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Forecasts indicate that the cardiac medical device market will expand from an initial valuation of USD 59,100.10 million in 2023 to a total value of USD 99,349.94 million in 2031, a strong compound annual growth rate (CAGR) of 7.8 percent.
Medical devices that are designed to be used in the diagnosis, treatment, and monitoring of cardiovascular illnesses are known as cardiology devices. A few examples of cardiovascular medical devices are angioplasty balloon catheters, endovascular grafts, coronary stents, and mechanical heart valves. In patients with certain heart rhythm abnormalities or heart failure, the cardiac devices are made to make it easier to monitor and control irregular heartbeats.
By electrically stimulating the heart to maintain a regular and not too slow rhythm, cardiology devices like pacemakers greatly improve patients' quality of life. The use of such devices is common in the treatment of cardiac arrhythmias, coronary artery disease, and other associated conditions.
Major companies in the cardiac medical device sector are pouring a lot of money into research and development of new cardiac medical devices so they can expand their product offerings. This means that makers of cardiac medical devices, who are present on a worldwide scale, are always making the most of their technological capabilities to come up with fresh approaches that incorporate innovative technological developments.
Consequently, the market for cardiac medical devices is expanding due to the introduction of new products that incorporate improved technologies. As an example, new cardiac medical devices based on technology were created in February 2023 by Ceryx Medical Limited in collaboration with the Universities of Bath and Bristol and Auckland Bioengineering Institute (ABI). Patients with significant heart diseases may have a better prognosis if they use Cysoni devices. As a result, the worldwide cardiac medical device market is experiencing strong growth due to the proliferation of innovative technological advancements in this field.
Advanced cardiac medical device design, development, and manufacturing is a difficult, time-consuming, and investment-intensive process for manufacturers. Because of these reasons, cardiac medical devices are more expensive. Also, patients may be quite vulnerable to the risks associated with cardiac medical devices. This is why organizations like the International Medical Device Regulators Forum conduct extensive evaluations and inspections of cardiac medical devices (IMDRF). As an example, the medical device regulation (MDR) in the European Union (EU) is very strict, and every cardiac medical device used in the EU must adhere to these rules. One potential obstacle for the market in the next years could be the high price tag and strict restrictions linked to cardiac medical equipment.
Numerous small and medium-sized enterprises (SMEs) compete fiercely with a handful of major players in the cardiac medical device sector. These corporations dominate their industries with robust product lines and well-established distribution networks, and they excel at research and development. There is a lot of rivalry in the market, and businesses are trying to outdo each other by releasing more products and boosting their market share through strategic alliances and mergers.
Report Coverage
Global Cardiac Medical Device research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cardiac Medical Device report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cardiac Medical Device competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Cardiac Medical Device market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Cardiac Medical Device market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cardiac Medical Device market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Boston Scientific Corporation, Abbott, Medtronic, Cardinal Health, General Electric (GE Healthcare), W. L. Gore & Associates, Inc., Biotronik, Siemens Healthcare GmbH, Canon Medical Systems Corporation, and B. Braun SE
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Cardiac Medical Device market based on the below-mentioned segments:
Global Cardiac Medical Device Market, By Product Type
Diagnostic
Monitoring
ECG
Holter Monitors
Event Monitors
Therapeutic
Surgical Devices
Pacemakers
Stents
Catheters
Accessories
Global Cardiac Medical Device market, By Application
Cardiac Arrhythmia
Coronary Artery Disease
Heart Failure and Others
Global Cardiac Medical Device Market, By End User
Hospitals
Clinics
Diagnostic Centers
and Others
Global Cardiac Medical Device market, Regional Analysis
Medical devices that are designed to be used in the diagnosis, treatment, and monitoring of cardiovascular illnesses are known as cardiology devices. A few examples of cardiovascular medical devices are angioplasty balloon catheters, endovascular grafts, coronary stents, and mechanical heart valves. In patients with certain heart rhythm abnormalities or heart failure, the cardiac devices are made to make it easier to monitor and control irregular heartbeats.
By electrically stimulating the heart to maintain a regular and not too slow rhythm, cardiology devices like pacemakers greatly improve patients' quality of life. The use of such devices is common in the treatment of cardiac arrhythmias, coronary artery disease, and other associated conditions.
Major companies in the cardiac medical device sector are pouring a lot of money into research and development of new cardiac medical devices so they can expand their product offerings. This means that makers of cardiac medical devices, who are present on a worldwide scale, are always making the most of their technological capabilities to come up with fresh approaches that incorporate innovative technological developments.
Consequently, the market for cardiac medical devices is expanding due to the introduction of new products that incorporate improved technologies. As an example, new cardiac medical devices based on technology were created in February 2023 by Ceryx Medical Limited in collaboration with the Universities of Bath and Bristol and Auckland Bioengineering Institute (ABI). Patients with significant heart diseases may have a better prognosis if they use Cysoni devices. As a result, the worldwide cardiac medical device market is experiencing strong growth due to the proliferation of innovative technological advancements in this field.
Advanced cardiac medical device design, development, and manufacturing is a difficult, time-consuming, and investment-intensive process for manufacturers. Because of these reasons, cardiac medical devices are more expensive. Also, patients may be quite vulnerable to the risks associated with cardiac medical devices. This is why organizations like the International Medical Device Regulators Forum conduct extensive evaluations and inspections of cardiac medical devices (IMDRF). As an example, the medical device regulation (MDR) in the European Union (EU) is very strict, and every cardiac medical device used in the EU must adhere to these rules. One potential obstacle for the market in the next years could be the high price tag and strict restrictions linked to cardiac medical equipment.
Numerous small and medium-sized enterprises (SMEs) compete fiercely with a handful of major players in the cardiac medical device sector. These corporations dominate their industries with robust product lines and well-established distribution networks, and they excel at research and development. There is a lot of rivalry in the market, and businesses are trying to outdo each other by releasing more products and boosting their market share through strategic alliances and mergers.
Report Coverage
Global Cardiac Medical Device research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cardiac Medical Device report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cardiac Medical Device competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Cardiac Medical Device market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Boston Scientific Corporation, Abbott, Medtronic, Cardinal Health, General Electric (GE Healthcare), W. L. Gore & Associates, Inc., Biotronik, Siemens Healthcare GmbH, Canon Medical Systems Corporation, and B. Braun SE |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Cardiac Medical Device Market from 2021 to 2031.
- Market Forecast for Cardiac Medical Device Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Cardiac Medical Device competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Cardiac Medical Device
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Cardiac Medical Device market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cardiac Medical Device market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Boston Scientific Corporation, Abbott, Medtronic, Cardinal Health, General Electric (GE Healthcare), W. L. Gore & Associates, Inc., Biotronik, Siemens Healthcare GmbH, Canon Medical Systems Corporation, and B. Braun SE
Primary Target Market
- Market Players of Cardiac Medical Device
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Cardiac Medical Device market based on the below-mentioned segments:
Global Cardiac Medical Device Market, By Product Type
Diagnostic
Monitoring
ECG
Holter Monitors
Event Monitors
Therapeutic
Surgical Devices
Pacemakers
Stents
Catheters
Accessories
Global Cardiac Medical Device market, By Application
Cardiac Arrhythmia
Coronary Artery Disease
Heart Failure and Others
Global Cardiac Medical Device Market, By End User
Hospitals
Clinics
Diagnostic Centers
and Others
Global Cardiac Medical Device market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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