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Global Cardiac Surgery Instruments Market Poised to Reach at a CAGR of 7.3% by 2024
"Global Cardiac Surgery Instruments Market" ? Industry Trends and Forecast to 2024
The “Global Cardiac Surgery Instruments Market” accounted to USD 1.12 billion in 2016 growing at a CAGR of 7.3% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Cardiac surgery instruments are the specialized instruments and products which are designed to meet the demanding needs of cardiovascular surgeons. The instrument must maintain its quality and design along with fine delicate microsurgical instruments for precise procedure. Some of the instruments are needle holder, scissors, retractors, peripheral vascular, aorta and anastomosis clamps, pediatric instrument, titanium micro instruments and many more.
Major Market Drivers and Restraints: Global Cardiac Surgery Instruments Market
• Rising prevalence of cardiac problems
• Growth in geriatric population
• Increasing number of surgical procedure
• More investment and grants by government bodies
• Adoption of alternative surgical methodology
Market Segmentation: Global Cardiac Surgery Instruments Market
On the basis of product, global cardiac surgery instruments market is segmented into clamps, forceps, scalpel, scissors and needle holder. Forceps accounted the largest market share due to its repetitive use and increasing number of cardiac surgery in 2016.
On the basis of application, global cardiac surgery instruments market is segmented into coronary artery bypass graft, heart valve surgery, pediatric surgery, and heart transplant. Here, coronary artery bypass graft is expected to witness the highest CAGR in the forecast period 2017-2024 due to more number of surgical procedures and increase in cardiac diseases.
On the basis of end user, global cardiac surgery instruments market is segmented into hospital and ambulatory surgery centre (ASC). Hospital is expected the highest market growth in the forecast period due to improved healthcare structure, treatment, increasing number of patients and aging population.
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On the basis of geography, global cardiac surgery instruments market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Cardiac Surgery Instruments Market
The global cardiac surgery instruments market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes cardiac surgery instruments market shares for global, Europe, North America, Asia Pacific, and South America.
Major Market Competitors: Global Cardiac Surgery Instruments Market
Some of the major players operating in global cardiac surgery instruments market are B. Braun Melsungen AG, Becton, Dickinson and Company, KLS Martin, Sklar Surgical Instruments, Teleflex Incorporated, Symmetry Surgical Inc., STILLE, Delacroix-Chevalier, Cardivon Surgical Inc., Wexler Surgical, Medicon eG, Surgins, Scanlan International, Rumex International Corporation, and Taurus Instruments GmbH among others.
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