The global cardiac surgery instruments market size is expected to reach USD 2.7 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.6%. Increase in the number of cardiac surgeries & procedures and technological advancements are some factors expected to drive the market. Moreover, high incidence of cardiac diseases and availability of various surgical procedures are expected to boost the adoption of cardiac surgery instruments during the forecast period.
Technological
advancements in the field of cardiac surgery instruments are considered a key
driver of this market. Several key players are investing in R&D for launching
innovative and novel products. Moreover, sedentary & poor lifestyle, which
result in diabetes, obesity, & poor diet; smoking; and excessive alcohol
consumption have also increased the predisposition to heart diseases.
Furthermore,
increase in aging population and rising healthcare expenditure in emerging
economies are among the factors likely to boost the number of cardiac surgeries
during the forecast period. These factors are anticipated to positively
influence revenue generation. According to the U.S. Census Bureau, the global
healthcare spending is anticipated to increase to USD 18.28 trillion by 2040,
growing at a CAGR of 2.6%. According to WHO, the world’s population aged 60
years and above is expected to reach 2 billion by 2050, from 900 million in
2015.
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Further key
findings from the report suggest:
- North America
accounted for the largest share of over 40.0%, owing to favorable
reimbursement policies, local presence of key players, and increase in
number of heart patients as well as government initiatives
- Asian
countries are estimated to show highest growth rate, driven by advancing
technology, increasing investments, improving reimbursement scenarios, low
cost of treatment, and increasing medical tourism
- Forceps
segment accounted for the highest share and is expected to exhibit the
highest growth rate
- Based on
application, coronary artery bypass grafting captured the largest share
and is expected to be the fastest growing segment
- Some of the
major players are KLS Martin Group; Sklar Surgical Instruments; B. Braun
Melsungen AG; Teleflex Incorporated; Symmetry Surgical, Inc; STILLE;
Cardivon Surgical Inc.; Delacroix-Chevalier (France); Boss Instruments Ltd
(U.S.); Wexler Surgical (U.S.); Medicon eG (Germany); Surgins (U.K.);
Scanlan International (U.S.); Rumex International Co. (U.S.); and SIM
Surgical (U.S.).
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Grand View Research has
segmented the global cardiac surgery instruments market report on the basis of
type, application, end use, and region:
Cardiac Surgery
Instruments Product Outlook (Revenue, USD Million, 2015 - 2026)
- Forceps
- Clamps
- Scalpels
- Scissors
- Needle Holders
- Others
Cardiac Surgery
Instruments Application Outlook (Revenue, USD Million, 2015 - 2026)
- Coronary Artery Bypass Graft
- Heart Valve Surgery
- Pediatric Surgery
- Heart Transplant
- Others
Cardiac Surgery
Instruments End-use Outlook (Revenue, USD Million, 2015 - 2026)
- Hospitals
- Ambulatory Surgical Centers
Cardiac Surgery
Instruments Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- MEA
- South Africa
- Saudi Arabia
- UAE
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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