Cardiac Surgery Devices Market is expected to reach US$ 2.4 Billion by 2032, at a CAGR of 3.6% | FMI

The global Cardiac Surgery Devices Market is estimated to be valued at US$ 1.7 billion by the end of 2022 and to grow at a CAGR of 3.6% during the forecast period. (2022 to 2032). Due to the increased frequency of cardiovascular illnesses, market sales are estimated to reach US$ 2.4 billion by 2032. In terms of product type, perfusion disposables led the market in 2021 with a demand share of around 59.1%.

Owing to the many technological progress happening in the industry and the development of cardiac surgery devices as per the patient requirement, the market for the same is likely to experience gradual expansion in the next few years. The rising prevalence of cardiac conditions have resulted in a swell in the demand for the cardiac surgical equipment.

As per a report by WHO, cardiovascular disease is a leading cause of death all over the world. This bodes well for the cardiac surgery device market. Again, many healthcare organizations are concentrating on expanding their facilities, products, and services which further propel the growth of the target market.

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Promising investments and initiatives by the government coupled with the launch of upgraded and innovative product lines from manufacturers is expected to augment the sales of cardiac surgery devices at the international level. Governments, particularly in developing countries, are assisting start-ups and MNCs to ensure the growth of the healthcare device sector.

Thus, a rise in government funding for the healthcare sector in countries like Japan, India, and China will foster an environment of growth for the target market at large. Again, a rise in chronic diseases and traumatic injuries in these nations will fuel the growth of the cardiac surgery device market during the assessment period.

“A surge in the market release of the target product coupled with the incorporation of cutting-edge technology into the same will propel the market growth of the cardiac surgery devices over the forecast period,” says an FMI analyst. 

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Key Takeaways:

• The expense of cardiac surgery devices along with a strict and extended approval period hinders the growth of the target market.
• The cardiac surgery devices market in Germany will grow at a 4.9% CAGR during the forecast period.
• In the South Asian market, India’s cardiac surgery devices market will grow at a 2.7% CAGR.
• The perfusion disposables segment will account for over 3/5th of the total market sales.
• The coronary bypass grafting segment will hold about 61.6% of the global market sales.
• Hospital segment will contribute the most to the target market during 2022-2032.

Competitive Landscape 

• 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.

Many key players are keen on incorporating advanced technology and designs into their product to strengthen their market position. These businesses are releasing upgraded products as well as engaging in mergers and acquisitions to improve their revenue.

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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

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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