Global Cardiac Surgical Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
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“Global Cardiac Surgical Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global cardiac surgical devices market report has been segmented on the basis of product type, application, and region
Global Cardiac Surgical Devices Market: Overview
Heart associated diseases such as congenital heart defects, cardiac arrhythmia, coronary heart disease is at an alarming rate across the globe. Continuous development of advanced medical devices and techniques for minimally invasive cardiac surgery is increasing. This is expected to be an alternative to the traditional therapeutic method of choice.
Global Cardiac Surgical Devices Market: Dynamics
Major factors that anticipated to drive growth of the global cardiac surgical devices market are rising cardiac inpatients across the globe, rising mortality due to sudden cardiac attack is resulting in approach towards the development of advanced surgical devices that aid in easy surgical procedure with any complication during and post surgeries.
Moreover, rising geriatric population suffering from heart associated problems, and favorable reimbursement policies is resulting is another factor expected to support growth of the global market.
In addition, technological advancements by major players in order to develop cost-effective surgical devices and increasing government spending on the healthcare sector in order to facilitate the adoption are some other factors expected to further support growth of the global cardiac surgical devices market
However, stringent government regulations related to product approval and incidences of product recalls are factors expected to hamper growth of the global cardiac surgical devices market. In addition, lack of infrastructure facilities supporting the adoption of devices and no reimbursement scenario in developing countries are among other factors expected to challenge growth of the global market
With the advent of 3D technology, manufacturers approach towards using 3D printing to develop a cardiac surgical device that is able to review the electricity in heart and aid patients suffering from atrial fibrillation is expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period. In addition, innovative product offering by major players is expected to further support target market growth.
Global Cardiac Surgical Devices Market: Region
The market in North America is expected to dominate in the global cardiac surgical devices market and is expected to continue its dominance over the forecast period. The dominance can be attributed to the increasing number of patient suffering from cardiovascular associated problems, well-developed healthcare infrastructure, and the presence of major players operating in the countries in this region. In 2016, According to American Heart Association, Inc., coronary heart disease accounted for 13% of deaths which was 363,452 deaths in the US.
In addition, technological advancements and innovative product offerings by major players are expected to further support market growth in this region to a certain extent.
The market in Asia Pacific is expected to witness faster growth, owing to increasing government spending on the healthcare sector and medical device manufacturers approach toward the untapped market. In addition, growing merger and acquisition activities between regional and international players in order to increase the customer base is expected to further support the market growth to a certain extent in this region.
Global Cardiac Surgical Devices Market Segmentation
Segmentation by product type:
- Beating Heart Surgery Systems
- Cardiopulmonary Bypass Equipment
- Cardiac Ablation Devices
- Perfusion Disposables
Segmentation by application
- Congenital Heart Defects
- Cardiac Arrhythmia
- Coronary Heart Disease
- Congestive Heart Failure
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Edwards Life Science Corporation
- Medtronic Inc.
- Getinge Group
- Atrion Corporation
- Abbott Laboratories
- Sorin S.P.A.
- Terumo Medical Corporation
- Boston Scientific Corporation
- Cook Medical Incorporated
- Angiodynamics, Inc.
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