Cardiovascular Devices Market: By Device Type (Diagnostic Devices - ECG, PET Scan, MRI, Cardiac CT, Doppler Fetal Monitors, Cardiac Diagnostic Catheters, Others; Surgical Devices – Pacemakers, Catheters, Stents, Valves, Cannulae, Others) and Geography

Cardiovascular Devices Market was valued at USD 63.8 Billion in 2023 and grew at 5.9% CAGR over the historical years (2019 - 2023). The Cardiovascular Devices Market is projected to grow at a CAGR of 6%. Cardiovascular disease is among the most common medical disorders worldwide. For example, according to research published by the Heart and Stroke Foundation of Canada in February 2022, 750,000 Canadians have been diagnosed with heart failure, with 100,000 being diagnosed with this fatal ailment each year. It further reported that in 2019, 32,271 women in Canada died from heart disease and stroke, with one woman dying every 16 minutes. According to the most recent Heart & Stroke national polling statistics, approximately 40% of people in Canada are susceptible to heart disease and stroke, which are the major causes of premature death. As a result, cardiovascular devices offer a significant part in accurately diagnosing and treating cardiac issues, which is driving market growth. In addition, this market's primary drivers include rapid technological progress, a growth in affordable and effective technologies, and increased demand for minimally invasive procedures. 

Cardiovascular Devices Market Key Developments:

• On May 31, 2024, Johnson & Johnson announced that it has completed the acquisition of Shockwave Medical. Shockwave has joined Johnson & Johnson and will operate as a business unit under Johnson & Johnson MedTech. On April 5, the businesses announced a definitive agreement in which Johnson & Johnson will purchase all outstanding shares of Shockwave for $335.00 per share in cash, for a total enterprise value of roughly $13.1 billion including cash acquired.
• On May 29, 2024, Royal Philips had announced the international introduction of its VeriSight Pro three-dimensional (3D) intracardiac echocardiography (ICE) device. Hospitals in Hong Kong have begun employing the VeriSight Pro, marking the first time the technology has been utilized therapeutically outside of the United States or Canada.
• On May 13, 2024, Edwards Lifesciences has announced the European launch of the Sapien 3 Ultra Resilia transcatheter aortic heart valve. Edwards stated that the Sapien 3 Ultra Resilia device had recently received CE Mark approval for use in patients with heart valve disease caused by native calcific aortic stenosis at all levels of surgical risk or caused by the failure of either a transcatheter or a surgical bioprosthetic valve, and who are deemed to be at high or greater risk for open surgical treatment.