USD 44.9 billion
Cardiovascular Devices Market Size, Share, Growth Analysis, By Product (Diagnostic & Monitoring Devices, Surgical Devices), By Application (Coronary Artery Disease, Cardiac Arrhythmia), By End User (Hospitals, Specialty Clinics), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35E2016 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
91
|Figures:
76
Cardiovascular Devices Market Insights
Cardiovascular Devices Market size was valued at USD 18.8 Billion in 2023 and is poised to grow from USD 19.83 Billion in 2024 to USD 32.81 Billion by 2032, growing at a CAGR of 5.5% during the forecast period (2025-2032).
The growth of the global market is driven by the high prevalence of chronic cardiovascular diseases. For example, according to a Harvard study, T.H. Chan School of Public Health (HSPH), located in the Indian state of Maharashtra, has seen a 43.0% increase in the number of cardiac arrests due to the fall in coronary stent prices. Moreover, the sharp decline in the prices of essential cardiac drugs such as coronary artery bypass therapy is fueling the expansion of this market, especially in emerging markets like India.
The major factors driving the cardiovascular devices industry are rapid technological advancement, increasing global burden of various cardiovascular diseases, preference for less invasive treatments and cardiovascular diseases such as myocardial infarction and stroke a leading to increased heart-related mortality. Diseases that are prevalent worldwide are related to cardiovascular disease. For example, according to a report released by the Heart and Stroke Foundation of Canada in February 2022, 750,000 patients are diagnosed with heart disease, and this is increasing every year, so pacemakers play a vital role to detect diseases from the heart in properly and healed.
In addition, the technology used in the manufacture of cardiac devices has improved dramatically over the past decade, expanding the indications of these devices. This has led to increased management of patients with cardiac devices, leading to pharmacological consequences that have produced significant research results.
US Cardiovascular Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Coronary Artery Disease
Fastest Growth
Coronary Artery Disease
Growth Rate
8.5% CAGR
Global Cardiovascular Devices Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Cardiovascular Devices Market Segmental Analysis
Global Cardiovascular Devices Market is segmented by product, application, end user and region. Based on product, the market is segmented into Diagnostic & Monitoring Devices (ECG, Implantable Cardiac Monitors, Holter Monitors, Mobile Cardiac Telemetry, MRI, Cardiovascular Ultrasound (2D, 3D/4D, Doppler), Cardiac Diagnostic Catheters, PET Scanner), Surgical Devices (Cardiac Resynchronization Therapy (CRT) (CRT-Defibrillator, CRT-Pacemaker), Implantable Cardioverter Defibrillators (ICDs) (Single Chamber ICDs, Dual Chamber ICDs), Pacemakers (Conventional Pacemakers, Leadless Pacemakers), Coronary Stents, Catheters, Guidewires, Cannula, Valves, Occlusion Devices). Based on application, the market is segmented into Coronary Artery Disease (CAD), Cardiac Arrhythmia, Heart Failure and Others. Based on end user, the market is segmented into Hospitals, Specialty Clinics and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Cardiovascular Devices Market Analysis by Device
Diagnostic and monitoring devices segments are dominating the market. The diagnostic and monitoring devices segment play an important role in the cardiovascular devices market, as it enables early detection, continuous monitoring and timely intervention of cardiac conditions. This segment includes electrocardiograms (ECGs), Holter monitors, event monitors. There is wearable heart devices related to cardiovascular health that provide real-time statistics. Increasing incidence of lifestyle-related diseases, aging population, and increasing focus on preventive healthcare have led to increased demand for diagnostic and monitoring devices. These devices allow healthcare professionals to monitor patients’ heart rhythms and detect abnormalities such as arrhythmias, high blood pressure and ischemic heart disease, often before they cause more serious complications.
The therapeutic devices segment is the fastest growing in the market which is important for the treatment and management of cardiac conditions such as coronary artery disease, heart failure and arrhythmias. This category includes devices such as stents, pacemakers, defibrillators, ventricular assist devices, which need to be returned to activate the heart and prevent fatal events. There are important reasons, especially the demand for medical solutions is strong in cardiovascular settings the high morbidity and mortality rate. Technological advances have stimulated innovation in medical devices, especially in the development of low-cost devices and processes. For example, drug-eluting stents are increasingly used for coronary artery disease, while implantable defibrillators and pacemakers help control heart rhythm abnormalities.
Cardiovascular Devices Market Analysis by Application
The coronary artery disease segment is dominating in the cardiovascular devices market. CAD is a major risk factor for heart disease and other serious cardiovascular events due to plaque accumulation in coronary arteries. Devices in this category such as stents, angioplasty balloons, and drug-releasing stents play an important role in restoring blood flow to the heart and preventing complications associated with vascular obstruction. Global CAD numbers are increasing due to lifestyle factors such as poor diet, smoking and sedentary behaviors. The demand for interventional devices to manage blockages has increased dramatically, especially in areas with large elderly populations. Recent advances in CAD devices, especially stents with new soluble synthetics, have further accelerated this market segment.
As per cardiovascular devices market analysis, the cardiac arrhythmia segment is another important segment in the cardiovascular devices market. This segment focusing on the treatment and management of cardiac arrhythmias, such as atrial fibrillation (AFib) and weak ventricular arrhythmias, atrial fibrillation (AFib) and weak ventricular arrhythmias are not only fatal but also severe complications if left untreated stroke and heart failure. Major devices in this category include pacemakers, implantable overter-defibrillators (ICDs), and cardiac resynchronization devices (CRT), all of which contribute to the heart improve or restore function, reduce the risk of cardiac events and improve patient quality of life. The increasing prevalence of these conditions, especially in the elderly population, is driving down the demand for devices related to simple exercise.
Global Cardiovascular Devices Market By Application , 2021(%)
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Cardiovascular Devices Market Regional Insights
As per cardiovascular devices market outlook, North America dominated the market and accounted for the largest revenue share at 47.7% in 2024, driven by rising atrial fibrillation (AFib) & cardiovascular disease (CVD), supportive government policies and the technological advancements. This atrial fibrillation (AF) is very common, which is considered a risk factor for it has a lifetime incidence of approximately 1 in 3 to 5 people over the age of 45. AFib leads to significant hospitalization and death establish the urgent need for advanced cardiovascular emphasis devices each year. The market has grown with the increase in the prevalence of AFIB among older people in Canada. Important government initiatives supporting health promotion such as national research networks and provincial investments.
The Asia-Pacific region in the cardiovascular devices market is expected to grow rapidly, with a projected CAGR of 8.9% between 2024 to 2031. The increasing geriatric population in Asia Pacific contributes to the growth of the market. In 2024, The Asian Development Bank (ADB) projected that by 2050 there will be 1.2 billion People aged 60 and over and they live in developing Asia-Pacific, representing about a quarter of the total population. The cardiovascular devices market is expected to grow during the forecast period. The increasing demand for advanced medical devices in China is fueling the demand for cardiovascular devices. In April 2024, Arineta, revealed its collaboration with Shandong Yituo Medical Technology Development Company Limited (SYMT) and Arineta (Shandong) Medical Device Company; Ltd. called the combined business, which will soon set up its first SpotLight Duo.
Global Cardiovascular Devices Market By Geography, 2021 - 2028
- Largest
- Fastest
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Cardiovascular Devices Market Dynamics
Cardiovascular Devices Market Driver
Rising Cardiovascular Disease Incidence
- Worldwide, cardiovascular diseases (CVDs) are the leading cause of death, driving the demand for advanced medical devices. Sedentary lifestyles, poor dietary intake, and an aging population increase the risk of cardiovascular conditions such as congestive heart failure, heart failure and hypertension. Consequently, life-saving devices such as pacemakers, defibrillators and stents are increasingly needed in developed and developing areas as health systems prioritize preventive care with early detection of disease. Hospitals and clinics following the pace of using cutting-edge technology to improve patient outcomes, government programs and nonprofits are launching programs to raise awareness of high-risk populations have been monitored.
Technological Progress and Innovation
- Innovation is a key growth driver in the cardiovascular devices market. Advances in medical technology such as remote cardiac monitoring, less invasive procedures, and artificial intelligence are changing the landscape of devices. Wearable ECG monitors allow patients and health care providers to continuously monitor cardiac status to prompt management to manage heart failure, at the onset of complications. Less invasive treatment that can detect and treat using catheter-based technology reduces patient recovery time and hospital costs.
Restraints
High Cost of Advanced Equipment
- The main barrier to the uptake of cardiac devices, especially in developing settings, is high cost. Advanced devices which include the implantable cardioverter defibrillators (ICDs) and the advanced imaging technologies carry big cost tags, which can be prohibitive for the healthcare companies and sufferers. Limited coverage insurance or reimbursement in a few regions exacerbates this difficulty, denying sufferers access to lifestyle-saving devices.
Complex Legal Challenges and Approvals
- The cardiovascular devices market is highly regulated, as devices must meet stringent safety and efficacy standards before they are approved for use in the community. In the United States regulatory companies which includes the FDA, and the European Medicines Agency (EMA) impose complicated evaluate and approval strategies. Additionally, due to the dynamic nature of regulatory tips, organizations ought to continuously upgrade their gadgets to conform with the guidelines, growing operational expenses and complexity.
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Cardiovascular Devices Market Competitive Landscape
The cardiovascular devices market is competitive, dominated by established medical technology companies and driven by continuous innovation, a collaborative approach and a focus on expanding global reach. These agencies have constructed a vast market percentage via complicated cardiovascular solutions, from implantable devices together with pacemakers and stents to advanced imaging systems. Key players use partnerships and acquisitions to gain competitive benefit and drive growth.
Top Players in the Global Cardiovascular Devices Market
- Abbott Laboratories
- Boston Scientific Corporation
- Medtronic, Inc.
- Johnson & Johnson
- Terumo Corporation
- Edwards Lifesciences Corporation
- Biotronik SE & Co. KG
- LivaNova PLC
- Getinge AB
- Baxter International Inc. (Hill-Rom Holdings, Inc.)
- Koninklijke Philips N.V.
- Siemens Healthineers AG
- GE Healthcare
- Toshiba Corporation
- Fujifilm Holdings Corporation
- Hitachi, Ltd.
- Nihon Kohden Corporation
- Collateral Medical Pvt. Ltd.
- Schiller AG
- B. Braun Melsungen AG
Cardiovascular Devices Market Recent Developments
- October 2022: Medtronic plc received United States FDA approval to expand cardiac lead labeling by stimulating the heart’s natural electrical current, allowing patients to receive the treatment.
- March 2024: Stryker introduced the LIFEPAK CR2 AED and evacuation chair for cardiac monitoring. The LIFEPAK CR2 helps rescuers quickly deliver CPR and shock in the event of sudden cardiac arrest, with the quick deployment of QUIK-STEP electrodes and a Shock Advisory System for ECG monitoring.
- October 2022: Biosense Webster, Inc., a division of Johnson & Johnson MedTech, launched the HELIOSTAR balloon ablation catheter in Europe. The HELIOSTAR balloon ablation catheter is indicated for use in catheter-based cardiac electrophysiological mapping (and stimulation and recording) of the atria, and when used with a compatible multichannel RF generator, for use in the heart.
Cardiovascular Devices Key Market Trends
- Expanding Home Health Solutions: Trends in home healthcare and self-management are changing the cardiovascular devices market. Wearable ECG devices, blood pressure monitors, and remote patient monitoring methods provide real-time data, allowing individuals to manage chronic heart failure without repeated hospital visits. This trend is not to make patients not only easier, reducing the healthcare costs but supporting the transition to preventative healthcare.
- Growing Role of Artificial Intelligence and Machine Learning: Artificial intelligence (AI) and machine learning (ML) are driving significant advances in cardiac care. AI-powered diagnostic tools analyze vast amounts of patient data to help diagnose early, accurate heart attacks. In addition, machine learning algorithms help predict outcomes, identify high-risk patients, and optimize treatment regimens. AI in cardiac imaging increases the accuracy of abnormal detection, while predictive systems in device management predict device malfunctions and notify healthcare providers.
Cardiovascular Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the cardiovascular devices market continues to grow due to increasing incidence of cardiovascular diseases and rapid technological advances. The cost and stringent regulatory requirements pose significant challenges for many adopters. Major trends such as the shift to home health solutions and the inclusion of artificial intelligence are changing how cardiovascular conditions are managed and treated. The cardiovascular devices market is a rapidly growing industry, primarily driven by the rising incidence of cardiovascular diseases (CVDs), advances in medical technology, and aging global population. There is a growing demand for the less invasive therapies such as defibrillators (ICDs), which are being made available to the patient using technological innovations in imaging, biomaterials, and data-driven health analytics greater growth results, driving market expansion.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 44.9 billion |
| Market size value in 2031 | USD 94.9 billion |
| Growth Rate | 8.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cardiovascular Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cardiovascular Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cardiovascular Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cardiovascular Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cardiovascular Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cardiovascular Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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