Cardiovascular Devices Market

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

Report ID: SQMIG35E2016 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 91 | Figures: 76

Cardiovascular Devices Market Regional Insights

On the basis of region, the global cardiovascular devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

By registering strong growth in the upcoming years, Europe is anticipated to hold the second-leading position in this market. The sharp increase in cardiac problems in Central and Eastern Europe is blamed for the growth. According to our market research analysis, Asia Pacific is predicted to experience the fastest rise in market value. The increased adoption of cutting-edge gadgets and the rising prevalence of chronic cardiovascular illnesses are anticipated to lengthen the projection period. For instance, the government of India indicated in February 2018 that the price limitations for stents, particularly the drug-eluting stents, are anticipated to persist. As compared to other international markets, such the United States, these stents have a significantly lower rate.

During the projected period, the rise of the market in Asia Pacific is anticipated to be aided by the region's well-established regulatory environment for cardiovascular devices. The market is being boosted by the rising incidence of cardiac disorders in Brazil, a nation where Non-Communicable Diseases (NCDs), particularly cardiovascular diseases, are the main cause of mortality. Due to the slower adoption of modern gadgets, the Middle East and Africa is expected to grow more slowly to moderately during the projected period. The main drivers anticipated to drive the market in the region throughout the forecast period, are the rapid regional growth and rising public awareness of the seriousness of cardiac illnesses.

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Cardiovascular Devices Market size was valued at USD 17.822 billion in 2019 and is poised to grow from USD 18.8 billion in 2023 to USD 31.1 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

The cardiovascular devices market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability. 'Abbott Laboratories', 'Boston Scientific Corporation', 'Medtronic, Inc.', 'St. Jude Medical, Inc.', 'Johnson & Johnson', 'Terumo Corporation', 'Edwards Lifesciences Corporation', 'Biotronik SE & Co. KG', 'LivaNova PLC', 'Getinge AB', 'Hill-Rom Holdings, Inc.', 'Koninklijke Philips N.V.', 'Siemens Healthineers AG', 'GE Healthcare', 'Toshiba Corporation', 'Fujifilm Holdings Corporation', 'Hitachi, Ltd.', 'Nihon Kohden Corporation', 'Cardiac Science Corporation', 'Schiller AG'

Rise in the Prevalence of Cardiovascular Diseases to Boost the Market

High Demand for Advanced Features in Cardiovascular Devices

On the basis of region, the cardiovascular devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Cardiovascular Devices Market

Product ID: SQMIG35E2016