Heart disease diagnosis segment is fastest growing segment fueling the growth of Cardiac Surgery Instrument Market
The global Cardiac Surgery Instrument Market is estimated to be valued at US$ 1.7 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cardiac surgery instruments such as forceps, clamps, scissors are used for performing various cardiac surgery procedures such as bypass surgery, heart transplant, heart valve repair and replacement. These instruments provide better control and precision for surgeons during surgeries thereby improving success rates of operations.
Market key trends:
Growing adoption of minimally invasive procedures owing to benefits such as less pain, lesser hospital stay and faster recovery is a major trend fuelling the growth of the cardiac surgery instruments market. Minimally invasive approaches are becoming increasingly popular alternatives to traditional open-heart surgeries. Another key trend is the rising preference for advanced instruments with added functionalities and features such as ergonomic design, finer tips and superior tactile feedback. These enhance the surgeon's control and ease of use during intricate cardiac surgeries. Technological advancements in biomaterials for better biocompatibility and products providing real-time imaging capabilities for better visualization are also gaining traction in the market.
Segment Analysis
The global cardiac surgery instruments market is segmented by product type, application, end-user, and region. By product type, the market can be categorized into forceps, clip appliers, scissors, needle holders, clamps, and other cardiac surgery instruments. Among these, forceps dominates the market and is expected to continue its dominance over the forecast period. This is attributed to its extensive usage during open-heart surgeries as it enables surgeons to securely hold tissues without damaging them.
Key Takeaways
The Global Cardiac Surgery Instrument Market Size is expected to witness high growth, exhibiting CAGR of 13% over the forecast period, due to increasing prevalence of cardiovascular diseases. The number of cardiac surgeries performed annually is rising globally due to the growing burden of heart conditions attributed to sedentary lifestyles and obesity.
The North American region currently dominates the cardiac surgery instrument market due to advanced healthcare facilities and supportive insurance coverage in the region. However, the Asia Pacific region is emerging as the fastest growing market due to improving access to healthcare and rising medical tourism in countries like India, China, and Japan.
Key players operating in the cardiac surgery instrument market include Medtronic, Edwards Lifesciences, Abbott Laboratories, Boston Scientific, LivaNova, Sorin Group, Terumo Corporation, Getinge AB, CryoLife, MicroPort Scientific Corporation, B. Braun Melsungen AG, Maquet, W. L. Gore & Associates, Stryker Corporation, and Merit Medical Systems. These players are focusing on new product launches and acquisitions to strengthen their market position.
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