Global Cardiac Surgery Instruments Market at a CAGR of 6.09 % to hit $ 1.70 bill

Posted by swamiv on November 18th, 2019

Global Cardiac Surgery Instruments Market By Product {Clamps, Forceps (Vascular Forceps, Grasping Forceps, Other Forceps, Scalpel, Scissors, Needle Holder}, Application (Coronary Artery Bypass Graft, Heart Valve Surgery, Pediatric Surgery, Heart Transplant), Type of Material (Stainless Steel, Tungsten Carbide, and others) End User (Hospital, ASC)

Market Analysis: Global Cardiac Surgery Instruments Market

Global Cardiac Surgery Instruments Market accounted to USD 1.70 billion in 2018 growing at a significant CAGR of 6.9% during the forecast period of 2019 to 2026 and expected to reach USD 2.90 billion by 2026.

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Market Definition: Global Cardiac Surgery Instruments Market

Cardiac surgery instruments are the specialized instruments and products which are designed to meet the demanding needs of cardiovascular surgeons.  The instrument must maintain its quality and design along with fine delicate microsurgical instruments for precise procedure. Some of the instruments are needle holder, scissors, retractors, peripheral vascular, aorta and anastomosis clamps, pediatric instrument, titanium micro instruments and many more.

According to World Health Organization, there were an estimated 17.9 million people die which accounts for 31% of all deaths worldwide, almost more than half of these deaths could have been avoided with the availability of proper medical equipment and devices for healthcare procedures. This significant number is expected to act as a driver to the market growth.

Market Drivers

  •          Increase in diabetic population, increased consumption of alcohol, rising obese population, increase in hypertension, aging population are the main drivers of the market.
  •          Increasing number of surgical procedure will drive the market.

Market Restraints

  •          Strict regulations by the government bodies will hamper the market.
  •          Adoption of alternative surgical methodology will restrain the growth of market.


Segmentation: Global Cardiac Surgery Instruments Market

By Product

  •          Clamps
  •          Forceps

o    Vascular Forceps

o    Grasping Forceps

o    Other Forceps

  •          Scalpel
  •          Scissors
  •          Needle Holder

By Application

  •          Coronary Artery Bypass Graft
  •          Heart Valve Surgery
  •          Pediatric Surgery
  •          Heart Transplant

By Type of Material

  •          Stainless Steel
  •          Tungsten Carbide
  •          and others

By End-user

  •          Hospital
  •          ASC

Key Developments in the Market:

In July, 2018, Symmetry Surgical Inc. has acquired the electrosurgical business and related intellectual property of  Bovie® brand, from Bovie Medical Corporation (“Bovie Medical”) for a total enterprise value of million. It will increase the overall sales of the company as well as expand its market.

Boss instruments launched a new product called Boss MIS retractor, made of surgical grade titanium which makes it better than its competitor product and the company further working on the R&D to expand the business.

Competitive Analysis: Global Cardiac Surgery Instruments Market

The global cardiac surgery instruments market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cardiac surgery instruments market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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Joined: October 30th, 2019
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