Pune, India -- (SBWIRE) -- 07/13/2018 -- Market Scenario:
Cardiac surgery instruments are specially designed tools optimized for performing heart surgery. The global cardiac surgery instruments market is expected to grow at a CAGR of 6.9 % during the review period ending 2023.
Increasing Number Of Cardiac Surgeries Is The Prime Driver Of The Market Growth
Increasing number of heart diseases and cardiac surgery, growing healthcare sector and increasing number of hospitals is the prime driver of the market. According to the World Health Organization estimates, in 2015 alone over 17.7 million people representing 31% of all global deaths expired due to complications arising due to cardiovascular diseases. The World Health Organization further states that 82% of the total deaths occurred were in the low- and middle-income countries. Additionally, the Centers for Disease Control and Prevention have said that in 2015, over 630,000 Americans died from heart disease-related issues, resulting in 1 in every 4 deaths.
Favorable Reimbursement Policies Coupled With The Growth In Risk Factors Will Drive A Significant Demand
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Other drivers of the market are favorable reimbursement policies, increasing the prevalence of cardiovascular diseases and rising healthcare expenditure are constraining the market. The growth in risk factors such as increasing geriatric and diabetes population, sedentary lifestyles, high intake of fat-rich foods and others are indirectly driving the market. In the latest study conducted by World Health Organization, approximately 422 million people had diabetes in 2015. As per the National Diabetes Statistics Report suggested by Centres for Disease Control and Prevention, it is found that 9.4% of the U.S. population, i.e. 30.3 million people had diabetes in 2015.
Growing Stringency Of Regulations May Hamper The Market
The growing stringency of FDA regulations and uncertainty of healthcare policies in the U.S are significant constraints on the market. The poor per capita income of the underdeveloped economies of the world and the poor healthcare expenditure are dragging the market.
To generate an accurate assessment of the global cardiac surgery Instruments market, the report is segmented by type
Based on the type, the market is segmented by forceps, graspers, clamps, scissors, retractors, spreaders, graspers, and others.
Based on application, the market is segmented by coronary artery bypass grafting (CABG), valve repair or replacement, aneurysm repair, heart transplant, and others.
Based on the type of material, the market is segmented into stainless steel, tungsten carbide, and others.
Based on end user market is segmented into hospitals and ambulatory surgery centers.
Based on regions, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa.
The Americas dominated the market due to substantial cardiovascular patient's population, high healthcare expenditure, faster uptake of technology, and the presence of the leading players. The U.S. and the Canada dominate Americas market.
Europe accounted for the second largest market led by Germany, France, and Russia. The deteriorating healthcare conditions in Russia followed by the rising consumption of alcohol are driving the Russian market.
The Asia Pacific is expected to be the fastest growing cardiac surgery instruments market driven by the ever-increasing patient's pool, the transition of the economic and social conditions and developing economies of China and India. However, it has to be noted that the Asian countries are stapled rice and fish eaters, which acts as a natural constraint on the market. Thus, Japan despite possessing the characteristics of developed economies has some of the lowest rates for cardiovascular diseases.
The Middle East & Africa holds the least share of the market owing to the poor percentage of fat and sugar-rich diets, especially in the African region.
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Detailed Table of Contents:
1 Report Prologue
2.2 Scope Of The Study
2.2.1 Research Objective
2.3 Market Structure
2.4. Market Segmentation
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.4 Mega Trends
4.5 Macroeconomic Indicators
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Porters Five Forces
5.3 Demand & Supply: Gap Analysis
5.4 Pricing Analysis
5.5 Investment Opportunity Analysis
Some of the key players operating in the market are Johnson & Johnson Services, Inc. (US), DEALMED MEDICAL SUPPLIES LLC (US), Stryker (US), B. Braun Melsungen AG (Germany), STILLE (Sweden), MedServ International (Germany), Delacroix-Chevalier (France), SIM Surgical (US), Gebrüder Martin GmbH & Co. KG (Germany), Surtex Instruments Limited (UK) and others.
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