Market to Reach $ 1.63 billion by 2022 at 7.1% CAGR: Driven by (Heart Valve Surgery, Pediatric Surgery, Heart Transplant) Applications. North America dominated the global cardiac surgery instruments market in 2017, with the U.S. accounting for a major share of this regional market. Factors such as high incidence of cardiac diseases, rising awareness programs and increased funding for research projects are likely to drive the growth of the North American market.
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The cardiac surgery instruments market is expected to reach USD 1.63 Billion by 2022 from USD 1.16 Billion in 2017 at a CAGR of 7.1%. Major factors driving the growth of this market include growing prevalence of cardiac conditions and the subsequent increase in the number of surgical procedures, rising geriatric population, and growing investments, funds, and grants by government bodies worldwide.
However, adoption of alternative surgical methods and lack of Medicare payments may restrain the growth of this market.
Complete report on Cardiac Surgery Instruments Market spread across 152 Pages, Profiling 15 Companies and Supported with 82 Tables and 36 Figures is now available at www.rnrmarketresearch.com/cardiac-surgery-instruments-market-by-product-clamps-forceps-scalpel-scissors-needle-holder-application-coronary-artery-bypass-graft-heart-valve-surgery-pediatric-surgery-heart-transplant-end-user-ho-st-to-2022-market-report.html .
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On the basis of application, cardiac surgery instruments market has been mainly segmented into coronary artery bypass graft (CABG), heart valve surgery, pediatric cardiac surgery, and other applications. The CABG segment is expected to account for the largest share followed by heart valve surgery of the global market.
The growth of the CABG and heart valve surgery application is due to various factors such as high incidence of cardiac and heart valve diseases and the resulting increase in the number of surgical procedures.
- Hospitals and private clinics
- Cardiac centers
- Ambulatory surgery centers (ASCs)
- Academic institutes
- Medical research institutes
- Market research and consulting firms
- Venture capitalists
- Suppliers and distributors of cardiac surgery instruments
Followed by North America, Europe dominated cardiac surgery instruments market in 2017. The European market is mainly driven by increasing adoption of surgical procedures in cardiology, growth in European healthcare sector, and awareness programs.
However, the Asian market is slated to grow at the highest CAGR owing to the increasing government and private sector investments in healthcare, growing purchasing power and high incidence of cardiac diseases. Some prominent markets in Asia include China, India, and Japan.
The cardiac surgery instruments market is dominated by North America, followed by Europe. Market in Asia is expected to grow at highest CAGR during forecast period.
Factors such as increasing awareness programs, high incidence of cardiac diseases, rising number of hospitals, increased cardiac research funding, and improvements in healthcare sector of Asian countries contribute to growth of market in that region.
1 Cardiac Surgery Instruments: Market Overview
2 Cardiac Surgery Instruments Market Size, By Product, 2017 - 2022
3 Geographic Analysis: Cardiac Surgery Market, By Application (2017)
4 Cardiac Surgery Instruments Market, By End User
5 Geographic Snapshot of the Market
The cardiac surgery instruments market is fragmented with several global as well as local players. Players offer several products across different subsegments of this market.
Key players in this market include Becton, Dickinson and Company (U.S.), B. Braun Melsungen AG (Germany), Teleflex Incorporated (U.S.), Medline Industries, Inc.
(U.S.), KLS Martin Group (U.S.), STILLE (Sweden), Sklar Surgical Instruments (U.S.), Symmetry Surgical Inc. (U.S.), Delacroix-Chevalier (France), Wexler Surgical (U.S.), Surgins (U.K.), Surtex Instruments Ltd.
(U.K.), Cardivon Surgical Inc. (China), Rumex International Corporation (U.S.), and Scanlan International (U.S.).
In cardiac surgery instruments market, company profiles comprise basic views on key players and what product portfolios, developments, and strategies they adopted. Above mentioned market research data, current market sizes, and forecast of future trends will help key players and new entrants make informed decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, and levels of output to remain successful in the cardiac surgery instruments market.
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