Market Research Future (MRFR) in a recently published report on the cardiac surgery instruments market revealed that the market can mount a 6.9% CAGR during the forecast period (2017-2023). The cardiac surgery instruments market can cross USD 1.75 billion worth by the end of 2023, breaking away from its previous valuation of USD 1.1 billion in 2015. Cardiac surgery instruments are specially designed instrument that assist doctors in cardiac surgery by simplifying the procedure or enabling them to handle complex situations.
Growing investment in healthcare sector, to both facilitate the surgical procedures and uplift the quality of healthcare providers, can squarely promote the Cardiac surgery Instruments Market Trends. Cardiac problems are prevalent across the globe, and it is recording a startling growth in the last few years owing to the changing lifestyle and habits and also, importantly, pollution. Patients have this tendency to avoid going under knife for various reasons.
The key companies competing in the cardiac surgery instruments market are Surtex Instruments Limited (UK), Stryker (US), STILLE (Sweden), Delacroix-Chevalier (France), SIM Surgical (US), Gebrüder Martin GmbH & Co. KG (Germany), B. Braun Melsungen AG (Germany), DEALMED MEDICAL SUPPLIES LLC (US), MedServ International (Germany), Johnson & Johnson Services, Inc. (US), and others.
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Market Segmentation
Cardiac surgery Instruments market has been segmented on the basis of type, application, type of material, and end-user.
- Based on Types of cardiac surgery instruments are forceps, graspers, clamps, scissors, retractors, spreaders, graspers, and others.
- Based on Application, the market caters to coronary artery bypass grafting (CABG), valve repair or replacement, aneurysm repair, heart transplant, and others.
- Based on Types of Materials covered by the report are stainless steel, tungsten carbide, and others.
- Based on End-user-based segments in the market are hospitals and ambulatory surgery centers.
Regional Analysis:
MRFR’s report on the global cardiac surgery instruments market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America’s market has the maximum exposure and it is accounted for the maximum revenue. The regional market enjoys significant traction due to superior infrastructure and cutting-edge technologies that often get implemented here. Furthermore, a lot of investors are backing up research facilities to develop state-of-the-art surgical instruments.
Europe has the second biggest market in terms of revenue. The region is profiting much from the research and development conducted by leading manufacturers. The APAC would be the region to clock the fastest CAGR during the forecast period. The region is luring in a lot of companies and is now a part of their strategies. At the same time, evolution of countries as medical tourism hub can promote the market significantly.
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The MEA market cannot expect much from the regional investors. The tailwind it receives are mostly from foreign aids. Poor economies are going to be steady only, whereas, Dubai and other countries can register significant growth.
Recent Developments
June 2019
Zoll Medical has acquired TherOx along with its acute myocardial infarction treatment. The latter’s SuperSaturated Oxygen Therapy system delivers infusion of super-oxygenated blood to a targeted ischemic area of the heart using a small catheter for an hour.
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