Cardiovascular Needle Market - Analysis, Size, Business Growth, Trends 2023

Posted by vinit sawant on April 30th, 2021

Market Highlights

The global cardiovascular needles market size is expected to grow at a CAGR of 7.2% during the forecast period 2017-2023.

The global cardiovascular needles market is growing rapidly owing to its application in various fields such as open heart surgery, cardiac valve procedures, coronary artery bypass graft surgery, heart transplant, and others.

Furthermore, increasing prevalence of population suffering from cardiovascular diseases, diabetes, and obesity driving the growth of the cardiovascular needles market globally. According to the International Diabetes Federation in 2016, it was estimated that 420 million adult population had diabetes, which is increasing at the rate of 8.4% and is expected to reach 625 million by 2040.

There are various factors and opportunities which help the cardiovascular needles market to grow but there are some factors which are against the market and hampering the growth and development of the industry. The factor which may hamper the growth of the dental software market is increasing use of surgical staples instead of needles and suture. Moreover, increasing government support, changing lifestyle, and rapidly developing technology are expected to boost the market growth during the forecast period.

Regional Analysis

The Americas dominate the global cardiovascular needles market owing to the presence of a huge patient population with chronic diseases, and rising genetic population. Furthermore, market players of this region continue to involve in providing a quality product, which gives an edge to this region. According to the Population Reference Bureau, the number of Americans aged over 65 is projected to be more than double from 46 million in 2014 to over 98 million by 2060.

Europe holds the second largest share of the global cardiovascular needles market as result of increasing focus of various government agencies on the treatment of chronic diseases. Moreover, the growing public awareness about cardiovascular needles is likely to boost the European market. According to the European Cardiovascular Disease Statistics (2016), every year cardiovascular disease causes 3.9 million deaths in Europe, which accounts for 45% of all deaths in Europe.