Cardiovascular Prosthetic Device Market Research Report: By Device Type (Heart Valves, Vascular Grafts, Stents, Pacemakers and Defibrillators, Catheters), By Material (Biological, Synthetic, Combination), By Procedure (Open Surgery, Minimally Invasive Surgery, Transcatheter Procedures), By Application (Coronary Artery Disease, Valvular Heart Disease, Peripheral Artery Disease, Aortic Aneurysms, Congenital Heart Defects) and By Regional (North America, Europe, South America, Asia-Pacific, Middle East and Africa) - Forecast to 2032.

Global Cardiovascular Prosthetic Device Market Overview

As per MRFR analysis, the Cardiovascular Prosthetic Device Market Size was estimated at 67.49 (USD Billion) in 2022. The Cardiovascular Prosthetic Device Market is expected to grow from 70.68 (USD Billion) in 2023 to 107.2 (USD Billion) by 2032. The Cardiovascular Prosthetic Device Market CAGR (growth rate) is expected to be around 4.73% during the forecast period (2024 - 2032).

Key Cardiovascular Prosthetic Device Market Trends Highlighted

The  cardiovascular prosthetic device market is projected to witness steady growth in the coming years, driven by factors such as the increasing prevalence of cardiovascular diseases, the growing geriatric population, and technological advancements.

The rising incidence of heart failure, coronary artery disease, and other cardiovascular ailments has led to a surge in demand for prosthetic devices, such as heart valves, stents, and pacemakers. Additionally, the growing adoption of minimally invasive surgical techniques has fueled the market's growth.

Opportunities for growth in the cardiovascular prosthetic device market lie in the development of novel devices and technologies that improve patient outcomes and reduce complications.

Advancements in biomaterials and 3D printing are enabling the creation of personalized implants tailored to individual patient needs. Moreover, the increasing use of robotics and telemedicine in cardiovascular procedures is expected to drive market expansion.

Recent trends in the cardiovascular prosthetic device market include the miniaturization of devices, the integration of sensors and monitoring capabilities, and the use of artificial intelligence for personalized treatment planning.

These advancements are improving the accuracy, efficacy, and safety of cardiovascular prosthetic devices, contributing to improved patient outcomes and a better quality of life.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Cardiovascular Prosthetic Device Market Drivers

Increasing Prevalence of Cardiovascular Diseases

Cardiovascular diseases are the leading cause of death ly, accounting for an estimated 17.9 million deaths in 2019. The increasing prevalence of CVDs is a major driver of the growth of the  Cardiovascular Prosthetic Device Market.

The increasing prevalence of CVDs is linked to several factors, including unhealthy lifestyles, such as poor diet, physical inactivity, and smoking, as well as an aging population. Over time, as the population ages, the risk of developing CVD will increase.

CVDs are more common in older adults, as the risk factors are built up over time, leading to the deterioration of the structure and functionality of the heart and blood vessels due to old age. The increasing prevalence of CVDs will continue over the years, enhancing the demand for cardiovascular prosthetic devices.

Technological Advancements in Cardiovascular Prosthetic Devices

The Cardiovascular Prosthetic Device Market is driven by technological advancements that improve the safety and efficacy of these devices. Recent advancements include the development of biocompatible materials, improved design and engineering, and the use of artificial intelligence (AI) and machine learning (ML) in the design and manufacturing of cardiovascular prosthetic devices.

These advancements have led to the development of cardiovascular prosthetic devices that are more durable, less invasive, and more effective at restoring cardiovascular function.

For example, the development of transcatheter aortic valve implantation (TAVI) has revolutionized the treatment of aortic stenosis, a narrowing of the aortic valve. TAVI is a minimally invasive procedure that involves implanting a new aortic valve through a small incision in the leg.

TAVI is less invasive than traditional open-heart surgery and has a shorter recovery time, which has made it a more popular option for patients with aortic stenosis.

Rising Healthcare Expenditure

The Cardiovascular Prosthetic Device Market is increasingly driven by rising healthcare expenditure. Healthcare expenditure is on the rise ly, in part due to the increasing prevalence of chronic diseases and the aging population and because of the rising cost of medical technology.

The rise in the cost of healthcare is making it more difficult for patients to afford anti-cholesterol drugs and cardiovascular prosthetic devices.

However, it is also creating opportunities for manufacturers to create cardiovascular prosthetic devices that are more affordable. Therefore, manufacturers are making new and innovative cardiovascular prosthetic devices that are more affordable and accessible to patients.

One such device is the bioresorbable stent. The development of bioresorbable stents has reduced the cost of stent implantation. Bioresorbable stents are made of materials that are absorbed by the body and as a result, there is no longer a need for a second procedure for removing the stent.

Cardiovascular Prosthetic Device Market Segment Insights

Cardiovascular Prosthetic Device Market Device Type Insights

The  Cardiovascular Prosthetic Device Market is segmented by Device Type into Heart Valves, Vascular Grafts, Stents, Pacemakers and Defibrillators, and Catheters. The largest segment of the Cardiovascular Prosthetic Device Market is Heart Valves, holding around 38.5% of the market share in 2023, mostly due to the rising prevalence of heart valve diseases, such as stenosis and regurgitation.

Vascular Grafts segment is projected to grow substantially throughout the forecasted period, as a result of the increasing occurrence of peripheral artery disease and growing adoption of minimally invasive surgical methods.

Stents are another major segment of the Cardiovascular Prosthetic Device Market, holding around 19.2% of the market share in 2023. The segment is growing on account of the increasing popularity of stents in the treatment of coronary artery disease.

As for Pacemakers and Defibrillators, the segment is poised to record moderate growth throughout the forecasted period, primarily due to the rising prevalence of arrhythmias and the increasing activity of the implantable devices.

Catheters is yet another segment, expected to undergo substantial growth during the forecasted period on account of the rising incidence of sites for minimally invasive surgical methods, and the increasing sales of catheters for diagnostic and therapeutic applications.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Cardiovascular Prosthetic Device Market Material Insights

The Cardiovascular Prosthetic Device Market is segmented based on material into biological, synthetic, and combination. The biological segment maintained the largest share of the market in 2023 and will continue to dominate the market over the forecast period.

This is attributed to the increasing demand for biocompatible and durable materials for cardiovascular implants. The synthetic segment is also expected to grow relatively at a significant rate over the forecast period due to material science advances and novel synthetic materials’ development with better properties.

The combination segment is not expected to show considerable growth over the forecast period as it grows at a relatively constant rate, but it has benefited from both biological and synthetic materials.

The increase will be driven by a rise in cardiovascular disease prevalence, demand for minimally invasive methods, and technological innovations in cardiovascular prosthetic devices.

Cardiovascular Prosthetic Device Market Procedure Insights

The Cardiovascular Prosthetic Device Market is segmented by procedure into open surgery, minimally invasive surgery (MIS), and transcatheter procedures. The transcatheter procedures segment is expected to grow at the highest CAGR during the forecast period.

This growth is attributed to the increasing adoption of minimally invasive procedures, which are less invasive and offer faster recovery times for patients. Additionally, the development of new and innovative transcatheter devices is also contributing to the growth of this segment.

In 2024, the transcatheter procedures segment is expected to account for over 40% of the Cardiovascular Prosthetic Device Market revenue.

The open surgery segment is expected to remain the largest segment, but its share is expected to decline slightly over the forecast period. The minimally invasive surgery segment is expected to grow at a moderate pace, driven by the increasing demand for less invasive procedures.

Cardiovascular Prosthetic Device Market Application Insights

The Cardiovascular Prosthetic Device Market is segmented by Application into Coronary Artery Disease, Valvular Heart Disease, Peripheral Artery Disease, Aortic Aneurysms, and Congenital Heart Defects.

Among these, coronary artery disease is expected to hold the largest market share over the forecast period. The rising prevalence of coronary artery disease, increasing demand for minimally invasive procedures, and technological advancements in stent designs are major factors driving the growth of this segment.

Valvular Heart Disease is another significant application segment, owing to the increasing incidence of valvular heart disease and the growing number of elderly patients.

Peripheral Artery Disease is also expected to witness substantial growth due to factors such as the rising prevalence of diabetes and obesity. Aortic Aneurysms and Congenital Heart Defects are expected to contribute moderately to the overall market growth.

Cardiovascular Prosthetic Device Market Regional Insights

North America is the largest Cardiovascular Prosthetic Device Market with a revenue of USD 30.8 billion in 2023 and is projected to register a CAGR of 4.6% from 2024 to 2032. The growth is attributed to increasing prevalence of cardiovascular diseases, rising geriatric population, and technological advancements in prosthetic devices.

Europe is the second largest market with a revenue of USD 20.4 billion in 2023, driven by increasing healthcare expenditure and favorable reimbursement policies.

APAC is expected to witness the fastest growth during the forecast period, with a CAGR of 5.2%, owing to rising disposable income, growing awareness about cardiovascular diseases, and increasing access to healthcare facilities.

South America and MEA are expected to experience steady growth, with increasing government initiatives to improve healthcare infrastructure and a rising patient population.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Cardiovascular Prosthetic Device Market Key Players and Competitive Insights:

Major players in the Cardiovascular Prosthetic Device Market are constantly striving to gain a competitive edge by developing innovative products and expanding their  presence. They are also focusing on strategic partnerships, acquisitions, and collaborations to enhance their market position.

Leading Cardiovascular Prosthetic Device Market players are investing heavily in research and development to introduce advanced technologies and improve the efficacy of their products. The Cardiovascular Prosthetic Device Market is characterized by intense competition, with numerous established and emerging players vying for market share.

Key strategies adopted by major players include product differentiation, brand building, and geographical expansion.

Edwards Lifesciences is a leading company in the Cardiovascular Prosthetic Device Market. It is known for its innovative products and strong brand recognition. The company offers a wide range of cardiovascular prosthetic devices, including heart valves, vascular grafts, and catheters.

Edwards Lifesciences has a  presence and is committed to providing high-quality products and services to its customers. The company's focus on innovation and customer satisfaction has enabled it to maintain a strong position in the market.

Medtronic is another major competitor in the Cardiovascular Prosthetic Device Market. It is a  leader in the medical device industry and offers a comprehensive portfolio of cardiovascular products. Medtronic's cardiovascular offerings include heart valves, stents, and pacemakers.

The company has a strong  presence and is committed to providing innovative and reliable solutions to its customers. Medtronic's focus on research and development has enabled it to stay at the forefront of the industry.

Key Companies in the Cardiovascular Prosthetic Device Market Include:

• Atrion Corporation


• Sorin S.p.A.


• Shanghai MicroPort Medical (Group) Co., Ltd.


• Boston Scientific Corporation


• Cardia, Inc.


• Abbott


• MicroPort Scientific Corporation


• Terumo Corporation


• LivaNova PLC


• CryoLife, Inc.


• Biotronik SE Co. KG


• L. Gore Associates, Inc.


• Edwards Lifesciences Corporation


• Medtronic plc


• Lepu Medical Technology (Beijing) Co., Ltd.

Cardiovascular Prosthetic Device Market Developments

The market growth is attributed to factors such as rising prevalence of cardiovascular diseases, increasing geriatric population, technological advancements in prosthetic devices, and growing demand for minimally invasive procedures.

Key recent developments include the FDA approval of Abbott's Aveir VR implantable leadless pacemaker and the launch of Medtronic's Micra AV pacemaker system.

Partnerships and acquisitions, such as the collaboration between Edwards Lifesciences and Abbott to develop a transcatheter mitral valve replacement system, are shaping the market landscape.

Cardiovascular Prosthetic Device Market Segmentation Insights

Cardiovascular Prosthetic Device Market Device Type Outlook

• Heart Valves


• Vascular Grafts


• Stents


• Pacemakers and Defibrillators


• Catheters

Cardiovascular Prosthetic Device Market Material Outlook

• Biological


• Synthetic


• Combination

Cardiovascular Prosthetic Device Market Procedure Outlook

• Open Surgery


• Minimally Invasive Surgery


• Transcatheter Procedures

Cardiovascular Prosthetic Device Market Application Outlook

• Coronary Artery Disease


• Valvular Heart Disease


• Peripheral Artery Disease


• Aortic Aneurysms


• Congenital Heart Defects

Cardiovascular Prosthetic Device Market Regional Outlook

• North America


• Europe


• South America


• Asia-Pacific


• Middle East and Africa