Product Description
In 2021, the global cardiac surgery market size is projected to reach over $14.2 billion, with the market for cerebral embolic protection devices showing the fastest growth in value. In spite of COVID19, the global market size is expected to increase over the forecast period and exceed $20.4 billion by 2027. Currently, the majority of the global market share is controlled by three main companies – Edwards Lifesciences, Medtronic, and Abbott.
One major trend in the global market for cardiac surgery devices is the shift towards minimally invasive procedures that improve patient health outcomes and reduces procedure complexity. Such procedures include transcatheter aortic valve implantation (TAVI) and transcatheter mitral valve repair (TMVR). Both market segments are set to grow substantially, with new competitors entering the markets with new products to capture the growing demand.
Market growth will be driven by the increased demand from a larger patient population. The aging population and expanded access to healthcare in emerging markets are analyzed among other key market drivers throughout the analysis.
HOW IS COVID19 IMPACTING THE CARDIAC SURGERY MARKET?
In 2020, the global market for cardiac surgery devices declined by over 11% when compared to 2019 as a result of the COVID-19 pandemic. However, the global market is expected to recover rapidly and exceed the pre-COVID levels by the end of 2021.
The cardiac surgery market was negatively impacted by COVID-19, as the many surgical procedures were deferred. For example, Transcatheter aortic valve replacement cases have been deferred if patients are asymptomatic, even in cases of critical aortic stenosis. Overall, the effects of the pandemic on the cardiac surgery and heart valve device market are expected to vary by market segment.
HOW MANY TAVI PROCEDURES ARE PERFORMED GLOBALLY?
Globally, there are over 190,000 transcatheter aortic valve implantation (TAVI) procedures performed every year, with North America and Western Europe having the highest demand.
Over the forecast period we expect an increase in procedural volume powered by the large population of patients who would benefit from TAVI, improved diagnostic capabilities, advancements in transcatheter aortic valve technology and the expanding indication for use of TAVI. The full report contains detailed analysis on procedure numbers for the additional market segments analyzed.
MARKET SEGMENTATION SUMMARY
While this global report suite contains all global cardiac surgery devices market data, each of the market segments is also available as a stand-alone report, MedCore.
- Tissue Heart Valve Market | Global | 2021-2027 | MedCore – The market analysis is further broken down into segments by:
- Device Type: Stented, Stentless, Sutureless/Rapid Deployment.
- Mechanical Heart Valve Market | Global | 2021-2027 | MedCore – The research includes an in-depth analysis of the global Mechanical Heart Valve Market;
- Annuloplasty Repair Device Market | Global | 2021-2027 | MedCore – The research includes an in-depth analysis of the global Annuloplasty Repair Device market;
- Transcatheter Mitral Valve Repair Market | Global | 2021-2027 | MedCore – The research includes an in-depth analysis of the global Transcatheter Mitral Valve Repair market;
- Transcatheter Aortic Valve Implantation Market | Global | 2021-2027 | MedCore – The research includes an in-depth analysis of the global Transcatheter Aortic Valve Implantation market;
- On-Pump Coronary Artery Bypass Device Market | Global | 2021-2027 | MedCore – The market analysis is further broken down into segments by:
- Device Type: ONCAB Disposables, Perfusion System.
- Off-Pump Coronary Artery Bypass Device Market | Global | 2021-2027 | MedCore – The market analysis is further broken down into segments by:
- Device Type: Stabilizer Device, Positioner Device.
- Autotransfusion Device Market | Global | 2021-2027 | MedCore – The market analysis is further broken down into segments by:
- Device Type: Autotransfusion Machine, Autotransfusion Disposables.
- Endoscopic Vessel Harvesting Device Market | Global | 2021-2027 | MedCore – The research includes an in-depth analysis of the global Endoscopic Vessel Harvesting Device Market;
- Anastomosis Assist Device Market | Global | 2021-2027 | MedCore – The research includes an in-depth analysis of the global Anastomosis Assist Device Market;
- Ventricular Assist Device Market | Global | 2021-2027 | MedCore – The market analysis is further broken down into segments by:
- Device Type: Percutaneous VAD (pVAD), Implantable VAD;
- Intra-Aortic Balloon Pump Device Market | Global | 2021-2027 | MedCore – The market analysis is further broken down into segments by:
- Device Type: IABP Catheter, IABP Console;
- Patent Foramen Ovale Closure Device Market | Global | 2021-2027 | MedCore – The research includes an in-depth analysis of the global Patent Foramen Ovale Closure Device Market;
- Atrial & Ventricular Septal Defect Closure Device Market | Global | 2021-2027 | MedCore – The market analysis is further broken down into segments by:
- Device Type: Atrial Septal Defect Closure Device, Ventricular Septal Defect Closure Device;
- Left Atrial Appendage Closure Device Market | Global | 2021-2027 | MedCore – The market analysis is further broken down into segments by:
- Device Type: Endocardial Device, Epicardial Device
- Pre-shaped Guidewire Market | Global | 2021-2027 | MedCore – The research includes an in-depth analysis of the global Pre-shaped Guidewire Market;
- Cerebral Embolic Protection Device Market | Global | 2021-2027 | MedCore – The research includes an in-depth analysis of the global Cerebral Embolic Protection Device Market;
WHO ARE THE TOP CARDIAC SURGERY COMPANIES?
The leaders in the cardiac surgery market are respectively Edwards Lifesciences, Medtronic, and Abbott. Together, they combine to make up a majority of the global market. The majority of Edwards Lifesciences’ market share comes from their strong presence in the tissue heart valves, annuloplasty repair devices, transcatheter mitral valve repair device and transcatheter aortic valve implantation devices.
GLOBAL RESEARCH SCOPE
Report Attribute | Details |
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Regions | North America (Canada, United States) Latin America (Argentina, Brazil, Chile, Colombia, Mexico, Peru, Venezuela) Western Europe (Austria, Benelux, France, Germany, Italy, Portugal, Scandinavia, Spain, Switzerland, U.K.) Central & Eastern Europe (Baltic States, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Kazakhstan, Poland, Romania, Russia, Turkey, Ukraine) Middle East (Bahrain, Iran, Israel, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates) Asia Pacific (Australia, Cambodia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam) Africa (Algeria, Egypt, Ghana, Kenya, Libya, Morocco, Nigeria, South Africa, Sudan, Uganda) |
Base Year | 2020 |
Forecast | 2021-2027 |
Historical Data | 2017-2020 |
Quantitative Coverage | Market Size, Market Shares, Market Forecasts, Market Growth Rates, Units Sold, and Average Selling Prices. |
Qualitative Coverage | COVID19 Impact, Market Growth Trends, Market Limiters, Competitive Analysis & SWOT for Top Competitors, Mergers & Acquisitions, Company Profiles, Product Portfolios, FDA Recalls, Disruptive Technologies, Disease Overviews. |
Data Sources | Primary Interviews with Industry Leaders, Government Physician Data, Regulatory Data, Hospital Private Data, Import & Export Data, iData Research Internal Database. |
The Only Medical Device Market Research With: | ||||
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✔ Procedure Volume Data & Trends ✔ Unit Sales Growth Analysis ✔ Average Selling Prices ✔ Competitor Shares by Segment ✔ SKU-Level Research Methods ✔ The Lowest Acquisition Cost | FREE Sample Report |