Germany Cardiovascular Devices Market Outlook 2031
The Germany cardiovascular devices market size was USD 32.61 Billion in 2022 and is expected to reach USD 47.51 Billion by 2031 expand at a high CAGR of more than 4.27% during the forecast period, 2023–2031. Growth of the market is attributed to technological advancement and the increasing cardiovascular diseases and popularity of minimally invasive surgery.
Cardiovascular disease is a disease that affects the structure and function of organs related to heart and its prevalence is increasing dramatically. With regard to cardiovascular diseases such as peripheral arterial occlusive disease coronary artery disease, congenital heart disease, and lung disease the focus has shifted to preventive health care. Cardiovascular diseases are diagnosed with the help of cardiovascular devices which are used to control, prevent, diagnose, and treat cardiovascular or heart diseases.
Germany Cardiovascular Devices Market Trends, Drivers, Restraints, and Opportunities
- Rising incidence of cardiovascular diseases is expected to boost the market during the forecast period.
- Rapid growth of the healthcare industry due to increase in geriatric population with cardiac abnormalities is major factor fueling the market.
- Growing technological advancements and adoption of minimally invasive surgery is anticipated to drive the market during forecast period.
- High cost of cardiovascular devices such as pacemakers is expected to restrict the market growth.
- Stringent government regulations for product approval and lack of reimbursement policies act as major factor that can hamper the market growth during the forecast period.
- R&D investment and technological advancement in cardiovascular devices for minimally invasive surgery techniques and improvisation of healthcare infrastructure is projected to offer significant opportunities for the market players.
Scope of Cardiovascular Devices Market Report
The report on the Germany cardiovascular devices market includes an assessment of the market, trends, segments, and regional 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 - Germany 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] and Therapeutics and Surgical Devices [Cardiac Assist Devices, Cardiac Rhythm Management Devices, Catheter, Grafts, Stents, Heart Valves, and Others]), and End-Users (Hospitals, Ambulatory Surgery Centers, Clinics, and Others)
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Geography
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Germany
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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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Boston Scientific Corporation; Edwards Lifesciences; Abbott Laboratories; Medtronic PLC; and Cardinal Health Inc.
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Germany Cardiovascular Devices Market Segment Insights
The electrocardiogram segment is projected to account for a major market share
Based on types of devices, the cardiovascular devices market is bifurcated into diagnostic & monitoring devices and therapeutics & surgical devices. The diagnostics and monitoring segment is further sub-segmented into electrocardiogram (ECG), remote cardiac monitoring, and others. The therapeutics and surgical device segment is further sub-segmented into cardiac assist devices, cardiac rhythm management devices, catheter, grafts, stents, heart valves, and others.
The electrocardiogram segment is expected to represent a key share of the market during the forecast period. This is a common painless test used to detect heart problems and monitor your health.
Due to the increasing incidence of cardiovascular diseases that require electrocardiogram monitoring, portable compact electrocardiograms are becoming popular, especially in the field of home health care by introducing wireless ECG. It helps to monitor the patient’s condition in time and perform remote diagnosis. Therefore, Growing demand for minimally invasive surgery and technological advancement is expected to drive the market during the forecast period.
The hospital segment is anticipated to expand at a rapid CAGR
Based on end-users, the cardiovascular devices market is fragmented into hospitals, ambulatory surgery centers, clinics, and others. The hospital segment is expected to represent a key share of the market during the forecast period. The hospital segment is expected to represent a key share of the market during the forecast period.
Factors such as rising incidence of CVD, increasing number of patient visits to hospitals for diagnosis, rising number of cardiac implant operations, and availability of payment for these treatments drives the market.
Segments
The Germany cardiovascular devices market has been segmented on the basis of
Device Types
- Diagnostic and Monitoring Devices
- Electrocardiogram (ECG)
- Remote Cardiac Monitoring
- Others
- Therapeutics and Surgical Devices
- Cardiac Assist Devices
- Cardiac Rhythm Management Devices
- Catheter
- Grafts
- Stents
- Heart Valves
- Others
End-Users
- Hospitals
- Ambulatory Surgery Centers
- Clinics
- Others
Key Players
Competitive Landscape
Key players competing in the cardiovascular devices market include Boston Scientific Corporation, Edwards Lifesciences, Abbott Laboratories, Medtronic PLC, and Cardinal Health Inc.
Some of these players are using several market strategies including/such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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