Global Cardiac Surgical Devices Market Forecast, Trend Analysis And Competition Tracking - Market Insights: 2015 – 2031

The Global Cardiac Surgical Devices Market

The global cardiac surgical devices market was valued at US$ 1989.9 million in 2020, and is projected to grow at a CAGR of 3.2%.

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Cardiac surgery carries with it inherent risks, but the introduction of safer surgical tools has minimized these risks. The safest cardiac surgery heart stabilizing devices are those that are implanted inside the body. Known as internal cardiac stabilizers, these devices are inserted through small incisions in the chest wall and positioned around the heart to reduce blood loss and reduce the risk of damage to the heart during surgery.

In the nineteenth century, a surgeon named John Thorek became the first to use a new invention called a radial artery catheter. Dr. Thorek was a pioneer in the field of heart surgery and had been experimenting with different ways to help his patients. At first, he used catheters to drain fluid from the chest cavity after surgery, but he did not stop there.

The average survival rate for cardiac surgery patients has increased significantly in recent years due to advancements in surgical equipment. There are now several varieties of stents available, which are used to relieve angina and restore blood flow to the heart. Surgical lasers, which emit powerful beams of light, have also made it possible for surgeons to perform operations without exposing the heart or other organs.

Cardiac surgery carries with it inherent risks, but the introduction of safer surgical tools has minimized these risks. The safest cardiac surgery heart stabilizing devices are those that are implanted inside the body. Known as internal cardiac stabilizers, these devices are inserted through small incisions in the chest wall and positioned around the heart to reduce blood loss and reduce the risk of damage to the heart during surgery.

As the population has increased and the supply of donor organs has decreased, many hospitals have resorted to either living-donor or surgical options to replace diseased organs. Cardiac surgical devices are a common treatment for patients with heart disease. These devices include: pacemakers, implantable cardioverter defibrillators, and bio prosthetic valves.

The global cardiac surgical devices market is segregated into product types, applications, end uses, and regions. On the basis of product type, the global cardiac surgical devices market is sub-segmented into beating heart surgery systems, cardiopulmonary bypass equipment, cardiac ablation devices, and perfusion disposables. With respect to application, the global cardiac surgical devices market is sub-segmented into congenital heart defects, cardiac arrhythmia, coronary heart disease, congestive heart failure, and other applications. On the basis end use, the global cardiac surgical devices market is distributed into hospitals, clinics, and academic & research institutes. On the basis of region, the global cardiac surgical devices market is sub-segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Increasing emergence of cardiovascular diseases, rising number of heart attacks and strokes

The number of people with cardiovascular diseases is on the rise. This can be attributed to a number of factors. People are eating more fast food and processed foods, which leads to higher levels of obesity and high cholesterol. Smoking has also been found to contribute to heart attacks and strokes. The number of stressors in people's lives, such as financial instability and family problems, also leads to an increase in these illnesses.

Increasing demand of minimally invasive procedures, and rising per capita income

Minimally invasive procedures are becoming more popular in the medical field. Cardiac surgical devices are considered minimally invasive because they are designed to be smaller and less invasive than traditional cardiac surgeries. This trend in minimally invasive procedures is causing a rise in demand for cardiac surgical devices.

More and more people are requiring cardiac surgical devices. The demand for these devices will be met by increasing per capita income, which will grow the market for these devices.

Growing geriatric population, obesity related problems, technology advancements

The number of elderly people worldwide is increasing every year. While the population of older individuals will continue to grow, people are living longer than before. This leaves many elderly people with chronic illnesses and other diseases related to their age. With more elderly people, there is also an increase in cardiac surgery procedures because age-related heart conditions are common among this demographic. Cardiac surgery often leads to extended hospital stays, which can strain the caregiver, as well as the patient's family.

High investment cost and shortage of skilled surgeons

One barrier to growth in the Cardiac Surgical device market is the high investment cost of cardiac surgical devices and the shortage of skilled surgeons to perform these surgeries. The two factors combine to hamper any growth in this market. Additionally, the long-term nature of this industry and many competitors offer little opportunity for a company to seize their share of the market and grow at a meaningful pace.

COVID-19 Impact on Healthcare

Healthcare sector has taken a great deal of the accountability for dealing with COVID-19 patients. At the same time, it's been impacted by difficulties just like other sectors. In these circumstances, the sector has had to constantly advance and find new and improved ways to take care of patients. Changes in patient preferences and behavior geared toward seeking medical care are showing substantial shifts.

North America is projected to dominate the global market

The global cardiac surgical devices market is segmented into into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Markets in the North America are anticipated to account for the largest share in the years to come owing to the rise in pool of patient population, the increase in prevalence of cardiovascular diseases, and the increase in government investments for development of better healthcare facilities and R&D.

Market players of the cardiac surgical devices market include

• Boston Scientific Corporation

• Abbott Laboratories

• AngioDynamics

• COOK Medical

• C. R. Bard Inc.

• Terumo Cardiovascular Systems Corporation

• St. Jude Medical Inc.

• Thoratec Corporation

• Edwards Lifesciences Corporation

• TransMedics Inc.

• Other Market Players

Report Scope

• Forecast Period: 2022-2031

• Actual Year: 2021

• Historical Data Available for: 2015-2020

Global Cardiac Surgical Devices Market by Product Type

• Beating Heart Surgery Systems

• Cardiopulmonary Bypass Equipment

• Cardiac Ablation Devices

• Perfusion Disposables

Global Cardiac Surgical Devices Market by Application

• Congenital Heart Defects

• Cardiac Arrhythmia

• Coronary Heart Disease

• Congestive Heart Failure

• Other Applications

Global Cardiac Surgical Devices Market by End Use

• Hospitals

• Clinics

• Academic & Research Institutes