The global cardiac surgery devices market is on a robust growth trajectory, with projections indicating a valuation of approximately USD 1.7 billion by the end of 2022. This market is anticipated to expand at a compound annual growth rate (CAGR) of 3.6% during the forecast period from 2022 to 2032, ultimately reaching an estimated USD 2.4 billion by 2032.
The driving force behind this growth is the increasing prevalence of cardiovascular diseases, which continues to create a substantial demand for advanced surgical solutions. Among the various product types available in the market, perfusion disposables led the charge in 2021, accounting for approximately 59.1% of the market demand.
Cardiac surgery devices play a crucial role in open-heart procedures, enabling surgeons to repair structural defects within the cardiovascular system. These devices are essential for procedures such as coronary artery bypass grafting, the treatment of congenital heart defects, abdominal aortic aneurysm repair, ventricular remodeling, and the implantation of cardiac assist devices. Key devices like heart-lung machines are commonly utilized during cardiothoracic surgery to perform cardiopulmonary bypass, ensuring that patients receive the critical care they need during surgery.
As the global healthcare landscape evolves, the cardiac surgery devices market is poised to meet the growing needs of healthcare providers and patients alike. Stakeholders in the industry are encouraged to stay abreast of these developments to leverage opportunities for innovation and improved patient outcomes.
Key Takeaways from the Cardiac Surgery Devices Market Report:
Global Market Trends
- USA Dominance: The United States holds the largest market share, driven by high prevalence of cardiovascular diseases.
- Rising Demand: Increasing obesity rates and associated cardiovascular conditions are fueling demand for cardiac surgery devices.
- High Healthcare Costs: The high cost of healthcare in the USA contributes to the market growth.
Regional Market Trends
- India’s Growth: India is experiencing significant market growth due to increasing patient volume and lower costs compared to other countries.
- Germany’s Development: Germany’s strong healthcare infrastructure and medical tourism industry are driving demand for cardiac surgery devices.
Product and Procedure Trends
- Perfusion Disposables: This segment is growing due to increasing cases of valvular degeneration in the elderly population.
- Coronary Artery Bypass Grafting: This procedure is in high demand due to the rising prevalence of cardiovascular diseases.
- Hospitals: Hospitals are the primary end-users of cardiac surgery devices, benefiting from increased adoption of cardiac treatments and surgeries.
Overall, the cardiac surgery devices market is experiencing steady growth, driven by factors such as increasing prevalence of cardiovascular diseases, technological advancements, and rising healthcare costs.
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Competitive Landscape:
In the cardiac surgery devices market, manufacturers are employing a variety of strategies to enhance sales and boost revenue. Key players are focusing on initiatives such as advanced product launches and acquisitions to broaden their product offerings. Some notable strategies undertaken by cardiac surgery device manufacturers include:
- In August 2022, Medtronic plc, a global leader in healthcare technology, completed its acquisition of Affera, Inc. This strategic move enhances Medtronic’s cardiac ablation portfolio by introducing its first cardiac mapping and navigation platform, which integrates a radiofrequency ablation solution with targeted pulsed field technology and unique diagnostic capabilities.
- In June 2020, Boston Scientific announced the launch of DIRECTSENSE technology in the USA. This innovative tool is designed to monitor the effects of radiofrequency energy during cardiac ablation procedures.
Key Companies Profiled:
- Abbott Laboratories
- Medtronic Plc.
- Boston Scientific Corporation
- Lepu Medical Technology Co ltd
- LivaNova PLC
- Terumo Corporation
- Getinge-Maquet Germany Holding GmbH
- B. Braun Melsungen AG
- C. R. Bard, Inc
- Teleflex Incorporated
- Angiodynamics
Key Market Segments Covered in Cardiac Surgery Devices Market Research:
By Product:
- Heart Lung Machine
- Breathing Heart Surgery Systems
- Stabilizers
- Positioners
- Catheters
- Ablation Catheter
- Drainage Catheter
- Perfusion Disposables
- Oxygenators
- Centrifugal Pumps
- Cardioplegia Delivery System
By Procedure:
- Coronary Artery Bypass Grafting
- On Pump CABG
- Off-Pump CABG
- Minimally Invasive Surgery
By End User:
- Hospitals
- Ambulatory Surgical Centres
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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