Cardiac Surgery Devices Market which is Projected to Reach US$2.4 Billion by 2032 at a Cumulative Annual Growth Rate CAGR of 3.6%.

Cardiac Surgery Devices Market
Cardiac Surgery Devices Market

The global cardiac surgery devices market  is projected to grow at a compound annual growth rate (CAGR) of 3.6%, reaching US$ 1.7 billion by the end of 2022. 2022–2032. Because heart illness is becoming more common, the market is expected to bring in US$ 2.4 billion in sales by 2032. Perfusion disposables were the most popular product category in 2021, with a demand share of about 59.1%..

The perfusion disposables market category presents a substantially larger opportunity than catheters, beating heart surgery systems, or heart lung machines combined in the cardiac surgical equipment business. Oxygenators will make up the majority of the value of the perfusion disposables market, which is expected to be valued over US$ 800 million in 2017 alone. By the end of the projection year, the segment is anticipated to approach US$ 1.1 billion, with an attractiveness index of 2.0, making it an especially lucrative market for cardiac surgery devices.

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The growing acceptance of heart-lung machine tables is expected to benefit the market for cardiac surgical devices by increasing the uptake of perfusion disposables. The primary cause of death in the US is cardiovascular disease, which also accounts for almost a third of all fatalities globally and 17% of all healthcare expenses in the US. By 2030, 40% of Americans will have cardiovascular illness, according to American Heart Association projections, with a direct cost of almost $820 billion..

Well-developed Medical Infrastructure Makes North America Keep its Crown

North America has a world-class medical infrastructure coupled with a population that is rapidly ageing and suffering from cardiopulmonary disorders.

This combination all but ensures that the region is larger than both Western Europe and APEJ combined in the year 2017 with a value of just under US$ 555 Million.

North America is on track to witness a CAGR of 4.1% for the period 2017 to 2027 that should see the market in the region touch US$ 830 Million by end 2027.

Most new developments are centred in North America and its high acceptance of modern technology make it an extremely lucrative region in the global cardiac surgery devices market.

Minimally Invasive Surgery Gaining Traction in Cardiac Surgery Devices Market

Coronary artery bypass grafting is anticipated to be the largest contributor in the cardiac surgery devices market by procedure in 2017 and it is unlikely to cede this position anytime soon.

However, modern advancements in cardiopulmonary bypass techniques, surgical approaches and incisions have made minimally invasive surgery increasingly popular in recent times.

Minimally invasive surgery has the advantage of reduced surgical trauma and decreased pain and this is anticipated to propel the cardiac surgery devices market in the long term.

In terms of CAGR these two segments hold the top position in the global cardiac surgery devices market, with coronary artery bypass grafting recording a value CAGR of 3.5% and minimally invasive surgery registering a 4.1% CAGR in terms of revenue during the forecast period.

Focus on Hospitals over Ambulatory Surgical Centres in the Cardiac Surgery Devices Market

The hospitals segment is larger than the ambulatory surgical centres segment by end user in the cardiac surgery devices market and this trend is predicted to continue for the foreseeable future.

An attractiveness index of 1.1 and a market opportunity of almost US$ 1.2 Bn by 2027 end should make all major companies actively target the hospitals end user segment in the cardiac surgery devices market.

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The companies actively involved in the global cardiac surgery devices market that have been profiled in the report include Biotronik, Braile Biomedica, Cook Medical Inc., Estech, Abiomed, Smith Medical, MicroPort Scientific Corporation, Edwards Lifesciences Corporation, Angiodynamics, Teleflex Incorporated, C. R. Bard, Inc, B. Braun Melsungen AG, Getinge-Maquet Germany Holding GmbH, Terumo Corporation, LivaNova PLC, Lepu Medical technology Co ltd., Boston Scientific Corporation, Medtronic, and Abbott Laboratories.

Important takeaways:

The increasing preference for minimally invasive surgical procedures is one of the recent trends seen in the cardiac surgery devices market.

In the last decade, minimally invasive cardiothoracic surgery has grown by leaps and bounds mainly because of the reduced pain and surgical trauma after this procedure.

Even though coronary artery bypass grafting is much larger at present, key stakeholders are advised to focus on minimally invasive procedures as patients will almost certainly prefer this form of treatment.

In addition to this, the beating heart surgery system type could see widespread adoption in the days ahead.

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Key Segments:

By Product:

  • Heart Lung Machine
  • Breathing Heart Surgery Systems
    • Stabilisers
    • Positioners
  • Catheters
    • Ablation Catheter
    • Drainage Catheter
  • Perfusion Disposables
    • Oxygenators
    • Centrifugal Pumps
    • Cardioplegia Delivery System

By End User:

  • Hospitals
  • Ambulatory Surgical Centres

By Procedure:

  • Coronary Artery Bypass Grafting
    • On pump CABG
    • Off pump CABG
  • Minimally Invasive Surgery

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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