Cardiovascular Devices Market Share, Size and Growth Analysis By 2029

The cardiovascular devices market is projected to expand significantly, increasing from US$ 48,106.47 million in 2021 to US$ 76,526.68 million by 2028. This growth represents a compound annual growth rate (CAGR) of 6.9% over the forecast period from 2021 to 2028. The primary drivers of this market expansion include the rising incidence of cardiovascular diseases (CVDs) and a growing number of product launches and regulatory approvals. Nevertheless, the high costs associated with these devices and procedures may pose challenges to market growth during this period.

Cardiovascular diseases remain the leading cause of morbidity and mortality worldwide. These disorders affect the heart and blood vessels, resulting in various health issues, including cerebrovascular disease, coronary heart disease, and rheumatic heart disease. Key lifestyle factors contributing to the prevalence of CVDs include tobacco use, poor dietary habits, and lack of physical activity, all of which elevate the risk of heart attacks and strokes.

The comparative analysis of companies within the cardiovascular devices market categorizes it based on product offerings (including product satisfaction, features, and availability), recent market activities (such as mergers and acquisitions, new product launches, investments, collaborations, and recognitions), and geographical presence. This analysis aids businesses in making informed decisions and understanding the competitive landscape. The report delves into significant recent developments by leading vendors and innovation profiles in the global cardiovascular devices market, featuring companies like Boston Scientific Corporation, Medtronic, GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, Abbott, Johnson and Johnson Services, Inc., B. Braun Melsungen, BD, and Edwards Lifesciences Corporation.

Companies that implement unique growth strategies are likely to experience substantial success in the global cardiovascular devices market. The data highlights recent development activities and the presence of strong companies in their respective sectors. Competitive growth strategies enable vendors to align their capabilities with future growth opportunities. This includes ongoing mergers and acquisitions, geographical expansion, research and development initiatives, and the strategic launch of new products to facilitate business growth during the forecast period. The following graph illustrates the depth and breadth of vendor strategies, providing key insights for developing market penetration strategies in the global cardiovascular devices sector.

• Abbott has announced its intention to acquire Cephea Valve Technologies, Inc., a move expected to enhance Abbott's structural heart portfolio.


• Boston Scientific has introduced the Resonate family of implantable cardioverter-defibrillators (ICDs) and cardiac resynchronization therapy defibrillators (CRT-Ds), which feature the HeartLogic Heart Failure Diagnostic. These new devices incorporate SmartCRT Technology and EnduraLife Battery Technology to enhance patient management through personalized care.

Start-ups are also playing a crucial role in driving growth within the cardiovascular devices market.

The global cardiovascular devices market is categorized by device type, including electrocardiography (ECG), pacemakers, stents, defibrillators, cardiac catheters, guidewires, heart valves, event monitors, and others. In 2021, the event monitor segment commanded the largest market share. However, the ECG segment is anticipated to witness the highest CAGR of 8.0% from 2021 to 2028. By application, the market is divided into coronary heart disease, sudden cardiac arrest, stroke, cerebrovascular heart disease, and others. The coronary heart disease segment held the largest market share in 2021, while the stroke segment is expected to grow at the fastest rate during the forecast period due to an increase in aneurysms among patients. Regarding end users, the market is segmented into hospitals, cardiac centers, and ambulatory centers, with hospitals holding the largest share in 2021 and projected to grow at the highest rate in the coming years due to their numerous advantages.

Companies in the cardiovascular devices market employ various organic and inorganic strategies. Organic strategies primarily involve product launches and approvals, while inorganic strategies include acquisitions, collaborations, and partnerships. These strategies have enabled market players to expand their operations, enhance their geographical reach, and contribute to overall market growth. Notably, acquisitions and partnerships have strengthened customer bases and broadened product portfolios. Significant developments by key players in the cardiovascular devices market include:

• In January 2021, Medtronic plc launched the MyCareLink Heart mobile app, supporting the world's first portfolio of pacemakers that communicate directly with patients' smartphones and tablets, utilizing Medtronic's BlueSync technology.


• In June 2021, Abbott launched the Jot Dx, an insertable cardiac monitor (ICM) supported by SyncUP, which provides personalized training and education for patients.


• In September 2021, Abbott announced plans to acquire Cephea Valve Technologies, Inc., enhancing its structural heart portfolio.


• In January 2022, Medtronic revealed plans to acquire Affera, a developer of cardiac mapping and ablation technology, with the transaction expected to close in the first half of 2023.


• In February 2022, Abbott received FDA approval for an expanded indication for its CardioMEMS HF System, which aids in the management of heart failure.