of medical treatments, and that's really boosting things.

Key Players

The “Global Cardiovascular Devices Market” study report will provide valuable insight with an emphasis on the global market including some of the major players Becton, Dickinson and Company, Medtronic, Boston Scientific Corporation, B. Braun Melsungen AG, Cook Medical, Inc., Abbott Laboratories, Inc., St. Jude Medical, Inc., Terumo Cardiovascular Systems Corporation among others.

Our market analysis offers detailed information on major players wherein our analysts provide insight into the financial statements of all the major players, product portfolio, product benchmarking, and SWOT analysis. The competitive landscape section also includes market share analysis, key development strategies, recent developments, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In February 2023, Abbott announced the acquisition of Cardiovascular Systems, a Minnesota-based maker of atherectomy devices. The acquisition will add complementary technologies to Abbott’s leading vascular device offerings.
• In July 2021, Medtronic plc announced that Two AccuRhythm AI algorithms have been approved by the U.S. Food and Drug Administration (FDA) for use with the LINQ II insertable cardiac monitor.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Report Scope

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segmen