United States Cardiovascular Needle Market Analysis Report 2022-2026: Growing Use of Surgical Staples & High Costs Involved Challenge Market Growth

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Apr 21, 2022, 14:30 ET

DUBLIN, April 21, 2022 /PRNewswire/ -- The "The US Cardiovascular Needle Market: Analysis By Type, By Application, By Usage, By End User, Size and Trends with Impact of COVID-19 and Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.

The US cardiovascular needle market was valued at US$21.94 million in 2021, and is foreseen to reach US$31.53 million by 2026.

There are two types of cardiovascular needles: single use or eyeless needles and multiple use or eyed needles. Surgalloy and Ethalloy, two new stainless-steel alloys with high nickel concentrations, are used to make cardiovascular needles. The US cardiovascular needle market is expected to expand at a CAGR of 7.65% during the forecasted period of 2022-2026.

Market Segmentation Analysis:

The report divides the segments into two different categories on the basis of type: round bodied needles and cutting needles. The round bodied needle segment held the highest share of 57% in 2021, owing to the easy separation of tissues and leak proof suture. The round bodied needle is the most popular type, which is used in all soft tissue approximation including cardiovascular surgery.

The report has segmented the market into two segments on the basis of application: open heart surgery and cardiac valve procedures. Open heart surgery segment is the fastest growing segment with a CAGR of 8% during the forecast period of 2022-2026, due to the surge in congenital abnormalities and vascular malfunction in the senior population. According to the American Heart Association, at least 48.0% of adults have some form of cardiovascular conditions in the U.S.

n this report, the market is segmented into two major segments, on the basis of usage: single use and multiple use. Due to the increased awareness of infectious diseases and time efficiency as there is no need to re thread, the single use segment is the fastest growing segment at a CAGR of around 8% during the forecast years of 2022-2026.

The report includes the bifurcation of market into three segments on the basis of end user: Hospitals and Clinics, Cardiac Centers and Ambulatory Surgical Centers. Hospitals and clinics segment dominated the market in 2021 by occupying more than 60% share.

Hospitals are being upgraded with modernized equipment, digital pathology and artificial intelligence as a result of advancements in healthcare facilities. Hospitals collaborate with a variety of doctors, specialists, and other healthcare professionals to provide better care. All cardiovascular disorders requiring the need of cardiovascular needles can be treated in majority of hospitals.

US Cardiovascular Needle Market Dynamics:

Growth Drivers

The US cardiovascular needle market growth is driven by the rising number of cardiovascular procedures in the region. Physical inactivity and an unhealthy lifestyle are increasing the incidence of cardiovascular conditions.

Further, the market has been expanding during the past few years, owing to factors such as, rapid urbanization in the US, increasing old age population, increase in the US healthcare expenditure, increased prevalence of diabetes, and advancement in surgeries.

Challenges

Some challenges are also impeding the growth of the market such as the growing use of surgical staples and high costs involved in cardiac treatments. Moreover, the use of robots in cardiovascular surgeries has decreased the demand for needles as robotic procedures require stapling of the wounds.

Trends

In the medical field, technological advancements help to satisfy unmet clinical needs while also opening up new markets. New materials and designs have paved the way for cutting-edge technologies, increasing the potential of the cardiovascular needle market.

The further advancements in the technologies and launch of new methods and products like laser drilled cardiovascular needles is expected to improve the efficacy of suturing and drive the market growth in the coming years. Moreover, the integration of AI and telehealth in cardiovascular surgeries is also expected to propel the market growth in the coming years.

Competitive Landscape

The US cardiovascular needle market is fragmented. Manufacturers are focusing on using high-quality surgical-grade stainless steel and alloy combinations to create new products that lessen tissue stress.

The key players of the market offers a variety of needles with different patterns, shape, size and length. Collaborations and partnerships, innovative product releases, and expansions of manufacturing and distribution units are some of the primary strategies used by companies in the US cardiovascular needle market

The key players of the US cardiovascular needle market are:

Johnson & Johnson Inc.
Medtronic Plc
Becton, Dickinson and Company (BD)
Teleflex Incorporated
Meril Life Science
KLS Martin Group
CP Medical
Sklar Surgical Instruments
Rumex International Corporation
FSSB surgical needles GmbH

Key Topics Covered:

1. Executive Summary

2. Introduction
2.1 Cardiovascular Needle: An Overview
2.1.1 Types of Cardiovascular Needles
2.1.2 Components of Suture Needles
2.2 Cardiovascular Needle Segmentation: An Overview
2.2.1 Cardiovascular Needle Segmentation

3. The US Market Analysis
3.1 The US Cardiovascular Needle Market: An Analysis
3.1.1 North America Cardiovascular Needle Market by Value
3.1.2 North America Cardiovascular Needle Market by Region (The US, Canada and Mexico)
3.1.3 The US Cardiovascular Needle Market by Value
3.1.4 The US Cardiovascular Needle Market by Type (Round Bodied Needles and Cutting Needles)
3.1.5 The US Cardiovascular Needle Market by Application (Open Heart Surgery and Cardiac Valve Procedures)
3.1.6 The US Cardiovascular Needle Market by Usage (Single Use and Multiple Use)
3.1.7 The US Cardiovascular Needle Market by End User (Hospitals and Clinics, Cardiac Centers and Ambulatory Surgical Centers)
3.2 The US Cardiovascular Needle Market: Type Analysis
3.2.1 The US Round Bodied Cardiovascular Needle Market by Value
3.2.2 The US Cutting Cardiovascular Needle Market by Value
3.3 The US Cardiovascular Needle Market: Application Analysis
3.3.1 The US Open Heart Surgery Cardiovascular Needle Market by Value
3.3.2 The US Cardiac Valve Procedures Cardiovascular Needle Market by Value
3.4 The US Cardiovascular Needle Market: Usage Analysis
3.4.1 The US Single Use Cardiovascular Needle Market by Value
3.4.2 The US Multiple Use Cardiovascular Needle Market by Value
3.5 The US Cardiovascular Needle Market: End User Analysis
3.5.1 The US Hospitals and Clinics Cardiovascular Needle Market by Value
3.5.2 The US Cardiac Centers Cardiovascular Needle Market by Value
3.5.3 The US Ambulatory Surgical Centers Cardiovascular Needle Market by Value

4. Impact of COVID-19
4.1 Impact of COVID-19
4.1.1 Impact of COVID-19 on Healthcare
4.1.2 Impact Of COVID 19 On Heart
4.1.3 Impact of COVID-19 on the US Cardiovascular Needle Market

5. Market Dynamics
5.1 Growth Drivers
5.1.1 Rising Prevalence of Cardiovascular Diseases
5.1.2 Rapid Urbanization in the US
5.1.3 Increasing Old Age Population
5.1.4 Increase in the US Healthcare Expenditure
5.1.5 Increased Prevalence of Diabetes
5.1.6 Advancement In Surgeries
5.2 Challenges
5.2.1 Growing Use of Surgical Staples
5.2.2 High Costs Involved
5.3 Market Trends
5.3.1 Use of AI in Healthcare
5.3.2 New Product Launches
5.3.2 Growing Adoption of Telehealth

6. Competitive Landscape
6.1 The US Cardiovascular Needle Market Players: Products Offering

7. Company Profiles
7.1 Business Overview
7.2 Operating Segments
7.3 Business Strategies