According to a new market research report published by Global Insight Services “Global Cardiovascular Devices Market size was USD 53.3 billion in 2021 and is anticipated to reach USD 91.9 billion in 2031, growing at a rate of 5.2% from 2022 to 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Cardiovascular diseases (CVDs) are a group of disorders of the heart and blood vessels and include coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions. Cardiovascular devices such as stents, catheters, grafts, and others are used to treat CVDs efficiently.
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Major Players of the Global Cardiovascular devices Market
The global cardiovascular devices market report includes players such as Abbott Laboratories, B. Braun Melsungen AG, Becton, Dickinson and Company, Biotronik SE & Co. KG, Boston Scientific Corp., Cardinal Health Inc., Cook Medical, Koninklijke Philips N.V., Medtronic plc., and Terumo Corporation.
Market Trends and Drivers
The cardiovascular devices control irregularities caused by the heart’s electrical systems, such as irregular heartbeat and heart rhythm disorders. When medication, lifestyle changes, or other treatments do not work, an implantable device may be recommended. Certain factors that are boosting the cardiovascular devices market growth include a rise in the use of ambulatory and home services for cardiac monitoring, the increasing prevalence of cardiovascular disorders, favorable reimbursement policies, and technological advancements.
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Global Cardiovascular Devices Market Segmentation
The report analyses the cardiovascular devices market based on type, application, end-users, and regions.
Global Cardiovascular Devices Market By Type
Based on type, it is segmented into diagnostic & measuring devices, and therapeutic & surgical devices. The diagnostic & measuring devices is sub-segmented into electrocardiogram (ECG), remote cardiac monitoring, and others. Likewise, the therapeutic & surgical devices segment is also sub-segmented into cardiac rhythm management, catheter, stents, heart valves, and others. The demand for diagnostic & measuring cardiovascular devices is expected to grow significantly in the forecast period. The growth of this segment can be attributed to the increasing demand for minimally invasive surgeries is growing the application of surgical instruments in the treatment of coronary artery disease.
Global Cardiovascular Devices Market By Application
By application, it is divided into cardiac rhythm management, coronary vascular, structural heart, peripheral vascular, and others. The demand in the cardiovascular devices market for peripheral vascular is expected to grow significantly in the forecast period. Cardiac rhythm management is expected to hold a significant share of the market due to the rise in the deployment of cardiovascular devices in small, medium, and large organizations globally. In addition, there has been an increase in demand for efficient and reliable peripheral vascular and structural heart devices in several regions globally. Thus, the demand in the cardiovascular devices market would rise during the forecast period.
Reasons to buy Global Cardiovascular Devices Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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