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What is the Future CAGR of the Cardiovascular Devices Market, and How Will It Impact Industry Expansion?

The market size for cardiovascular devices has experienced robust growth in the recent past. It is projected to expand from $73.14 billion in 2024 to $79.78 billion in 2025, with a compound annual growth rate (CAGR) of 9.1%. Factors contributing to growth in the historic period include lifestyle-related disorders, an increasing elderly populace, the introduction of minimally invasive procedures and implantable devices, improved healthcare access, and regulatory endorsements.

We anticipate robust expansion in the cardiovascular devices market in the ensuing years, with its valuation poised to hit $102 billion by 2026, progressing at a compound annual growth rate of 6.3%. Factors instigating this growth over the forecast period include the adoption of personalized medicine and remote monitoring, the rise of emerging markets, the integration of artificial intelligence (AI), and the shift towards value-based healthcare. Key trends set to define the forecast period are advancements in wearable cardiovascular devices, an increasing preference for minimally invasive procedures, the use of bioresorbable devices, the expansion of remote consultations and telesurgery, and a move towards sustainable and eco-friendly devices.

What Major Innovations Are Driving the Accelerated Growth of the Cardiovascular Devices Market?

The surge in cardiovascular diseases is a key factor propelling the expansion of the cardiovascular device market. Cardiovascular diseases entail a variety of ailments affecting the heart and blood vessels, which broadly includes conditions associated with the circulatory system. A cardiovascular device is essentially utilized to aid heart function and blood circulation in individuals with weakening or failed hearts. For instance, the Immigration and Checkpoints Authority, a government institution based in Singapore, reported that there were 6,884 fatalities due to heart and hypertensive diseases in 2022, marking an upswing of 10.35% in comparison to the 6,238 deaths noted in 2021. Consequently, the escalating occurrence of cardiovascular diseases is anticipated to bolster the cardiovascular device market’s growth.

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What Are the Top Market Players Propelling the Growth of the Cardiovascular Devices Industry?

Major companies operating in the cardiovascular devices market include Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Edwards Lifesciences Corporation, Johnson & Johnson, Terumo Corporation, Getinge AB, Teleflex Incorporated, Becton, Dickinson and Company, Siemens Healthineers AG, Fresenius SE & Co. KGaA, GE HealthCare Technologie Inc., Stryker Corporation, B. Braun Medical Pvt. Ltd., Baxter International Inc., Danaher Corporation, Fujifilm Holdings Corporation, Canon Medical Systems Corporation, MicroPort Scientific America Inc., W L Gore & Associates Inc., AngioDynamics Inc., CryoLife Inc., Endologix LLC, Lombard Medical Limited, Avinger Inc., Abiomed Inc., Biosensors International Group Ltd., Biotronik SE and Co. KG, CeloNovaBioSciences Inc., LeMaitre Vascular Inc., Nano Therapeutics Pvt. Ltd.

What Are the Key Trends to Watch in the Cardiovascular Devices Market Over the Coming Years?

Prominent companies in the cardiovascular devices market are introducing new products like the balloon ablation catheter in an effort to maximize their market profitability. The balloon ablation catheter is the first of its kind in radiofrequency balloon ablation catheters designed specifically for catheter-based cardiac electrophysiological mapping, including atrial stimulation and recording. For example, Biosense Webster, a US-based company specializing in the science of diagnosing and treating heart rhythm disorders, revealed the HELIOSTAR Balloon Ablation Catheter in October 2022. The unique one-shot balloon technology featured in the HELIOSTAR Balloon Ablation Catheter enables pulmonary vein isolation in a brief 12 seconds, enhanced with bespoke energy delivery and a built-in 3D mapping solution.

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How Are Market Segments in the Cardiovascular Devices Industry Positioned for Long-Term Growth?

The cardiovascular devices market covered in this report is segmented –

1) By Type: Cardiovascular Surgery Devices And Equipment, Cardiac Rhythm Management (CRM) Devices And Equipment, Interventional Cardiology Devices And Equipment, Defibrillator Devices And Equipment, Peripheral Vascular Devices And Equipment, Prosthetic Heart Valve Devices And Equipment, Electrophysiology Devices And Equipment, Cardiac Assist Devices And Equipment

2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users

3) By Type of Expenditure: Public, Private

4) By Product: Instruments Or Equipment, Disposables

Subsegments:

1) By Cardiovascular Surgery Devices And Equipment: Coronary Artery Bypass Graft (CABG) Equipment, Heart Valve Repair And Replacement Devices, Aortic Aneurysm Repair Devices, Cardiopulmonary Bypass Equipment, Other Cardiovascular Surgery Devices

2) By Cardiac Rhythm Management (CRM) Devices And Equipment: Pacemakers, Defibrillators, Cardiac Resynchronization Therapy (CRT) Devices

3) By Interventional Cardiology Devices And Equipment: Stents (Drug-Eluting, Bare-Metal), Catheters (Balloon, Diagnostic, Guiding), Angioplasty Equipment, Guidewires, Other Interventional Cardiology Devices

4) By Defibrillator Devices And Equipment: Implantable Cardioverter Defibrillators (ICDs), Automated External Defibrillators (AEDs), Wearable Defibrillators, External Defibrillators

5) By Peripheral Vascular Devices And Equipment: Peripheral Stents, Balloons (Peripheral Angioplasty), Embolic Protection Devices, Endovenous Laser Devices, Other Peripheral Vascular Devices

6) By Prosthetic Heart Valve Devices And Equipment: Mechanical Heart Valves, Biological Heart Valves, Transcatheter Heart Valves (TAVR), Other Prosthetic Heart Valve Devices

7) By Electrophysiology Devices And Equipment: Ablation Catheters, Electrophysiology Mapping Systems, ECG And EKG Systems, Cardiac Mapping And Navigation Systems, Other Electrophysiology Devices

8) By Cardiac Assist Devices And Equipment: Ventricular Assist Devices (LVADs), Intra-Aortic Balloon Pumps, Total Artificial Heart, Extracorporeal Membrane Oxygenation (ECMO), Other Cardiac Assist Devices

What Regions Are Dominating the Cardiovascular Devices Market Growth?

North America was the largest region in the global cardiovascular devices market in 2023. Western Europe was the second largest region in the global cardiovascular devices market. Africa. was the smallest region in the global cardiovascular devices market. The regions covered in the cardiovascular devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Are the Key Characteristics That Define the Cardiovascular Devices Market?

Cardiovascular devices are used to monitor and control irregular heartbeats and heart rhythm disorders.

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