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Cardiovascular Devices Market Growth 2032:
Surge in Coronary and Peripheral Vascular Devices
The cardiovascular devices market includes a wide range of medical equipment used to diagnose,
monitor, and treat heart and vascular conditions. Key products comprise stents, pacemakers,
defibrillators, cardiac monitors, catheters, and heart valves—used in both surgical and minimally
invasive procedures. Market growth is driven by rising incidence of cardiovascular diseases, expanding
geriatric populations, and advances in device technologies—such as implantable miniaturized systems and
remote monitoring platforms. Innovation in materials (like drug-eluting coatings), robotics-assisted
interventions, and wireless connectivity are enhancing outcomes. As healthcare access improves globally
and adoption of preventive cardiology increases, the market for cardiovascular devices is expected to
expand steadily.
According to Fortune Business Insights, the global cardiovascular devices market was valued at USD 61.39
billion in 2023. The market is projected to grow from USD 65.53 billion in 2024 to USD 117.68 billion by
2032, exhibiting a CAGR of 7.6% during the forecast period. In 2023, North America dominated the
cardiovascular devices market with a market share of 52.24%.
Top Companies in the Market
B. Braun Melsungen AG (Germany)
Medtronic (Ireland)
Abbott (U.S.)
Boston Scientific Corporation (U.S.)
Edwards Lifesciences Corporation (U.S.)
Johnson & Johnson Services, Inc. (U.S.)
GE Healthcare (U.S.)
LivaNova PLC (U.K.)
Siemens Healthcare GmbH (Germany)
Terumo Cardiovascular Systems Corporation (Japan)
Other Prominent Players
Key Industry Development
In November 2023, Cardio Diagnostics Holdings partnered with Vizient to develop AI-powered cardiovascular
tests. This collaboration reflects the industry's increasing integration of cutting-edge diagnostic tools to
enhance accuracy and patient outcomes.
Market Drivers & Restraints
Key Drivers
Rising Chronic Heart Disease: The high prevalence of heart failure, arrhythmia, and coronary
artery disease is increasing demand for innovative device interventions.
Improved Accessibility: Reductions in device prices—like coronary stents—have expanded access,
especially in emerging markets. For example, in Maharashtra, India, access to stenting procedures
increased by 43% following price reductions.
Regulatory Approvals & Adoption: Regulatory approvals and public health initiatives, coupled
with rising procedural volumes, are fueling market growth.
Key Restraints
R&D and Reimbursement Barriers: Long development times and tight reimbursement policies
make it difficult to bring innovative devices to market.
Recall Risks: Product failures and recalls—such as Abbott's balloon catheter—undermine consumer
confidence and can negatively impact market growth.
Market Report Coverage
The Fortune Business Insights report covers:
Historical market analysis (2019–2023) and forecast (2024–2032)
Segmentation: Diagnostic & monitoring vs. therapeutic & surgical devices
Applications: Coronary artery disease, cardiac arrhythmia, heart failure, and more
End users: Hospitals, specialty clinics, others
Regional insights: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
COVID-19 impact assessment
Competitive landscape and key industry trends
Market Competitive Landscape
The Cardiovascular Devices market is highly competitive, with major players actively involved in product
innovation. Medtronic, Abbott, Boston Scientific, and Edwards Lifesciences are leading the way with diverse
and advanced portfolios. These companies are launching cutting-edge devices and forging partnerships—
such as the recent AI-focused alliance between Cardio Diagnostics and Vizient—to keep pace with rising
demand and improve patient care.
https://www.fortunebusinessinsights.com/cardiovascular-devices-market-102418
Market Segments
By Device Type
The market is divided into:
Diagnostic & Monitoring Devices: Includes ECG systems, remote cardiac monitors, etc.
Therapeutic & Surgical Devices: Comprising ventricular assist devices (VAD), cardiac rhythm
management (CRM) systems, catheters, stents, heart valves, and more.
The therapeutic & surgical devices segment is expected to lead market growth due to increasing
procedure volumes and technology adoption, such as new mitral clip-delivery systems .
By Application
Coronary Artery Disease (CAD): Largest share, driven by widespread use of stents.
Cardiac Arrhythmia: Growth led by adoption of pacemakers and ablation systems like Medtronic’s
Azure series.
Heart Failure: Demand for VADs and other support devices is steadily growing.
Other cardiovascular conditions: Gradual expansion.
By End User
Hospitals: The largest end-user segment due to critical infrastructure needed for device
implantation.
Specialty Clinics: Rapidly expanding with centers for cardiac care.
Other settings like ambulatory care: Emerging steadily.
Regional Insights
North America
Dominating the global market with a share of ~52.24% and a 2023 value of USD 32.07 billion. High
procedural volumes and strong vendor presence are key drivers.
Europe
Solid growth driven by rising cardiovascular disease rates and expanding device adoption.
Asia-Pacific
Fastest-growing region, powered by price reductions (e.g., in India for stents), rising disease burden, and
expanding infrastructure.
Explore the full research report with detailed insights and
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Future Market Scope
The cardiovascular devices market outlook remains optimistic. Ongoing innovations—such as AI-powered
diagnostics, minimally invasive devices, and remote monitoring technology—will continue to redefine patient
care. Strategic alliances and regulatory support will further facilitate product development and market
expansion. As global cardiovascular health challenges intensify, the demand for advanced devices is
expected to double, illuminating an attractive horizon of growth and opportunities.
Conclusion
Amid rising chronic cardiovascular diseases and growing demand for advanced medical interventions, the
cardiovascular devices market is poised for sustained expansion. With major players advancing therapeutic
capabilities and technology integration, this market stands as a paradigm of innovation in contemporary
healthcare. For organizations positioned strategicallly in device development or clinical services, the coming
decade promises tremendous prospects and meaningful patient impact.
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