As Per the Report, the Size of the Global Cardiac Surgery Devices Market was valued at USD 2.06 billion in 2021 and estimated to be growing at a CAGR of 3.18%, to reach USD 2.41 billion by 2026 during the forecast period 2021 to 2026.
Industry overview
Cardiovascular surgical devices are the medical equipment that helps in cardiac surgical treatments with efficient and economic measures. These medical devices have been developed to assist sophisticated technologies for parents with chronic cardiovascular infections. According to the report published by the World Health Organization, it is estimated that cardiovascular disorders witnessed around 17.7 million or 31% of global deaths in 2015.
MARKET DRIVERS
The factors such as vascular malfunctions in geriatric populations, increase in obesity, and availability of devices that offer effective therapeutic cures with minimum risk drive the market growth of the cardiac surgery devices market. Further, the subsequent increase in the number of surgical procedures and increasing prevalence of cardiac conditions is expected to boost the market growth. Moreover, increasing investment and funding by the government and various private organizations to improve infrastructure facilities in the healthcare sector is primarily propelling the market growth of the cardiac surgical devices market over the forecast years.
MARKET RESTRAINTS
However, stringent government regulations associated with medical devices and high-cost expenditure for medical devices are projected to diminish the cardiac surgery devices market's market growth. Adoption of alternative surgical methods and inadequate medical payments impede the market growth.
IMPACT OF COVID-19 ON CARDIAC SURGERY DEVICES MARKET
The COVID-19 had negatively affected the cardiac surgical devices market during the initial period of 2020. The outbreak of Covid-19 was announced as the emergence of healthcare by the World Health Organization (WHO). The governments imposed nationwide lockdown and a ban on flights. Due to the sudden lockdown, the concerned activities on cardiac surgeries had been stopped and postponed; the market had experienced the downfall. However, the latter period of the pandemic has shown significant growth of the market. The usage of cardiac surgeries has been increased, and the market experienced the foremost growth. The market shares are expected to have their average growth by 2021.
REPORT COVERAGE
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REPORT METRIC |
DETAILS |
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Market Size Available |
2021 to 2026 |
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Base Year |
2020 |
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Forecast Period |
2021 to 2026 |
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Segments Analysed |
By Product, Type, Application, Age group, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
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Companies Analysed |
Trinity Biotech, Abiomed, Inc., Cardinal Health, C. R. Bard, Inc., MedWaves Incorporated, CyberHeart Incorporated, and Transmedics, Inc |
This research report on the Global Cardiac Surgery Devices Market has been segmented and sub-segmented into the following categories and calculated market size and forecast for each segment until 2026.
Cardiac surgery devices market- By product:
Based on the product segmentation, the perfusion disposables have recorded the largest market share during the forecast period. The increasing aging population and the rising prevalence of chronic diseases are expected to drive the disposable perfusion segment.
Cardiac Surgery Devices Market - By Application:
Based on the application, the cardiac surgery instrument market is segmented into heart valve surgery, Pediatric cardiac surgery and coronary Artery Bypass Grafting (CABG), and heart transplant. Among these procedures, the CABG accounted for the largest market share in 2018 with the increasing incidence of diseases and the growing number of elderly people.
Cardiac Surgery Devices Market - By Age group:
REGIONAL ANALYSIS
North America is one of the market-leading countries of cardiac surgical devices market. An increasing number of surgeries, well-established healthcare infrastructure facilities, and an increase in the prevalence of cardiac disease disorders are propelling cardiac surgical devices' market growth in this region.
Europe is accounted for the largest market share of the cardiac surgical devices market after North America. It is expected to have a significant share with the influential growth factors due to increased cardiovascular diseases, heart surgeries, and ventricular assist devices driving the market growth in Europe.
Asia Pacific is expected to have better growth with an increasing CAGR; the growth attributing factors such as reimbursement policies in emerging countries such as India and Japan and advancing surgical devices are expected to drive the cardiac surgical devices market.
Middle East & Africa is expected to have better growth during the forecast period. Improving medical health facilities and investments by the government helps the market growth of the cardiac surgical devices market in this region.
Prominent Companies dominating the Global Cardiac Surgery Devices Market Profiled in the Report are
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product Type
5.1.1 Cardiopulmonary Bypass Equipment
5.1.2 Beating Heart Surgery Systems
5.1.3 Perfusion Disposables
5.1.4 Cardiac Ablation Devices
5.1.5 Y-o-Y Growth Analysis, By Product Type
5.1.6 Market Attractiveness Analysis, By Product Type
5.1.7 Market Share Analysis, By Product Type
5.2 Application
5.2.1 Cardiac Arrhythmia
5.2.2 Coronary Heart Disease
5.2.3 Congenital Heart Defects
5.2.4 Congestive Heart Failure
5.2.5 Other Applications
5.2.6 Y-o-Y Growth Analysis, By Application
5.2.7 Market Attractiveness Analysis, By Application
5.2.8 Market Share Analysis, By Application
5.3 Age Group
5.3.1 New-born (0-30 days)
5.3.2 Infant (31 days-1 year)
5.3.3 Children (1-18 years)
5.3.4 Adult (18+ years)
5.3.5 Y-o-Y Growth Analysis, By Age Group
5.3.6 Market Attractiveness Analysis, By Age Group
5.3.7 Market Share Analysis, By Age Group
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Product Type
6.1.3.2 By Application
6.1.3.3 By Age Group
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Product Type
6.1.4.2 By Application
6.1.4.3 By Age Group
6.1.5 Market Share Analysis
6.1.5.1 By Product Type
6.1.5.2 By Application
6.1.5.3 By Age Group
6.2 North America
6.2.1 Introduction
6.2.2 United States
6.2.3 Canada
6.3 Europe
6.3.1 Introduction
6.3.2 U.K
6.3.3 Spain
6.3.4 Germany
6.3.5 Italy
6.3.6 France
6.4 Asia-Pacific
6.4.1 Introduction
6.4.2 China
6.4.3 India
6.4.4 Japan
6.4.5 Australia
6.4.6 South Korea
6.5 Latin America
6.5.1 Introduction
6.5.2 Brazil
6.5.3 Argentina
6.5.4 Mexico
6.5.5 Rest of Latin America
6.6 Middle East & Africa
6.6.1 Introduction
6.6.2 Middle-East
6.6.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Trinity Biotech
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Abiomed, Inc.
8.3 Cardinal Health
8.4 C. R. Bard
8.5 MedWaves Incorporated
8.6 CyberHeart Incorporated
8.7 Transmedics, Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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