“Prevalence of cardiac diseases and increase in geriatric population propel the growth of the global cardiac surgical devices market”
The global cardiac surgical devices market was pegged at $1.75 billion in 2017 and is expected to hit $2.12 billion by 2023, registering a CAGR of 3.2% from 2017 to 2023. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and changing market trends.
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Rise in the incidence of cardiac diseases and increase in geriatric population drive the growth of the global cardiac surgical devices market. On the other hand, the high cost of cardiac surgery procedures hampers the growth to some extent. Nevertheless, high-end technological advancements in the domain are expected to create multiple opportunities in the near future.
The cardiac arrhythmia segment to dominate by 2023-
Based on application, the cardiac arrhythmia segment contributed to more than two-thirds of the total market share in 2017 and is anticipated to rule the roost during the forecast period. The same segment is also expected to grow at the fastest CAGR of 3.3% through 2017–2023.
The adult population (18+ years) segment to dominate till 2026-
Based on the age group, the adult population (18+ years) accounted for nearly three-fifths of the total market revenue in 2017 and is projected to maintain its dominance during the study period. The same segment would also cite the fastest CAGR of 3.4% throughout the forecast period.
North America generated the highest share in 2017-
Based on geography, North America held the largest share in 2017, contributing to nearly two-fifths of the total market. Simultaneously, the Asia-Pacific region would showcase the fastest CAGR of 4.5% during 2019–2026.
Key market players-
Leading market players assessed in the report include Medtronic Inc., Abbott Laboratories, Getinge Group, Atrion Corporation, Angiodynamics, Inc., Cook Medical, Edwards Life Science Corporation, Sorin S.P.A., Terumo Medical Corporation, and Boston Scientific Corporation.
Key Findings of the Cardiac Surgical Devices Market Study:
- By product type, the perfusion disposable segment dominated the market in 2016, and is projected to grow at the highest CAGR.
- By application, the cardiac arrhythmia segment accounted for the highest share of in 2016.
- The U.S. was the major shareholder in the North America cardiac surgical devices market in 2016.
- Asia-Pacific is expected to show the highest growth rate during the analysis period.
- China is expected to grow at the highest CAGR in the cardiac surgical devices market.
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