Cardiac Surgery Instrument Market

Cardiac Surgery Instruments Segment is the largest segment driving the growth of Cardiac Surgery Instrument Market

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The global Cardiac Surgery Instrument Market is estimated to be valued at US$ 1.7 Bn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The cardiac surgery instruments market involves devices that facilitate heart surgeries such as clamps, forceps, scissors, needle holders, retractors and others. These instruments help surgeons perform procedures like coronary artery bypass grafting and heart valve repair or replacement. Continuous advancement in the instruments and growing adoption of minimally invasive cardiac surgeries are fueling the market growth.

Market key trends:

One of the key trends fueling the cardiac surgery instruments market growth is the growing preference for minimally invasive surgeries. Minimally invasive surgeries are less traumatic for patients as it involves smaller incisions and thus results in less pain, fewer complications and shorter hospital stays. Specialized surgical instruments have been developed to facilitate minimally invasive cardiac procedures which is driving the demand in the market. Furthermore, continuous technological advancements are allowing surgeons to perform complex surgeries through minimal access points which is further propelling the market growth.

Market key trends:

The cardiac surgery instrument market has been witnessing increasing adoption of minimally invasive surgical procedures. The advantages associated with minimally invasive cardiac surgery such as less pain, faster recovery time, and lower risk of surgical site infections have been driving the demand for specialized cardiac surgery instruments such as cardiac ablation devices. Moreover, technological advancements in cardiac surgery instruments such as integration of robotics have further increased the popularity of minimally invasive cardiac surgeries.

SWOT Analysis

Strength: Specialized cardiac surgery instruments offer precision and accuracy during complex cardiac procedures. This reduces complications and improves clinical outcomes.
Weakness: High costs associated with specialized cardiac surgery instruments can limit their adoption in price sensitive markets.
Opportunity: Emerging economies in Asia Pacific and Latin America are expected to increase healthcare investments, which can drive the demand for advanced cardiac surgery instruments.
Threats: Stringent regulatory approvals for new cardiac surgery instruments and established preference for traditional instruments among cardiologists pose challenges for market players.

Key Takeaways

The Global Cardiac Surgery Instrument Market Size is expected to witness high growth, exhibiting CAGR of 13.% over the forecast period, due to increasing prevalence of cardiovascular diseases and growing geriatric population prone to heart conditions.
Regional analysis: North America dominated the global market in 2023 and is expected to maintain its lead position during the forecast period as well, owing to the advanced healthcare infrastructure and favorable reimbursement policies in the region.
Key players: Medtronic, Edwards Lifesciences, Abbott Laboratories, Boston Scientific, LivaNova, Sorin Group (now part of LivaNova), Terumo Corporation, Getinge AB, CryoLife, MicroPort Scientific Corporation, B. Braun Melsungen AG, Maquet (now part of Getinge AB), W. L. Gore & Associates, Stryker Corporation, Merit Medical Systems.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it