Cardiovascular Surgery Devices And Equipment Market Forecast and Analysis: Key Insights into Growth, Trends, and Emerging Opportunities
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How Will the Growth Rate of the Cardiovascular Surgery Devices And Equipment Market Shape Industry Trends by 2034?
The market for cardiovascular surgery devices and equipment has witnessed substantial growth in recent times. The market is projected to expand from a size of $1.89 billion in 2024 to $1.99 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.3%. Factors such as the rising occurrence of cardiovascular diseases, advancements in technology, an increasing aged population, and chronic disease management have contributed to the growth seen in the historic period.
The market for cardiovascular surgery devices and equipment is projected to witness slight expansion over the upcoming years, reaching a valuation of $2.15 billion in 2029 with a compound annual growth rate (CAGR) of 1.9%. The expected growth during the forecast period can be attributed to the advancement in minimally invasive surgical techniques, innovative imaging, individualized medicine, telemedicine, and teleconsultations. Predominant trends expected during the forecast period encompass hybrid operating rooms, transcatheter procedures, application of artificial intelligence (AI) in surgeries, and distant surgical training.
How Are the key drivers expanding the growth of the Cardiovascular Surgery Devices And Equipment Market?
The cardiovascular surgical devices market is being propelled by an increase in the elderly population coupled with a surge in deaths due to cardiovascular ailments. Data from the American Heart Association (AHA) suggests that around 43.7 million people over the age of 60 in the US alone are afflicted with cardiovascular diseases. The AHA also provides evidence of cardiac disease-related deaths reaching up to 17.3 million annually and predicts this figure will escalate to over 23.6 million globally by 2030. The rise in these conditions leads to an increase in the number of surgeries conducted, thus, fuelling the market’s growth.
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Who Are the Key Market Players Influencing the Growth of the Cardiovascular Surgery Devices And Equipment Industry?
Major companies operating in the cardiovascular surgery devices and equipment market include Abbott Laboratories, Boston Scientific Corporation, Cook Medical, Abiomed Inc., Angiodynamics, Transmedics, Terumo cardiovascular systems corporation, Edwards Life Science Corporation, Medtronic plc, Cardinal Health, Cyberheart Incorporated, Medwaves Incorporated, Thoratec Corporation, Cordis Corporation, Getinge Group, Atrion Corporation, Sorin S.P.A., Biosensors International, Bioventrix Inc., Maquet GmbH & Co. KG, EndoPhotonix Inc., Krdium Inc., SEMMT Inc., Amaranth Medical, 3M Health Care, Abaxis Inc., Atlas Genetics, Becton Dickinson and Company, BioFire Diagnostics, bioMérieux, Bio-Rad Laboratories, Cepheid, Chembio Diagnostic Systems, EKF Diagnostics, GenMark Diagnostics, Hologic, LumiraDx, Mesa Biotech (a subsidiary of Thermo Fisher Scientific), Nova Biomedical, NOWDiagnostics, Opko Health, OraSure Technologies, QIAGEN, Roche Diagnostics, Sekisui Diagnostics, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific, Trividia Health, Trivitron Healthcare, Werfen S.A.
What Key Market Trends Are Shaping the Future of the Cardiovascular Surgery Devices And Equipment Industry?
Leading businesses are making investments in firms active in the Cardiovascular Surgery Devices and Equipment sector that are concentrating on innovative solutions such as CardioVisio for Atrial Fibrillation (AFib), to enhance early diagnosis, improve patient results and refine treatment procedures. CardioVisio for Atrial Fibrillation (AFib) is an advanced diagnostic and monitoring system intended to identify and handle AFib, a prevalent form of irregular heart rhythm. In August 2023, GE HealthCare, an American medical technology company, introduced CardioVisio for Atrial Fibrillation (AFib), a digital solution supporting clinical decisions with the aim to advance precision care for patients with AFib. Unveiled at ESC Congress 2023, this innovative tool brings together patient data from diverse sources over time, providing a holistic view of cardiac health to medical practitioners. By presenting evidence-based advice in line with AFib instructions, CardioVisio simplifies clinical operations and boosts best practice adherence.
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What Are the Strategic Segments Comprising the Cardiovascular Surgery Devices And Equipment Market and Their Growth Contributions?
The cardiovascular surgery devices and equipment market covered in this report is segmented –
1) By Product Type: Beating heart surgery systems, Cardiopulmonary Bypass Equipment, Cardiac Ablation Devices, Perfusion Disposables
2) By Application: Congenital Heart Defects, Cardiac Arrhythmia, Coronary Heart Disease, Congestive Heart Failure, Other Applications
3) By End User: Home and Ambulatory care, Hospitals, Diagnostic laboratories, Research Laboratories
Subsegments:
1) By Beating Heart Surgery Systems: Stabilization Systems, Tissue Stabilizers, Coronary Artery Bypass Surgery Systems, Other Beating Heart Surgery Devices
2) By Cardiopulmonary Bypass Equipment: Heart-Lung Machines, Oxygenators, Cannulas, Tubing Packs, Cardioplegia Delivery Systems, Other Cardiopulmonary Bypass Equipment
3) By Cardiac Ablation Devices: Radiofrequency Ablation Devices, Cryoablation Devices, Laser Ablation Devices, Microwave Ablation Devices, Other Cardiac Ablation Devices
4) By Perfusion Disposables: Blood Oxygenators, Perfusion Cannulas, Tubing Sets, Filters, Blood Reservoirs, Other Perfusion Disposables
Which Regions Are Emerging as Leaders in the Cardiovascular Surgery Devices And Equipment Market?
North America was the largest region in the global cardiovascular surgery devices and equipment market in 2023. Western Europe was the second-largest region in the global cardiovascular surgery devices and equipment market. The regions covered in the cardiovascular surgery devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Are the Defining Features of the Cardiovascular Surgery Devices And Equipment Market?
Cardiovascular surgery devices and equipment are used in cardiac surgery and other cardiovascular procedures performed to repair structural defects of the cardiovascular system and damaged or blocked valves and vessels.
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