The global cardiac surgery instruments market has experienced steady growth in the last few years and is likely to be ably supported in the near future by the rising prevalence of cardiac disorders in Western as well as developing Eastern economies, which is likely to drive the demand for cardiac surgical instruments at a steady rate. The prevalence of a lifestyle conducive to growth in the prevalence of cardiac disorders is likely to remain a key driver for the cardiac surgery instruments market in the coming years, while the increasing awareness in the healthcare sector about the importance of consistent product development is likely to enable steady growth of the cardiac surgery instruments market.
The global cardiac surgery instruments market was valued at US$1,061.4 mn in 2017 and is likely to rise to US$1,412.7 mn by 2022 at a steady 5.9% CAGR.
Vascular Forceps Likely to Dominate Cardiac Surgery Instruments Market
By product type, vascular forceps are likely to remain the commercially dominant segment in the global cardiac surgery instruments market in the coming years. Vascular forceps are used in a wide variety of cardiac procedures and comprise one of the most important components of cardiac surgeries in terms of patient safety, leading to a strong push for product innovation. This is likely to enable rapid growth of the vascular forceps market in the coming years, as the rising number of cardiac surgical procedures will lead to growing need for vascular forceps. The vascular forceps segment is expected to exhibit a strong 6.3% CAGR in the 2017-2022 forecast period, with the market share of the segment expected to rise from 29.6% to 30.3% over the forecast period.
Rising Prevalence of Cardiac Disorders in Asia Pacific to Drive Demand
Despite the present dominance of North America and Europe in the global cardiac surgery instruments market, Asia Pacific except Japan and Japan are likely to emerge as important contributors to the global market in the coming years due to the rising prevalence of cardiac and other lifestyle disorders in Southeast Asian countries. The Asia Pacific except Japan market for cardiac surgery instruments is likely to rise to US$237.2 mn by 2022 at a robust CAGR of 6.2% due to the growing demand in countries such as China and India, where increasing adherence to Western lifestyles is leading to rising prevalence of cardiac diseases and thus a growing need for cardiac surgery instruments.
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North America to Retain Dominance in Global Cardiac Surgery Instruments Market
The North America cardiac surgery instruments market was valued at US$372.6 mn in 2017 and is likely to rise to US$503.1 mn by 2022 at a robust 6.2% CAGR therein. The North America market for cardiac surgery instruments is likely to benefit from the widespread incorporation of advanced cardiac surgery instruments and the constant drive for product enhancement due to strong presence of leading medical devices industry players and supportive government regulations. Europe is also a dominant force in the global cardiac surgery instruments market and is expected to reach a valuation of US$429.9 mn by 2022, but could see a decline in its global market share due to its unspectacular 5.5% CAGR.
The global cardiac surgery instruments market is likely to exhibit intense competition in the coming years due to the rising commercial prospects of the market. However, strict safety regulations on the medical devices industry could hamper the growth of the cardiac surgery instruments market to some extent. Leading cardiac surgery instruments market players assessed in the report include Cardivon Surgical Inc., Medline Industries Inc., Delacroix-Chevalier, Cardinal Health Inc., Becton, Dickinson, and Company, CONMED Corporation, Teleflex Incorporated, C.R. Bard Inc., and B. Braun Melsungen AG.
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