Global Cardiac Medical Device Market growing at a CAGR of 6.8 % from 2023 to 2030
Category : Pharmaceuticals And Healthcare | Published Date : May 2023
Key Market Overview
Consegic Business Intelligence analyzes that the cardiac medical device market is predicted to grow at a compound annual growth rate of 6.8% from 2023 to 2030 and is expected to reach USD 99,349.84million in 2030 which was valued at USD 59,100.00 Million in 2022.
The report highlights the increasing adoption of cardiac medical devices for coronary artery disease, which is proliferating the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the cardiac medical device market.
Global Cardiac Medical Device Market By Overview
The Cardiac Medical Device market is bifurcated into product type, application, and end user. Based on product type the market is segmented into diagnostic & monitoring (ECG, holter monitors, event monitors, and others) and therapeutic & surgical devices (pacemakers, stents, catheters & accessories, and others)), in 2022, the therapeutic & surgical devices segment dominate in the overall cardiac medical device market. The application segment is categorized into cardiac arrhythmia, coronary artery disease, heart failure, and others. In 2022, the coronary artery disease segment accounted for the highest market share in the cardiac medical device market. The end user segment is categorized into hospitals, clinics, diagnostic centers, and others. In 2022, the hospital segment accounted for the highest market share in the cardiac medical device market.
Get Free SampleMarket Dynamics
Driver:
- Rising technological innovations associated with cardiac medical devices is accelerating the market growth.
- The increasing prevalence of cardiovascular disease is boosting the market growth
Restraints:
- High cost and stringent regulations associated with cardiac medical devices are posing a bottleneck for market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Product Type | Diagnostic & Monitoring (ECG, Holter Monitors, Event Monitors, and Others) and Therapeutic & Surgical Devices (Pacemakers, Stents, Catheters & accessories, and Others) |
| By Application | Cardiac Arrhythmia, Coronary Artery Disease, Heart Failure, and Others |
| By End User | Hospitals, Clinics, Diagnostic Centers, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Boston Scientific Corporation, Abbott, Medtronic, and Cardinal Health which have a strong market position in current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more durable, ensure superior functioning, and are cost-effective. Furthermore, the cardiac medical device market is expected to witness substantial growth in the coming years due to the growing investment in heart care hospitals in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- 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