The global cardiac surgery devices market is estimated to be worth USD 1.8 billion in 2024 and is projected to grow at a CAGR of 3.7%, reaching USD 2.5 billion by 2034.
| Attributes | Description |
|---|---|
| Estimated Global Cardiac Surgery Devices Market Size (2024E) | USD 1.8 billion |
| Projected Global Cardiac Surgery Devices Market Value (2034F) | USD 2.5 billion |
| Value-based CAGR (2024 to 2034) | 3.7% |
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
The healthcare sector has undergone significant transformation in recent years. . Advancements in technology have transformed how patients and medical professionals approach cardiac surgeries. Mentioned below are such trends, according to the latest sector analysis, and the way they are affecting the market.
Minimally Invasive Surgeries
The general populace, especially the elderly, is preferring minimally invasive surgeries such as transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR) due to their lower risks, reduced recovery times, suitability. These techniques are replacing the conventional ones, prompting players in the market to upgrade their devices.
Robotic-Assisted Surgeries
Surgeons are increasingly using robotic arms and surgical systems, which enhance precision and reduce complications. These devices enhance precision while also reducing complications. While this segment is still in its nascent stages, it is very likely to reshape surgical practices in the coming future.
Artificial Intelligence (AI) and Machine Learning
Artificial intelligence has established its role in healthcare. It is now being increasing integrated into diagnostic tools, surgical planning systems, and postoperative care. This has helped surgeons identify complications early which gives them a very crucial head start before they escalate into more serious issues.
Biocompatible and Long-Lasting Devices
There is also an emphasis on curating surgical devices that are bio-compatible. Tissue-engineered heart valves and drug-eluting stents have, thus, being incorporated in these surgeries to reduce rejection and restenosis rates.
Remote Monitoring and Connected Devices
Pacemakers and implantable cardioverter defibrillators (ICDs) are also becoming popular. This is because of their ability to send continuous data transmission and early detection of complications.
Key Trends and Innovations as per the Latest Cardiac Surgery Devices Industry Outlook:
| Patient-Specific and Customized Devices | Personalized medicine and devices curated for individual patients have now entered the marketplace |
|---|---|
| Increasing Demand in Emerging Markets | Demand in emerging markets with high population density due to rise in number of people with CVDs |
| Data Analytics in Surgical Procedures | This helps surgeons as they get real-time information and also minimizes the risks |
| Sustainable and Eco-Friendly Devices | Players are curating eco-friendly devices to cater to the demands of eco-conscious consumers and businesses |
Rising Prevalence of CVDs in Major Economies
Cardiovascular diseases (CVDs) are a pressing concern globally. In the USA, nearly 48% of adults are affected, driving significant demand for advanced cardiac surgery devices.
In Germany too, 37% of fatalities happen due to these diseases. In Asia, India sees around 54.5 million cases every year. These figures, according to the latest industry outlook, are indicative of the fact that there is an excellent need for cardiac surgery devices in these countries.
Both, public as well as private healthcare facilities generate demand for these devices. While private entities acquire them to upgrade their services, in developing and underdeveloped economies, government invests in these devices to medically include the major chunk of economically deprived populations.
Rising Risk Factors Driving Market Growth
Obesity rates, all over the world, are also a prime reason for cardiac surgeries. This has created a plethora of opportunities for players in the market.
| Countries | Adult Obesity Rate (%) |
|---|---|
| United States | 42.7% |
| China | 7.4% |
| India | 4.6% |
| Japan | 4.9% |
| South Korea | 5.1% |
Studies by European Heart Journal have revealed that individuals with obesity are nearly three times more likely to develop type 2 diabetes. This increased risk leads to a higher demand for cardiac interventions and devices.
Hypertension also affects approximately 45% of the adult USA population and is a major contributing risk factor for serious cardiovascular events such as heart failure, myocardial infarction, and stroke. This has prompted players in the market to curate more advanced devices to manage these conditions effectively.
| Countries | Adult Hypertension Prevalence (%) |
|---|---|
| United States | 47.7% |
| China | 27.9% |
| India | 25.3% |
| Japan | 43.0% |
| South Korea | 28.0% |
Apart from this, sedentary lifestyle and CVDs due to this is also a major driver contributing to market growth. Health providers, thus, are expected to see increased opportunities for innovation and expansion in this critical market.
High Costs of Devices and Procedures
Cardiac devices, in the absence of proper government support, may seem very expensive for smaller clinics and healthcare facilities. High costs, including maintenance and procedure expenses, make cardiac devices inaccessible to many patients in low- and middle-income countries.In the long-term, this affects the market negatively by slowing down the adoption of these devices. This trend is generally observed in countries with poor medicare infrastructure.
To tackle this, companies can collaborate with government bodies so that they can either create devices at affordable prices or provide subsidies and grants to small and medium end-users.
Shortage of Skilled Healthcare Professionals
Using these devices requires a certain level of medical expertise which is very difficult to find. This issue is generally observed in low-income countries, especially in regions with poor healthcare infrastructure.
In the long term, low pay may force the organization to reduce staffing levels or compromise on training, ultimately leading to poorer patient outcomes and increased risk of complications. To tackle this, players must invest in training programs and global knowledge-sharing initiatives. They can also make more user-friendly technologies like robotic assistance to solve this issue.
Regulatory Hurdles and Approval Processes
Strict regulations in some countries might delay the entry of certain new devices in the market. This affects market players as they have to wait for approvals, which often involves high costs and time.
In the long term, this restricts the ability of companies to innovate and bring new technologies to market swiftly. Market players must invest in strategic compliance teams and robust regulatory affairs departments to navigate the complex approval processes efficiently.
There are four major devices in this market: heart-lung machine, breathing heart surgery systems, catheters, and perfusion disposables. Among these, perfusion disposables hold a majority share. This is because:
By procedure, the market is bifurcated into coronary artery bypass grafting and minimally invasive surgery. As per FMI’s cardiac surgery devices industry analysis, the latter dominates the market as it offers several advantages, including reduced recovery times, lower risk of complications, and less postoperative pain for patients.
End-users generally include hospitals and ambulatory surgical centres. Hospitals are the largest consumers because they cater to a broader patient population requiring various cardiac procedures.
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
The following section talks about the region-wise analysis of the cardiac surgery devices market with a focus on prominent countries.
| Countries | Market Share(%) |
|---|---|
| India | 3% |
| Germany | 4.7% |
| The United States | 4.2% |
| Japan | 2.1% |
| South Korea | 2.2% |
The United States is home to one of the largest populations of people with cardiovascular diseases. According to a stat from CDC, one person dies every 33 seconds from cardiovascular disease. This number indicates the need for cardiac surgery devices as they are crucial for timely intervention and treatment. It also drives significant demand for minimally invasive options that can enhance recovery times and reduce complications.
Besides this, there is also an observed dominance of robotic-assisted surgeries due to the presence of industry giants and advanced healthcare infrastructure.
Some of the most prominent companies in the United States are Medtronic, Boston Scientific, Abbott Industries, Intuitive Surgical, Edwards Lifesciences, etc.
Germany has always been a developed country when it comes to medical technology. Thanks to the regulatory support, it has become a pioneer in robotic-assisted surgeries. Hospitals and other healthcare facilities in the country are heavily investing in cutting-edge systems to enhance surgical precision.
These players are also curating biocompatible and long-lasting devices to cater to patient safety and reduce complications. This has further instilled a sense of trust about these procedures in the general populace. Besides this, sector outlook also highlights a high adoption of patient-specific devices and 3D-printed implants for personalized cardiac care.
Siemens Healthineers, KUKA Robotics, Carl Zeiss Meditec, Medtronic, Stryker, and Edwards Lifesciences are key players in the market in Germany.
India attracts millions of patients annually for advanced and affordable cardiac surgery. This is because the country not only offers these services at significantly lower costs compared to developed nations but also because it has one of the most advanced healthcare infrastructures in Asia. To handle such a high influx of international patients, Indian healthcare facilities are continuously upgrading their capabilities associated with cardiac diseases.
While there is no single company dominating the scene in India, multiple companies such as Medtronic, Boston Scientific, Abbott Laboratories, Edwards Lifesciences, and Stryker are considered leaders in the cardiac surgery devices market.
Japan is currently dealing with a problem of growing aging population. More than one in ten people in the country are now above 65 years old. This has created conducive environment for players in the cardiac surgery device market as the said demographic is very susceptible to CVDs.
Besides this, robust healthcare system and Japan’s dominance in robotics and AI integration has made Japan one of the most lucrative markets for these devices in the world.
Several companies involved in the Japanese market are Medtronic, Abbott Laboratories, Boston Scientific, Terumo Corporation, etc.
Cardiac surgery devices industry analysis highlights a very competitive market with companies vying for dominance. The sector outlook also suggests innovation and new machines to be the main factor for companies to stand out.
| Category | Details |
|---|---|
| Competitive Landscape | Major players include Abbott Laboratories, Medtronic Plc., and Boston Scientific Corporation. Competition is based on technological advancements, product efficacy, pricing strategies, and a focus on minimally invasive solutions. Emerging players like Lepu Medical Technology Co. Ltd. emphasize affordability. |
| Key Mergers and Acquisitions |
|
| Regulatory Approvals | Companies like Terumo Corporation and Getinge-Maquet Germany focus on compliance with regulations like the EU's Medical Device Regulation (MDR). LivaNova PLC received FDA approval for next-generation heart-lung machines. |
| Product Launches |
|
| Collaborations |
|
Referring to the cardiac surgery devices industry analysis, the market is segmented into heart lung machine, breathing heart surgery systems, catheters, perfusion disposables, etc.
On the basis of procedures, the market is segmented into coronary artery bypass grafting and minimally invasive surgeries.
Sector analysis suggests that the market is segmented into hospitals and ambulatory surgical centers on the basis of end-users.
The market can be segmented by region, encompassing North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
The market is predicted to reach a size of USD 2.5 billion by 2034.
The market is anticipated to be valued at USD 1.8 billion in 2024.
The United Kingdom is set to hold the highest CAGR of 4.9% by 2034.
| Estimated Market Size (2024E) | USD 24.7 billion |
|---|---|
| Projected Market Value (2034F) | USD 36.7 billion |
| Value-based CAGR (2024 to 2034) | 4% |
| Market Value for 2023 | USD 17,612.1 million |
|---|---|
| Market Value for 2033 | USD 22,765.9 million |
| Market CAGR (2023 to 2033) | 2.6% |
| Market Estimated Value (2023) | USD 1.37 billion |
|---|---|
| Market Estimated Value (2033) | USD 2.48 billion |
| Market Value CAGR (2023 to 2033) | 6.1% |
Explore Therapeutic Device Insights
View Reports
Cardiac Surgery Devices Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
