Cardiology Devices - Malaysia | Statista Market Forecast

The projected revenue for the Cardiology Devices market market in Malaysia is estimated to reach US$525.50m in 2024.
This indicates a positive growth trend for the market in the country.
It is anticipated that the revenue will continue to grow at an annual rate of 9.01% from 2024 to 2029, resulting in a market volume of US$808.80m by the end of 2029.
In comparison to other countries, the United States is expected to generate the highest revenue in the Cardiology Devices market market, with an estimated amount of US$25.77bn in 2024.
This highlights the dominance of the United States in this particular market on a global scale.
Malaysia is seeing a growing demand for advanced cardiology devices, driven by the increasing prevalence of cardiovascular diseases in the country.

Definition:
The Cardiology Devices market includes diagnostic, monitoring, and surgical devices that are used to treat heart diseases and heart-related problems.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Medtronic, Abbott Laboratories, Boston Scientific, Edwards Lifesciences.
Further information on the key players can be found in the Market Shares boxes.

Cardiology diagnostic & monitoring devices
Cardiology surgical devices
Implants such as pacemakers

Cardiology drugs
Cardiology supplements

The Cardiology Devices market in Malaysia is experiencing steady growth and development, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Cardiology Devices market in Malaysia are influenced by several factors. Firstly, there is a growing awareness and concern about cardiovascular diseases among the population. This has led to an increased demand for advanced cardiology devices that can effectively diagnose and treat these conditions. Additionally, customers in Malaysia are increasingly seeking minimally invasive procedures and devices that offer faster recovery times and less post-operative complications. This preference for less invasive procedures is driving the demand for innovative cardiology devices such as catheters and stents. Trends in the market are also contributing to the development of the Cardiology Devices market in Malaysia. One notable trend is the increasing adoption of digital health technologies in the cardiology field. This includes the use of telemedicine and remote monitoring devices, which allow healthcare professionals to remotely monitor patients' heart conditions and provide timely interventions. The integration of artificial intelligence and machine learning algorithms in cardiology devices is also gaining traction, as it enables more accurate diagnosis and personalized treatment plans. Local special circumstances in Malaysia further contribute to the growth of the Cardiology Devices market. The country has a rapidly aging population, which is prone to cardiovascular diseases. This demographic trend is driving the demand for cardiology devices and services. Additionally, Malaysia has a well-developed healthcare infrastructure, with a robust network of hospitals and clinics that provide specialized cardiology services. This enables easy access to cardiology devices and treatments for patients across the country. Underlying macroeconomic factors also play a role in the development of the Cardiology Devices market in Malaysia. The country has a strong and stable economy, with a growing middle class that has increasing disposable income. This allows individuals to afford advanced cardiology devices and treatments. Furthermore, the government of Malaysia has been actively promoting medical tourism, attracting patients from neighboring countries who seek high-quality cardiology services. This influx of medical tourists contributes to the growth of the market. In conclusion, the Cardiology Devices market in Malaysia is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing awareness of cardiovascular diseases, preference for minimally invasive procedures, adoption of digital health technologies, aging population, well-developed healthcare infrastructure, and strong economy all contribute to the positive trajectory of the market.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.