Global Cardiac Surgery Instruments Market by Application (Coronary Artery Bypass Grafting, Heart Valve Surgery), by Product (Scissors, Clamps, Forceps) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

Global cardiac surgery instruments market was valued at USD 1.6 million in 2018. It is expected to grow at 6.6% CAGR over the forecast period. The American Heart Association estimates that at least 48.0% Americans have some type of cardiovascular condition. This can be attributed to rising healthcare investment and technological advances.

This market is driven by the rapidly growing aging population. WHO predicts that the world's geriatric population will nearly double between 2015 and 2050, from 12.0% to 22,0%. Market forces expected to drive this market include a rise of congenital defects and vascular dysfunction in the elderly population. Cardiovascular conditions are becoming more common due to inactivity and unhealthy lifestyles.

Heart disease is a leading cause of death in the world. The WHO estimates that approximately 17.9 million people are affected by cardiovascular disease. This accounts for 31.0% of all deaths in the world. Around 23.6 million people will die from cardiovascular diseases by 2030. A substantial portion of these deaths can be attributed to tobacco and smoking.

According to American Heart Association Research, more than 8 million Americans died from cardiovascular disease in 2016. These diseases are more common than cancer and chronic lower respiratory disease combined. Heart disease kills approximately 2,300 Americans each day. This is an average of one death every 38 second.

There is also a shortage in active cardiac surgeons around the world. These conditions are currently responsible for one-third of all deaths in the world and will likely continue to be the leading cause of morbidity and mortality. Due to a declining number of entrants as well as ongoing retirements, the number of cardiac surgeons will decrease by 21% in the forecast period. The rising number of cardiac surgery and a growing geriatric population with a higher predisposition to heart disease mean that the demand for cardiac surgeons will increase by 21% over the forecast period. This is based on current demand and patterns in health care. This growing demand will create significant opportunities for both manufacturers and doctors in the market for cardiac surgery instruments.

Product Insight

The market can be divided by product into forceps and graspers, clamps or scissors, as well as needle holders. The largest market share was held by the forceps segment, which is expected to grow at the fastest rate. This is due to the increasing number of cardiac surgeries as well as the availability of various types of forceps, including grasping and vascular forceps. The frequent use of forceps during cardiac surgery is another factor that has contributed to this growth. A significant share of the needle holder market is held by surgeons and doctors. This segment is expected grow at an 8.4% CAGR over the forecast period. Doctors and surgeons use needle holders to hold a suturing tool for closing wounds.

Also, the scissors market is expected to grow rapidly and is second after forceps. Due to its use in cardiac surgeries such as heart transplants, coronary artery, pediatric surgeries, and heart valve surgery, this market is expected grow at 6.9% CAGR over the forecast period. There are many sizes and shapes available for different types of surgeries.

Application Insight

The market for cardiac surgery instruments can be divided into three segments based on their application: heart valve surgery (CABG), Coronary Artery Bypass Grafting(CABG), pediatric heart surgery, and heart transplant. The market was dominated by CABG and will continue to grow in the future. The segment CABG dominated the market in 2018, and it is expected to continue growing significantly during the forecast period. Coronary artery disease refers to a narrowing in the coronary arteries due to fatty buildup. This condition can be treated with surgery. Therefore, it is expected that the disease will increase in incidence.

Devices for heart valve surgery are used to treat heart failure, stroke, and bloodclots. Open surgery is the most common way to treat a diseased valve. This market segment is second in size, due to an increasing number of heart valve surgery. It is expected to grow at 6.81% CAGR over the forecast period. This segment is driven primarily by lifestyle factors such as alcohol consumption & physical inactivity; hypertension; diabetes; or hyperlipidemia.

End-use Insights

The market can be divided by end-use into hospitals and ambulatory surgery centers. Over the forecast period, the hospital segment will hold the largest share. This is due to a well-developed infrastructure, high footfall and an increase in healthcare spending. This segment is also expected to grow due to an increase in surgeries and the rising prevalence of other diseases. Growth is also being driven by the increasing number of medical facilities around the globe, which are a result of government initiatives. Growth is also aided by an increase in operating rooms, which are a result of the high demand for cardiac surgery.

The growth of ambulatory surgical centers is also expected to accelerate over the next seven years. This growth can be attributed to factors like shorter hospital stays, lower costs of treatment, same-day surgeries, and improvements in the number of ambulatory surgical center establishments in developing countries. These centers offer preoperative and postoperative care to patients. This segment is expected to grow at an impressive pace during the forecast period.

Regional Insights

Due to its well-established healthcare sector, North America was the dominant market in 2018. The region is expected to see an increase in surgeries and a rising prevalence of cardiac diseases. The adoption of modern tools and devices for surgery drives growth. Europe will also be expected to gain a significant market share due to its growing geriatric population. Growth is further aided by improvements in the healthcare sector, and the growing use of advanced medical products.

Asia Pacific is predicted to experience the fastest growth rate. Growth is aided by improvements in healthcare and improved reimbursement policies in developing countries. China was the market leader in 2018 due to its high geriatric population, and fast-developing economy. The growth is expected to be supported by a rising number of cardiac surgeries during the forecast period.

Market Share in Cardiac Surgery Instruments

B. Braun Melsungen AG, KLS Martin Group; Sklar Surgical Instruments, Teleflex Incorporated, Symmetry Surgical, Inc.; STILLE.

These players launch new products and accessories, as well as participate in technological advances as well as strategic initiatives such as mergers and acquisitions. Teleflex Incorporated purchased Vascular Solution, Inc. in December 2016 for USD 56 per share. Teleflex acquired Vascular Solution, Inc. for USD 56 per share in cash.

This Report Covers Segment

This report provides a forecast of revenue growth at the global, regional, and country levels. It also analyzes the industry's latest trends and opportunities for each sub-segment from 2015 to 2026. Grand View Research has divided the global market for cardiac surgery instruments on the basis product, application, end-use, and location.

• Product Outlook (Revenue USD Million, 2015-2026)

  • Forks

  • Clamps

  • Scalpels

  • Scissors

  • Holders for Needle

  • Other

• Application Outlook (Revenue USD Million, 2015-2026)

  • Coronary Artery Bypass Grafting

  • Heart Valve Surgery

  • Pediatric Surgery

  • Heart Transplant

  • Other

• End-use Outlook (Revenue USD Million, 2015-2026)

  • Hospitals

  • Ambulatory Surgical Centers

• Regional Outlook (Revenue USD Million, 2015-2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE

Up Market Research published a new report titled “Cardiac Surgery Instruments Market research report which is segmented by Application (Coronary Artery Bypass Grafting, Heart Valve Surgery), by Product (Scissors, Clamps, Forceps), By Players/Companies Forceps, Scissors, Product Outlook (Revenue USD Million 2015 - 2026)ForcepsClampsScalpelsScissorsNeedle HoldersOthers, Scalpels, Clamps, Needle Holders, Others”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Cardiac Surgery Instruments Market Report Segments:

The market is segmented by Application (Coronary Artery Bypass Grafting, Heart Valve Surgery), by Product (Scissors, Clamps, Forceps).

Cardiac Surgery Instruments Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Cardiac Surgery Instruments Market

Overview of the regional outlook of the Cardiac Surgery Instruments Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Cardiac Surgery Instruments Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Cardiac Surgery Instruments Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Coronary Artery Bypass Grafting

                2. Heart Valve Surgery

                1. Scissors

                2. Clamps

                3. Forceps

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Cardiac Surgery Instruments Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Cardiac Surgery Instruments Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.