The global cardiovascular devices market size is projected to reach US $ 54,140 million by 2027, from US $ 43,040 million In 2020, at a CAGR of 3.9% during the forecast period 2021-2027. Cardiovascular devices are used to diagnose, prevent, monitor, and treat diseases of the cardiovascular system, such as heart disease and other health issues.

The Cardiovascular Devices market is expanding due to an increase in the prevalence of chronic heart diseases. This contributes to the greater adoption of technologically advanced cardiology devices for diagnostic and surgical purposes.

Furthermore, significant price reductions in critical cardiovascular therapeutic devices drive cardiovascular devices' market expansion, particularly in emerging markets. 

As demand for these devices is expected to remain strong, key market players are expected to invest heavily in R&D initiatives. This is expected to result in the launch of innovative products, which will improve the condition of heart patients. Such novel product developments are expected to result in lucrative growth opportunities for the players in the cardiovascular devices market.

The rise in the prevalence of cardiovascular diseases is expected to drive the growth of the cardiovascular devices market. One of the key factors driving the market growth is the rise in the occurrence of chronic cardiovascular diseases such as heart failure and coronary artery disease (CAD). Coronary or cardiac stents are one of the most important cardiovascular devices. These devices aid in the treatment of potentially fatal cardiac conditions such as heart attack, coronary heart disease, atrial fibrillation, and the opening of narrowed arteries. 

Furthermore, the surge in regulatory approvals for new cardiovascular devices provides a lucrative growth opportunity to the cardiovascular devices market growth. Numerous initiatives taken by public authorities to make cardiovascular devices available to a large population in developing nations will most likely steer the market during the forecast period.

High demand for cardiovascular devices with advanced features is expected to further augment the cardiovascular devices market. Patients in advanced stages of heart disease require technologically advanced diagnostic and therapeutic cardiovascular devices regularly. This is due to increased awareness and demand for coronary stents and other Cardiovascular devices with improved safety features. 

Based on end-users, the hospital segment is expected to be the most lucrative segment. This is attributed to the need for trained medical professionals to insert critical cardiovascular devices such as stents. 

Based on region, North America is expected to be the most lucrative during the forecast period. This is attributed to the high prevalence of cardiovascular diseases, the high adoption rate of minimally invasive procedures, the presence of reimbursements, the rising geriatric population, and the high demand for continuous and home-based monitoring in the region.

According to the report, the major players in this segment are Medtronic, Abbott Laboratories, Boston Scientific, Cardinal Health and Edwards Lifesciences.