Cardiology Devices - Switzerland | Statista Market Forecast

The revenue of the Cardiology Devices market market in Switzerland is estimated to reach US$661.30m in 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 4.76%, leading to a market volume of US$834.60m by 2029.
When compared globally, the United States is projected to generate the highest revenue in the market, amounting to US$25.77bn in 2024.
Switzerland's strong emphasis on precision engineering and commitment to quality makes it a leading player in the cardiology devices market.

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 Switzerland is experiencing steady growth due to customer preferences for advanced medical technologies, increasing prevalence of cardiovascular diseases, and favorable local special circumstances. Customer preferences in Switzerland are driving the demand for innovative and technologically advanced cardiology devices. Swiss customers have a strong preference for high-quality and reliable medical equipment, and they are willing to invest in the latest technologies to ensure accurate diagnosis and effective treatment. As a result, there is a growing demand for advanced cardiology devices such as implantable cardioverter defibrillators, pacemakers, and cardiac monitors. The market is also being driven by the increasing prevalence of cardiovascular diseases in Switzerland. Factors such as sedentary lifestyles, unhealthy diets, and an aging population contribute to the rising incidence of heart diseases. This has created a need for effective and efficient cardiology devices to diagnose and treat these conditions. The demand for cardiology devices is expected to continue to grow as the population ages and the prevalence of cardiovascular diseases increases. In addition to customer preferences and the prevalence of cardiovascular diseases, Switzerland benefits from favorable local special circumstances that support the growth of the Cardiology Devices market. The country has a well-developed healthcare system with a high level of healthcare expenditure per capita. This enables healthcare providers to invest in advanced medical technologies and provide high-quality care to patients. Furthermore, Switzerland is known for its strong research and development capabilities, which contribute to the development of innovative cardiology devices. The Cardiology Devices market in Switzerland is also influenced by underlying macroeconomic factors. The country has a stable and prosperous economy, which supports the growth of the healthcare sector. Additionally, the government provides favorable reimbursement policies for medical devices, which encourages healthcare providers to invest in cardiology devices. Switzerland's strong intellectual property rights protection and its position as a hub for medical technology companies also attract foreign investments and drive innovation in the market. In conclusion, the Cardiology Devices market in Switzerland is experiencing steady growth due to customer preferences for advanced medical technologies, increasing prevalence of cardiovascular diseases, and favorable local special circumstances. The market is expected to continue to grow as the population ages and the demand for effective cardiology devices increases.

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.