Cardiovascular device market trends
To provide the market share of the different segments of the cardiovascular market and determine trends driving growth in the industry as well as innovations disrupting the market.
- The global cardiovascular device market is expected to grow to $69.08 billion by 2026 at a CAGR of 6.8%. This means that the market was worth roughly $43.5 billion in 2019.
- The market is broken down into diagnostic and monitoring devices and surgical devices. The surgical devices segment is further broken down into pacemakers
, electrosurgical Procedures
, and occlusion devices.
- The growth in the cardiovascular device market will be driven by the "increasing demand of portable heart monitoring devices, rising adoption of transcatheter aortic valve replacement (TAVR) procedure, and increasing use of bioresorbable stents."
Vascular Grafts Market
- While information about vascular grafts is available, we were not able to find anything on cardiovascular grafts. As such, we have provided the market size and growth of the vascular grafts market.
- The global vascular grafts market is expected to reach $3.3 billion by 2026, growing at a CAGR of 6.4%. Using a Reverse CAGR calculator, we estimated that the 2019 market size of the segment was $2.15 billion.
- This would mean that the vascular grafts devices accounted for 4.94% ($2.15 billion / $43.5 billion x 100) of the cardiovascular device market.
- The vascular graft market growth is mainly driven by the "increasing prevalence of cardiovascular aneurysms", with polytetrafluoroethylene (PTFE) raw materials predicted to register the biggest growth in the segment.
Cardiovascular Stents Market
- The global cardiovascular stents market is projected to reach $13.1 billion by 2025, growing at a CAGR of 6.6%. Using a Reverse CAGR calculator, we were able to estimate that the 2019 market size of the segment was $8.91 billion.
- This means that the cardiovascular stents market constitutes 20.5% ($8.91 billion / $43.5 billion x 100) of the cardiovascular device market.
- The segment will be driven by the rise in lifestyle-related heart diseases such as obesity and artherosclerosis as well as the introduction of innovative devices such as bioresorbable stents and bioengineered stents.
- The global pacemaker market was valued at $5.6 billion in 2016, growing at a CAGR of 7.2% until 2025. Using a Reverse CAGR calculator we were able to estimate that the sector generated $6.9 billion in revenue in 2019.
- This means that the pacemaker market constituted 15.86% ($6.9 billion / $43.5 billion x 100) of the cardiovascular device market in 2019.
- The high availability of reimbursement for implantation of pacemakers as well as the "technological advancements in cardiac pacemakers such as dynamic pacemaking technology, transitional tissue welding, and microprocessor-controlled devices" are the two factors driving the growth in the market.
Prosthetic Heart Valve Market
- The global prosthetic heart valve market will reach $8.86 billion in 2022, growing at a CAGR of 12.9% until 2025. Using a Reverse CAGR calculator we were able to estimate that the sector generated $6.17 billion in revenue in 2019.
- This means that the Prosthetic Heart Valve market constituted 14.2% ($6.17 billion / $43.5 billion x 100) of the cardiovascular device market in 2019.
- The growth is driven by the "rising geriatric population and the subsequent increase in the prevalence of HVD, regulatory approvals for new and advanced prosthetic heart valves, increasing government funding for heart valve research, rising awareness about HVD, and favorable reimbursement scenario for prosthetic heart valves."
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