Global Cardiovascular Surgical Devices Market (2022 to 2027) - Impact Analysis of COVID-19
DUBLIN, Dec. 30, 2021 /PRNewswire/ -- The "Cardiovascular Surgical Devices Market Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, Impact of COVID-19, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Cardiovascular diseases, or CVDs, have continued to be considered among the top pain counts of medical applications worldwide. Globally, cardiovascular devices are being used in the diagnosis of heart diseases and treatment of heart-related problems.
Besides, these devices actively facilitate to repair of structural defects of the cardiovascular system of the heart, and its damaged or blocked valves and vessels. In addition, with conditions like stroke or IHD (ischemic heart disease) adding heavily to death and disability, cardiovascular surgical devices and their consequence in heart-related therapies has been quickly brought into the spotlight in recent years. According to the publisher analysis, Global Cardiovascular Surgical Devices Market is projected to reach US$ 69.74 Billion by 2027.
Impact of Covid-19 on Cardiovascular Surgical Devices Industry
The COVID-19 had negatively affected the global cardiovascular surgical devices industry during the initial period of 2020. The outbreak of Covid-19 announced the emergence of healthcare by the World Health Organization (WHO). Besides, the governments imposed nationwide lockdown and a ban on flights.
In addition, due to the sudden lockdown, the concerned activities on cardiac surgeries stopped and postponed; the market experienced a downfall. However, the latter period of the pandemic shows the significant growth of the market. Moreover, the usage of cardiac surgeries has been increased, and the market experienced the foremost growth. The market shares are expected to have their average growth with the ascendance of the year 2021.
Cardiology Devices Improved Significantly & Indications Expanded
Over the past decade, technologies used to develop cardiology devices have improved significantly, and indications for these devices have expanded. Further, an increasing number of patients being managed with cardiology devices, exponential therapeutically, and monitoring outcomes have also driven the market. Remarkably, artificial intelligence is an advancement that positively impacts cardiovascular devices with improved capabilities to diagnose certain heart conditions.
For instance, in October 2020, GE Healthcare received the US FDA 510k clearance for its ultra-edition package of vivid cardiovascular ultrasound systems, including new features based on artificial intelligence (AI) that enable clinicians to acquire faster, more repeatable exams consistently.
Worldwide Cardiovascular Surgical Device Market Size was US$ 49.77 Billion in 2021
By Type, the publisher holds meaningful existence of devices like Perfusion Disposables, Cardiopulmonary Bypass Equipment, Beating Heart Surgery Treatment and Ventricular Assist Device in the Global Cardiovascular Surgical Devices Market. Wherein, the rising prevalence of atrial fibrillation is an essential contributor to the popularity of these devices. Remarkably, in cardiac ablation device technologies, the products inscribe an ever-increasing demand for minimally invasive ablation procedures and discovery.
Heart Failure and Arrhythmia Fuelled Cardiac Rhythm Management (CRM)
In the report, By Application, we have covered interventional cardiac surgery, cardiac rhythm management and traditional cardiac surgery. Increased heart failure and arrhythmia have fuelled the demand for technologically advanced cardiac rhythm management (CRM) devices. Cardiac rhythm management devices manage and monitor cardiac issues and have applications in repairing, restoring, and healing cardiac activities. Moreover, owing to the increasing life expectancy and availability of advanced technologies, the adoption of cardiac rhythm management devices has also increased in the past few years.
Global Cardiovascular Surgical Devices Industry will grow with a CAGR of 5.78% during 2021-2027
By end-user, the market is segregated into hospitals, cardiac diagnostic centres and ambulatory surgical centres. The well-developed infrastructure, high footfall, and increased healthcare expenditure have made the hospital the most preferred end-use extension. Moreover, a surge in the volume of surgeries due to the expanding prevalence of heart diseases and other disorders in hospitals is expected to boost the segment's growth over the forecast period. In addition, the high demand for cardiac surgeries is increasing the number of operating rooms aiding the development of the part, correspondingly boosting the growth of the Global Cardiovascular Surgical Devices Market.
North America dominated the market share for Global Cardiovascular Surgical Devices Market
North America dominates the market owing to a well-established healthcare division. An increasing number of surgeries and a thriving prevalence of cardiac dysfunctions are also anticipated to drive the region. Moreover, the massive adoption of advanced tools and devices for surgeries propels growth.
Similarly, Asia Pacific also has a significant market in respect of the market share. Development in healthcare facilities and reimbursement schemes in developing economies are vital factors aiding growth. China owing to the high geriatric population and a fast developing economy, significantly contributes to the market. Besides, a growing number of cardiac surgeries are anticipated to support growth during the forecast period.
Prominent Companies in Global Cardiovascular Surgical Devices Market Insights
Some prominent players are Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences, Cardinal Health Inc., Medtronic PLC and GE Healthcare. In the report we have covered the players who have been launching different products & accessories and are involved in technological advancements and strategic initiatives, such as mergers & acquisitions.
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Cardiovascular Surgery Devices Market
6. Market Share - Global Cardiovascular Surgery Devices
6.1 By Type
6.2 By Application
6.3 By End-Use
6.4 By Region
7. Type - Global Cardiovascular Surgery Devices Market
7.1 Perfusion Disposables
7.2 Cardiopulmonary Bypass Equipment
7.3 Beating Heart Surgery Treatment
7.4 Ventricular Assist Device
8. Application - Global Cardiovascular Surgery Devices Market
8.1 Interventional Cardiac Surgery
8.2 Cardiac Rhythm Management
8.3 Traditional Cardiac Surgery
8.4 Others
9. End-Use - Global Cardiovascular Surgery Devices Market
9.1 Hospitals
9.2 Cardiac Diagnostic Centres
9.3 Ambulatory Surgical Centre
10. Region - Global Cardiovascular Surgery Devices Market
10.1 North America
10.2 Europe
10.3 Asia Pacific
10.4 ROW
11. Company Analysis
11.1 Abbott Laboratories
11.1.1 Overview
11.1.2 Recent Development
11.1.3 Revenue
11.2 Boston Scientific Corporation
11.2.1 Overview
11.2.2 Recent Development
11.2.3 Revenue
11.3 Edwards Lifesciences
11.3.1 Overview
11.3.2 Recent Development
11.3.3 Revenue
11.4 Cardinal Health Inc.
11.4.1 Overview
11.4.2 Recent Development
11.4.3 Revenue
11.5 Medtronic PLC
11.5.1 Overview
11.5.2 Recent Development
11.5.3 Revenue
11.6 GE Healthcare
11.6.1 Overview
11.6.2 Recent Development
11.6.3 Revenue
For more information about this report visit https://www.researchandmarkets.com/r/etps1t
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