Australia Cardiovascular Devices Market Size Analysis - Market Share, Forecast Trends and Outlook Report (2025-2034)

Key Market Trends and Insights

• By product type, the therapeutic and surgical devices segment accounted for nearly 70% of the market share during the historical period.
• By end user, hospitals dominated the market, contributing approximately 61% of the total revenue in the historical period.
• By application, the coronary artery disease segment is expected to register notable growth during the forecast period.

Market Size and Forecast

• Market Size (2024): AUD 1.39 billion
• Projected Market Size (2034): AUD 2.10 billion
• CAGR (2025-2034): 4.20%

Australia Cardiovascular Devices Market Overview

Cardiovascular devices play a critical role in supporting the diagnosis, treatment, and monitoring of various heart and vascular conditions, driven by continuous technological innovation and the rising burden of cardiovascular diseases. In Australia, the cardiovascular devices market is witnessing steady expansion, supported by advanced healthcare infrastructure, increasing adoption of minimally invasive procedures, and a growing aging population. Strategic collaborations and product innovations are further enhancing market prospects. The market is poised to grow at a CAGR of 4.20% during the forecast period of 2025-2034.

Australia Cardiovascular Devices Market Growth Drivers

Breakthrough Innovations to Drive Growth in the Market

The development of next-generation implantable cardiac technologies is a key factor driving the growth in the market. In February 2024, Monash University announced the Artificial Heart Frontiers Program, supported by a USD 50 million grant from the Medical Research Future Fund (MRFF), to advance innovative solutions such as the Mini-Pump, a new Left Ventricle Assist Device (LVAD), and BiVACOR’s Total Artificial Heart (TAH). These devices aim to revolutionize heart failure treatment by mimicking natural physiological responses, significantly improving patient outcomes. Such advancements are expected to strengthen Australia’s position in cardiac device innovation and fuel long-term market expansion.

Australia Cardiovascular Devices Market Trends

Some of the trends in the market include the growing adoption of advanced drug-eluting stents and significant breakthroughs in artificial heart technology.

Rising Adoption of Advanced Drug-Eluting Stents Likely to Boost Market Growth

The rising adoption of advanced drug-eluting stents (DES) designed to improve patient outcomes in coronary artery disease is a key trend shaping the market. In September 2024, regulatory approval of innovative DES solutions underscored the country’s growing emphasis on technologies that combine biodegradable polymers with improved stent design to ensure safer and more effective treatments. This reflects Australia’s continued efforts to integrate next-generation cardiovascular technologies, which is expected to significantly strengthen patient care and boost the overall growth of the cardiovascular devices market.

Adoption of Artificial Heart Technologies to Enhance Australia Cardiovascular Devices Market Demand

The market is witnessing a transformative trend with the growing adoption of advanced artificial heart technologies. For example, in March 2025, Australia achieved a milestone with the first successful discharge of a patient implanted with a BiVACOR Total Artificial Heart, marking a global breakthrough in heart failure treatment. Such advancements highlight the nation’s strong capabilities in medical innovation and collaborative research. This trend is expected to accelerate the development of next-generation cardiac devices, thereby significantly boosting market growth.

Australia Cardiovascular Devices Market Share

Coronary Artery Disease is Expected to Lead the Market by Application

The landscape is enriched with diverse segments, including coronary artery disease, heart failure, and others, each playing a vital role in addressing the rising burden of cardiovascular conditions. Among these, coronary artery disease is expected to lead the market, supported by its high prevalence, growing demand for interventional procedures, and increasing adoption of advanced treatment technologies. Furthermore, initiatives such as the USD 12 million government investment in June 2025 to accelerate innovative cardiovascular solutions reinforce this dominance. As a result, coronary artery disease applications are anticipated to remain at the forefront of market expansion.

Leading Players in the Australia Cardiovascular Devices Market

The key features of the market report comprise funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:

Boston Scientific Corporation

Boston Scientific Corporation actively contributes to the market through its FocusRN clinical education program, which emphasizes cardiovascular health and evidence-based treatment strategies. The company provides specialized educational courses such as transseptal puncture training, equipping healthcare professionals with procedural knowledge and patient care practices. By integrating clinical education with advanced cardiovascular solutions, Boston Scientific strengthens its presence and impact in the region.

Abbott

Abbott is a leading global healthcare company actively engaged in the market through its broad portfolio of advanced cardiovascular technologies. The company develops innovative solutions across cardiac rhythm management, coronary intervention, electrophysiology, heart failure management, and structural heart care. Its products, including pacemakers, implantable cardioverter defibrillators, drug-eluting stents, intravascular imaging systems, and transcatheter valve solutions, support physicians in treating complex cardiovascular conditions. Abbott’s strong presence and continuous innovation contribute significantly to advancing patient care and improving cardiovascular health outcomes in Australia.

Medtronic

Medtronic, a medical technology company, plays a significant role in the market with a wide range of advanced solutions. The company offers innovative products such as the Evolut™ FX+ and PRO+ transcatheter aortic valve replacement (TAVR) systems, the Endurant™ II/IIs stent graft for abdominal aortic aneurysm repair, and the Onyx Frontier™ drug-eluting stent for complex coronary interventions. Additionally, Medtronic’s VenaSeal™ closure system and ClosureFast™ radiofrequency ablation system address venous diseases with minimally invasive approaches. Through these technologies, Medtronic strengthens its presence in Australia by supporting cardiac surgery, interventional cardiology, and endovascular procedures, thereby advancing patient care in cardiovascular health.

B. Braun SE

B. Braun SE is a leading global healthcare company with a strong presence in the cardiovascular devices market, offering advanced instruments for cardiothoracic and minimally invasive surgeries. Its portfolio includes the Heart XS Sternum Retractor, Sternum Retractors for coronary bypass, Unitrac® pneumatic holding arm, Titanium Ligation-Clips, and Valve XS for minimally invasive heart valve surgery, underscoring the company’s commitment to enhancing surgical precision and patient outcomes.

Other key players in the market include Cardinal Health, Terumo Corporation, Edwards Lifesciences Corporation, GE HealthCare, Siemens Healthcare Private Limited, LivaNova PLC, BD, and Koninklijke Philips N.V., among others.

Key Questions Answered in the Australia Cardiovascular Devices Market Report

• What was the Australia cardiovascular devices market value in 2024?
• What is the Australia cardiovascular devices market forecast outlook for 2025-2034?
• What are the major factors aiding the Australia cardiovascular devices market demand?
• How has the market performed so far, and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints?
• What are the major Australia cardiovascular devices market trends?
• Which device type is expected to dominate the market segment?
• Which application is projected to lead the market segment?
• Which end user is likely to dominate the market segment?
• Who are the key players involved in the Australia cardiovascular devices market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?