Navigating Cardiac Care: Instruments Market Report

Author : saya bonde | Published On : 02 May 2024

The global cardiac surgery instruments market is estimated to be valued at US$ 1.70 Bn in 2024 and is expected to exhibit a CAGR of 3.9% over the forecast period of 2023 to 2030.

Cardiac surgery instruments are medical devices used for open-heart surgeries to treat several cardiovascular disorders. Key instruments include clamps, forceps, needle holders, scissors, and retractors that aid surgeons in handling internal organs and blood vessels with precision. The demand for these instruments is driven by the rising incidence of coronary artery diseases, heart failure, and congenital heart defects globally.

Key Takeaways

Key players operating in the cardiac surgery instruments market are Medtronic, Murray Surgical , SternMed GmbH, CARDIC INSTRUMENTS, Edwards Lifesciences Corporation., Abbott, Boston Scientific Corporation, LivaNova, Inc., Terumo Corporation, Getinge, Artivion, Inc., MicroPort Scientific Corporation, B. Braun SE, and Stryker. These players are focusing on new product launches and geographic expansion to gain market share.

The growing prevalence of cardiovascular disorders and the need for minimally invasive surgeries present significant growth opportunities in the market. Manufacturers are developing advanced instruments to perform complex surgeries through small incisions.

Globally, the market is anticipated to witness high growth in Asia Pacific and Latin America. Factors such as the improving healthcare infrastructure and increasing healthcare spending in developing economies will drive the cardiac surgery instruments market.

Market Drivers

The increasing geriatric population is one of the key factors augmenting market growth. Age is a significant risk factor for heart diseases. Additionally, lifestyle changes, rising levels of stress, and changing dietary patterns have led to a surge in cardiovascular disorders across both developed and developing nations. This is expected to drive the demand for cardiac surgery instruments during the forecast period.

Market Restraints

However, the high cost of specialized cardiac surgery instruments and lack of reimbursement policies in some emerging economies may hamper the overall market growth. Also, the availability of alternative treatments such as balloon angioplasty, cardiac stents, and catheter-based procedures is likely to pose a restraint.

Segment Analysis
The cardiac surgery instrument market can be segmented by type, applications, and end user. By type, the forceps segment is dominating the market as they provide sharp precision and dexterity required during various cardiac surgeries. Forceps are used to control bleeding and isolate, lift, and grasp tissues during open-heart procedures. By applications, the coronary artery bypass grafting (CABG) segment holds the largest share due to the increasing prevalence of cardiovascular diseases and rising number of CABG surgeries globally. By end user, the hospitals segment is dominating as most surgical procedures are performed in hospitals.

Global Analysis
North America holds the largest share in the regional cardiac surgery instrument market as the US has a well-established healthcare system and developed infrastructure. The presence of key players and availability of reimbursement for surgeries in the region also supplement market growth. Europe is anticipated to be the fastest-growing market during the forecast period owing to the rising number of cardiac surgical procedures and healthcare expenditures. The Asia Pacific region is projected to offer significant growth opportunities due to growing medical tourism, improving accessibility to healthcare facilities, and increasing healthcare investments by governments in emerging countries. Overall, the market is expected to show steady growth due to the rising global burden of cardiac diseases and growing preference for minimally invasive surgeries worldwide.