The global cardiovascular devices market is projected to exhibit a significant growth, at a CAGR of around 6.1%, during the forecast period. The increasing prevalence of CVD has led to the development of technologically advanced cardiovascular devices. The current trend in cardiovascular devices includes a range of innovative diagnostic devices, such as portable monitors, wearables, telemetry, and remote patient monitoring. The companies operating in the cardiovascular devices market are continuously driving their strength towards the launch of innovative cardiovascular devices. For instance, in May 2019, Abbott Laboratories launched a next generation cardiac heart monitor. The devices have received approval from both, FDA approval in US and CE mark in Europe.
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Such innovations will increase the diagnostic accuracy, smaller devices, easier application, and relatively more portable. Moreover, the stents and catheters are now widely used to remove the blockage in arteries. Nowadays, the catheters are deployed with the certain type of sensors, such as pressure sensors and force sensors for the evaluation of conducting gaps during the process of catheterization. These sensors assist in a certainly great way, which in turn, makes the surgical procedure relatively easy for the surgeons. Therefore, there are several market players which have started the development of novel and technologically advanced sensors in the cardiovascular devices market. For instance, Abbott Laboratories, Inc. received a CE mark for TactiCath CF Ablation Catheter, a sensor-enabled system. This is designed to make the procedure easier for physicians to treat AF more effectively. Some of the other launches in cardiovascular devices includes-
- In February 2020, VitalConnect, Inc. launched wearable biosensor technology for the detection of arrhythmia via its remote patient monitoring portfolio. The company partnered with the CorVitals, Inc. for the offering of the device to physicians, which enables the monitor, diagnosis, and treatment of patients with various heart conditions.
- In January 2020, Biotronik, Inc. announced a launch of injectable cardiac monitor, Biomonitor III in Japan. This monitor will assist patients suffering with irregular heart rhythms via the documentation of unexplained syncope and relatively increased clarity.
- In August 2019, the US FDA announced the approval for Barostim Neo System that can improve the symptoms of advanced heart failure in patients who are relatively not suited for treatment with several other heart failure devices, which includes cardiac resynchronization therapy. A breakthrough device designation is given to the device by the FDA, as it can treat life-threatening diseases, such as heart failure. Therefore, it offers advanced treatment solution to patients who fail to get cured with the standard treatment methods and have at last no alternative treatment option.
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Cardiovascular Devices Market Segmentation
By Type
- Diagnostic and Monitoring Devices
- MRI
- Electrocardiogram (ECG)
- Remote Cardiac Monitoring
- Cardiac CT
- Others (PET scan)
- Surgical Devices
- Stents
- Catheters
- Cardiac Assist Devices
- Cardiac Rhythm Management Device
- Others (Heart Valves and Grafts)
Regional Analysis
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
