Cardiology Devices - Portugal | Statista Market Forecast

The projected revenue in the Cardiology Devices market market in Portugal is estimated to reach US$336.20m in 2024.
This suggests a positive growth trend for the market.
Furthermore, it is expected that the market will experience an annual growth rate (CAGR 2024-2029) of 5.77%, leading to a market volume of US$445.00m by 2029.
When compared globally, it is worth noting that the United States is anticipated to generate the highest revenue in the Cardiology Devices market market, with an estimated value of US$25.77bn in 2024.
This demonstrates the dominance of the United States in this market.
Portugal's cardiology device market is witnessing a surge in demand for innovative and cost-effective solutions to address the increasing 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 Portugal is experiencing steady growth due to various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Cardiology Devices market in Portugal are driven by a growing awareness of cardiovascular diseases and the need for advanced medical devices for diagnosis and treatment. Patients and healthcare professionals are increasingly seeking innovative and technologically advanced devices that offer accurate and efficient results. Additionally, there is a growing demand for minimally invasive procedures, which require specialized devices that can provide effective treatment options with reduced risks and faster recovery times. Trends in the Cardiology Devices market in Portugal are influenced by global advancements in medical technology and the increasing adoption of digital health solutions. The market is witnessing a shift towards the integration of artificial intelligence and machine learning algorithms in cardiology devices, enabling more accurate diagnosis and personalized treatment plans. Furthermore, there is a growing focus on the development of remote monitoring devices and telemedicine solutions, allowing healthcare professionals to remotely monitor patients' cardiovascular health and provide timely interventions. Local special circumstances in Portugal contribute to the development of the Cardiology Devices market. The country has a well-established healthcare system with a strong emphasis on research and development. This environment fosters innovation and attracts investments from both domestic and international players in the cardiology devices market. Additionally, Portugal has a high prevalence of cardiovascular diseases, creating a significant demand for advanced medical devices and treatments. Underlying macroeconomic factors also play a role in the growth of the Cardiology Devices market in Portugal. The country has a stable economy and a favorable business environment, which encourages market players to invest in research and development and expand their product portfolios. Furthermore, the government has implemented policies to improve access to healthcare services and promote the adoption of innovative medical technologies, creating a supportive regulatory framework for the cardiology devices market. In conclusion, the Cardiology Devices market in Portugal is witnessing steady growth driven by customer preferences for advanced and minimally invasive devices, market trends towards digital health solutions, local special circumstances such as a strong healthcare system and high prevalence of cardiovascular diseases, and underlying macroeconomic factors including a stable economy and supportive government policies.

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.