Cardiology Devices - New Zealand | Statista Market Forecast

The Cardiology Devices market market in New Zealand is set to achieve a projected revenue of NZD US$170.20m by 2024.
This represents a significant growth opportunity for the country's cardiology device industry.
Furthermore, the market is anticipated to exhibit a Compound Annual Growth Rate (CAGR 2024-2029) of 7.27%, leading to a market volume of NZD US$241.70m by 2029.
In a global context, it is worth noting that the United States is expected to generate the highest revenue in the Cardiology Devices market market, with an estimated value of US$25.77bn by 2024.
This highlights the dominance of the American market in terms of revenue generation.
New Zealand's cardiology device market is experiencing a surge in demand for innovative and cost-effective solutions to address the rising prevalence of cardiovascular diseases.

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 New Zealand is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive growth. Customer preferences in New Zealand are driving the demand for innovative and technologically advanced cardiology devices. Patients and healthcare professionals are increasingly seeking devices that offer improved accuracy, reliability, and ease of use. This preference for advanced technology is influencing the development and adoption of new cardiology devices in the market. Trends in the market are also playing a role in the growth of the Cardiology Devices market in New Zealand. One of the key trends is the increasing prevalence of cardiovascular diseases in the country. This rise in cardiovascular diseases is creating a greater need for cardiology devices to diagnose and treat these conditions. Additionally, there is a growing focus on preventive healthcare, with individuals taking proactive measures to monitor and manage their cardiovascular health. This trend is driving the demand for portable and wearable cardiology devices that allow for continuous monitoring outside of healthcare settings. Local special circumstances in New Zealand are also contributing to the growth of the Cardiology Devices market. The country has a well-established healthcare system that provides universal access to healthcare services. This accessibility to healthcare services ensures that individuals have the opportunity to receive timely and appropriate care for cardiovascular conditions. Furthermore, the government of New Zealand is actively investing in healthcare infrastructure and technology, creating a supportive environment for the development and adoption of cardiology devices. Underlying macroeconomic factors are also influencing the growth of the Cardiology Devices market in New Zealand. The country has a stable economy with a high standard of living. This economic stability allows individuals to afford and invest in healthcare services, including cardiology devices. Additionally, the aging population in New Zealand is driving the demand for cardiology devices, as older individuals are more prone to cardiovascular diseases and require regular monitoring and treatment. In conclusion, the Cardiology Devices market in New Zealand is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for innovative and technologically advanced devices, the increasing prevalence of cardiovascular diseases, the focus on preventive healthcare, the well-established healthcare system, the government's investment in healthcare infrastructure, the stable economy, and the aging population are all contributing to this positive growth.

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.