Global Cardiac Medical Device Market to Reach USD 99,349.84 Million by 2030 | CAGR of 6.8%
Category : Healthcare | Published Date : Nov 2024 | Type : Press Release
Cardiac Medical Device Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Cardiac Medical Device Market size was valued at USD 59,102.23 Million in 2022 and is projected to reach USD 99,353.69 Million by 2030, growing at a CAGR of 6.8% from 2023 to 2030. Cardiac medical devices are essential for diagnosing, treating, and monitoring cardiovascular diseases, including coronary artery diseases and arrhythmias. These devices encompass a wide range of equipment, such as pacemakers, stents, and monitoring systems, which aid in the management and treatment of heart-related conditions.
The report comprises the Cardiac Medical Device Market Share, Size & Industry Analysis, By Product Type (Diagnostic & Monitoring Devices (ECG, Holter Monitors, Event Monitors, Others), Therapeutic & Surgical Devices (Pacemakers, Stents, Catheters & Accessories, Others)), By Application (Cardiac Arrhythmia, Coronary Artery Disease, Heart Failure, Others), By End User (Hospitals, Clinics, Diagnostic Centers, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2023–2030.
The report contains detailed information on Cardiac Medical Device Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Rising incidence of cardiovascular diseases coupled with technological advancements in cardiac devices are driving market growth, while high device costs and stringent regulatory requirements act as barriers to expansion.
Segmental Analysis :
By product type, the market is segmented into diagnostic & monitoring devices and therapeutic & surgical devices.
- Therapeutic & Surgical Devices accounted for the largest market share in 2022 due to their significant use in treating critical cardiac conditions.
- Diagnostic & Monitoring Devices are expected to grow at the fastest CAGR, driven by increased demand for accurate diagnostics and real-time heart health monitoring.
By application, the market is categorized into cardiac arrhythmia, coronary artery disease, heart failure, and others.
- Coronary Artery Disease held the highest market share of 41.05% in 2022, attributed to its high prevalence and the need for effective treatment options.
- Heart Failure is projected to grow at the fastest CAGR, supported by the rising cases of heart-related conditions requiring advanced therapeutic devices.
By end user, the market is divided into hospitals, clinics, diagnostic centers, and others.
- Hospitals dominated the market in 2022, driven by the availability of advanced cardiac care facilities and a high volume of procedures.
- Diagnostic Centers are anticipated to register the fastest growth, owing to the increased adoption of advanced diagnostic technologies and higher patient footfall.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America held the largest market share in 2022, supported by a high prevalence of heart diseases and an advanced healthcare infrastructure.
- Asia-Pacific is expected to witness the highest CAGR, driven by increasing investments in healthcare infrastructure and growing demand for cardiac devices in countries like China, India, and Japan.
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 99,353.69 Million |
| CAGR (2023-2030) | 6.8% |
| By Product Type | Diagnostic & Monitoring Devices (ECG, Holter Monitors, Event Monitors, Others), Therapeutic & Surgical Devices (Pacemakers, Stents, Catheters & Accessories, Others) |
| By Application | Cardiac Arrhythmia, Coronary Artery Disease, Heart Failure, Others |
| By End-User | Hospitals, Clinics, Diagnostic Centers, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The cardiac medical device market features strong competition, with companies focusing on innovation, product expansion, and strategic partnerships.
List of prominent players in the Cardiac Medical Device Industry:
- Boston Scientific Corporation
- Abbott
- Medtronic
- Cardinal Health
- General Electric (GE Healthcare)
- W. L. Gore & Associates, Inc.
- Biotronik
- Siemens Healthcare GmbH
- Canon Medical Systems Corporation
- B. Braun SE
Recent Industry Developments :
- In December 2022, Abbott introduced a new minimally invasive device aimed at improving heart valve treatment outcomes in India.
- In February 2021, Remo Care Solutions launched an AI-driven remote monitoring device for cardiac patients, enhancing real-time cardiovascular assessments.
- In December 2020, Philips acquired BioTelemetry, Inc., integrating its patient monitoring services with advanced cardiac diagnostics.
