Home > Healthcare > Medical Devices > Surgical Devices > Cardiovascular Devices Market

Cardiovascular Devices Market - By Device (Cardiac Ablation Devices, Left Atrial Appendage Closure Devices, Endoscopic Vessel Harvesting Devices), By End-use (Hospitals, Clinics, Cardiac Centers) & Forecast, 2023-2032

  • Report ID: GMI4949
  • Published Date: Dec 2022
  • Report Format: PDF

Cardiovascular Devices Market Size

Cardiovascular Devices Market size was worth more than USD 5.5 billion in 2022 and is set to expand at over 13% CAGR through 2032 owing to the increasing prevalence of cardiovascular disorders worldwide.
 

Cardiovascular Devices Market

To get key market trends   Download Free Sample

Widespread adoption of advanced technology to address the growing disease burden is projected to boost industry development. Several factors, such as the prevalence of lifestyle problems characterized by rising alcohol and tobacco use, reduced physical exercise, and environmental changes, are foreseen to increase the procedural volume, raising the need for cardiovascular devices through 2032. In addition, favorable government initiatives are likely to encourage cardiovascular devices market expansion. For instance, in 2021, the U.S. government launched the Million Hearts 2027 program to prevent over 1 million heart attacks in the U.S.
 

Furthermore, technological developments, coupled with the increasing efforts of major companies to develop modern and highly advanced cardiovascular devices to reduce procedural time and provide better outcomes, are estimated to spur product demand among advanced healthcare settings. In addition, the introduction of advanced endoscopic vessel harvesting technologies in coronary artery bypass graft (CABG) surgery has offered an effective treatment solution with high patient satisfaction, thereby supporting the industry's growth from 2023 to 2032.
 

High risk associated with cardiac procedures may hinder the cardiovascular devices market growth

Cardiac surgeries are classified as high-risk operations due to the danger of blood clots, bleeding from the surgical site or grafts, post-pericardiotomy syndrome, heart rhythm abnormalities, and other complications. The severe hazards associated with these procedures may impede the overall industry growth. According to a recent analysis, individuals undergoing cardiac surgery are more likely to develop surgical site infections, which can account for 3.5% to 21% of all surgical site infection cases. However, ongoing R&D efforts to develop advanced equipment and procedures, are poised to aid in overcoming this barrier.
 

Cardiovascular Devices Market Analysis

Cardiovascular Devices Market by Device

Learn more about the key segments shaping this market   Download Free Sample

The cardiovascular devices market is segmented in terms of devices into cardiac ablation devices, left atrial appendage closure devices, and endoscopic vessel harvesting devices. The report cites that the left atrial appendage closure devices segment is projected to progress at a 12.5% CAGR over the forecast period driven by continuous product advancements addressing the rising need for highly sophisticated treatment solutions. Additionally, an increasing number of innovative product launches backed by collaborations between industry players to strengthen development capacities is anticipated to promote segment growth through 2032.
 

Cardiovascular Devices Market by End-use

Learn more about the key segments shaping this market   Download Free Sample

Based on end-use, the cardiovascular devices market is classified into hospitals, ambulatory surgical centers, cardiac centers, and others. The cardiac centers segment is speculated to grow at over 13% CAGR through 2032, the report claims. The availability of several treatment options at cardiac centers, coupled with the growing government support for the expanding patient base suffering from cardiac conditions, is likely to augment segment revenue. Additionally, the market is expected to experience profitable growth between 2023 and 2032 in line with the development of quality healthcare infrastructure and increased awareness among patients.
 

Cardiovascular Devices Market by Region

Looking for region specific data?   Download Free Sample

Asia Pacific cardiovascular devices market valuation is anticipated to reach over USD 4.7 billion by 2032. The region's rapidly aging population adding to the burden of disease is expected to positively influence product demand. The adoption of advanced technology drives the demand for cutting-edge equipment that aids in difficult tasks. Additionally, the development of healthcare facilities as a result of cumulative economic development in Asian countries is estimated to further strengthen the regional business scenario.
 

Cardiovascular Devices Market Share

Some major enterprises operating in the cardiovascular devices market are:

  • Biotronik SE & Co KG
  • Terumo Corporation
  • Saphena Medical
  • Lepu Medical Technology(Beijing)Co Ltd
  • Abbott Laboratories
  • MicroPort Scientific Corporation
  • Biosense Webster
  • Medtronic
  • Japan Lifeline Co., Ltd
  • AngioDynamics, Inc
  • Boston Scientific Corporation
  • CardioFocus
  • Stereotaxis, Inc
  • KARL STORZ
  • Occlutech
  • CardioFocus
  • Getinge AB
  • AtriCure, Inc
  • Lifetech Scientific
  • LivaNova PLC
  • Medical Instruments Spa
     

The strong focus of leading companies on technical advancements in these devices to gain a competitive edge and achieve greater product sales is likely to boost industry expansion further. For instance, in February 2022, Boston Scientific Corporation, a medical products company, acquired Baylis Medical Business Inc., a medical technology company, to improve the company's product portfolio in atrial fibrillation ablation and left-heart treatments.
 

Impact of COVID-19 Pandemic

The COVID-19 outbreak was followed by stringent limitations on movement and high risk of infection during surgery, reducing the demand for elective surgeries. According to research by the European Society of Cardiology, the number of people seeking care for a heart attack dropped by more than half over the initial phase of the pandemic. The cardiac procedure deferrals were primarily connected with the urgency and severity of the COVID-19 load in hospitals, which hampered device sales. Nonetheless, with declining COVID-19 cases, patients are opting for pending elective surgeries, which is likely to promote product uptake.
 

The cardiovascular devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

Click here to Buy Section of this Report


By Device

  • Cardiac ablation devices
    • Radiofrequency ablators
    • Electric ablators
    • Cryoablation devices
    • Ultrasound devices
    • Others
  • Left atrial appendage closure devices
    • Endocardial LAA closure devices
    • Epicardial LAA closure devices
  • Endoscopic vessel harvesting devices
    • EVH systems
    • Endoscopes
    • Accessories

By End-use

  • Hospitals
  • Centers ambulatory surgical
  • Cardiac centers
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Others
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Others

 

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for cardiovascular devices was valued at more than USD 5.5 billion in 2022 and is expected to grow at over 13% CAGR through 2032 as cardiovascular illnesses are becoming more prevalent across the globe.
The left atrial appendage closure devices segment is set to record substantial growth at a 12.5% CAGR through 2032 due to the growing need for highly advanced treatment solutions.
Asia Pacific cardiovascular devices industry is estimated to generate over USD 4.7 billion by the end of 2032 owing to the growing geriatric population base, coupled with the development of healthcare facilities across the APAC region.
Terumo Corporation, Abbott Laboratories, Japan Lifeline Co., Ltd., Boston Scientific Corporation, KARL STORZ, CardioFocus, Getinge AB, Lifetech Scientific, LivaNova PLC, and Medical Instruments Spa are some of the well-established manufacturers operating in the industry.

Cardiovascular Devices Market Scope

Buy Now


Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 301
  • Countries covered: 18
  • Pages: 220
 Download Free Sample
 Download Free Sample