China Cardiovascular Devices Market Outlook 2031:
The China cardiovascular devices market size was valued at USD 2.68 Billion in 2022 and is projected to reach USD 4.45 Billion by 2031, expanding at a CAGR of 5.59% during the forecast period 2023 - 2031. The growth of the market is attributed to growing geriatric population.
Cardiovascular diseases are a significant reason for mortality and morbidity all over the world. Cardiovascular diseases are infections related to the heart and blood vessels and include coronary heart disease, rheumatic heart disease, cerebrovascular disease, and other heart conditions.
Some of the main factors that lead to the prevalence of cardiovascular disease are the utilization of tobacco, physical inactivity, and unhealthy diet, which can raise the risk of heart attacks and strokes. High blood pressure, increased level of cholesterol levels, and diabetes also cause cardiovascular diseases. China’s quickly aging population requires more cardiovascular devices.
More than 19.8 million patients right now have coronary artery disease in China. Progressively, more sophisticated interventional cardiovascular gadgets are being utilized in lieu of heart surgeries to treat cardiac diseases in China.
Cardiovascular Devices Market Trends, Drivers, Restraints, and Opportunities
- Increasing number of emergency hospitals with medical devices & surgical equipment is expected to boost the cardiovascular devices market.
- Rising prevalence of respiratory disorder is one of the key factors fueling the market growth.
- Growing preference for minimally invasive devices is projected to drive the market growth.
- Increasing number of patients suffering from cardiovascular diseases is expected to boost the market.
- Rapid technological advancements in wearable cardiac devices is expected to boost the cardiovascular devices market.
- Growing pollution level is estimated to accelerate the growth of the market.
- Increasing technological innovation in developed countries are key factors driving the market growth.
- High cost of cardiovascular devices can restrain the growth of the market.
- Government initiatives for the launch and approval of these cardiovascular disorders is expected to create lucrative opportunities for the cardiovascular devices market.
Scope of the Cardiovascular Devices Market Report
The report on the cardiovascular devices market includes an assessment of the market, trends, segments, and geography markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Cardiovascular devices Market – China Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Device Types (Diagnostic and Monitoring Devices, [Electrocardiogram (ECG), Remote Cardiac Monitoring and Others], Therapeutic and Surgical Devices [Cardiac Assist Devices, Cardiac Rhythm Management Device, Catheter, Grafts, Heart Valves, Stents and Others])
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Country Scope
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China
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Abbott Laboratories; Lepu Medical Technology (Beijing) Co. Ltd; Terumo Corporation; Boston Scientific Corporation and Medtronic PLC.
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Cardiovascular Devices Market Segment Insights
Electrocardiogram (ECG) segment is expected to grow at a rapid pace
Based on types, the market is divided into diagnostic and monitoring devices, therapeutic and surgical devices. The diagnostic and monitoring devices segment is further classified as electrocardiogram (ECG), remote cardiac monitoring and others. The therapeutic and surgical devices is further segmented into cardiac assist devices, cardiac rhythm management device, and catheter, grafts, heart valves, stents, and others.
The electrocardiogram (ECG) sub-segment is estimated to account for a significant share of the market. Advancement in ECG devices coupled with introduction of remote monitoring devices is expected to grow at a rapid pace in the market. Additionally, event monitors enable data storage, which is pushing the penetration of these systems in point-of-care applications.
Segments
The cardiovascular devices market has been segmented on the basis of
Types
- Diagnostic and Monitoring Devices
- Electrocardiogram (ECG)
- Remote Cardiac Monitoring
- Others
- Therapeutic and Surgical Devices
- Cardiac Assist Devices
- Cardiac Rhythm Management Device
- Catheter
- Grafts
- Heart Valves
- Stents
- Others
Country
Key Players
Competitive Landscape
Key players competing in the cardiovascular devices market are Abbott Laboratories; Lepu Medical Technology (Beijing) Co. Ltd; Terumo Corporation; Boston Scientific Corporation and Medtronic PLC.
In June 2021, Cardiovascular Systems, Inc. introduced OrbusNeich JADE percutaneous transluminal angioplasty (PTA) over-the-wire balloon catheters.
In October 2019, iRhythm, a digital healthcare organization, launched its Zio system in the UK for clinical findings of cardiac arrhythmias, such as atrial fibrillation (AF). The Zio system is a small wearable heart monitor that attaches to the patient’s chest for a time of as long as 14 days. With the fast speed of innovative advancements in cardiac monitoring and diagnostic gadgets, the future of cardiovascular devices looks promising.
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