Cardiovascular Surgery Devices Market Set to Garner Staggering Revenues by 2025
Increase in the number of cardiovascular disorders drives the global cardiovascular surgery devices market. A report published by the World Health Organization (WHO) stated that cardiovascular disorders accounted for around 17.7 million or 31% of global deaths in 2015. Of these 6.7 million expiries were due to stroke and around 7.4 million due to coronary heart disease. This rise in the number of patients suffering from cardiovascular disorders across the globe is projected to drive the global cardiovascular surgery devices market. Cardiovascular disorders can be prevented by considering some behavioral risk factors such as unhealthy diet and obesity, tobacco use, excess intake of alcohol and increasing physical activities using population wide strategies.
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The global cardiovascular surgery devices market can be segmented based on product, procedure, end-user, and region. In terms of product, the global cardiovascular surgery devices market can be classified into heart lung machine, breathing heart surgery systems, catheters, and perfusion disposables. The breathing heart surgery systems segment can be bifurcated into stabilizers and positioners. The catheters segment can be categorized into ablation catheter and drainage catheter. The perfusion disposables segment can be divided into oxygenators, centrifugal pumps, and cardioplegia delivery systems. Based on procedure, the global cardiovascular surgery devices market can be classified into coronary artery bypass grafting and minimally invasive surgery. The coronary artery bypass grafting segment can be bifurcated into on pump coronary artery bypass grafting and off pump coronary artery bypass grafting. In terms of end-user, the global cardiovascular surgery devices market can be divided into hospitals & surgical centers and ambulatory surgical centers. The hospitals & surgical centers segment accounted for major share of the global cardiovascular surgery devices market in 2017. Quality facilities provided by hospitals for surgical care is the key factor contributing to the high share of the segment. The ambulatory surgical centers segment is anticipated to grow at a rapid pace in the next few years. Increase in the number of ambulatory surgical centers and advanced quality of treatment provided by the ambulatory surgical centers are expected to propel the segment during the forecast period.
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The global cardiovascular surgery devices market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to the American Medical Association (AMA), around 80 million people in the U.S. suffer from some form of heart disorder. Lifestyle associated disorders such as diabetes, stress, and cardiovascular disorders are affecting the geriatric population as well as individuals in early 30s and late 20s. Increase in the geriatric population is expected to drive the global cardiovascular surgery devices market during the forecast period. This demographic has exhibited increase in incidence of cardiovascular diseases, which will propel the cardiovascular surgery devices market at a double-digit growth rate during the forecast period. Rise in the number of cardiac surgeries is attributed to poor nutrition, stressful lives, obesity-related issues, and other health problems prevalent in the modern world that eventually lead to cardiovascular diseases.
Major players in the global cardiovascular surgery devices market are Medtronic, LivaNova plc, Terumo Corporation, Becton, Dickinson and Company, MAQUET Holding B.V. & Co. KG., Edwards Lifesciences Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Angiodynamics, and Cook Medical, Inc., among others.
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