The cardiac surgery instruments market is expected to reach USD 1.63 billion by 2022 from USD 1.16 billion in 2017, at a CAGR of 7.1 percent, predicts Research and Markets. The market is mainly driven by factors such as high incidence of cardiac diseases, growing prevalence of cardiac conditions, and the subsequent increase in the number of surgical procedures, rising geriatric population, and growing investments, funds, and grants by government bodies worldwide.
Coronary artery bypass graft forms the largest and the fastest-growing application segment of the global market. This is mainly attributed to the high incidence of cardiac diseases and the resulting increase in the number of surgical procedures. Heart valve surgery forms the second largest segment.
The hospitals and cardiac centers segment is expected to dominate the end-user market for cardiac surgery instruments. Growth in this segment can be attributed to the increasing incidence of cardiac and heart valve diseases and the subsequent increase in the number of cardiac surgery procedures.
The global market is dominated by North America, followed by Europe. The market in Asia is expected to grow at the highest CAGR over the
5 years. Factors such as increasing awareness programs, high incidence of cardiac diseases, rising number of hospitals, increased cardiac research funding, and improvements in the healthcare sector of Asian countries contribute to the growth of the market in that region.