Cardiac Surgery Devices Market

Cardiac Surgery Devices Market: North America Expected to be the Most Lucrative Regional Market Throughout the Forecast Period: Global Industry Analysis 2012 - 2016 and Opportunity Assessment 2017 - 2027

Technological advancements vital in the cardiac surgery devices market

Cardiac surgery devices are manufactured according to the needs of the patients as well as the cardiologists. As surgical methods are becoming more advanced, cardiac surgery devices have become the showpiece of innovation in the operation theatre. Key stakeholders in the cardiac surgery devices market are introducing newer products to try and retain 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 underpin advancements in the global cardiac surgery devices market in the coming decade.

Data management systems integrated into heart lung machine systems

Rapid evolution in electronic data collection during cardiac surgery is anticipated to influence companies in the cardiac surgery devices market to manufacture novel products in the near future. Several data management systems have been developed that facilitate seamless data integration from the heart lung machine. The company LivaNova offers a DMS charting system that automatically records all events and values of the C5, S5, and SIII heart-lung machines along with other devices such as blood gas analysers, patient monitors, cerebral oximetry devices, and ACT meters.

Minimally invasive surgeries popular in the cardiac surgery devices market

Greater occurrence of coronary heart diseases has heightened the focus on minimally invasive surgical procedures. Heart disease is one of the most common and widespread global diseases and can be typically traced to obese patients. Over the last decade, minimally invasive cardiothoracic surgery has surged in popularity mainly because of the numerous benefits of this procedure such as reduced surgical trauma and decreased pain in the surgical area. With the refinement of transthoracic echocardiography, development of specialised robotic technology and surgical instruments, and perfusion technique innovations, cardiac surgery has been given the requisite tools required to perform minimally invasive surgery.

Reusable and robust stabilising arms witnessing increased adoption

Surgical stabilisation products offer retraction, positioners, and stabilisers during a number of surgical procedures where a human hand is normally needed and they provide exceptional stability and grip during off pump cardiac surgery. For e.g. – Medtronic offers Urchin Heart and Starfish2 Positioners that hold the heart in a manner allowing the surgeon to easily access the blocked vessels needing bypass graft. In addition, the Octopus Tissue Stabilizer minimises motion of a small area of the heart while the rest continues to beat normally. Thus, the surgeon can perform CABG surgery without using the heart-lung machine or stopping the heart. The reusable stabilising arm enhances the cost effectiveness and stability of the procedure, thereby boosting the prospects of the cardiac surgery devices market.

North America larger than Western Europe and APEJ combined

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. It is expected to retain its commanding position in the global cardiac surgery devices market as it is on track to record a CAGR of 4.1%, reaching a market valuation of just under US$ 830 Mn by the end of the forecast period. MEA is expected to witness the highest value CAGR among all regions (4.9%); however, the region is anticipated to remain the least attractive market in the global cardiac surgery devices market in terms of revenue, recording a market attractiveness index of 0.5 over the forecast period. The cardiac surgery devices market in North America is expected to witness flourishing growth owing to increasing demand for cardiac surgery devices by hospitals and ambulatory surgery centres in U.S and Canada.

Medical tourism to benefit the cardiac surgery devices market

Medical tourism has become quite popular amongst patients afflicted with cardiovascular ailments as it allows high quality care to be provided immediately in a cost-effective manner. This is especially prominent in the developed regions of Europe and North America from where patients travel to places such as Thailand and India to avail of medical tourism. 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. In India, the average cost of the procedure is approx. US$ 9000, which is substantially lower than the US$ 120,000 it costs in the U.S.

Cardiovascular diseases are the leading cause of death worldwide. The expenditure on healthcare is showing a noticeable uptrend in both developed and emerging economies and the increased life expectancy coupled with the stress of modern day life should make geriatric patients demand more pacemakers. Future Market Insights in an upcoming report titled ‘Cardiac Surgery Devices Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’ has studied the global cardiac surgery devices market for the period 2017-2027.

The medical devices industry is dominated by a few companies that are world leaders in the field. We have profiled some of the largest companies currently involved in the cardiac surgery devices market. We have provided a brief company overview, industry classification codes, legal information, segment and company financials, key ratios, recent developments, a strategy overview, and a SWOT analysis. This allows you to gain a holistic picture of what your nearest competition plans in the cardiac surgery devices market, allowing you to plot your course of action accordingly.

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. Every region has a dedication section in the cardiac surgery devices market report wherein we look at the regional drivers, restraints, opportunities, and trends. The regulations that pertain to that specific region have been mentioned and a pricing analysis follows therewith. We have analysed the largest countries in each region of the cardiac surgery devices market and compared and contrasted the historical market size from 2012-2016 with the expected market size at the end of the forecast period in 2027.

An important chapter in the cardiac surgery devices market report focusses on the regulatory scenario in the cardiac surgery devices market. In an area of medical devices as critical to human lives as cardiac surgery devices, you can expect the norms and guidelines to be extremely stringent as even marginal errors could be very dangerous. It also includes the Porter’s Five Forces Analysis and the price forecast for every device available in the cardiac surgery devices market for every region assessed in the global cardiac surgery devices market report. The potential installation and volume analysis concludes this portion of the cardiac surgery devices market report.

The cardiac surgery devices market report begins with the executive summary that is a succinct yet thorough first glance at the global market for cardiac surgery devices. This section highlights important facts that you may wish to know about this market and it is presented in a simple format to quickly browse through. Our expert analysts have assessed the cardiac surgery devices market for a 10 -year period and have made useful conclusions and recommendations. These recommendations take the form of an overall approach to adopt, segment to target, and region to prioritise with a differentiating strategy to truly succeed in the cardiac surgery devices market. The Wheel of Fortune is a graphical representation of the cardiac surgery devices market that can be immensely beneficial to our readers.

The market introduction is largely complementary to the executive summary of the cardiac surgery devices market report. We have defined the cardiac surgery devices market as a whole along with the various products that are available in the global market. This is followed by the cardiac surgery devices market taxonomy.

Cardiac Surgery Devices Market Taxonomy

Product

End User

Procedure

Region

  • Heart Lung Machine

  • Breathing Heart Surgery Systems

    • Stabilisers

    • Positioners

  • Catheters

    • Ablation Catheter

    • Drainage Catheter

  • Perfusion Disposables

    • Oxygenators

    • Centrifugal Pumps

    • Cardioplegia Delivery System

  • Hospitals

  • Ambulatory Surgical Centres

  • Coronary Artery Bypass Grafting

    • On pump CABG

    • Off pump CABG

  • Minimally Invasive Surgery

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • APEJ

  • Japan

  • MEA