The global cardiovascular devices market size was US$ 47.1 billion in 2021. The global cardiovascular devices market is forecast to grow to US$ 72.28 billion by 2030 by growing at a compound annual growth rate (CAGR) of 7.40% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The growing prevalence of heart-related diseases will primarily drive the global cardiovascular devices market forward,

Among Americans, around one individual dies every 40 seconds due to cardiovascular disease. A study by the American College of Cardiology states that cardiovascular disease (CVD) resulted in 8,00,000 deaths in the US in the year 2017.

The rising rate of sedentary lifestyle adoption, majorly due to work from home culture and unhealthy routine habits, will contribute to the growth of the global cardiovascular devices market. Furthermore, growing cases of hypertension, smoking, and rising consumption of alcohol will escalate the growth of the global cardiovascular devices market during the study period.

The growing geriatric population and technology advancements will benefit the global cardiovascular devices market. In addition, rising healthcare expenditure and trending home healthcare will benefit the global cardiovascular devices market.

The growing popularity of wireless ECG to diagnose and monitor the patient remotely on time will surge the growth of the global cardiovascular devices market during the forecast period.

The rising number of FDA approvals and partnerships will offer ample growth opportunities for the global cardiovascular devices market. For instance, Cook Medical received approval from U.S. Food and Drug Administration (FDA) in February 2019 for Zenith endovascular aortic dissection system. In addition, Sahajanand Medical Technologies inked a partnership with Cardinal Health in March 2018 with the aim to present Cardinal Health access to the Indian cardiology market. Such events are likely to benefit the global cardiovascular devices market in the coming years.

COVID-19 Impact Analysis

The COVID-19 pandemic had a negative impact on the global cardiovascular devices industry. Various patients suffered from critical heart diseases, which increased the demand for effective treatment. However, the manufacturing disruptions during the first phase of the pandemic altered the growth landscape of the global cardiovascular devices market. Moreover, regular check-ups and diagnoses were either postponed or cancelled for a long time. As a result, it impacted the growth of the global cardiovascular devices market.

Regional Analysis

North America is forecast to hold the largest share in the global cardiovascular device market. It is owing to the rising awareness related to the commercially available products, growing penetration of advanced surgical products, increasing rate of geriatric population, and unhealthy lifestyle of the population. Further, the trending home healthcare is forecast to offer ample growth opportunities for the regional market.

The Asia-Pacific cardiovascular devices market is forecast to register strong growth due to growing healthcare expenditure, favorable initiatives by government bodies, and the rising prevalence of cardiac disease. In addition, the high investments by healthcare bodies for the latest equipment and rising R&D activities will further fuel the growth of the market.

Competitors in the Market

Abbott Laboratories
Medtronic PLC
Boston Scientific Corporation
Cardinal Health Inc.
Edward Lifesciences
Biosense Webster, Inc.
Cook Medical
Sahajanand Medical Technologies
Siemen AG,
General Electronic Company
B. Braun Melsungen AG
Koninklijke Philips N.V.
St. Jude Medical, Inc.
Market Segmentation

The global cardiovascular devices market segmentation focuses on Device, End-User, and Region.

Based on Device Type

Electrocardiography (ECG)
Cardiac Catheter
Heart Valve, Pacemaker
Defibrillator
Event Monitor
Guidewire
Others
Based on End-User

Cardiac Centers
Ambulatory
Surgery Centers
Hospitals
Based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America