ID: MRFR/MED/2110-HCR | February 2021 | Region: Global | 90 pages
Cardiac surgery instruments market was valued at approximately USD 1,160 Million in 2017 and is projected to register a 7.5% CAGR over the forecast period. The instruments used for conducting a procedure of cardiovascular surgery are known as cardiac surgery instruments. Surgeons on the heart perform this surgery. This surgery helps treat heart diseases like valvular heart disease congenital heart disease, which are caused due to various issues like rheumatic heart disease, endocarditis, and atherosclerosis. It is performed to treat heart complications like ischemic heart disease such as coronary artery bypass grafting.
It also includes heart transplant, aortic valve surgery, left ventricular assist device, left ventricular remodeling, myectomy etc. the cardiac surgery instruments consist of various types of scissors, forceps, needles, hooks, clamps and blunts. These are divided into three types cutting, holding and retractor instruments to hold the incision open. These don’t include a fourth category of clamping instruments. These are of two types disposable and reusable instruments. Disposable instruments are used for single-use, whereas reusable instruments are used again and again and usually found at Cardiac Surgery Instruments Market.
The rate of medical supplies is increasing because of the rate of infected populations in the Cardiac Surgery Instruments Market. Respiratory support devices like life support, oxygen generator, atomizer and monitor are the most used medical devices in primary treatments. Due to the Nobel virus covid-19, the need for medical supplies like gloves, sanitizer, masks protective eyeglasses are rising, which increased the Market Growth. Due to covid-19 medical supplies are rising from a healthcare professional and civil population for precautionary measures. The manufacturers of the products are making sure there is an adequate and sufficient supply of resources to the Market.
Chief Factors Existing In The Market
The Cardiac Surgery Instruments Market is driven by some factors such as high incidence of cardiac diseases, which includes coronary artery bypass grafting, aortic valve surgery etc. The Market is growing from the prevalence of cardiac conditions and the subsequent increase in the number of surgical procedures, rising geriatric population and growing investments, grants by the government. The major key driver, which drives the Cardiac Surgery Instruments Market, is funds that are collected across the world by the government.
The challenges that are faced by Market are the increase in stringency of regulations, the poor per capita income in underdeveloped countries, the Cardiac Surgery Instruments Market Growth is hampered by uncertainty in the healthcare policies along with the poor healthcare expenditure.
The Cardiac Surgery Instruments Market gets to benefit from cross-channel demand for improving medical services and care. Cardiac surgery instruments make sure the patient is safe and take proper care of the patient before and after heart surgery. The rise in demand for nursing wounds after surgery and the increase in the government’s support and investments in healthcare sectors and medical devices are boosting the global cardiac surgery instruments market value.
The Cardiac Surgery Instruments Market may be restrained due to stringent and longer approval processes done by the regulatory authorities. The study confirmed that the financial loss associated with the delay in getting the approval might cost an average of $6.7 million to the already existing $94 million average prices to introduce a medical device to market.
Cumulative Evaluation Of The Market
More than 48.0% of adults have some form of the cardiovascular condition in the U.S., according to the American Heart Association. An increase in the prevalence of cardiovascular disease, growing healthcare investment, rising incidence of diabetes, and technological advancements can be attributed to growth. The globally increasing aging population is one of the major drivers of this market. According to WHO, between 2015 and 2050, the world’s senior population is expected to nearly double from 12.0% to 22.0%. The market is expected to be operated by a rise in congenital disabilities and avascular malfunction in the geriatric population. An unhealthy lifestyle and physical inactivity are also increasing the chances of cardiovascular conditions.
In the product segments, the forceps segment is expected to account for the majority revenue share in the global cardiac surgery instruments market during the estimated period. This growth is assigned to the rising number of cardiac surgeries and growth in the accessibility of several types of instruments, such as Grasping & vascular forceps.
The coronary artery bypass grafting segment in the application segments is estimated to account for the highest CAGR in the global cardiac surgery instruments market, and the trend is expected to continue over the estimated period. This is assigned to the increasing number of coronary artery disease globally, which needs surgery.
America is expected to dominate the cardiac surgery instruments market owing to the increasing number of cardiac diseases, hypertension, and other heart disorders, which create major problems in blood flow and thereby require surgical treatment methods. Every year, around 735,000 people suffer from heart attacks, according to the Centers for Disease Control and Prevention 2017. The large number of people having cardiac issues is actually driving the market.
The second-ranked position in the cardiac surgery instruments market share is estimated to be held by Europe. The presence of a large number of the developed healthcare industry, medical device companies, and a large number of cardiac hospitals in this region operate the market growth. Also, the patients suffering from diabetes and obesity having severe heart diseases drives the market growth in this region. Every year, cardiovascular disease causes 3.9 million deaths in Europe, according to the European Heart Network AISBL 2017. Such an increase in cardiovascular diseases rises the market growth in this region.
In the growing senior population with cardiac diseases, stroke, and blockage in arteries or veins, Asia-Pacific is predicted to be the fastest-growing region. In 2016, the American Heart Association gave data that among Asians, 6% have heart disease, and 3.3% have coronary heart disease (CHD). The rising patient population who are suffering from various heart diseases rises the demand for surgical instruments in the locations.
The Middle East & Africa is predicted to hold the least share of the market during the estimated period. Due to the rising economy and increasing government rules for the healthcare sector in this region, a majority of the market share of this region is expected to be held by the Middle East region. These are the cardiac surgery instruments market analysis.
Competitive intensity within industries
The key player of the market helps the market to grow at the global level. The player plans the future development and other improvements which are necessary to meet the customer's needs or demands. The presence of industrial players in various regions accelerates the global Cardiac Surgery Instruments Market Outlook. These are
In this cardiac surgery instruments market, we have discussed market overview, covid-19 analysis, market shares, market segmentation, competitive analysis, recent development, market challenges and opportunities, market key players and market restraints.
Key Industrial Segments
Middle East & Africa
|CAGR||7.5% CAGR (2018-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Application, and End users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||B.Braun Melsungen AG (Germany), KIS Martin Group(Germany), Sklar Surgical Instruments (US), Teleflex Incorporated (US), Symmetry Surgical Inc (US), Medicon eG (Germany), STILLE (US), Delacroix-Chevalier (US) , Cardivon Surgical Inc. (China), Boss Instruments Ltd (US) , Wexler Surgical (US), and Scanlan International (US)|
|Key Market Opportunities||Stress and Hectic lifestyle causing heart diseases|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Cardiac Surgery Instruments Market is projected to grow at a 7.5% CAGR between 2019-2025.
It is extensively used in heart transplants, valve surgery, and others.
Different end use industries of cardiac surgery instruments include ambulatory surgical centers, hospitals and clinics, and others.
Rising prevalence of cardiac diseases and sedentary lifestyle is adding market growth.
Strict government regulations may limit market growth.