Cardiovascular Device Market Size, Share, Trends, Industry Analysis Report: By Device Type, Application, End Use (Hospitals, Ambulatory Surgical Centers, and Specialty Clinics), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034
- Published Date:Mar-2025
- Pages: 125
- Format: PDF
- Report ID: PM4534
- Base Year: 2024
- Historical Data: 2020-2023
Cardiovascular Device Market Overview
The global cardiovascular device market size was valued at USD 57.35 billion in 2024. The industry is projected to grow from USD 62.05 billion in 2025 to USD 128.23 billion by 2034, exhibiting a CAGR of 8.4% during 2025–2034.
A cardiovascular device is a medical instrument or implant used to diagnose, treat, or manage heart and blood vessel-related conditions. These devices include pacemakers, stents, heart valves, and defibrillators, all designed to improve heart function and prevent or manage cardiovascular diseases.
The growing prevalence of cardiovascular diseases (CVDs) worldwide is driving the cardiovascular device market demand. Aging populations, unhealthy lifestyles, poor diets, and increasing obesity rates are fueling the rising number of individuals affected by heart-related conditions. Various cardiovascular devices such as pacemakers, stents, and heart valves are essential for treating and managing conditions such as heart failure, arrhythmias, and coronary artery disease. The surge in CVD cases compels healthcare providers to explore innovative solutions to diagnose, treat, and manage these conditions more effectively, thereby driving the cardiovascular devices market development.
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Technological innovations have improved the performance and accessibility of cardiovascular devices. Minimally invasive techniques, such as robotic-assisted surgery, reduce trauma during procedures and promote quicker recovery times for patients. Additionally, new product launches with the integration of AI in diagnostics and monitoring are improving treatment outcomes. In June 2024, AliveCor launched the Kardia 12L ECG System, featuring AI-powered technology, which detects 35 cardiac conditions using a reduced lead, revolutionizing cardiac care. These developments make devices more effective, safer, and user-friendly, boosting demand for advanced cardiovascular technologies and thereby driving the cardiovascular device market growth.
Cardiovascular Device Market Dynamics
Increase in Government Investments in Healthcare Infrastructure
Many countries are investing heavily in improving healthcare infrastructure and improving care for their populations. According to the US Centers for Medicare & Medicaid Services, in 2023, the US alone invested USD 4.9 trillion in healthcare infrastructure. These increased allocation of funds to medical advancements supports hospitals and clinics to purchase high-quality, state-of-the-art cardiovascular devices. Additionally, higher healthcare spending also facilitates the widespread adoption of these devices, including in developing regions. Thus, increasing investments from governments and private sectors in healthcare infrastructure contribute to the cardiovascular device market development.
Growing Ageing Population
A large portion of the global population is aged 65 years and above. Longer life expectancy increases susceptibility to heart-related conditions, resulting in a higher demand for cardiovascular interventions. Older individuals face a greater risk of developing diseases such as coronary artery disease, heart failure, and arrhythmias and require devices such as pacemakers, stents, and defibrillators. The growing elderly population is driving the demand for these devices, thereby driving the cardiovascular device market growth.
Cardiovascular Device Market Segment Analysis
Cardiovascular Device Market Assessment by Device Type Outlook
The cardiovascular device market segmentation, based on device type, includes diagnostics and monitoring devices, and therapeutic and surgical devices. The diagnostics and monitoring devices segment is expected to witness the fastest growth rate during the forecast period due to the increasing need for early detection and continuous monitoring of heart-related conditions. Devices such as ECG monitors, cardiac stress testing equipment, and wearable heart monitors are becoming advanced, allowing for better and more accurate diagnosis of cardiovascular diseases. Additionally, with a growing focus on preventative care and managing chronic heart conditions, healthcare providers are increasingly adopting diagnostic and monitoring devices, thereby driving the global cardiovascular device market growth for the segment.
Cardiovascular Device Market Evaluation by End User Outlook
The cardiovascular device market segmentation, based on end user, includes hospitals, ambulatory surgical centers, and specialty clinics. The hospitals segment dominated the cardiovascular device market share in 2024 due to the high number of patients visiting hospitals for heart-related treatments. Hospitals are the primary healthcare settings where patients suffering from severe cardiovascular conditions receive critical care and interventions, such as surgeries, stent placements, and pacemaker installations. The large patient footfall in hospitals drives the demand for advanced cardiovascular devices, as hospitals are equipped with the necessary infrastructure and specialists to handle complex cardiovascular diseases.
Cardiovascular Device Market Regional Insights
By region, the study provides the cardiovascular device market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2024, North America dominated the cardiovascular device market revenue share due to the presence of a large number of hospitals equipped with advanced medical technologies. According to the American Hospital Association, the USA boasts a wide network of hospitals, accounting for 6,120 hospitals in total as of 2023. These hospitals often invest in the latest cardiovascular devices, ensuring they offer the best care to patients. Additionally, the high prevalence of heart disease in North America, along with the increasing adoption of innovative technologies, is contributing to the North America cardiovascular device market expansion.
Asia Pacific is expected to record a significant share of the global cardiovascular device market during the forecast period, driven by an increase in heart disease cases and advancements in healthcare infrastructure. Countries such as China, Japan, and South Korea are expanding their healthcare systems, making state-of-the-art cardiovascular technologies more accessible. Additionally, rising healthcare spending and improved medical access in urban and rural areas are boosting demand for these cardiovascular devices, thereby driving the Asia Pacific cardiovascular device market expansion.
India's cardiovascular device market is experiencing substantial growth due to a higher incidence of heart diseases and an aging population. Improvements in healthcare infrastructure have made advanced cardiovascular treatments more widely available in hospitals across the country. Growing awareness of heart health and increased access to affordable healthcare services fuel the demand for devices such as stents, pacemakers, and heart valves. Additionally, the large population and expanding middle class are further contributing to the India market growth.
Cardiovascular Device Market – Key Players & Competitive Analysis Report
The cardiovascular device market is constantly evolving, with numerous companies striving to innovate and distinguish themselves. Leading global corporations dominate the market by leveraging extensive research and development, and advanced techniques. These companies pursue strategic initiatives such as mergers and acquisitions, partnerships, and collaborations to enhance their product offerings and expand into new markets.
New companies are impacting the cardiovascular device industry by introducing innovative products to meet the demand of specific market sectors. This competitive environment is amplified by continuous progress in product offerings. Major players in the cardiovascular device market include Abbott Laboratories; B. Braun Melsungen AG; Biotronik SE & Co.KG; Boston Scientific Corporation; C. R. Bard, Inc.; Cook Medicals; Lepu Medicals; Liaoning Biomedical Materials; Medtronic Plc; Meril Life Sciences; MicroPort Scientific Corporation; Terumo Corporation; Translumina GmbH; Vascular Concepts; Jude Medical, Inc.; and Edward lifesciences corporation.
Medtronic plc is a global medical technology company established in 1949, with operational headquarters in Minneapolis, Minnesota, and legal headquarters in Dublin, Ireland. The company employs over 95,000 individuals and operates in more than 150 countries, focusing on the development of healthcare technologies and therapies for chronic diseases, particularly in cardiovascular health, diabetes management, and neurological disorders. The company is organized into four primary business segments—cardiovascular, medical-surgical, neuroscience, and diabetes. The cardiovascular portfolio is a significant part of Medtronic's operations and includes a variety of products aimed at addressing heart conditions. This segment features cardiac rhythm management devices such as pacemakers and implantable cardioverter-defibrillators (ICDs), as well as structural heart therapies for valve disorders. Additionally, it provides solutions for coronary and peripheral vascular diseases through stents and angioplasty systems. Medtronic has a history of innovation in cardiac care, having developed the first implantable pacemaker. The medical-surgical portfolio focuses on technologies for various surgical specialties, including respiratory and gastrointestinal procedures. Medtronic operates across a diverse global market with a significant presence in North America, Europe, Asia Pacific, the Middle East, and Africa. Its products are used in hospitals and healthcare facilities worldwide, contributing to patient care and healthcare delivery systems.
Boston Scientific Corporation is a medical technology company founded in 1979 and headquartered in Marlborough, Massachusetts. The company operates in over 100 countries. Its focus is on developing medical devices that address various health conditions across multiple specialties, including cardiovascular, urology, endoscopy, and pain management. Boston Scientific is organized into several business segments, which include cardiovascular, rhythm management, MedSurg, and neuromodulation. The cardiovascular segment includes a range of products aimed at treating heart conditions. This encompasses drug-eluting stents, such as the TAXUS and SYNERGY Stent Systems, which are used in procedures for coronary artery disease. The segment also covers devices for electrophysiology, including implantable cardioverter-defibrillators (ICDs) and cardiac resynchronization therapy (CRT) devices. Additionally, Boston Scientific develops technologies for structural heart interventions, focusing on minimally invasive approaches to valve repair and replacement. The MedSurg segment provides products for various surgical applications, particularly in gastrointestinal and urological procedures. The rhythm management segment focuses on devices for managing cardiac arrhythmias, while the neuromodulation segment addresses chronic pain through various therapeutic solutions. Boston Scientific has a global presence with operations in North America, Europe, Asia Pacific, and Latin America. Its manufacturing facilities are located in the US, Ireland, Costa Rica, and Malaysia. The company utilizes an extensive distribution network to ensure its products reach healthcare providers worldwide.
List of Key Companies in Cardiovascular Device Market
- Abbott Laboratories
- B. Braun Melsungen AG
- Biotronik SE & Co.KG
- Boston Scientific Corporation
- C. R. Bard, Inc.
- Cook Medicals
- Edward lifesciences corporation
- Jude Medical, Inc.
- Lepu Medicals
- Liaoning Biomedical Materials
- Medtronic Plc
- Meril Life Sciences
- MicroPort Scientific Corporation
- Terumo Corporation
- Translumina GmbH
- Vascular Concepts
Cardiovascular Devices Industry Developments
In October 2024, The FARAWAVE NAV Ablation Catheter and FARAVIEW Software were launched by Boston Scientific, receiving FDA approval and enhancing the FARAPULSE PFA System with advanced navigation and visualization for AF treatments.
In January 2024, Cleerly launched Cleerly ISCHEMIA software, FDA-cleared for heart disease analysis. The AI-driven tool helps diagnose coronary artery disease by analyzing coronary CT angiography images for ischemia detection.
Cardiovascular Device Market Segmentation
By Device Type Outlook (Revenue USD Billion, 2020–2034)
- Diagnostic and Monitoring Devices
- Electrocardiogram
- Remote Cardiac Monitoring
- MRI
- Others
- Therapeutic and Surgical Devices
- Ventricular Assist Devices
- Cardiac Rhythm Management Devices
- Catheter
- Stents
- Others
By Application Outlook (Revenue USD Billion, 2020–2034)
- Heart Failure
- Cardiac Arrhythmia
- Coronary Artery Disease
- Others
By End Use Outlook (Revenue USD Billion, 2020–2034)
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
By Regional Outlook (Revenue USD Billion, 2020–2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Cardiovascular Device Market Report Scope
|
Report Attributes |
Details |
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Market Size value in 2024 |
USD 57.35 billion |
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Market Size value in 2025 |
USD 62.05 billion |
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Revenue Forecast by 2034 |
USD 128.23 billion |
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CAGR |
8.4% from 2025 to 2034 |
|
Base Year |
2024 |
|
Historical Data |
2020–2023 |
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Forecast Period |
2025–2034 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
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Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The cardiovascular device market size was valued at USD 57.35 billion in 2024 and is projected to grow to USD 128.23 billion by 2034.
The global market is projected to register a CAGR of 8.4% during the forecast period.
North America held the largest share of the global market in 2024.
A few key players in the market are Abbott Laboratories; B. Braun Melsungen AG; Biotronik SE & Co.KG; Boston Scientific Corporation; C. R. Bard, Inc.; Cook Medicals; Lepu Medicals; Liaoning Biomedical Materials; Medtronic Plc; Meril Life Sciences; MicroPort Scientific Corporation; Terumo Corporation; Translumina GmbH; Vascular Concepts; Jude Medical, Inc.; and Edward Lifesciences Corporation.
The hospital segment dominated the market in 2024 due to the large number of footfall of patients in hospital settingsdevice type, application, end-use, and region.
The diagnostics and monitoring device segment is expected to witness the fastest growth during the forecast period due to the rising focus on preventive healthcare.
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