Innovation driving expansion in cardiovascular devices market

The cardiovascular devices market is set to grow at a compound annual rate (CAGR) of 5.2% between 2023 and 2033, with AI set to both push and diversify the market, according to a GlobalData analyst.

Cynthia Stinchcombe, medical devices analyst at GlobalData, told Medical Devices Technology : “The cardiovascular devices market is undergoing rapid expansion and diversification. AI-enhanced solutions exemplify the industry’s shift toward precision medicine, aligning with regulatory bodies like the FDA prioritising innovative approaches to improve outcomes in cardiovascular disease management.”

GlobalData is the parent company of Medical Device Network .

Analysis by the data analytics company expects the cardiovascular devices market to grow in value from $84.8bn in 2023 to $140bn in 2033. It points to the increasing demand for advanced diagnostic and therapeutic tools tailored to cardiac care as factors driving technological innovation in the growing sector.

Stinchcombe expanded: “The adoption of cutting-edge technologies in cardiovascular care emphasises the critical role innovation plays in modern healthcare. With these advanced systems, we are moving towards more tailored and effective treatment strategies for heart conditions, improving both quality of life and clinical outcomes.”

Adaptive cardiovascular devices are a “tailored and effective” segment of the growing market that GlobalData identifies as offering particular value to patients through real-time monitoring and dynamic therapy adjustments. Alongside AI-driven and wearable technology, adaptive devices are contributing to a broader comprehensive framework for cardiac health management.

A recent example of innovative solutions includes Lenovo’s TRAdA platform, created in partnership with the Instituto do Coração (the largest cardiology hospital in Latin America). It uses AI in a wearable IoT device for real-time heart monitoring.

Stinchcombe said: “As cardiovascular diseases remain a leading global health concern, the advancements we’re seeing offer renewed hope. Emerging technologies are crucial in expanding diagnostic and therapeutic capabilities. With the FDA’s support for AI-driven medical devices, these innovations are set to reshape cardiac care, delivering transformative benefits to patients worldwide.”

AI-driven medical devices are being investigated across markets and in a broad range of cardiovascular use cases. In June 2024, the British Heart Foundation shared research into a new AI tool – Rapid-RO – which could rapidly rule out heart attacks in A&E patients, freeing up valuable NHS time and resources. It found that, of 33,727 patients tested during the research, Rapid-RO successfully ruled out heart attacks in over a third (36%), compared to 27% ruled out by traditional troponin testing alone.