Cardiovascular Devices Market Size, Share, Growth Analysis, By Device(Diagnostic, Monitoring Devices, Therapeutic, surgical devices), By Application(Coronary Artery Disease, Cardiac Arrhythmia, Heart Failure), By End user(Hospitals, Specialty Clinics, Others), By Region - Industry Forecast 2024-2031

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.