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Cardiac Surgery Instruments Market To Reach USD 2.06 Billion By 2027 – Reports and Data

The growing prevalence of cardiovascular diseases and high investments in the R&D of modern cardiac surgery instruments is propelling market growth. The Global Cardiac Surgery Instruments Market size is estimated to reach USD 2.06 billion from USD 1.23 billion in 2019, delivering a CAGR of 6.7% through 2027. The market growth is driven by the growing prevalence…

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The growing prevalence of cardiovascular diseases and high investments in the R&D of modern cardiac surgery instruments is propelling market growth.

The Global Cardiac Surgery Instruments Market size is estimated to reach USD 2.06 billion from USD 1.23 billion in 2019, delivering a CAGR of 6.7% through 2027. The market growth is driven by the growing prevalence of cardiac diseases and an associated rise in the number of cardiac surgeries performed annually around the world.

Cardiovascular diseases are one of the leading concerns of death in the world, primarily in Asian countries. Nearly 60% of the total CVD cases in the world are from the APAC region only. Increasing degradation in the lifestyle with an unhealthy lifestyle, bad eating habits, hypertension, smoking, and others are some of the key reasons leading to increasing cases of coronary artery disease, diabetes mellitus, dyslipidemia, and other ischemic heart diseases.

The increasing implementation of invasive cardiac surgery instruments in several hospitals and cardiac clinics by surgeons to fulfill the immense requirement of cardiovascular and cardiothoracic surgical treatments is likely to boost cardiac surgery instruments market growth. The expansion of online distribution channels in the emerging economies is bolstering the net sales amount of the product considerably. Moreover, the increasing success rate of heart transplant surgeries will supplement the global cardiac surgery instruments market share over the forecast period.

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Further key findings from the report suggest

  • Based on application, the Coronary Artery Bypass Grafting (CABG) segment is estimated to witness a CAGR of 6.6% over the analysis period. Cardiac surgery instruments are witnessing high demand for minimally invasive CABG methods as the surgery requires instruments proficient in making small cuts.
  • The heart valve repair & replacement segment is estimated to account for 21.1% of the cardiac surgery instruments market share, exhibiting a CAGR of 5.2% through 2027.
  • Based on instruments, the clamps & dilators segment is anticipated to account for 17.5% of the cardiac surgery instruments market, delivering a CAGR of 5.3% through 2027.
  • The needle holders & needles sub-segment accounted for 21.3% of the market revenue share in 2019 and is forecast to showcase a growth rate of 5.4% over the analysis period.
  • On the basis of sales channel, the online retail channel is expected to grow at a CAGR of 7.4% through 2027. The robust growth can be attributed to the increasing popularity of online retailing of medical instruments as online retailers offer reduced prices compared to the offline vendors on account of no involvement of the distributor chains in the process.
  • In terms of end-use, the cardiac segment is estimated to register a CAGR of 3.4%, generating USD 0.38 Billion in terms of revenue by 2027.
  • The ambulatory surgery centers segment accounted for USD 0.18 Billion in terms of revenue generation in 2018 and is expected to exhibit a CAGR of 9.1% over the analysis period.
  • North America dominated the market 34.4% share in 2019 and is set to witness substantial growth through 2027 due to increasing incidences of coronary heart diseases and the exponential growth of ambulatory surgery centers in the region.
  • Europe region is estimated to account for 27.6% of the market share, exhibiting a growth rate of 6.3% during the forecast period.
  • APAC region is forecast to showcase the fastest growth rate of 9.3% over the analysis period and owing to a record number of cardiac patients in China, Japan, and India, impressive advancements in the healthcare industry, and exponential growth in the number of super-specialty cardio-centric hospitals in the region.
  • Key participants in the global cardiac surgery instruments market include Becton, B. Braun Melsungen AG, Dickinson and Company, Sklar Surgical Instruments, Jarvis Surgical, Inc., Symmetry Surgical Inc., Rumex International Corporation, Fehling Surgical Instruments, Inc., Surtex Instruments Ltd., Delacroix-Chevalier, and Geister Medizintechnik GmbH, among others.
  • In January 2020, Symmetry Surgical, Inc., a leading surgical instrumentation and solutions company, completed the acquisition of The O.R. Company, which develops, manufactures, and markets innovative surgical devices for minimally invasive and open surgeries.

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For the purpose of this report, Reports and Data has segmented The Global Cardiac Surgery Instruments Market on the basis of instrument type, sales channel, application, end-user, and region:

Instrument Type Outlook (Revenue, USD Billion; 2017-2027)

  • Forceps & Scissors
  • Clamps & Dilators
  • Needle Holders & Needles
  • Retractors & Rongeurs
  • Others

Sales Channel Outlook (Revenue, USD Billion; 2017-2027)

  • Online Retailing
  • Offline Retailing

Application Outlook (Revenue, USD Billion; 2017-2027)

  • Coronary Artery Bypass Grafting (CABG)
  • Heart Valve Repair & Replacement
  • Implantable Cardioverter Defibrillator (ICD)
  • Pediatric Cardiac Surgery
  • Heart Transplant
  • Others

End-User Outlook (Revenue, USD Billion; 2017-2027)

  • Hospitals
  • Cardiac Clinics
  • Ambulatory Surgery Centers
  • Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

  • North America
    • U.S.
  • Europe
    • U.K.
    • France
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • Middle East & Africa

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Key Questions Answered by the Report:

  • What are the key growth driving and restraining factors of the Cardiac Surgery Instruments market?
  • What are key opportunities and growth prospects of the Cardiac Surgery Instruments industry is expected to witness over the forecast period?
  • Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
  • Which region is expected to dominate the market growth over the forecast period?
  • Which segments are expected to register lucrative growth over the forecast period?
  • What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?

Thank you for reading our report. Please connect with us to know more about the report or for requesting customization of the report. Our team will ensure the report is best suited to meet your requirements.

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The post Cardiac Surgery Instruments Market To Reach USD 2.06 Billion By 2027 – Reports and Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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