Cardiovascular Devices Market Size, Future Business Trends, Upcoming Demand, Innovations and Regional Outlook and Forecast 2022-2031

Kenneth Research has recently added a report titled Cardiovascular Devices Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cardiovascular Devices Market products.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Cardiovascular Devices Market is valued at approximately USD 43 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7% over the forecast period 2020-2027. Cardiovascular diseases (CVDs) is the major cause of mortality and morbidity all over the world. The CVDs are the diseases associated with the heart and blood vessels and include coronary heart disease, rheumatic heart disease, cerebrovascular disease, and other heart conditions. Some of the main factors that lead to the prevalence of cardiovascular disease are the consumption of tobacco, physical inactivity, and unhealthy diet, which can raise the risk of heart attacks and strokes. While, the high blood pressure, increased level of cholesterol levels, and diabetes are also causing cardiovascular diseases. Therefore, the demand for cardiovascular devices is significantly rising as they are extensively used to treat and diagnose several heart diseases and associated health complications. Furthermore, the rising cases of cardiovascular diseases among people, along with escalating demand for minimally invasive surgeries are the few factors responsible for the CAGR of the market during the forecast period.

For instance, according to the American Heart Association, the occurred of death due to cardiovascular diseases was about 17.6 million in 2016, and a number is expected to grow to over 23.6 million by 2030. Also, as per the Center for Disease Control and Prevention (CDC), about 610,000 die due to heart diseases in the United States every year. This, in turn, is expected to promote the demand for cardiovascular devices globally. Moreover, the recent outbreak of COVID-19 pandemic around the world has led to a rise in demand for cardiovascular devices and other essential medical supplies to prevent the spread of this pandemic and provide optimum care to the patient, which is further promoting the market growth in the forthcoming years. However, the high deployment & maintenance costs and stringent government regulations for product approval are the few factors impeding the market growth over the forecast period of 2020-2027.

The regional analysis of the global Cardiovascular Devices market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high adoption of sophisticated surgical treatments, rising prevalence of CVDs, and the presence of a significant number of medical device manufacturers in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as sedentary lifestyles and unhealthy dietary habits, rising elderly population, and increasing incidences of cardiac arrest among people would create lucrative growth prospects for the Cardiovascular Devices market across the Asia-Pacific region.

Major market player included in this report are:
Medtronic plc
Becton, Dickinson and Company
Cardinal Health, Inc.
Boston Scientific Corporation
B. Braun Melsungen AG
Abbott Laboratories
Cook Medical, Inc.
Terumo Cardiovascular Systems Corporation
St. Jude Medical
Edwards Lifesciences

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
Diagnostic and monitoring devices
Surgical Devices

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By Application:
Coronary Heart Disease
Sudden Cardiac Arrest
Cerebrovascular Heart Disease

By End-User:
Cardiac Diagnostic Centres
Ambulatory Surgical Centres

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Cardiovascular Devices Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

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