Market Size of Germany Cardiovascular Devices Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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 Size Summary
The German cardiovascular devices market is poised for growth, driven by an increasing prevalence of cardiovascular diseases and a rising preference for minimally invasive procedures. The market experienced significant disruptions during the COVID-19 pandemic, which led to a temporary halt in elective surgeries and diagnostics, adversely affecting the demand for cardiovascular devices. However, the market is expected to recover and expand due to technological advancements, strategic partnerships, and product launches by key players. Collaborations, such as the one between AIBODY and the German Heart Centre Berlin, aim to develop innovative solutions for congenital heart disease, further propelling market growth. Despite the positive outlook, stringent regulatory policies may pose challenges to market expansion.
The catheter segment, in particular, is anticipated to witness robust growth, fueled by the increasing burden of cardiovascular diseases and the demand for antimicrobial catheters. Advancements in cardiac catheters, along with approvals and launches, are contributing to the segment's expansion. The market is slightly consolidated, with major players like Abbott Laboratories, Boston Scientific Corporation, and Medtronic PLC dominating specific segments. Initiatives such as the cooperation agreement between HCSG and IMPLICITY for remote monitoring solutions highlight the ongoing innovation and collaboration within the industry. Overall, the German cardiovascular devices market is expected to experience steady growth, supported by technological progress and strategic industry developments.
Germany Cardiovascular Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Burden of Cardiovascular Diseases
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1.2.2 Increased Preference of Minimally Invasive Procedures
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Policies
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Device Type
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2.1.1 Diagnostic and Monitoring Devices
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2.1.1.1 Electrocardiogram (ECG)
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2.1.1.2 Remote Cardiac Monitoring
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2.1.1.3 Other Diagnostic and Monitoring Devices
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2.1.2 Therapeutic and Surgical Devices
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2.1.2.1 Cardiac Assist Devices
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2.1.2.2 Cardiac Rhythm Management Device
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2.1.2.3 Catheter
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2.1.2.4 Grafts
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2.1.2.5 Heart Valves
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2.1.2.6 Stents
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2.1.2.7 Other Therapeutic and Surgical Devices
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Germany Cardiovascular Devices Market Size 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.
