PUNE, India, May 22, 2017 /PRNewswire/ --
Cardiac Surgery Instruments Market will reach $1.63 billion from $1.16 billion, at a CAGR of 7.1% form 2017-2022. North America hold largest share while Asia is expected to grow at the highest CAGR with CABG segment account for the largest share followed by heart valve surgery of the global market.
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The global cardiac surgery instruments market is expected to reach USD 1.63 billion by 2022 from USD 1.16 billion in 2017, at a CAGR of 7.1%. Major factors contributing to the growth of the global market include growing prevalence of cardiac conditions and the subsequent increase in the number of surgical procedures, rising geriatric population, and growing investments, funds, and grants by government bodies worldwide.
North America commanded the largest share of the global market in 2017. Asia is expected to grow at the highest CAGR during the forecast period. The high growth of the Asian market is attributed to rising awareness programs, high incidence of cardiac diseases, increasing number of hospitals, increased funding for cardiac research, and improvements in the healthcare sector of Asian countries. Some prominent markets in Asia include China, India, and Japan.
On the basis of application, the market has been mainly segmented into coronary artery bypass graft (CABG), heart valve surgery, pediatric cardiac surgery, and other applications. The CABG segment is expected to account for the largest share followed by heart valve surgery of the global market. The growth of the CABG and heart valve surgery application is due to various factors such as high incidence of cardiac and heart valve diseases and the resulting increase in the number of surgical procedures.
Based on end users, the market is categorized into hospitals and cardiac centers, and ambulatory surgery centers. In 2017, hospitals and cardiac centers segment is expected to dominate the market. The large share of this segment is attributed to increasing incidence of heart diseases and the subsequent increase in the number of cardiac surgery procedures for the treatment of these diseases, increase in funding &infrastructural development in hospitals, and rising government initiatives and awareness programs.
Top 25 Companies Analyzed for This Study are - Becton, Dickinson and Company (U.S.), B. Braun Melsungen AG (Germany), Teleflex Incorporated (U.S.), Medline Industries, Inc. (U.S.), Kls Martin Group (U.S.), Sklar Surgical Instruments (U.S.), Scanlan International (U.S.), Stille (Sweden), Sontec Instruments (U.S.), Rumex International Corporation (U.S.), Surgins (U.K.), Surtex Instruments Ltd. (U.K.), Fehling Surgical Instruments, Inc (Germany), Geister Medizintechnik GmbH (Germany), Symmetry Surgical Inc. (U.S.), Cardivon Surgical Inc. (China), Delacroix-Chevalier (France), Wexler Surgical Inc. (U.S.), Jj International Instruments (India), Judd Medical (U.K.), Accurate Surgical & Scientific Instruments Corp. (Assi) (U.S.), Boss Instruments, Ltd. (U.S.), Hebson Surgical Company (India), Taurus (Germany), Medicon Eg (Germany).
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