Global Cardiac Surgical Devices Market Size By Product (Beating Heart Surgery Systems, Cardiopulmonary Bypass Equipment), By Application (Congenital Heart Defects, Cardiac Arrhythmia, Coronary Heart Disease), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Cardiac Surgical Devices Market Size By Product (Beating Heart Surgery Systems, Cardiopulmonary Bypass Equipment), By Application (Congenital Heart Defects, Cardiac Arrhythmia, Coronary Heart Disease), By Geographic Scope And Forecast
Cardiac Surgical Devices Market Size And Forecast
Cardiac Surgical Devices Market size was valued at USD 28.6797 Billion in 2024 and is projected to reach USD 43.351 Billion by 2031, growing at a CAGR of 5.30% from 2024 to 2031.
Due to the rising frequency of heart disorders worldwide, there are cardiac operations performed, which subsequently raises the need for cardiac surgical equipment. Additionally, new chances for the market to expand with a higher CAGR may arise because of numerous technical developments in cardiac surgical equipment. The Global Cardiac Surgical Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Cardiac Surgical Devices Market Definition
Cardiac surgical devices are essential for finding and fixing heart problems and other medical issues. When folks have heart troubles like congenital heart disease, valve problems, or ischemic heart disease, heart surgeons step in to perform cardiac surgery. Think of a "cardiac surgical device" as any tool used in an operation on the heart or a related blood vessel. You've got things like cardiopulmonary bypass machines, disposable perfusion supplies, tools for cardiac ablation, and even systems that let surgeons operate on a beating heart. And with heart problems becoming more common around the globe, the need for these cardiac surgery instruments is only going up!
Catheter ablation is a therapy for heart rhythm problems, like those pesky arrhythmias. And guess what? Companies like Medtronic offer all sorts of catheter ablation tools. With atrial fibrillation on the rise, it's expected that more people will need cardiac procedures in the future. Now, the cardiac surgical device market is buzzing with big names! We're talking about companies like Boston Scientific Corporation, Medtronic, and Abbott Laboratories. Plus, innovative solutions are popping up – Medtronic and Getinge are even working on easier "beating heart" surgery methods, so surgeons can operate even with the heart still pumping!
What's inside a industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
Global Cardiac Surgical Devices Market Overview
The main drivers of the worldwide demand for cardiovascular surgical devices are the growing incidence of cardiovascular illnesses and the aging population. In addition, it is expected that rising sedentary lifestyles, co-morbidities, excessive cigarette use, diabetes, and an increase in the number of obese individuals would drive the worldwide market for cardiovascular surgical devices. Additionally, new developments in medical device technology are boosting the industry’s expansion.
For instance, the development of a suture-less big bore closure device is predicted to increase the worldwide market for cardiovascular surgical devices. Nevertheless is projected that the expansion of the cardiovascular surgical devices market would be slowed during the forecast period due to cost restrictions connected with these devices and a shortage of experienced experts in underdeveloped and emerging countries of the world. Furthermore, the market for cardiac surgical equipment has been restrained by a rise in the use of alternative surgical technology, which has led to a decline in the use of traditional surgical techniques.
The market for cardiac surgical devices may have new growth prospects with a higher CAGR as a result of numerous technological developments. For instance, Abbott India introduced a gadget in 2021 to repair congenital cardiac abnormalities in preterm infants. The smallest newborns (weighing as low as 700 gms) can have the Amplatzer Piccolo, the world’s first medical device, implanted utilizing a minimally invasive method to treat patent ductus arteriosus (PDA). One-fifth of the 240,000 infants born in India had congenital cardiac abnormalities
The Global Cardiac Surgical Devices Market Segmentation Analysis
The Global Cardiac Surgical Devices Market is segmented based on Product, Application, and Geography.
Cardiac Surgical Devices Market, By Product
Cardiopulmonary Bypass Equipment
Perfusion Disposables
Beating Heart Surgery Systems
Cardiac Ablation Devices
When it comes to Product, the market's divided into a few key areasBeating Heart Surgery Systems, Cardiopulmonary Bypass Equipment, Cardiac Ablation Devices, and Perfusion Disposables. Right now, Cardiopulmonary Bypass Equipment is leading the pack, holding the biggest slice of the market in 2022, and experts are predicting it'll keep growing at a good clip. These machines take over the job of your heart and lungs temporarily during surgery, keeping your blood flowing and getting you oxygen. Some of the big names making these machines include Medtronic, Sorin, and Terumo. Looking ahead, we expect to see more demand for this equipment. Why? Because medical device companies are putting more effort into research and development to create even better cardiopulmonary products, and unfortunately, we're also seeing more cardiovascular problems.
Cardiac Surgical Devices Market, By Application
Coronary Heart Disease
Cardiac Arrhythmia
Congenital Heart Defects
Congestive Heart Failure
When we look at the different Applications, the heart health market breaks down into things like congenital Heart Defects, Cardiac Arrhythmia, Coronary Heart Disease, and Congestive Heart Failure. Coronary Heart Disease really led the pack in 2022, grabbing the biggest piece of the market, and we expect it to keep growing the fastest moving forward. You know, coronary artery disease is super common – the Centers for Disease Control and Prevention says it impacts million of adult Americans. It's a major health issue in the US and a leading cause of death over in the UK. And because it often needs surgery to fix, the fact that it's becoming more common is probably going to fuel even more growth in the market.
Cardiac Surgical Devices Market, By Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Based on regional analysis, the Global Cardiac Surgical Devices Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America accounted for the largest market share and is projected to grow at a significant CAGR during the forecast period. Due to a larger penetration of technologically advanced medical equipment in the area, particularly in the United States, North America has a prominent position. In the US, numerous open heart procedures are carried out annually. Additionally, there are businesses in the US that provide a wide range of cardiac surgery instruments.
Key Players
The “Global Cardiac Surgical Devices Market” study report will provide valuable insight with an emphasis on the global market including The major players in the market are; Getinge Group, Atrion Corporation, Johnson & Johnson, Abbott Laboratories, Sorin S.P.A. (Livanova), Medtronic, Boston Scientific Corporation, Edwards Life Science Corporation, Terumo Medical Corporation, Cook Medical. among others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Key Developments
In 2022, To increase the variety of cardiac ablation procedures it offers, Medtronic purchased Boston-based medical device manufacturer Affera Inc. Affera develops and produces catheter-based cardiac ablation technologies as well as electrophysiology (EP) cardiac mapping and navigation devices. To increase the variety of cardiac ablation procedures it offers, Medtronic purchased Boston-based medical device manufacturer Affera Inc. Affera develops and produces catheter-based cardiac ablation technologies as well as electrophysiology (EP) cardiac mapping and navigation devices.
In June 2021, Boston Scientific Exercises Option to Acquire Farapulse, Inc., Acquisition complements the company’s electrophysiology portfolio to include the only commercially available cardiac pulsed-field ablation technology.
In 2020, Boston Scientific Corporation signed an investment agreement with an exclusive option to acquire Farapulse, Inc., a privately held company developing a pulsed field ablation (PFA) system for the treatment of atrial fibrillation (AF) and other cardiac arrhythmias.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Cardiac Surgical Devices Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Cardiac Surgical Devices Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Getinge Group, Atrion Corporation, Johnson & Johnson, Abbott Laboratories, Sorin S.P.A. (Livanova), Medtronic, Boston Scientific Corporation.
SEGMENTS COVERED
By Product
By Application
By Geography
CUSTOMIZATION SCOPE
Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
For a single, multi and corporate client license, the report will be available in PDF format.
Sample report would be given you in excel format. For more questions please contact:
Sample Report for Global Cardiac Surgical Devices Market Size By Product (Beating Heart Surgery Systems, Cardiopulmonary Bypass Equipment), By Application (Congenital Heart Defects, Cardiac Arrhythmia, Coronary Heart Disease), By Geographic Scope And Forecast