Understand How The Cardiovascular Surgery Devices And Equipment Market Is Poised To Grow Through 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Cardiovascular Surgery Devices And Equipment Global Market Report 2023, the cardiovascular surgery devices and equipment market is expected to show significant growth in the forecast period.
Key insights from the cardiovascular surgery devices and equipment market forecast include:
- Market Size
The global cardiovascular surgery devices and equipment market is expected to grow from $1.68 billion in 2022 to $1.75 billion in 2023 at a compound annual growth rate (CAGR) of 3.7%. The market size of cardiovascular surgery devices and equipment is expected to grow to $1.91 billion in 2027 at a CAGR of 2.2%.
- Major Driver
The rising geriatric population along with the rising deaths related to cardiovascular disorders is driving the cardiovascular surgical devices market. According to American Heart Association (AHA), in the US, approximately 43.7 million aged above 60 suffered from cardiovascular disorders. It is also reported by AHA that death related to cardiac diseases amount to 17.3 million per year and is expected to rise to more than 23.6 million by 2030, worldwide. Due to these factors, a higher number of surgeries are being performed, thereby driving the cardiovascular surgery devices and equipment market.
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- Key Trend
Companies in the cardiovascular surgery devices and equipment market are investing in second-generation bioresorbable stents and as well rectifying the glitches which occurred in the earlier version of bioresorbable stents. This advancing segment is poised to garner $247 million by 2025. Due to the all-new device features such as thinner strut thicknesses, faster resorption times, and better radial force, these are expected to grow at a higher growth rate. A higher elective procedure volume due to the less-invasive nature of PCIs, when compared to coronary artery bypass grafting, is expected to drive bioresorbable stents adoption. For instance, Amaranth Medical has developed three medical devices with thinner strut thickness, the latest bearing a magnitude of 100 microns.
- Largest Region
North America was the largest region in the global cardiovascular surgery devices and equipment market in 2022.
- Major Players
Major players in the cardiovascular surgery devices and equipment market are Abbott Laboratories, Boston Scientific Corporation, Cook Medical, C.R.Bard, Abiomed, St.Jude medical, Angiodynamics Inc., Transmedics, Terumo cardiovascular systems corporation, and Edwards Life Science Corporation.
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Key Cardiovascular Surgery Devices And Equipment Market Segments
The global cardiovascular surgery devices and equipment market is segmented –
1) By Product Type: Beating heart surgery systems, Cardiopulmonary Bypass Equipment, Cardiac Ablation Devices, Perfusion Disposables
2) By End User: Home and Ambulatory care, Hospitals, Diagnostic laboratories, Research laboratories
3) By Application: Congenital Heart Defects, Cardiac Arrhythmia, Coronary Heart Disease, Congestive Heart Failure, Other Applications
The Cardiovascular Surgery Devices And Equipment Global Market Report 2023 provides an in-depth analysis on the cardiovascular surgery devices and equipment market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the cardiovascular surgery devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
View More Related Reports –
Cardiovascular Devices Global Market Report 2023
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