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The cardiac surgery device market will reach $2.4 billion by 2032, growing at a CAGR of 3.6%.

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Cardiac surgical devices market

The cardiac surgery device market is poised for steady growth and its valuation is expected to reach the level $1.7 billion by the end of 2022. According to the latest market research, the market is expected to grow at a compound annual growth rate (CAGR) of 3.6% during the forecast period from 2022 to 2032. It is expected that by 2032 the market will reach a valuation of approx. $2.4 billioncaused by the increasing incidence of cardiovascular diseases.

In 2021, disposable perfusion devices led the market by product type, accounting for a significant demand share of approximately 59.1%. These devices are crucial during open heart procedures such as coronary artery bypass grafts, repair of congenital heart defects, abdominal aortic aneurysm repair, ventricular remodeling and implantation of cardiac assist devices.

Cardiac surgical devices, such as the heart-lung machine, play an essential role in cardiac surgery, especially in cardiopulmonary bypass. As cardiovascular diseases continue to pose significant health challenges across the globe, the demand for these devices is expected to increase, driving the market growth.

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By encouraging the use of disposable perfusion devices, the cardiac surgical instruments market is expected to benefit from the growing popularity of heart-lung tables. Cardiovascular disease is the leading cause of death in the United States, accounting for more than one-third of all deaths worldwide and 17 percent of U.S. health care costs. According to projections by the American Heart Association, by 2030, 40% of Americans will suffer from cardiovascular diseases, the direct costs of which will amount to over $820 billion.

A well-developed medical infrastructure ensures that North America retains its crown

North America has a world-class medical infrastructure combined with a population that is rapidly aging and suffering from cardiorespiratory disorders.

This combination ensures that the region will be larger than Western Europe and APEJ combined in 2017, with a value of just under $555 million.

North America is on track to achieve a CAGR of 4.1% over the period 2017-2027, which should result in the market in the region reaching USD 830 million by the end of 2027.

Most new developments are taking place in North America, and the high level of acceptance of modern technologies makes it an extremely profitable region in the global heart surgery device market.

Minimally invasive surgery is gaining popularity in the cardiac surgery device market

Coronary artery bypass grafting is expected to hold the largest share of the cardiac surgery device market by procedure in 2017 and is unlikely to relinquish this position any time soon.

However, modern advances in cardiopulmonary bypass techniques, surgical approaches, and incisions have made minimally invasive surgery increasingly popular in recent times.

The advantage of minimally invasive surgery is reduced surgical trauma and reduced pain, which is expected to drive the cardiac surgical devices market in the long run.

In terms of CAGR, these two segments are leading the global cardiac surgery devices market, with coronary artery bypass graft recording a CAGR of 3.5% and minimally invasive surgery registering a CAGR of 4.1% in terms of revenue during the forecast period.

Focus on hospitals rather than ambulatory surgery centers in the cardiac surgery market

The hospital segment is larger in terms of end-users in the cardiac surgery market than the ambulatory surgical center segment, and this trend is expected to continue for the foreseeable future.

An attractiveness index of 1.1 and a market opportunity of nearly $1.2 billion by the end of 2027 should prompt all major companies to actively target the hospital end-user segment of the cardiac surgery device market.

Company panel:

Companies actively engaged in the global Cardiac Surgical Devices market profiled in the report include: Biotronik, Braile Biomedica, Cook Medical Inc., Estech, Abiomed, Smith Medical, MicroPort Scientific Corporation, Edwards Lifesciences Corporation, Angiodynamics, Teleflex Incorporated, CR Bard , Inc, B. Braun Melsungen AG, Getinge-Maquet Germany Holding GmbH, Terumo Corporation, LivaNova PLC, Lepu Medical technology Co ltd., Boston Scientific Corporation, Medtronic and Abbott Laboratories.

Important conclusions:

The growing preference for minimally invasive surgical procedures is one of the recent trends observed in the cardiac surgical devices market.

Minimally invasive cardiac surgery has seen a significant increase in popularity over the past decade, largely due to reduced pain and surgical trauma following this procedure.

Although coronary artery bypass grafting is now much more widespread, key stakeholders are advised to focus on minimally invasive procedures as patients will almost certainly prefer this form of treatment.

Additionally, the system may be widely adopted for beating heart surgery in the coming days.

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Key segments:

By product:

  • Heart lung machine
  • Cardiac respiratory surgery systems
  • Catheters
    • Ablation catheter
    • Drainage catheter
  • Disposable perfusion devices
    • Oxygenators
    • Centrifugal pumps
    • Cardioplegia delivery system

By end user:

  • Hospitals
  • Outpatient surgery centers

According to the procedure:

  • Coronary artery bypass grafting
    • On the CABG pump
    • Turn off the CABG pump
  • Minimally invasive surgery

By region:

  • North America
  • Latin America
  • west Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

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Future Market Intelligence Information (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth knowledge of the drivers of market demand. FMI is a leading global provider of market information, advisory, consulting and events services for the packaging, food and beverage, consumer technology, healthcare, industrial and chemicals markets. With a massive team of over 400 analysts worldwide, FMI provides global, regional and local expertise in a variety of domains and industry trends in over 110 countries.

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