Cardiac Surgery Instrument Market Size, Trends, Industry Analysis, Overview, Share And Forecast 2023 To 2030

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Market key trends:

The increase in prevalence of cardiovascular diseases due to changing lifestyle and dietary habits has been a major factor driving the growth of the cardiac surgery instrument market. Sedentary lifestyle with lack of physical activity and consumption of junk and processed food has led to increased risk of developing heart diseases. According to World Health Organization (WHO), cardiovascular diseases are the leading cause of deaths across the globe, accountable for over 17.9 million deaths every year. Growing geriatric population is another key trend as elderly people are more susceptible to cardiovascular ailments requiring surgical interventions. Furthermore, technological advancements in cardiac surgery instruments with miniaturized devices and robot-assisted surgeries are expanding the market growth.

The global Cardiac Surgery Instrument Market is estimated to be valued at US$ 1.70 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/cardiac-surgery-instrument-market-6163

Segment Analysis 

The global cardiac surgery instrument market is dominated by the cardiovascular instruments segment. Cardiovascular instruments are used for cutting, grasping, holding, retracting and suturing tissues and vessels during cardiac surgery procedures such as coronary artery bypass graft surgery. The segment accounts for over 60% share of the overall market owing to the widespread adoption of these instruments by cardiac surgeons worldwide. 

Key Takeaways

The global cardiac surgery instrument market is expected to witness high growth over the forecast period. 

Regional analysis 

North America dominated the global cardiac surgery instrument market and accounted for over 45% of the total market share in 2023. This is attributed to the early adoption of advanced cardiac surgery instruments and the rising prevalence of cardiovascular diseases in the region. The Asia Pacific region is expected to register the fastest growth during the forecast period owing to improving healthcare infrastructure and growing medical tourism in the emerging economies of China and India.

Key players related content 

Key players operating in the cardiac surgery instrument market are Medtronic, Murray Surgical , SternMed GmbH, CARDIC INSTRUMENTS, Edwards Lifesciences Corporation., Abbott, Boston Scientific Corporation, LivaNova, Inc., Terumo Corporation, Getinge, Artivion, Inc., MicroPort Scientific Corporation, B. Braun SE, and Stryker. Medtronic currently dominates the market with over 20% market share due to its wide product portfolio and strong global presence across key markets.

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