Europe Cardiovascular Devices Market

Europe Cardiovascular Devices Market Size (2023 to 2028)

The market size for cardiovascular devices in the European region was valued at USD 15.18 billion in 2023. This value is further estimated to be growing at a CAGR of 6.42% from 2023 to 2028 and worth USD 20.72 billion by 2028.

The technology utilized in the development of cardiology devices has dramatically improved over the last decade, and the indications for these devices have grown. As a result, more patients are being handled with cardiology devices, leading to exponential treatment and monitoring outcomes. In addition, artificial intelligence has a substantial positive impact on cardiology by improving diagnostic capacities for specific heart problems. As a result, lifestyle adjustments and medication may be advised for particular individuals instead of cardiovascular treatments.

The rising incidence of coronary heart disorders, such as stroke and cardiomyopathy, which cause a load of cardiac mortality, is a major factor accelerating the growth of the cardiovascular devices market in the European region. Cardiovascular diseases are the most common cause of death in the United Kingdom, and they are the leading cause of death. Electrocardiogram (ECG), remote cardiac monitoring, and other diagnostic and monitoring devices are among the diagnostic and monitoring devices that are further investigated. Catheters, grafts, heart valves, stents, and other therapeutic and surgical devices are also categorized into cardiac assist devices, cardiac rhythm management devices, catheters, grafts, heart valves, and stents.

However, one of the primary factors projected to hinder the growth of the European cardiovascular devices market is strict regulatory rules. Furthermore, if the gadgets do not meet the regulatory bodies' requirements, they will not be permitted for sale, resulting in a huge loss of investment for the producers. Furthermore, when products fail to fulfill the government's standard requirements, there is a risk of device recall, which is exceptionally high in the case of cardiovascular equipment, severely influencing the market.

This research report on the European cardiovascular devices market has been segmented and sub-segmented into the following categories.

By Product:

• Diagnostic and Monitoring
  • ECG
  • Holter Monitors
  • Event Monitors
  • Implantable Loop Recorders
  • Echocardiogram
  • Pet Scan
  • MRI
  • Cardiac CT
  • Doppler Fetal Monitors
• Surgical Devices
  • Pacemakers
  • Stents
  • Catheters and accessories
  • Guidewires
  • Cannulae
  • Electrosurgical Procedures
  • Valves
  • Occlusion Devices

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, Europe holds the second-largest share in the global market during the forecast period, and the market for cardiovascular devices is expected to be accelerated by the high prevalence of cardiovascular disease induced by unhealthy lifestyle choices such as smoking, alcohol consumption, and hypertension, as well as a huge senior population. In addition, scientific and technological advancements have led to the development of minimally invasive treatments for the illness and increasing public awareness of treatment choices.

Regionally, proper medical reforms and acceptable, cost-effective medicines aided by coverage and payments have shaped the growth curve in nations such as Germany and the United Kingdom. In addition, strategic acquisitions, mergers, and new core product releases have increased the market. Exorbitant gadget maintenance costs and a scarcity of qualified staff, on the other hand, have become significant economic hurdles.

Most importantly, the cardiovascular device market is expected to grow at the fastest rate over the forecast period, owing to widespread adoption of advanced cardiovascular equipment, solutions, and software, as well as a growing need for cardiovascular device implementation in countries such as Germany, the United Kingdom, Spain, and France.

KEY MARKET PLAYERS:

Companies playing a vital role in the European cardiovascular devices market profiled in this report are Abbott Laboratories, Boston Scientific Corporation, Cardinal Health Inc., GE Healthcare, WL Gore & Associates Inc., Medtronic PLC, Biotronik, Siemens Healthineers AG, Canon Medical Systems Corporation, Edwards Lifesciences, B. Braun Melsungen AG, and Livanova.