Cardiac surgery instruments are specially designed tools that are being used for performing specific actions during the heart related surgery or operation to derive desirable effect. These tools are designed according to use of it, some surgical instruments are used in general surgery while some are designed for specific surgery or operation. Increasing number of heart diseases and cardiac surgery are driving the growth for cardiac surgery instruments market. Growing healthcare sector and increasing number of hospitals are key drivers for the market. Surgical instruments manufacturers are developing new and innovative tools for the market. These instruments are essential for all the hospitals and one of the essential growth factor for the market. Cardiac surgery instrument market is growing moderately. The global Cardiac surgery instruments market in 2015 was about US$ 1.1 billion and expected to reach US$ 1.75 billion at CAGR of 6.9% by 2023.
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Increasing number of heart diseases and cardiac surgery, growing healthcare sector and increasing number of hospitals is the prime driver of the market. According to the World Health Organization estimates, in 2015 alone over 17.7 million people representing 31% of all global deaths expired due to complications arising due to cardiovascular diseases. The World Health Organization further states that 82% of the total deaths occurred were in the low- and middle-income countries. Additionally, the Centers for Disease Control and Prevention have said that in 2015, over 630,000 Americans died from heart disease-related issues, resulting in 1 in every 4 deaths.
Favorable Reimbursement Policies Coupled With The Growth In Risk Factors Will Drive A Significant Demand
Other drivers of the market are favorable reimbursement policies, increasing the prevalence of cardiovascular diseases and rising healthcare expenditure are constraining the market. The growth in risk factors such as increasing geriatric and diabetes population, sedentary lifestyles, high intake of fat-rich foods and others are indirectly driving the market. In the latest study conducted by World Health Organization, approximately 422 million people had diabetes in 2015. As per the National Diabetes Statistics Report suggested by Centres for Disease Control and Prevention, it is found that 9.4% of the U.S. population, i.e. 30.3 million people had diabetes in 2015.
Cardiac surgery Instruments market has been segmented on the basis of type which comprises Forceps, Graspers, Clamps, Scissors, Retractors, Spreaders, Graspers, and others. On the basis of application, the market is segmented by Coronary artery bypass grafting (CABG), Valve repair or replacement, aneurysm repair, Heart transplant, and others. On the basis of type of material market is segmented into Stainless Steel, Tungsten Carbide, and Others. On the basis of end user market is segmented into Hospitals and Ambulatory surgery centers.
The growing stringency of FDA regulations and uncertainty of healthcare policies in the U.S are significant constraints on the market. The poor per capita income of the underdeveloped economies of the world and the poor healthcare expenditure are dragging the market.
Some of the key players operating in the market are Johnson & Johnson Services, Inc. (US), DEALMED MEDICAL SUPPLIES LLC (US), Stryker (US), B. Braun Melsungen AG (Germany), STILLE (Sweden), MedServ International (Germany), Delacroix-Chevalier (France), SIM Surgical (US), Gebrüder Martin GmbH & Co. KG (Germany), Surtex Instruments Limited (UK) and others.
Regional Analysis of Cardiac surgery Instruments Market:
Considering the global scenario of the market, North America is believed to be the largest market for Cardiac surgery Instruments. Moreover the European market is also growing and second largest market for Cardiac surgery Instruments. On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the Cardiac surgery Instruments during the forecasted period. Rest of the World is likely to have a limited but steady growth in the market.
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Table of Contents:
1. Report Prologue
2.2 Scope Of The Study
2.2.1 Research Objective
2.3 Market Structure
2.4. Market Segmentation
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
List of Tables and Figures:
List Of Tables
Table 1 Global Cardiac Surgery Instruments Market, By Type
Table 2 Global Cardiac Surgery Instruments Market, By Application
Table 3 Global Cardiac Surgery Instruments Market, By Type Of Material
Table 4 Global Cardiac Surgery Instruments Market, By End User
Table 5 Global Cardiac Surgery Instruments Market, By Region
List Of Figures
Figure 1 Research Process
Figure 2 Porters Five Forces Model
Figure 3 Global Cardiac Surgery Instruments Market, By Type
Figure 4 Global Cardiac Surgery Instruments Market, By Application
Figure 5 Global Cardiac Surgery Instruments Market, By Type Of Material
Figure 6 Global Cardiac Surgery Instruments Market, By End User
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