The global cardiac surgery devices market is poised for steady growth, with a projected valuation of USD 1.7 billion by the end of 2022. According to the latest industry insights, the market is expected to expand at a Compound Annual Growth Rate (CAGR) of 3.6% during the forecast period from 2022 to 2032, reaching a market size of approximately USD 2.4 billion by 2032.
This growth is primarily driven by the rising prevalence of cardiovascular diseases (CVDs) worldwide, alongside continuous advancements in medical technology and the growing adoption of innovative cardiac surgery devices.
Key Takeaways :
- Rising Incidence of Cardiovascular Diseases
The increasing burden of cardiovascular diseases globally is a major driver of the market’s expansion. With CVDs being the leading cause of death in both developed and developing countries, the demand for cardiac surgery devices, including those for coronary artery bypass surgery, heart valve replacement, and other procedures, is expected to surge. - Dominance of Perfusion Disposables
In terms of product type, perfusion disposables led the market in 2021, accounting for about 59.1% of the total market share. These devices, which are essential for maintaining blood circulation during cardiac surgeries, are witnessing robust demand due to the increase in surgeries requiring perfusion support. - Technological Advancements
The market is also being fueled by innovations in cardiac surgery technologies, such as minimally invasive devices, advanced heart-lung machines, and enhanced surgical tools, which reduce recovery times, improve patient outcomes, and lower the risk of complications. - Regional Growth and Market Dynamics
North America continues to dominate the cardiac surgery devices market, driven by advanced healthcare infrastructure and high healthcare expenditure. However, regions such as Asia-Pacific are expected to show significant growth due to increasing healthcare investments and a growing elderly population in countries like India and China. - Increased Healthcare Investments
Significant investments in healthcare, particularly in surgical infrastructure and the adoption of advanced devices, are expected to further accelerate market growth. Additionally, government initiatives aimed at reducing the healthcare burden caused by cardiovascular diseases are also contributing to the market’s positive outlook.
Competitive Landscape
In the cardiac surgery devices market, manufacturers are adopting different strategies to raise their sales and gain revenue. Leading firms are implementing activities like advanced product launches and acquisitions to expand their product portfolio. A few of these strategies undertaken by cardiac surgery devices manufacturers are:
- On August 2022, the acquisition of Affera, Inc. has been completed, according to the announcement from Medtronic plc, a pioneer in healthcare technology worldwide. With this acquisition, the company’s offering for cardiac ablation is expanded to include its first-ever cardiac mapping and navigation platform, which combines a radiofrequency ablation solution with a targeted pulsed field and distinct diagnostic technology.
- On June 2020, the launch of DIRECTSENSE technology was declared by Boston Scientific in the USA It is a tool that is used for monitoring the effect of radiofrequency energy during the process of cardiac ablation.
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
- Edwards Lifesciences Corporation
- MicroPort Scientific Corporation,
- Smith Medical
- Abiomed, Inc
- Estech
- Cook Medical Inc
- Braile Biomedica
- Biotronik Inc.
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)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
