The Global Instruments for Cardiac Market size is estimated to reach USD 2,182.8 Million from USD 1,320.0 Million in 2020, delivering a CAGR of 6.40% through 2027. The market growth is driven by the growing prevalence of cardiac diseases and an associated rise in the number of cardiac surgeries performed annually around the world.
Cardiovascular diseases are one of the leading concerns of death in the world, primarily in Asian countries. Nearly 60% of the total CVD cases in the world are from the APAC region only. Increasing degradation in the lifestyle with an unhealthy lifestyle, bad eating habits, hypertension, smoking, and others are some of the key reasons leading to increasing cases of coronary artery disease, diabetes mellitus, dyslipidemia, and other ischemic heart diseases.
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Further key findings from the report suggest:
- Based on application, the Coronary Artery Bypass Grafting (CABG) segment is estimated to witness a CAGR of 6.6% over the analysis period. Instruments for Cardiac are witnessing high demand for minimally invasive CABG methods as the surgery requires instruments proficient in making small cuts.
- The heart valve repair replacement segment is estimated to account for 21.1% of the Instruments for Cardiac market share, exhibiting a CAGR of 5.2% through 2027.
- Based on instruments, the clamps dilators segment is anticipated to account for 17.5% of the Instruments for Cardiac market, delivering a CAGR of 5.3% through 2027.
- The needle holders needles sub-segment accounted for 21.3% of the market revenue share in 2019 and is forecast to showcase a growth rate of 5.4% over the analysis period.
- On the basis of sales channel, the online retail channel is expected to grow at a CAGR of 7.4% through 2027. The robust growth can be attributed to the increasing popularity of online retailing of medical instruments as online retailers offer reduced prices compared to the offline vendors on account of no involvement of the distributor chains in the process.
- In terms of end-use, the cardiac segment is estimated to register a CAGR of 3.4%, generating USD 0.38 Billion in terms of revenue by 2027.
- The ambulatory surgery centers segment accounted for USD 0.18 Billion in terms of revenue generation in 2018 and is expected to exhibit a CAGR of 9.1% over the analysis period.
- North America dominated the market 34.4% share in 2019 and is set to witness substantial growth through 2027 due to increasing incidences of coronary heart diseases and the exponential growth of ambulatory surgery centers in the region.
- Europe region is estimated to account for 27.6% of the market share, exhibiting a growth rate of 6.3% during the forecast period.
- APAC region is forecast to showcase the fastest growth rate of 9.3% over the analysis period and owing to a record number of cardiac patients in China, Japan, and India, impressive advancements in the healthcare industry, and exponential growth in the number of super-specialty cardio-centric hospitals in the region.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product service portfolio. The Instruments for Cardiac market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in RD, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
Becton, Dickinson and Company, B. Braun Melsungen AG, Sklar Surgical Instruments, Symmetry Surgical Inc., Jarvis Surgical, Inc., Rumex International Corporation, Surtex Instruments Ltd., Fehling Surgical Instruments, Inc., Geister Medizintechnik GmbH, Delacroix-Chevalier, and Quizlet Inc., among others has been profiled in the report.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Instruments for Cardiac Market Segmentation:
Instruments Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
- Forceps Scissors
- Clamps Dilators
- Needle Holders Needles
- Retractors Rongeurs
- Others
Sales Channel Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
- Online Retailing
- Offline Retailing
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
- Coronary Artery Bypass Grafting (CABG)
- Heart Valve Repair Replacement
- Implantable Cardioverter Defibrillator (ICD)
- Pediatric Cardiac Surgery
- Heart Transplant
- Others
End-Users Outlook (Revenue: USD Billion; Volume: Million Tons; 2018-2028)
- Hospitals
- Cardiac Clinics
- Ambulatory Surgery Centers
- Others
Geographic Segment Covered in the Report:
The Instruments for Cardiac report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)
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Key market aspects are illuminated in the report:
- Executive Summary: It covers a summary of the most vital studies, the Global Instruments for Cardiac market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
- Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Instruments for Cardiac market, the years measured, and the study points.
- Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
- Manufacture by Region: This Global Instruments for Cardiac report offers data on imports and exports, sales, production and key companies in all studied regional markets.
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