Germany Cardiovascular Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.60 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Germany Cardiovascular Devices Market Analysis
The Germany Cardiovascular Devices Market is expected to register a CAGR of 5.6% during the forecast period.
The COVID-19 pandemic severely impacted the cardiovascular devices market as there was a disruption in supply chain management, and cardiac surgeries were on hold impacting the cardiovascular devices employed in the diagnosis and surgical procedure. For instance, an article titled "COVID-19: retrospective analysis of cardiac surgery capacity in German heart centers" published in the European Heart Journal in August 2022 stated that on 1 January 2020, in 53 German cardiac surgery departments 800 intensive care beds were allocated. This capacity was reduced to 595 beds in April 2021 by a 25.6% decrease. As a result, the number of operating rooms for cardiac surgery procedures was reduced from 207 to 152 (-26.9%) during the first two lockdowns. As elective surgeries and diagnostics were reduced, the pandemic adversely impacted cardiovascular devices used to treat and diagnose cardiovascular diseases.
In addition, the increasing burden of cardiovascular diseases and increased preference for minimally invasive procedures are actively affecting the growth of the studied market. As per the German Heart Surgery Report 2021 statistics, in 2021, there are about 161,261 cardiac procedures performed in Germany, out of 36,714 heart valve procedures and 19,490 are pacemaker and ICD-related procedures. Such a high number of cardiac procedures increases the demand for cardiovascular devices in Germany.
The technological advancements in cardiovascular devices, launches, partnerships, and acquisitions by key market players in Germany are likely to boost the studied market growth over the forecast period. For instance, in August 2022, AIBODY, one of the world's first Physiology-as-a-Service platforms, collaborated with the German Heart Centre Berlin (DHZB), a medical research institute specializing in cardiovascular disease. The collaboration is focused on the creation of cutting-edge solutions that will simplify congenital heart disease diagnosis and care. These initiatives are projected to augment the growth of cardiovascular devices in Germany.
Also, in October 2021, ReCor Medical Launched the Paradise Ultrasound Renal Denervation for the Treatment of Hypertension in Germany. The product launches and partnerships are likely to boost cardiovascular devices' growth in the country.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. however, stringent regulatory policies are likely to impede the market growth.
Germany Cardiovascular Devices Market Trends
This section covers the major market trends shaping the Germany Cardiovascular Devices Market according to our research experts:
Catheter is Expected to Dominate the Cardiovascular Devices Market Over the Forecast Period
A catheter is a thin, flexible tube that is guided through a blood vessel to the heart to diagnose or treat certain heart conditions, such as clogged arteries or irregular heartbeats. The segment is expected to observe good growth due to the increasing burden of cardiovascular, diseases, increasing usage of minimally invasive procedures, and the rising demand for antimicrobial catheters.
The article titled "Epidemiology of heart failure" published in the European Journal of Heart Failure in June 2020 stated that the estimated prevalence of heart failure in Germany based on health care claims data of over 3 million inhabitants was 4% for both men and women. The high burden of heart-related diseases is expected to augment the segment's growth in the coming years.
The rising advancements in cardiac catheters, approvals, launches, partnerships, and acquisitions by the key market players are fueling the segment's growth over the forecast period. For instance, in July 2021 Medtronic plc launched its Prevail drug-coated balloon (DCB) Catheter in the European region including Germany following the CE (Conformité Européene) mark.
Thus, owing to the growing demand for minimally invasive surgeries and technological advancements, there is a growth in the catheter segment of the studied market.
Germany Cardiovascular Devices Industry Overview
The German cardiovascular devices market is slightly consolidated in nature. The major players have established themselves in specific segments of the market. Some of the players who are currently dominating the market are Abbott Laboratories, Boston Scientific Corporation, Cardinal Health Inc, Edwards Lifesciences, GE Healthcare, W. L. Gore & Associates, Inc, Medtronic PLC, Biotronik, Siemens Healthineers AG, and Canon Medical Systems Corporation.
Germany Cardiovascular Devices Market Leaders
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Abbott Laboratories
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Boston Scientific Corporation
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Medtronic PLC
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Edwards Lifesciences
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Cardinal Health Inc
*Disclaimer: Major Players sorted in no particular order
Germany Cardiovascular Devices Market News
- In May 2022, HCSG and IMPLICITY, two Germany-based providers of remote monitoring solutions in the field of cardiology, announced the conclusion of a cooperation agreement. The two companies are intended for German cardiologists who want to run their telemedicine facility.
- In March 2022, Cathi Distribution GmbH, a Germany-based company specializing in endovascular simulators, launched the Cathis RHC 2, the company's next-generation suitable heart catheter (RHC) simulator.
Germany Cardiovascular Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Cardiovascular Diseases
4.2.2 Increased Preference of Minimally Invasive Procedures
4.3 Market Restraints
4.3.1 Stringent Regulatory Policies
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Device Type
5.1.1 Diagnostic and Monitoring Devices
5.1.1.1 Electrocardiogram (ECG)
5.1.1.2 Remote Cardiac Monitoring
5.1.1.3 Other Diagnostic and Monitoring Devices
5.1.2 Therapeutic and Surgical Devices
5.1.2.1 Cardiac Assist Devices
5.1.2.2 Cardiac Rhythm Management Device
5.1.2.3 Catheter
5.1.2.4 Grafts
5.1.2.5 Heart Valves
5.1.2.6 Stents
5.1.2.7 Other Therapeutic and Surgical Devices
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Boston Scientific Corporation
6.1.3 Cardinal Health Inc
6.1.4 Edwards Lifesciences
6.1.5 GE Healthcare
6.1.6 W. L. Gore & Associates, Inc
6.1.7 Medtronic PLC
6.1.8 Biotronik
6.1.9 Siemens Healthineers AG
6.1.10 Canon Medical Systems Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Germany Cardiovascular Devices Industry Segmentation
As per the scope of the report, cardiovascular devices are used to diagnose and treat heart disease and related cardiovascular problems. Cardiac Devices offers monitoring services to hospitals and physicians to take care of the patients with the help of the data collected by cardiac monitors. The German Cardiovascular Devices Market is segmented by Device type, Diagnostic and Monitoring Devices (Electrocardiogram, Remote Cardiac Monitoring, and Other Diagnostic and Monitoring Devices), and Therapeutic and Surgical Devices (Cardiac Assist Devices, Cardiac Rhythm Management Device, Catheter, Grafts, Heart Valves, Stents, and Other Therapeutic and Surgical Devices). The report offers the value (in USD million) for the above segments.
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Germany Cardiovascular Devices Market Research FAQs
What is the current Germany Cardiovascular Devices Market size?
The Germany Cardiovascular Devices Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in Germany Cardiovascular Devices Market?
Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Edwards Lifesciences and Cardinal Health Inc are the major companies operating in the Germany Cardiovascular Devices Market.
What years does this Germany Cardiovascular Devices Market cover?
The report covers the Germany Cardiovascular Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Germany Cardiovascular Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Germany Cardiovascular Device Industry Report
Statistics for the 2024 Germany Cardiovascular Device market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Germany Cardiovascular Device analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
