The global cardiac surgery instruments market size was estimated at USD 1.6 billion in 2018 and is projected to grow at a CAGR of 6.6% over the forecast period. According to the American Heart Association, at least 48.0% of adults have some form of cardiovascular conditions in the U.S. Increasing prevalence of the cardiovascular disease, rising incidence of diabetes, growing healthcare investment, and technological advancements can be attributed to growth.

Top Driver: Growing number of heart failure cases, heart attack and other heart related illness

Growing number of heart failure cases, heart attack and other heart related illness should further drive cardiac surgery instruments market growth. Direct and indirect cost related to heart diseases is around USD 320 billion which includes health spending and also productivity. Manufacturers of cardiac devices are developing novel instruments and tools along with traditional devices to offer more usable product. Growing number of obesity among people, poor nutrition, technological advancement in cardiac instruments and various other heart-health stressors should drive industry growth over the forecast period

Physical inactivity and an unhealthy lifestyle are also increasing the incidence of cardiovascular conditions. Consumption of junk food, sedentary lifestyle, and mental stress are the primary reasons for heart diseases in individuals around the world. According to WHO, approximately 17.9 million people die from cardiovascular diseases; an estimated 31.0% of all deaths worldwide. By 2030, around 23.6 million people are expected to die due to cardiovascular disorders. Moreover, a substantial number of these deaths may be attributed to smoking and tobacco consumption.

Forceps to Make Crucial Contribution to Growth of Global Cardiac Surgery Device Market

Based on the product, the market is segmented into forceps, graspers, clamps, scissors, needle holders, and others. Forceps segment accounted for the largest share and is also projected to experience the highest growth rate. This can be attributed to the rising number of cardiac surgeries and the availability of different types of these instruments, such as grasping & vascular forceps. This growth is further aided by the frequent use of forceps in many cardiac surgeries. The needle holder segment is also held a considerable share and the segment is expected to grow at a CAGR of 8.4% over the forecast period. Needle holders are used by surgeons and doctors for holding a suturing needle for closing wounds.

The scissors segment is also expected to grow at a rapid pace and is identified as the second fastest-growing segment after forceps. This market is expected to grow at a CAGR of 6.9% over the forecast period owing to its use in various cardiac surgeries, such as heart transplants and coronary artery, heart valve, and pediatric surgeries. These scissors are available in different sizes and shapes for various types of surgeries.

On the basis of application, the cardiac surgery instrument market is segmented into heart valve surgery, Coronary Artery Bypass Grafting (CABG), pediatric cardiac surgery, heart transplant, and others. CABG dominated the market and is expected to witness lucrative growth over the forecast period. In 2018, the CABG segment captured the highest share and is expected to grow significantly over the forecast period. Coronary artery disease is a narrowing of coronary arteries, caused by a buildup of fatty material within the arteries. The treatment for this condition involves surgical intervention, and hence, the increasing incidence of the disease is anticipated to aid growth.

Heart valve surgery devices are used for treating heart failure, heart stroke, and blood clots. The primary method of treating a diseased heart valve is through open surgery by placing a replacement valve. This is the second largest segment of this market, owing to the increasing number of heart valve surgeries, and is expected to grow at a CAGR of 6.81% over the forecast period. The segment is primarily driven by lifestyle, such as consumption of alcohol & physical inactiveness; hypertension; diabetes; and hyperlipidemia.

Rising pool of patient population, prevalence of cardiovascular diseases, and government investments for development of better healthcare facilities and R&D to Benefit North America Market

Geographically, the global cardiac surgical devices market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America held the largest share of the market in 2016, followed by Europe. On the other hand, Asia is anticipated to be the fastest-growing regional segment during the analysis period. The key factors that drive the growth of this market include increase in pool of patient population, rise in prevalence of cardiovascular diseases, and rise in government investments for development of better healthcare facilities and R&D. Asia-Pacific is expected to emerge as the area with maximum growth potential due to the focus of key players in the emerging economies and improving healthcare infrastructure.

Players to Focus on Expanding Applications in Global Cardiac Surgery Device Market

The global cardiac surgery instruments market size was estimated at USD 1.6 billion in 2018 and is projected to grow at a CAGR of 7.6% over the forecast period. According to the American Heart Association, at least 48.0% of adults have some form of cardiovascular conditions in the U.S. Increasing prevalence of the cardiovascular disease, rising incidence of diabetes, growing healthcare investment, and technological advancements can be attributed to growth.

The globally increasing aging population is one of the major drivers of this market. According to WHO, the world’s geriatric population is expected to nearly double from 13.0% to 22.0% between 2015 and 2050. The market is expected to be driven by a vascular malfunction in the geriatric population and a rise in congenital defects. Furthermore, physical inactivity and an unhealthy lifestyle are also increasing the incidence of cardiovascular conditions.

Scope of the Report

By Product Type

• Forceps
• Clamps
• Scalpels
• Scissors
• Needle Holders
• Others

By Application

• Coronary Artery Bypass Grafting
• Heart Valve Surgery
• Pediatric Surgery
• Heart Transplant
• Others

By End-User

• Hospitals
• Ambulatory Surgical Centers

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Reasons to Purchase this Report 

1. It provides a technological development map over time to understand the growth rate of the industry.

2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.

3. It renders definite analysis for changing competitive dynamics.

4. It builds a seven-year estimate based on how the market is predicted to grow.