Cardiovascular Devices Market to Hit USD 110.39 Billion by 2029 with 7.3% CAGR

The Asia pacific cardiovascular devices devices market is projected to reach USD 27.499 billion by 2029, growing at a CAGR of 8.85% during the forecast period
The global cardiovascular devices market [https://www.marketsandmarkets.com/Market-Reports/cardiovascular-devices-market-72205881.html?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=cardiovasculardevicesmarket], valued at US$ 72.83 billion in 2023, is forecasted to grow at a robust CAGR of 7.3%, reaching US$ 77.71 billion in 2024 and an impressive US$ 110.39 billion by 2029.

The growth of the cardiovascular devices market is primarily due to the increasing prevalence of CVD, the aging population, and the growing prevalence of risk factors like diabetes, hypertension, obesity, and sedentary lifestyle. Technological improvements, such as bioresorbable stents, drug-eluting stents, bioresorbable occluder and imaging systems, are significantly enhancing procedural efficacy and patient outcomes, making cardiovascular devices appealing and accessible. Countries in emerging economies are also focused on modernizing healthcare infrastructure with favourable investments in healthcare systems expected to fuel the adoption of cardiovascular devices. Additionally, the growing preference of patients towards minimally invasive procedures and remote monitoring owing to procedural benefits such as rapid diagnosis, shorter hospital stays rapid recovery time is also expected to boost the demand for these devices during the forecast period.

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OPPORTUNITY: Projected growth in the elderly population

The projected growth in the elderly population act as an important opportunity for the cardiovascular devices market as the increased prevalence of CVDs is among older individuals. old age is a major risk factor for cardiac conditions such as coronary artery disease, heart failure, arrhythmias, and valvular disorders. The physiological changes in the cardiovascular system, such as arterial stiffening and reduced vascular elasticity, render older individuals more susceptible to the above diseases. The global population aged 65 years and older is expected to increase two-fold by 2050. As a result of this, the demand for advanced diagnostic, monitoring, and therapeutic cardiovascular devices will increase. Further, minimally invasive technologies will be more adopted since they reduce the recovery time and are best suited for the elderly patient with comorbidities. Governments and healthcare systems across the globe are now focusing their investments on geriatric care, thereby supporting cardiovascular devices adoption. Personalized medicine is also contributing to this growth as it allows the elderly to have device-based interventions tailored for them.

Based on Product type, the cardiovascular devices market has been segmented into cardiac imaging & diagnostic device, Cardiac rhythm management device, Interventional cardiology device, Cardiac assist device, Electrophysiology device, External support device and Monitoring device. Among these segments, the cardiac imaging and diagnostic device would hold a significant market share in 2023. This can be attributed to widespread applications of these devices in monitoring and treating cardiovascular conditions coupled with rising prevalence of cardiovascular diseases. Devices such as ECGs, cardiac MRI machines, and CT scanners can be used to diagnose heart conditions such arrhythmias, heart failure, and coronary artery disease. An ECG provides real-time activity of the heart, allowing for the early diagnosis of abnormalities; a cardiac CT scan allows for a detailed visualization of the coronary artery blockage. Wearable cardiac monitors such as Holter monitors, and portable ECGs facilitate continuous monitoring and allow for timely interventions in the case of arrhythmias or other cardiac events. Furthermore, the need for precise diagnostic procedures has grown as a result of the increasing prevalence of cardiovascular illnesses brought on by an aging population, sedentary lifestyles, and other risk factors including obesity and diabetes.

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Based on indication type, the cardiovascular devices market is segmented into coronary artery disease, arrhythmias, structural heart disease, congestive heart failure, inflammatory heart disease and other cardiovascular indicatios. The other cardiovascular indications include, health check-ups, fitness and wellness tracking, monitoring during surgeries and post recovery. The most important share is held by arrhythmias, given the high prevalence and its clinical impact . With population aging, and hypertension, obesity, and diabetes becoming more frequent comorbidities, lead to conditions like atrial fibrillation (AFib), the most common form of arrhythmia. Arrhythmias may cause severe complications, such as stroke, heart failure, and sudden cardiac death, thus increasing the demand for proper diagnostic and therapeutic solutions. The sophisticated devices, such as ICDs, pacemakers, and cardiac mapping systems, have a major role in managing arrhythmias, thereby creating immense growth opportunities in the market.

Based on end user, the cardiovascular devices market is segmented into hospitals & clinics, Diagnostic laboratories, Ambulatory surgical centers and other. The other end users include research organizations, CROs, Fitness centers and home care settings. In 2023, hospitals took the largest share in cardiovascular devices market. The majority of monitoring and interventional cardiology procedures are conducted in hospital settings, where specialized facilities and equipment are readily available to handle complex procedures safely. Hospitals are equipped with catheterization labs, or cath labs, that provide the necessary environment for a range of interventions, such as angioplasty and stenting, coronary artery bypass grafting (CABG), and transcatheter aortic valve replacement (TAVR). These settings also ensure immediate access to critical care services and emergency interventions if needed

North America accounted for the largest share of the cardiovascular devices market, followed by Europe and Asia Pacific. Cardiovascular devices in North America is experiencing rapid advancements, driven by technological innovations and increasing demand for minimally invasive procedures. The region has seen notable progress in catheter-based technologies, imaging techniques, and stent designs, which together enhance the accuracy, safety, and success rates of interventions. Drug-eluting stents (DES), bioresorbable vascular scaffolds and occludes, and newer iterations of drug-coated balloons are widely used, with more advanced versions continually emerging to improve patient outcomes. Additionally, sophisticated imaging techniques, such as optical coherence tomography (OCT) and intravascular ultrasound (IVUS), allow cardiologists to visualize blood.

The prominent players operating in the global cardiovascular devices market are Medtronic Plc (Ireland), Abbott Laboratories (US), Boston Scientific Corporation (US), Terumo Corporation (Japan), GE Healthcare Technologies, Inc. (US), Edward Lifesciences Corporation (US), Siemens Healthineers AG (Germany), Johnson & Johnson (US), Baxter International Inc (US), B. Braun SE (Germany), Getinge AB (Sweden), Koninklijke Philips N.V. (Netherlands), Lepu Medical Technology (Beijing) Co., Ltd (China), Nihon Kohden Corporation (Japan), MicroPort Scientific Corporation (China), Japan Lifeline Co., Ltd. (Japan), AngioDynamics, Inc.(US), LifeTech Scientific Corporation (China), Artivion Inc (US), Sahajanand Medical Technologies Limited (India), OrbusNeich Medical Group Holdings Limited (China), BPL Medical Technologies (India), BiotroniK. (Germany),), W.L. Gore & Associates, Inc (US), Canon medical systems corporation (Japan), Picard Medical Company (US).

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