Global Cardiovascular Devices Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Cardiovascular devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global cardiovascular devices industry share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global cardiovascular devices market size reached US$ 55.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 82.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.
Cardiovascular devices are designed to diagnose, treat, and monitor heart-related conditions and diseases. They consist of several devices, such as pacemakers, stents, defibrillators, and cardiac monitors, each tailored to specific medical needs. They are specifically engineered to support the cardiovascular system, which includes the heart and blood vessels. They are manufactured using advanced materials and cutting-edge technologies, ensuring their reliability and effectiveness. They help in diagnosing conditions accurately, enabling timely interventions. They aim to improve heart health, enhance the quality of life for patients, and reduce the risk of cardiovascular events. They offer benefits like enhanced patient outcomes, reduced hospitalization rates, and improved overall healthcare efficiency. They find extensive use in various medical settings, from hospitals to outpatient clinics.
Global Cardiovascular Devices Market Trends and Drivers:
Increasing incidences of heart diseases, such as coronary artery disease, heart failure, and arrhythmias, due to the adoption of unhealthy lifestyle habits among individuals represents one of the crucial factors impelling the market growth. Additionally, the rising cost of healthcare services is encouraging healthcare providers and patients to explore cost-effective solutions, such as outpatient procedures and home-based monitoring utilizing various cardiovascular devices. Besides this, the growing demand for personalized medicine, as it improves treatment outcomes, is positively influencing the market. Moreover, the increasing government initiatives and healthcare policies aimed at reducing the burden of cardiovascular diseases are promoting the adoption of advanced cardiovascular devices. In addition, rising innovations in device technology, including the development of wearable heart monitors and bioresorbable stents, are propelling the growth of the market. Furthermore, the growing shift towards value-based healthcare models, wherein reimbursement is tied to patient outcomes, is strengthening the market growth. Apart from this, the increasing advancements in data analytics and artificial intelligence (AI) are facilitating the development of predictive and personalized cardiovascular devices, enhancing their efficacy and appeal.
Global Cardiovascular Devices Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Abbott Laboratories, B. Braun Melsungen AG, Biotronik, Boston Scientific Corporation, Canon Medical Systems Corporation, Cardinal Health Inc., Edwards Lifesciences Corporation, General Electric Company, LivaNova PLC, Medtronic PLC, Siemens Healthineers GmbH (Siemens AG) and Terumo Cardiovascular Systems Corporation (Terumo Corporation)
The report segmented the market on the basis of region, device type, application and end user.
Breakup by Device Type:
- Diagnostic and Monitoring Devices
- Electrocardiogram (ECG)
- Remote Cardiac Monitoring
- Others
- Therapeutic and Surgical Devices
- Cardiac Rhythm Management (CRM) Devices
- Catheter
- Stents
- Heart Valves
- Others
Breakup by Application:
- Coronary Artery Disease (CAD)
- Cardiac Arrhythmia
- Heart Failure
- Others
Breakup by End User:
- Hospitals
- Specialty Clinics
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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