USA Cardiovascular Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.80 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
USA Cardiovascular Devices Market Analysis
The United States Cardiovascular Devices Market is expected to register a CAGR of 4.8% during the forecast period.
The COVID-19 pandemic impacted the production of cardiovascular devices in United States in the year 2020. Furthermore, the delay of elective procedures due to COVID-19-related measures has adversely affected the cardiovascular medical devices market, especially in 2020. While some cardiovascular procedures are considered urgent, others have been postponed and delayed since the beginning of the global pandemic. Hence, lifestyle changes and medication can be temporarily prescribed instead of cardiovascular procedures for some patients. Another factor negatively impacting the market is the reduction in the diagnosis of cardiovascular diseases due to healthcare resources being reserved for COVID-19 patients.
The major factors driving the growth of the market in the United States are the presence of established healthcare infrastructure, rapid technological advancements, increasing burden of cardiovascular diseases, and increased adoption of minimally invasive procedures.
As per Heart Disease & Stroke Statistical Fact Sheet 2020, estimates that a minimum of 40,000 infants is expected to be affected each year by congenital heart defects in the United States. Of these, about 25% or 2.4 (per 1,000 live births), require treatment in the first year of life. In addition, according to the Centers for Disease Control and Prevention (CDC), in the United States, the prevalence of atrial fibrillation is estimated to rise to 12.1 million by the year 2030.
In 2021, every year, 5 million Americans are diagnosed with HVD (heart valve disease), according to the American College of Cardiology. Because of calcium buildup and scarring in the valve cusp, HVD primarily affects the elderly. As a result, the rapidly aging population and the resulting increase in VHD (Valvular heart disease) are increasing demand for prosthetic heart valves in the United States.
Furthermore, due to ongoing development in the cardiovascular field and technological advancements are also expected to propel the growth of the United States cardiovascular devices market.
USA Cardiovascular Devices Market Trends
This section covers the major market trends shaping the USA Cardiovascular Devices Market according to our research experts:
Electrocardiogram (ECG) is Expected to Dominate the Diagnostic And Monitoring Segment Over the Forecast Period
An electrocardiogram (ECG) records the electrical signals from the heart. It is a common and painless test used to detect heart problems and monitor the heart's health.
Currently, there are portable and compact electrocardiogram (ECG) is driving its greater adoption, especially in the home healthcare segment. Moreover, there has been an increase in the incidence of cardiovascular diseases (CVD), wherein long-term ECG monitoring is necessary and with the introduction of wireless ECG, doctors can monitor and diagnose the patient remotely on time, which further fuels the market growth.
According to the Centres for Disease Control and Prevention (CDC) in September 2020, heart disease is the leading cause of death in the United States. Every year about 805,000 Americans has a heart attack. As the number of deaths due to heart diseases is increasing there is a continuous need for the proper detection and diagnosis of cardiac diseases and congestive heart failure (CHF) treatment devices fulfill the unmet needs and hence is expected to show growth over the forecast period.
In addition, several market players are engaged in the implementation of initiatives, thereby contributing to market growth. For instance, in August 2020, Myocardial Solutions, Inc. and United Imaging, Inc. have formed a strategic partnership to open the cancer care and cardiology market for rapid cardiac magnetic resonance (MR) imaging. The partnership will focus on providing cancer centers and hospitals with critical MyoStrain-enabled solutions for the detection and management of cardiac diseases and the effects of cancer therapies on the heart. The new partnership between United Imaging and MSI marks the first commercial availability of transformative cardiac and cancer testing for clinical use in the United States.
Furthermore, increasing cardiovascular diseases, such as high blood pressure, arrhythmias, and stroke are increasing the demand for cardiovascular devices, along with growing demand for minimally invasive surgeries and technological advancements are also expected to drive the market in near future.
USA Cardiovascular Devices Industry Overview
The United States cardiovascular devices market is consolidated competitive. 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, Edwards Lifesciences, Medtronic PLC, Cardinal Health Inc., GE Healthcare, Biotronik, Siemens Healthineers AG and W. L. Gore & Associates, Inc.
USA Cardiovascular Devices Market Leaders
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Abbott Laboratories
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Boston Scientific Corporation
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Edwards Lifesciences
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Medtronic PLC
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Cardinal Health Inc.
*Disclaimer: Major Players sorted in no particular order
USA Cardiovascular Devices Market News
- In November 2021, the company Royal Philips announced the acquisition of Cardiologs to expand its cardiac diagnostics and monitoring portfolio
- In March 2021, the United States Food and Drug Administration approved a non-surgical heart valve to treat pediatric and adult patients with a native or surgically-repaired right ventricular outflow tract (RVOT)
- In June 1, 2020, Boston Scientific Unites States launched the DIRECTSENSE Technology, a tool for monitoring the effect of radiofrequency (RF) energy delivery during cardiac ablation procedures.
USA Cardiovascular Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
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 Rapid Technological Advancements
4.2.2 Increasing Burden of Cardiovascular Diseases
4.2.3 Increased Preference of Minimally Invasive Procedures
4.3 Market Restraints
4.3.1 Stringent Regulatory Policies
4.3.2 High Cost of Instruments and Procedures
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
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 Edwards Lifesciences
6.1.4 Medtronic PLC
6.1.5 Cardinal Health Inc.
6.1.6 GE Healthcare
6.1.7 Biotronik
6.1.8 Siemens Healthineers AG
6.1.9 W. L. Gore & Associates, Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
USA Cardiovascular Devices Industry Segmentation
As per the scope of the report, Cardiovascular diseases are a group of disorders of the heart and blood vessels that includes coronary heart disease, peripheral arterial disease, congenital heart disease, and cerebrovascular disease. Cardiovascular devices are used to treat or prevent different cardiovascular conditions. The United States cardiovascular devices market is segmented by device type (Diagnostic and Monitoring Devices and Therapeutic and Surgical Devices).
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USA Cardiovascular Devices Market Research FAQs
What is the current United States Cardiovascular Devices Market size?
The United States Cardiovascular Devices Market is projected to register a CAGR of 7.80% during the forecast period (2024-2029)
Who are the key players in United States Cardiovascular Devices Market?
Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences, Medtronic PLC and Cardinal Health Inc. are the major companies operating in the United States Cardiovascular Devices Market.
What years does this United States Cardiovascular Devices Market cover?
The report covers the United States Cardiovascular Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Cardiovascular Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Cardiovascular Devices Industry Report
Statistics for the 2024 United States Cardiovascular Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Cardiovascular Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
