The global cardiovascular needle market witnessed robust growth, reaching a valuation of approximately USD 85.2 Million by the end of 2021. A comprehensive analysis by FMI projects a steady Compound Annual Growth Rate (CAGR) of 7.5% for the market, foreseeing it to exceed USD 188.4 Million by 2032.
Cardiovascular diseases (CVDs) encompass a spectrum of conditions, including cerebrovascular disease, coronary heart disease, rheumatic heart disease, among others, posing significant health challenges worldwide. Lifestyle factors such as smoking, poor diet, and physical inactivity elevate the risk of heart attacks and strokes, underscoring the critical need for advanced medical interventions and treatments.
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The demand for cardiovascular needles remains closely tied to intricate surgical procedures vital in addressing CVDs. Open heart surgeries, cardiac valve procedures, heart transplants, and coronary artery bypass graft treatments necessitate precision instruments like cardiovascular needles. These needles, available in both single-use and multiple-use variants, play a pivotal role in ensuring procedural success and patient safety.
The burgeoning market for cardiovascular needles is witnessing notable advancements in materials and manufacturing techniques. Stainless steel alloys, including Surgalloy and Ethalloy, with high concentrations of nickel, are emerging as preferred choices for manufacturing cardiovascular needles, owing to their superior durability and biocompatibility.
“As cardiovascular diseases continue to pose significant health challenges globally, the demand for advanced medical devices such as cardiovascular needles is set to escalate,” remarked FMI. “Innovations in materials and manufacturing processes are anticipated to further enhance the efficacy and safety of cardiovascular procedures, driving market growth in the coming years.”
The major drivers boosting the demand for the cardiovascular needle market:
- Rising Prevalence of Cardiovascular Diseases (CVDs): As you mentioned, CVDs are the leading cause of death globally according to WHO. This unfortunately high disease burden translates to a greater need for cardiovascular procedures, which in turn increases the demand for cardiovascular needles.
- Growing Geriatric Population: The global population is aging, with a significant rise in the elderly population. As people age, their risk of developing CVDs increases. This growing demographic segment with a higher risk of needing cardiovascular procedures fuels the market for cardiovascular needles.
- Unhealthy Lifestyle Choices: The text points to unhealthy lifestyle factors like high smoking rates, obesity, and lack of physical activity as contributing factors. These choices increase the risk of CVDs, ultimately impacting the cardiovascular needle market.
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The global cardiovascular needle market is segmented into various regions, and each region has its own factors driving the market:
- North America: This region leads the market due to its advanced healthcare systems and development of innovative products like laser-drilled cardiovascular needles.
- Europe: Europe holds the second position with a strong presence of major manufacturers who not only cater to the European market but also export to developing countries.
- East Asia: This region is expected to see significant growth due to a large population susceptible to cardiovascular diseases, the availability of affordable surgical procedures, and the presence of skilled medical professionals.
Key Players:
- Medline Industries Inc.
- KLS Martin Group
- Sklar Surgical Instruments
- Delacroix-Chevalier
- Teleflex Incorporated
- Wexler Surgical
- Becton
- Dickinson and Company
- Surgins
- Surtex Instruments Ltd.
- STILLE
- Cardivon Surgical Inc.
- Symmetry Surgical Inc.
- B. Braun Melsungen AG
- Rumex International Corporation
- Scanlan International
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Key Segments Covered in the Cardiovascular Needle Market Report:
By Type:
- Round Bodied Needles
- Cutting Needles
By Application:
- Open-heart Surgery
- Coronary Artery Bypass Graft Surgery
- Cardiac Valve Procedures
- Heart Transplant
- Others
By Usage:
- Single Use
- Multiple Use
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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