The global cardiac surgery instruments market size is expected to reach USD 2.7 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.6%. Increase in the number of cardiac surgeries & procedures and technological advancements are some factors expected to drive the market. Moreover, high incidence of cardiac diseases and availability of various surgical procedures are expected to boost the adoption of cardiac surgery instruments during the forecast period.
Technological advancements in the field of cardiac surgery instruments are considered a key driver of this market. Several key players are investing in R&D for launching innovative and novel products. Moreover, sedentary & poor lifestyle, which result in diabetes, obesity, & poor diet; smoking; and excessive alcohol consumption have also increased the predisposition to heart diseases.
Furthermore, increase in aging population and rising healthcare expenditure in emerging economies are among the factors likely to boost the number of cardiac surgeries during the forecast period. These factors are anticipated to positively influence revenue generation. According to the U.S. Census Bureau, the global healthcare spending is anticipated to increase to USD 18.28 trillion by 2040, growing at a CAGR of 2.6%. According to WHO, the world’s population aged 60 years and above is expected to reach 2 billion by 2050, from 900 million in 2015.
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Key Takeaways Of The Report :
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North America accounted for the largest share of over 40.0%, owing to favorable reimbursement policies, local presence of key players, and increase in number of heart patients as well as government initiatives
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Asian countries are estimated to show highest growth rate, driven by advancing technology, increasing investments, improving reimbursement scenarios, low cost of treatment, and increasing medical tourism
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Forceps segment accounted for the highest share and is expected to exhibit the highest growth rate
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Based on application, coronary artery bypass grafting captured the largest share and is expected to be the fastest growing segment
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Some of the major players are KLS Martin Group; Sklar Surgical Instruments; B. Braun Melsungen AG; Teleflex Incorporated; Symmetry Surgical, Inc; STILLE; Cardivon Surgical Inc.; Delacroix-Chevalier (France); Boss Instruments Ltd (U.S.); Wexler Surgical (U.S.); Medicon eG (Germany); Surgins (U.K.); Scanlan International (U.S.); Rumex International Co. (U.S.); and SIM Surgical (U.S.).
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Grand View Research has segmented the global cardiac surgery instruments market report on the basis of type, application, end use, and region:
Cardiac Surgery Instruments Product Outlook (Revenue, USD Million, 2015 - 2026)
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Forceps
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Clamps
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Scalpels
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Scissors
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Needle Holders
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Others
Cardiac Surgery Instruments Application Outlook (Revenue, USD Million, 2015 - 2026)
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Coronary Artery Bypass Graft
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Heart Valve Surgery
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Pediatric Surgery
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Heart Transplant
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Others
Cardiac Surgery Instruments End-use Outlook (Revenue, USD Million, 2015 - 2026)
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Hospitals
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Ambulatory Surgical Centers
Cardiac Surgery Instruments Regional Outlook (Revenue, USD Million, 2015 - 2026)
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North America
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U.S.
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Canada
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Europe
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Germany
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U.K.
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France
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Italy
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Spain
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Asia Pacific
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Japan
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China
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India
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Australia
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South Korea
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Latin America
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Brazil
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Mexico
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Argentina
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Colombia
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MEA
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South Africa
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Saudi Arabia
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UAE
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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