Cardiac Surgery Equipment Market Size, Share, By Product (Scalpel, Scissors, Needle Holder Clamps, Forceps), By Application (Coronary Artery Bypass Graft, Heart Valve Surgery, Pediatric Surgery and Heart Transplant), By End-User (Hospitals and ASC) and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Trends, Analysis and Forecast till 2034

Report Code: PMI480721 | Publish Date: March 2024 | No. of Pages: 170

Global Cardiac Surgery Equipment Market Overview

Cardiac Surgery Equipment Market Size was valued at US$ 1.8 billion in 2024 and is expected to grow at a CAGR of 3.7% to reach US$ 2.6 billion by 2034

Cardiac surgery devices are devices used during an open-heart procedure to repair structural defects in the cardiovascular system, such as coronary artery bypass grafting, congenital heart defects, abdominal aortic aneurysm repair, ventricular remodeling, and implantation of cardiac assist devices. Devices such as heart-lung machines are used during cardiothoracic surgery and are most commonly used to perform a cardiopulmonary bypass.

Expansion of the cardiovascular device product range by top healthcare businesses is expected to further boost demand for efficient cardiac surgery devices, accessories, and surgical techniques. In order to provide efficient, safe, and successful product improvements, these corporations are also inclined to form alliances and purchase other businesses. The global market for cardiac surgery devices is anticipated to expand at a compound annual growth rate (CAGR) of 3.6% between 2022 and 2034 as a result of the aforementioned causes.

Cardiac Surgery Equipment Market Size

Global Cardiac Surgery Equipment Market Drivers & Restraints

Key Drivers of Cardiac surgery Equipment Market:

Increasing Prevalence of Cardiovascular Diseases:

  • The rising incidence of cardiovascular diseases, such as coronary artery disease and heart failure, globally is a significant driver for the cardiac surgery equipment market.

Technological Advancements:

  • Continuous advancements in cardiac surgery equipment, including minimally invasive techniques, robotic-assisted surgeries, and imaging technologies, are driving market growth. These innovations improve surgical precision, reduce recovery times, and enhance patient outcomes, thereby increasing the adoption of cardiac surgical procedures.

Growing Aging Population:

  • The aging population is prone to cardiovascular diseases, contributing to an increased demand for cardiac surgeries and equipment. Older adults often require interventions like coronary artery bypass grafting (CABG) or valve replacements, which stimulate market growth for specialized surgical equipment.

Increasing Healthcare Expenditure:

  • Rising healthcare expenditure globally, particularly in developed economies, supports investment in advanced cardiac surgery equipment. Access to better healthcare facilities and reimbursement policies also encourage patients to undergo necessary cardiac procedures, boosting market expansion.

Restraints:

High Cost of Equipment:

  • The significant capital investment required for purchasing cardiac surgery equipment, such as advanced imaging systems and robotic platforms, poses a challenge. This cost can deter healthcare facilities, particularly in developing regions, from upgrading their infrastructure and adopting newer technologies.

Stringent Regulatory Requirements:

  • Stringent regulatory frameworks governing the approval and use of cardiac surgery equipment can delay market entry for new technologies. Compliance with safety and efficacy standards adds to the time and cost of bringing innovations to market, affecting adoption rates.

Risk of Surgical Complications:

  • Despite technological advancements, cardiac surgeries carry inherent risks of complications, such as bleeding, infection, and post-operative recovery issues.

Limited Access in Developing Regions:

  • Disparities in healthcare infrastructure and access to specialized cardiac care in developing regions restrict market growth. Limited availability of trained cardiac surgeons, inadequate healthcare facilities, and socioeconomic factors contribute to underutilization of advanced cardiac surgery equipment in these regions.

Global Cardiac Surgery Equipment Market Segmentations & Regional Insights

The market is segmented based on Product, Application, End-User and Region.

Product Insight:

  • Scalpel: A scalpel is a small, sharp knife used in surgery and medical procedures for making precise incisions into skin and tissues. Scalpels are essential tools in surgery due to their ability to make clean and accurate cuts, minimizing tissue trauma and aiding in the healing process.
  • Scissors: Surgical scissors are made from high-quality stainless steel to ensure durability, sharpness, and resistance to corrosion, crucial for maintaining sterility in operating room environments.
  • Needle Holder (Needle Driver): A needle holder is a surgical instrument designed to grasp and manipulate needles during suturing procedures. to accommodate various needle sizes and suture materials. They are essential for surgeons to perform accurate and controlled stitching, ensuring proper wound closure and hemostasis (control of bleeding) during surgeries.
  • Forceps: Surgical forceps are versatile grasping and holding instruments used in various medical procedures to handle tissues, manipulate objects, or grasp and hold surgical instruments. They feature two opposed blades with handles that are operated by squeezing, allowing surgeons to grasp and maneuver delicate tissues or objects with precision.

Application Insights

  • Coronary Artery Bypass Graft (CABG): It is a surgical procedure used to treat coronary artery disease, where arteries supplying blood to the heart become narrowed or blocked. During CABG, a surgeon grafts healthy blood vessels (usually from the patient's own leg or chest) to bypass the blocked coronary arteries, restoring blood flow to the heart muscle. CABG is indicated for patients with severe coronary artery disease who have not responded to medications or less invasive treatments
  • Heart Valve Surgery: It involves repairing or replacing damaged or diseased heart valves, which regulate blood flow within the heart. Heart valve surgery aims to restore proper blood flow, relieve symptoms, and improve heart function. This segment of the cardiac surgery market includes a range of surgical instruments and implants tailored to valve repair and replacement procedures.
  • Pediatric Surgery: It refers to surgical procedures performed on infants, children, and adolescents with congenital heart defects or acquired heart conditions. These surgeries address a wide range of complex cardiac anomalies, such as septal defects (holes in the heart), valve abnormalities, and structural defects affecting heart chambers or blood vessels. This niche market segment focuses on innovations in pediatric cardiac surgical techniques, minimally invasive approaches, and advancements in congenital heart surgery outcomes.
  • Heart Transplant: This is a surgical procedure reserved for patients with end-stage heart failure or irreparable heart damage. During a heart transplant, a diseased heart is replaced with a healthy heart from a deceased donor. This procedure is considered when other treatments, including medications and surgical interventions, have failed to adequately manage heart failure symptoms and prolong life. Heart transplant surgery requires coordination with organ procurement organizations, careful patient selection, and lifelong immunosuppressive therapy to prevent organ rejection.

End User Insights

  • Hospitals: The hospital segment had the largest market share (about 60.1%) among end users in 2021. Hospital cardiac treatment and surgery adoption is helping the industry expand. Hospitals are cutting costs while also raising the standard of care and patient care. When it comes to seeing opportunities to enhance healthcare delivery, hospitals are ahead of the curve.
  • Ambulatory Surgical centers: Ambulatory surgery centers (ASCs), or outpatient surgery centers, are modern medical facilities specializing in outpatient surgical procedures. ASC services do not exceed 24 hours in duration. ASCs tend to focus on an area of care, such as colonoscopy or plastic surgery. Today, nearly 60% of major cardiovascular procedures, including diagnostic cardiac catheterizations, are performed in the hospital outpatient department and only 2% are performed in an ambulatory surgery center (ASC).

Regional Insights

  • North America: North America is the leading market for cardiac surgery equipment, supported by a robust healthcare and surgical services. The presence patients with cardiac issues and technology further stimulates demand. The region's high disposable income and solid environmental consciousness contribute to the market growth. 
  • Europe: Europe has a Cardiac surgery Equipment market led by countries such as Germany, the United Kingdom, and the Nordic countries. The area's diverse landscape and emphasis on ecotourism are driving the cardiac surgery equipment market. European consumers' high health awareness and their preference for long-term healthy heart also supported growth. 
  • Asia Pacific: The Asia Pacific region is growing rapidly due to rising disposable incomes, healthcare sector growth and necessity for equipment involved in cardiac surgery. Countries such as China, Japan, India and Australia are key markets in this region. The growing middle class and the expanding e-commerce sector also contribute to market expansion. 
  • Latin America: Latin America is emerging as a potential market with increased cardiac healthcare concerns. Countries like Brazil and Argentina are seeing growth in ecotourism, supporting demand for equipment has grown over time.
  • Middle East and Africa: The market in the Middle East and Africa is gradually growing, driven by Increasing Prevalence of Cardiovascular Diseases. The UAE and South Africa are notable markets in this region with growing infrastructure and awareness of healthy heart transplants and grafts.

Cardiac Surgery Equipment Market Report Scope:

Attribute

Details

Market Size 2024

US$ 1.8 billion

Projected Market Size 2034

US$ 2.6 billion

CAGR Growth Rate

3.7%

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Product Type- Scalpel, Scissors, Needle Holder Clamps, Forceps

By Application- Coronary Artery Bypass Graft, Heart Valve Surgery, Pediatric Surgery and Heart Transplant

By End-User- Hospitals and Ambulatory Surgical Centers (ASC).

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Product, Application, End-User, and Region:

Segmentation:

By Product:

  • Scalpel
  • Surgical Scissors
  • Needle Holder
  • Clamps
  • Forceps
  • Others

By Application:

  • Coronary Artery Bypass Graft
  • Heart Valve Surgery
  • Pediatric Surgery
  • Heart Transplant

By End -User:

  • Hospitals
  • ASC

By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Global Cardiac Surgery Equipment Market Competitive Landscape & Key Players

The key players operating the Cardiac Surgery Equipment Market Abbott Laboratories, Medtronic Plc., Boston Scientific Corporation, Lepu Medical Technology Co ltd, LivaNova PLC, Terumo Corporation, Getinge-Maquet Germany Holding GmbH, B. Braun Melsungen AG, C. R. Bard, Inc, Teleflex Incorporated, Angiodynamics, Edwards Lifesciences Corporation, MicroPort Scientific Corporation, Smith Medical, Abiomed Inc, Estech, Cook Medical Inc, Braile Biomedica, Biotronik Inc.

Cardiac Surgery Equipment Market Companies

Global Cardiac Surgery Equipment Market Recent News

  • In August 2022, the acquisition of Affera, Inc. has been completed, according to the announcement from Medtronic plc, a pioneer in healthcare technology worldwide. With this acquisition, the company's offering for cardiac ablation is expanded to include its first-ever cardiac mapping and navigation platform, which combines a radiofrequency ablation solution with a targeted pulsed field and distinct diagnostic technology.
  • In June 2020, the launch of DIRECTSENSE technology was declared by Boston Scientific in the USA It is a tool that is used for monitoring the effect of radiofrequency energy during the process of cardiac ablation.
  • In October 2022, Medtronic plc received United States FDA approval for expanded labeling of a cardiac lead that taps into the heart's natural electrical system, giving patients needed therapy while avoiding complications sometimes associated with traditional pacing methods, such as cardiomyopathy.
  • In October 2022, Biosense Webster, Inc., part of Johnson & Johnson MedTech launched the HELIOSTAR Balloon Ablation Catheter in Europe. The HELIOSTAR Balloon Ablation Catheter is indicated for use in the catheter-based cardiac electrophysiological mapping (stimulating and recording) of the atria and, when used with a compatible multi-channel RF generator, for cardiac ablation.

Global Cardiac Surgery Equipment Market Company Profile

  • Abbott Laboratories*
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Arrive Outdoors
  • Medtronic Plc.
  • Boston Scientific Corporation
  • Lepu Medical Technology Co ltd
  • LivaNova PLC
  • Terumo Corporation
  • Getinge-Maquet Germany Holding GmbH
  • B. Braun Melsungen AG
  • C. R. Bard, Inc
  • Teleflex Incorporated
  • Angiodynamics
  • Edwards Lifesciences Corporation
  • MicroPort Scientific Corporation,
  • Smith Medical
  • Abiomed, Inc
  • Estech
  • Cook Medical Inc
  • Braile Biomedica
  • Biotronik Inc.

“*” marked represents similar segmentation in other categories in the respective section.

FAQs

Cardiac Surgery Equipment Market was valued at US$ 17.75 billion in 2024 and is projected to grow at a CAGR of 6.7%to reach US$ 31.93 billion by 2034.

The Cardiac Surgery Equipment Market is segmented into Type, Application, Distribution Channel, and Region.

Factors driving the market include the growing need of heart patients, expansion of the healthcare industry and growing technological advancements.

Restraints of the Cardiac Surgery Equipment Market include high implementation cost& and less accessible in many remote areas.

The Cardiac Surgery Equipment Market is segmented by region into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America is expected to dominate the Market.

The key players operating the Cardiac Surgery Equipment Market Abbott Laboratories, Medtronic Plc., Boston Scientific Corporation, Lepu Medical Technology Co ltd, LivaNova PLC, Terumo Corporation, Getinge-Maquet Germany Holding GmbH, B. Braun Melsungen AG, C. R. Bard, Inc, Teleflex Incorporated, Angiodynamics, Edwards Lifesciences Corporation, MicroPort Scientific Corporation, Smith Medical, Abiomed Inc, Estech, Cook Medical Inc, Braile Biomedica, Biotronik Inc.