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Cardiovascular Devices Market Size

Report ID: GMI4949
Published Date: Dec 2022
Report Format: PDF

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Cardiovascular Devices Market Size

Cardiovascular Devices Market size was worth more than USD 5.5 billion in 2022 and is set to expand at over 13% CAGR through 2032 owing to the increasing prevalence of cardiovascular disorders worldwide.

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Widespread adoption of advanced technology to address the growing disease burden is projected to boost industry development. Several factors, such as the prevalence of lifestyle problems characterized by rising alcohol and tobacco use, reduced physical exercise, and environmental changes, are foreseen to increase the procedural volume, raising the need for cardiovascular devices through 2032. In addition, favorable government initiatives are likely to encourage cardiovascular devices market expansion. For instance, in 2021, the U.S. government launched the Million Hearts 2027 program to prevent over 1 million heart attacks in the U.S.

Cardiovascular Devices Market Report Attributes
Report Attribute	Details
Base Year:	2022
Cardiovascular Devices Market Size in 2022:	USD 5.96 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	13.1%
2032 Value Projection:	USD 20.21 Billion
Historical Data for:	2018 to 2022
No. of Pages:	220
Tables, Charts & Figures:	301
Segments covered:	Device, End-use, and Region
Growth Drivers:	Increasing number of patients suffering from cardiovascular diseases Expanding geriatric population base contributing to global cardiovascular disease burden Rising government initiatives Technological advancements in cardiovascular devices Rising demand for minimally invasive procedures
Pitfalls & Challenges:	High risk associated with cardiac procedures Stringent regulatory scenario

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Furthermore, technological developments, coupled with the increasing efforts of major companies to develop modern and highly advanced cardiovascular devices to reduce procedural time and provide better outcomes, are estimated to spur product demand among advanced healthcare settings. In addition, the introduction of advanced endoscopic vessel harvesting technologies in coronary artery bypass graft (CABG) surgery has offered an effective treatment solution with high patient satisfaction, thereby supporting the industry's growth from 2023 to 2032.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for cardiovascular devices was valued at more than USD 5.5 billion in 2022 and is expected to grow at over 13% CAGR through 2032 as cardiovascular illnesses are becoming more prevalent across the globe.

The left atrial appendage closure devices segment is set to record substantial growth at a 12.5% CAGR through 2032 due to the growing need for highly advanced treatment solutions.

Asia Pacific cardiovascular devices industry is estimated to generate over USD 4.7 billion by the end of 2032 owing to the growing geriatric population base, coupled with the development of healthcare facilities across the APAC region.

Terumo Corporation, Abbott Laboratories, Japan Lifeline Co., Ltd., Boston Scientific Corporation, KARL STORZ, CardioFocus, Getinge AB, Lifetech Scientific, LivaNova PLC, and Medical Instruments Spa are some of the well-established manufacturers operating in the industry.