The APAC region is the preferred destination for medical tourists as a coronary artery bypass procedure can be almost 80% cheaper in this region than in places such as the U.S. and Europe.
Albany, NY -- (SBWIRE) -- 12/18/2017 -- A fact sheet published by the WHO states that about 17.5 mn people die due to cardiovascular diseases every year, which is about 31% of the deaths across the globe. These alarming statistics are the obvious reason for growth of the global cardiovascular surgery devices market. Apart from that, the growing pool of elderly people is expected to be the main contributor to the bright future of the global cardiac surgery devices market. Recently, a new study titled "Cardiac Surgery Devices Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027" has been broadcasted to the wide repository of Market Research Hub (MRH), that tracks the performance of the global cardiac surgery devices market for the projected period of ten years i.e. between 2017 and 2027.
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Moreover, the report consists of trends following the market, drivers and also the restrains that are limiting the growth of the global market for cardiac surgery devices market. According to the recent findings, with rapid technological advancement and innovation, cardiac surgery devices market is expected to grow globally.
Cardiac surgery is performed by heart surgeons due to problems in the heart diseases like correct congenital heart disease, valvular heart disease, ischemic heart disease. Research expects it to record a CAGR of 3.7% and be worth over US$ 2 Bn by end 2027. Key investors in the cardiac surgery devices market are familiarizing newer products to try and keep or even increase their market share. For e.g. -Medtronic has launched its minimally invasive cardiac surgery products in the U.S. through an exclusive distribution agreement with Miami Instruments LLC. Technology will continue to support advancements in the global cardiac surgery devices market in the upcoming years.
Segmental Analysis
Regionally, the cardiac surgery devices market has been studied on the basis of seven major geographic regions viz. MEA, APEJ, Japan, Eastern Europe, Western Europe, Latin America, and North America. Of these, North America dominates the global cardiac surgery devices market as it is larger than both Western Europe and APEJ combined with an estimated value of over half a billion dollars in 2017.
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Moreover, the research has been analyzed on the basis of product type, procedure and end-users. By procedure, it covers coronary artery bypass grafting, minimally invasive surgery. Major product types include heart lung machine, breathing heart surgery systems, catheters, perfusion disposables. Amongst, the perfusion disposables segment represents a considerably larger market opportunity than either catheter, beating heart surgery systems, or heart lung machines in the cardiac surgery devices market.
Competitive Landscape
Later, the study describes that the medical devices industry is dominated by a few companies that are world leaders in the field. A section covering key players along with a brief company overview, industry classification codes, legal information, segment and company financials, key ratios, recent developments, a strategy overview, and a SWOT analysis has been also added to the report. At present, key players include Biotronik, Braile Biomedica, Cook Medical Inc., Estech, Abiomed, B. Braun Melsungen AG, Lepu Medical technology Co ltd., Smith Medical, Getinge-Maquet Germany Holding GmbH, MicroPort Scientific Corporation, Edwards Lifesciences Corporation, Angiodynamics, Teleflex Incorporated, C. R. Bard, Inc, Terumo Corporation, LivaNova PLC, Boston Scientific Corporation, Medtronic, and Abbott Laboratories.
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