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1063084

Global Cardiovascular Devices Market - 2022-2029

Published: | DataM Intelligence | 180 Pages | Delivery time: 2 business days

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Global Cardiovascular Devices Market - 2022-2029
Published: February 18, 2022
DataM Intelligence
Content info: 180 Pages
Delivery time: 2 business days
  • Description
  • Table of Contents

Market Overview

The global cardiovascular devices market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

Cardiovascular devices are used to diagnose heart disease and treat related health issues.

Market Dynamics

The major factors driving the global cardiovascular devices market are the expected technological advancements to drive the market growth in the forecast period.

The technological advancements in cardiovascular devices are expected to drive the market growth in the forecast period

Healthcare organizations worldwide have been transitioning to new business models to improve patient care and operational efficiencies. Artificial intelligence (AI), advanced algorithms, and predictive analytics are some of the recent advancements that aid in the early detection and treatment of critically ill patients and improve outcomes and provide value-based care. Then there's remote connected care, which allows electrocardiogram (ECG) diagnosis via cloud technology and bluetooth-enabled cardiac devices that measure the parameters and transmit them back to healthcare providers without the patient physically visiting the clinic. Over the last decade, technologies used to develop cardiology devices have advanced significantly, and indications for these devices have expanded. As a result, an increasing number of patients are being managed with cardiology devices, leading to exponential therapeutic and monitoring outcomes. Artificial intelligence is one such advancement that significantly impacts cardiology by improving diagnostic capabilities for certain heart conditions.

For instance, on 12th October 2020, GE Healthcare received US FDA 510k clearance for its ultra-edition package of vivid cardiovascular ultrasound systems, including new artificial intelligence (AI)-based features that enable clinicians to acquire faster, more repeatable exams consistently.

The problems associated with cardiovascular devices is expected to hamper the market growth

Stringent regulatory policies are expected to be a major reason to hamper the growth of the cardiovascular devices market. Furthermore, if the devices do not meet the guidelines specified by regulatory authorities, they will not be approved for sale, resulting in a significant loss of investment for the manufacturers. When devices fail to meet USFDA criteria, there is a risk of device recall, which is particularly high in the case of cardiovascular devices, negatively impacting the market under consideration. For instance, on 24th February 2020, the USFDA issued a Class I recall for Abbott's NC Trek RX and NC Traveler RX Coronary Dilatation Catheters due to balloon deflation (diameters 4.0mm, 4.5mm, and 5.00mm).

COVID-19 Impact Analysis

The COVID-19 pandemic impacted cardiovascular device production in 2020. Furthermore, the postponement of elective procedures due to COVID-19-related measures has harmed the cardiovascular medical devices market, particularly in 2020. While some cardiovascular procedures are considered urgent, others have been postponed or delayed since the global pandemic. As a result, for some patients, lifestyle changes and medication can be prescribed instead of cardiovascular procedures. Another factor weighing on the market is a decrease in cardiovascular disease diagnosis due to healthcare resources being reserved for COVID-19 patients. As a result of the pandemic, many medical device companies have suffered losses in their cardiovascular devices business. Medtronic, for instance, announced a 33% reduction in its cardiac and vascular business sector in its 2020 outlook.

Segment Analysis

The ECG segment is expected to dominate the market growth in the forecast period

The adoption of the new generation of portable and compact ECGs is expected to drive market growth, particularly in the home healthcare segment. The prevalence of cardiovascular diseases (CVD) has increased, necessitating long-term ECG monitoring. Furthermore, with the introduction of wireless ECG, doctors can remotely monitor and diagnose the patient on time, further fueling the market. Cardiologs, an artificial intelligence (AI) cardiology diagnostics company, signed an exclusive distribution agreement with MicroPort CRM in France on 1st September 2020 to resell its cloud analysis solution for Holter ECGs.

Furthermore, among the new cardiac device technologies, wearable smart devices with heart-monitoring capabilities, such as bands, watches, and rings, are being used by many people worldwide. Fitbit received US FDA approval for its heart-monitoring electrocardiogram (EKG) app on Fitbit's new Sense smartwatch on 15th September 2020. The feature can monitor heart rhythms and detect atrial fibrillation, the most common type of irregular heartbeat. iRhythm, a digital healthcare company, launched its Zio system in the United Kingdom on 24th October 2019 to aid in identifying and clinical diagnosis of cardiac arrhythmias such as atrial fibrillation (AF). The Zio system consists of a small wearable heart monitor attached to the patient's chest for 14 days.

Geographical Analysis

North America region is expected to hold the largest market share in the global cardiovascular devices market

The increasing prevalence of cardiovascular diseases and increasing technological advancements in cardiovascular devices are expected to drive this region's market growth.

According to the American Heart Association Research Report 2018, heart disease kills one out of seven people in the United States. Coronary heart disease is the leading cause of death from cardiovascular disease in the United States (43.8 percent), followed by stroke (16.8 percent), heart failure (9.0 percent), high blood pressure (9.4 percent), artery diseases (3.1 percent), and other cardiovascular diseases (17.9 percent ). This factor is driving the market in the United States by increasing demand for better treatment with efficient medication.

Furthermore, a few of the country's key market players are developing novel products and technologies to compete with existing products, while others are acquiring and partnering with other companies trending in the market. Abbott restarted its LIFE-BTK clinical trial in September 2020 to assess the safety and efficacy of its new Esprit BTK Everolimus Eluting Resorbable Scaffold System.

Competitive Landscape

With mergers, collaborations, and product launches, the global cardiovascular devices market is highly competitive. Some of the key players in the market are Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences, Cardinal Health Inc., Medtronic PLC, B. Braun Melsungen AG, Siemens Healthcare GmbH, Terumo Cardiovascular Systems Corporation, GE Healthcare

Medtronic PLC

Overview: Medtronic is a medical technology and services company. The Company develops, manufactures, and markets its medical devices and technologies to hospitals, physicians, clinicians, and patients in approximately 160 countries. The Company operates in four segments Cardiac and Vascular Group, Restorative Therapies Group, Minimally Invasive Technologies Group, and Diabetes Group. The company was founded in 1949.

Product Portfolio: Micra AV is the smallest pacemaker with atrioventricular (AV) synchrony, used to treat AV block patients.

Key Developments: On January 20th, The Micra AV, the world's smallest leadless pacemaker with atrioventricular (AV) synchrony, was approved by the US Food and Drug Administration (FDA).

Why Purchase the Report?

  • Visualize the composition of the global cardiovascular devices market segmentation by product, by application, and end user highlighting the key commercial assets and players.
  • Identify commercial opportunities in global cardiovascular devices market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of global cardiovascular devices market- level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The global cardiovascular devices market report would provide an access to an approx. 45+market data table, 40+figures and 180 pages.

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

Market Segmentation

Global Cardiovascular Devices Market- By Device Type

  • Diagnostic and Monitoring Devices
    • Electrocardiogram (ECG)
    • Remote Cardiac Monitoring
    • Other
  • Therapeutic and Surgical Devices
    • Cardiac Assist Devices
    • Cardiac Rhythm Management Devices
    • Catheter
    • Grafts
    • Heart Valves
    • Stents
    • Other

Global Cardiovascular Devices Market-By Application

  • Coronary Heart Disease (CAD)
  • Cardiac Arrhythmia
  • Heart Failure
  • Other

Global Cardiovascular Devices Market- By End User

  • Hospitals
  • Speciality Clinics
  • Other

Global Cardiovascular Devices Market- By Region

  • North America
  • Europe
  • South America
  • Asia Pacific
  • Middle East and Africa
Product Code: DMMD4717

Table of Contents

1. Global Cardiovascular Devices Market Methodology and Scope

  • 1.1. Research Methodology
  • 1.2. Research Objective and Scope of the Report

2. Global Cardiovascular Devices Market- Market Definition and Overview

3. Global Cardiovascular Devices Market- Executive Summary

  • 3.1. Market Snippet By Device Type
  • 3.2. Market SnippetBy Application
  • 3.3. Market Snippet By End User
  • 3.4. Market Snippet By Region

4. Global Cardiovascular Devices Market-Market Dynamics

  • 4.1. Market Impacting Factors
    • 4.1.1. Drivers:
      • 4.1.1.1. The technological advancements in cardiovascular devices
    • 4.1.2. Restraints:
      • 4.1.2.1. The problems associated with cardiovascular devices
    • 4.1.3. Opportunity
    • 4.1.4. Impact Analysis

5. Global Cardiovascular Devices Market- Industry Analysis

  • 5.1. Porter's Five Forces Analysis
  • 5.2. Supply Chain Analysis
  • 5.3. Pricing Analysis
  • 5.4. Regulatory Analysis
  • 5.5. Unmet Needs

6. Global Cardiovascular Devices Market- COVID-19 Analysis

  • 6.1. Analysis of Covid-19 on the Market
    • 6.1.1. Before COVID-19 Market Scenario
    • 6.1.2. Present COVID-19 Market Scenario
    • 6.1.3. After COVID-19 or Future Scenario
  • 6.2. Pricing Dynamics Amid Covid-19
  • 6.3. Demand-Supply Spectrum
  • 6.4. Government Initiatives Related to the Market During Pandemic
  • 6.5. Manufacturers Strategic Initiatives
  • 6.6. Conclusion

7. Global Cardiovascular Devices Market- By Device Type

  • 7.1. Introduction
  • 7.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type
  • 7.3. Market Attractiveness Index, By Device Type
    • 7.3.1. Diagnostic and Monitoring Devices
      • 7.3.1.1.1. Introduction
      • 7.3.1.1.2. Market Size Analysis, US$ Mn, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029
      • 7.3.1.1.3. Electrocardiogram (ECG)
      • 7.3.1.1.4. Remote Cardiac Monitoring
      • 7.3.1.1.5. Other
    • 7.2.2. Therapeutic and Surgical Devices
      • 7.2.2.1. Cardiac Assist Devices
      • 7.2.2.2. Cardiac Rhythm Management Devices
      • 7.2.2.3. Catheer
      • 7.2.2.4. Graft
      • 7.2.2.5. Valves
      • 7.2.2.6. Stent

8. Global Cardiovascular Devices Market-By Application

  • 8.1. Introduction
  • 8.2. Market Size Analysis, and Y-o-Y Growth Analysis (%),By Application
  • 8.3. Market Attractiveness Index,By Application
    • 8.3.2. Coronary Heart Disease (CAD)
      • 8.3.2.1.1. Introduction
      • 8.3.2.1.2. Market Size Analysis, US$ Mn, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029
    • 8.3.3. Cardiac Arrhythmia
    • 8.3.4. Heart Failure
    • 8.3.5. Other

9. Global Cardiovascular Devices Market- By End User

  • 9.1. Introduction
    • 9.1.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End User
    • 9.1.3. Market Attractiveness Index, By End User
  • 9.2. Hospitals*
    • 9.2.2. Introduction
    • 9.2.3. Market Size Analysis, US$ Million, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029
  • 9.3. Speciality Clinics
  • 9.4. Other

10. Global Cardiovascular Devices Market- By Region

  • 10.1. Introduction
    • 10.1.2. Market Size Analysis, US$ Million, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029, By Region
    • 10.1.3. Market Attractiveness Index, By Region
  • 10.2. North America
    • 10.2.2. Introduction
    • 10.2.3. Key Region-Specific Dynamics Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type
    • 10.2.4. Market Size Analysis, and Y-o-Y Growth Analysis (%),By Application
    • 10.2.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End User
    • 10.2.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 10.2.6.1. U.S.
      • 10.2.6.2. Canada
      • 10.2.6.3. Mexico
  • 10.3. Europe
    • 10.3.2. Introduction
    • 10.3.3. Key Region-Specific Dynamics
    • 10.3.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type
    • 10.3.5. Market Size Analysis, and Y-o-Y Growth Analysis (%),By Application
    • 10.3.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End User
    • 10.3.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 10.3.7.1. Germany
      • 10.3.7.2. U.K.
      • 10.3.7.3. France
      • 10.3.7.4. Italy
      • 10.3.7.5. Spain
      • 10.3.7.6. Rest of Europe
  • 10.4. South America
    • 10.4.2. Introduction
    • 10.4.3. Key Region-Specific Dynamics Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type
    • 10.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%),By Application
    • 10.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End User
    • 10.4.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 10.4.6.1. Brazil
      • 10.4.6.2. Argentina
      • 10.4.6.3. Rest of South America
  • 10.5. Asia Pacific
    • 10.5.2. Introduction
    • 10.5.3. Key Region-Specific Dynamics Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type
    • 10.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%),By Application
    • 10.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End User
    • 10.5.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 10.5.6.1. China
      • 10.5.6.2. India
      • 10.5.6.3. Japan
      • 10.5.6.4. Australia
      • 10.5.6.5. Rest of Asia Pacific
  • 10.6. Middle East and Africa
    • 10.6.2. Introduction
    • 10.6.3. Key Region-Specific Dynamics Market Size Analysis, and Y-o-Y Growth Analysis (%), By Device Type
    • 10.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%),By Application
    • 10.6.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End User

11. Global Cardiovascular Devices Market- Competitive Landscape

  • 11.1. Key Developments and Strategies
  • 11.2. Company Share Analysis
  • 11.3. Product Benchmarking

12. Global Cardiovascular Devices Market- Company Profiles

  • 12.1. Medtronic PLC*
    • 12.1.2. Company Overview
    • 12.1.3. Product Portfolio and Description
    • 12.1.4. Key Highlights
    • 12.1.5. Financial Overview
  • 12.2. Boston Scientific Corporation
  • 12.3. Abbott Laboratories
  • 12.4. Edwards Lifesciences
  • 12.5. Cardinal Health Inc.
  • 12.6. B. Braun Melsungen AG
  • 12.7. Siemens Healthcare GmbH
  • 12.8. Terumo Cardiovascular Systems Corporation
  • 12.9. GE Healthcare

LIST NOT EXHAUSTIVE

13. Global Cardiovascular Devices Market- DataM

    • 13.1.2. Appendix
    • 13.1.3. About Us and Services
    • 13.1.4. Contact Us