Global Cardiac Surgery Instruments Market Segmentation, By Instrument Type (Forceps, Scissors, Clamps and Dilators, Needle Holders and Needles, Retractors and Rongeurs, Others), Sales Channel (Online Retailing, Offline Retailing), Application (Coronary Artery Bypass Grafting (CABG), Heart Valve Repair and Replacement, Implantable Cardioverter Defibrillator (ICD), Paediatric Cardiac Surgery, Heart Transplant, Others), End User (Hospitals, Cardiac Clinics, Ambulatory Surgery Centres, Others), – Industry Trends and Forecast to 2031.
Cardiac Surgery Instruments Market Analysis
The primary causes of heart disease in people all over the world are junk food consumption, sedentary lifestyles, and mental stress. According to the WHO, approximately 17.9 million people die from cardiovascular diseases each year, accounting for approximately 31.0 percent of all deaths worldwide. Around 23.6 million people are expected to die from cardiovascular diseases by 2030. Furthermore, smoking and tobacco consumption may be responsible for a significant number of these deaths.
Cardiac Surgery Instruments Market Size
Global cardiac surgery instruments market size was valued at USD 1.96 billion in 2023 and is projected to reach USD 2.58 billion by 2031, with a CAGR of 3.50% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Cardiac Surgery Instruments Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Global (APAC) in the Global (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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STERIS. (US), Steelco S.p.A. (Italy), Schülke & Mayr GmbH (Germany), O&M Halyard (US), Bergen Group of Companies (India), Ecolab (US), Tristel (US), Belimed (Switzerland), ASP (US), Getinge AB. (Sweden), JAYCO, INC. (US), MMM Group (Germany), Cantel Medical, MATACHANA GROUP (Spain), Huaiyin Medical Instruments Co.,Ltd (China), TSO3 (Canada), SAKURA SI CO., LTD. (Japan), Crest Ultrasonics Corporation (China), McKesson Medical-Surgical Inc. (US).
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Cardiac Surgery Instruments Market Definition
Cardiac surgery is surgery performed on the heart or large vessels by cardiac surgeons. The surgery also necessitates a heart transplant. For any procedure, three types of surgical instruments are typically used. Needles, scissors, retractors, peripheral vascular, aorta, and anastomosis clamps, paediatric instruments, titanium micro instruments, and other instruments are among those available.
Cardiac surgery instruments Market Dynamics
Drivers
- The rise in the cases of cardiovascular diseases around the world
The rise in the prevalence of Cardiovascular Diseases (CVDs) around the world is one of the major factors driving the growth of the cardiac surgery instruments market. The introduction of technologically advanced pacemakers, such as leadless pacemakers and MRI safe pacemakers, as well as favourable government policies, propels the market forward.
The advancement in medical products in healthcare sector
Growing adoption of advanced medical products and improvements in the healthcare sector, as well as a rising number of technological advancements, will all contribute to the growth of the cardiac surgery instruments market over the forecasted timeframe.
- Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the cardiac surgery instruments market.
Opportunities
The rising number of patients suffering from cardiac disorders, the rising number of surgical procedures, the rising prevalence of geriatric population around the world, the rising level of investment for the growth of the healthcare sector, the rising prevalence of favourable government policies, sedentary lifestyle, junk food consumption, and mental stress are some of the major and vital factors that will likely augment the growth of the cardiac surgery instruments market..
Restraints/Challenges
Increasing adoption of alternative surgical methods, as well as a scarcity of professional cardiac surgeons, will likely act as market restraints for the growth of cardiac surgery instruments over the forecasted timeframe. Stringent government regulation of medical devices, as well as price caps for medical devices, will be the biggest and most pressing challenge to the market's growth.
This cardiac surgery instruments market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cardiac surgery instruments market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Cardiac Surgery Instruments Market
The COVID-19 pandemic is expected to have a negative impact on the growth of the cardiac pacemaker market. Many countries have suffered and continue to bear a significant burden on both their economies and healthcare systems as a result of the high transmission rate and lack of treatment. Many countries have gone into lockdown, suspending trade with other countries, imposing travel restrictions, and so on, resulting in a drop in the market capitalizations of major companies around the world.
Cardiac Surgery Instruments Market Scope
The cardiac surgery instruments market is segmented on the basis of instrument type, sales channel, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Instrument Type
- Forceps
- Scissors
- Clamps and dilators
- Needle holders and needle
- Retractors and rongeurs
- others
Based on instrument type, the cardiac surgery instruments market is segmented into forceps, scissors, clamps and dilators, needle holders and needles, retractors and rongeurs, and others. Forceps have been further segmented into vascular forceps, grasping forceps, and other forceps.
Sales channel
- Online retailing
- Offline retailing
Based on sales channel, the cardiac surgery instruments market is segmented into online retailing, and offline retailing.
Application
- Coronary artery bypass grafting
- Heart valve repair and replacement
- Implantable cardioverter defibrillator
- Paediatric cardiac surgery
- Heart transplant
- Others
On the basis of application, the cardiac surgery instruments market is segmented into coronary artery bypass grafting (CABG), heart valve repair and replacement, implantable cardioverter defibrillator (ICD), paediatric cardiac surgery, heart transplant, and others.
End User
- Cardiac centres
- Ambulatory surgical centres
- Hospitals
- Clinics
Cardiac surgery instruments market has also been segmented based on the end user into hospitals, cardiac clinics, ambulatory surgery centres, and others.
Cardiac Surgery Instruments Market Regional Analysis
The cardiac surgery instruments market is analysed and market size insights and trends are provided by country, instrument type, sales channel, application and end users as referenced above.
The countries covered in the cardiac surgery instruments market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cardiac surgery instruments market due to the increasing prevalence of cardiac disorders as well as the increasing adoption of advanced tools and devices for surgeries in the region, whereas Asia-Pacific is expected to grow at the fastest rate during the forecast period due to the region's increasing geriatric population as well as the rising number of cardiac surgeries.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The cardiac surgery instruments market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cardiac surgery instruments market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cardiac surgery instruments market. The data is available for historic period 2010-2020.
Cardiac Surgery Instruments Market Share
The cardiac surgery instruments market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cardiac surgery instruments market.
Cardiac Surgery Instruments Market Leaders Operating in the Market Are:
- STERIS. (US)
- Steelco S.p.A. (Italy)
- Schülke & Mayr GmbH (Germany)
- O&M Halyard (US)
- Bergen Group of Companies (India)
- Ecolab (US)
- Tristel (US)
- Belimed (Switzerland)
- ASP (US)
- Getinge AB. (Sweden)
- JAYCO, INC. (US)
- MMM Group (Germany)
- MATACHANA GROUP (Spain)
- Huaiyin Medical Instruments Co.,Ltd (China)
- TSO3 (Canada)
- SAKURA SI CO., LTD. (Japan)
- Crest Ultrasonics Corporation (China)
- McKesson Medical-Surgical Inc. (US).
Latest Developments in Cardiac Surgery Instruments Market
- Medtronic Private Limited will launch Azure Pacemaker BlueSync technology in India in October 2020. This technology can communicate with patients' smartphones and tablets directly
- Medtronic PLC received US FDA approval for its Leadless Micra AV, the world's smallest pacemaker with atrioventricular (AV) synchrony, in February 2020
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