Cardiovascular Devices market is segmented by Device Type (Diagnostic and Monitoring Devices, and Therapeutic and Surgical Devices), Application (Coronary Artery Disease (CAD), Cardiac Arrhythmia, Heart Failure, and Others), End User (Hospitals, Specialty Clinics, and Others) and Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Cardiovascular Devices Market size was estimated at $7,980 Million in 2019 and is expected to reach $12,319.6 Million by 2027, growing at a CAGR of 6.4% during the forecast period of 2020 to 2027.
Cardiovascular devices are monitoring devices used for the diagnosis and treat different kinds of heart diseases and such health problems. It is used to monitoring the treatment elevate and prevent diseases. The global forecast for cardiovascular devices is expected to grow more directly over the years 2020 to 2025.
Cardiovascular Devices Market Growth Factors
The cardiovascular devices market that was valued at 42.6 1 billion USD in the year 2019, is now are expected to grow by a whopping 70 1.05 billion USD by the end of the year 2027. This growth is calculated at a CAGR of 6.6 % during the forecast period of the year 2020 through the year 2027. super North American countries have been the largest producers of cardiovascular devices with the Asia Pacific region the following suit. However, it can be estimated that in the coming years this region will have a significant growth due to the largest geriatric population and urban settlement. The cardiovascular diseases are caused due to an increasing rate of obesity and an unhealthy lifestyle. This has thereby generated a higher demand for the devices in the current years. The key players of the global cardiovascular devices market include Cardinal Health, and Becton, and contribute towards the largest generation of such devices, diagnostic and monitoring tools. All segments analysed the impact of lifestyle and health awareness has increased the demand for cardiovascular devices. The enhanced production will now contribute significantly to save patients at the right time from the ill effects of chronic diseases related to heart, thereby giving a bright future towards the upward rise of the market through the year 2025 and even beyond.
Cardiovascular Devices Market Segmentation
Cardiovascular Devices Market Country Analysis
With the growing burden of heart diseases globally, there is an increase in the demand for cardiovascular devices. These devices are categorized by type where they capture diagnostic (electrocardiogram and remote cardiac monitoring) and surgical & therapeutic segments (cardiac assist devices, catheter, grafts, heart valves, and cardiac rhythm management). They are also segmented according to regions which include Europe, North America, Asia Pacific, and the Middle East & Africa, and South America. The global market for cardiovascular devices is expected to grow to USD 121 billion by 2024. The major players in this market include Cardinal Health Inc., Abbott Laboratories, Terumo Cardiovascular Systems Corporation, Boston Scientific Corporation, and Cook Medical Inc.
Cardiovascular Devices Market Share and Competition
Key companies operating in this industry are: Terumo Cardiovascular Systems Corporation, Siemens Healthcare GmbH, B. Braun Melsungen AG, Johnson & Johnson Services, Inc., Abbott, Medtronic, Cordis (Cardinal Health), LivaNova PLC, GENERAL ELECTRIC COMPANY (GE Healthcare), Edwards Lifesciences Corporation, Boston Scientific Corporation.
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Device Type Analysis (Revenue, USD Million, 2020 - 2027)
• Diagnostic and Monitoring Devices
o Electrocardiogram (ECG)
o Remote Cardiac Monitoring
• Therapeutic and Surgical Devices
o Cardiac Rhythm Management (CRM) Devices
o Heart Valves
o Ventricular Assist Devices (VAD)
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Coronary Artery Disease (CAD)
• Cardiac Arrhythmia
• Heart Failure
End User Analysis (Revenue, USD Million, 2020 - 2027)
• Specialty Clinics
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Cardiovascular Devices Market Companies
• Terumo Cardiovascular Systems Corporation
• Siemens Healthcare GmbH
• B. Braun Melsungen AG
• Johnson & Johnson Services, Inc.
• Cordis (Cardinal Health)
• LivaNova PLC
• GENERAL ELECTRIC COMPANY (GE Healthcare)
• Edwards Lifesciences Corporation
• Boston Scientific Corporation
United States Cardiovascular Devices Market Industry Research Report
Europe Cardiovascular Devices Market Industry Research Report
Asia Pacific Cardiovascular Devices Market Industry Research Report
Cardiovascular diseases are the most deadly diseases. As the consumption of liquor is increasing so is the rate of CVDs. The food habits and the lifestyle of this generation is leading to premature deaths that are people belonging to the age group of below 70. Due to an increase in heart problems the demand for heart surgeries and equipment is also levelling up. Thus the global market of Cardiovascular devices and reached new heights in recent years. The high rates of people with one or the other form of CVDs are also giving birth to new technologies like portable heart devices and surgeries that were not possible a decade before are now being successfully implemented.
Thus the market is all set to take a long jump in the coming years as well. The key factor that is controlling the growth of this is the advancement in technology and research. The more equipment that is being launched capable of monitoring each and everything inside the human system, more are the chances that the lives of many can be saved. Other drivers are the increasing cases of CVDs and that too in the people of age group 40-60. Also, the increasing demand for invasive surgeries o is also pumping up the market. However, as in every market, there are some restrictions also. The cost of surgeries and devices is quite high and a large fraction of the population is not able to afford such costly health care. Also, the death rates are quite high in this particular section and thus lack of proper insurance is coming in the way of its growth.
The key players in the Cardiovascular Devices production and distribution are Medtronic plc., Biotronik, Boston Scientific Corporation, Shree Pacetronix Ltd., CCC Medical Devices, Cook Group Incorporated, Braile Biomédica, Abbott Laboratories, Sorin Group, Osypka Medical GmbH, Galix Biomedical Instrumentation Inc., and Oscor Inc. These companies hold approximately 95 % of the share in the cardiovascular devices market throughout the globe. The major regions where the discussed market is growing rapidly are Europe and Asia Pacific. The cardiovascular devices have an increasing demand in the regions of North America, Latin America, Middle East and Africa. So, the market has an increased chance of expanding in the regions of Middle East and Africa. African countries like Ghana are inducing a need for the devices which will increase the production rates in the region. Almost 50% of the Cardiovascular devices market is controlled by Medtronic, Biotronik, and Abbott Labs.
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