iData’s analysts work extensively to retrieve data and source both syndicated and custom market research reports. Owing to their in-depth understanding of the markets and first-hand experience with the appropriate data, our analysts have curated a detailed analysis on the market drivers of the Cardiac Surgery Market. With this top-down insight of our global report, we hope to assist our clients in making better strategic decisions for themselves and their customers coming into 2022.
Global Cardiac Surgery Market Trends
- Increased Demand from a Growing Global Population
- Overall Interest in Minimally Invasive Procedures
- Technological Innovations in the Transcatheter Mitral Valve Repair Market
- New Developments in Ventricular Assist Devices (VAD)
Increased Demand From The Global Population:
Although a majority of market trends are based on the increased global population, the cardiac surgery market’s foundation for growth is built on the increased demand for cardiac surgery procedures from a larger population. The notable trends within this development are the rapid growth rates of the aging population (those who often require cardiac surgery & their devices) as well as the expanded access to healthcare in emerging markets.
The Shift Towards Minimally Invasive Cardiac Surgery Procedures
A notable trend in the global market for cardiac surgery devices is the shift towards minimally invasive procedures. These procedures improve overall patient health outcomes and further reduce procedure complexities. With an increased demand for minimally invasive procedures, we are bound to see market growth through new competitors entering the market with new technologies to capture the growing demand.
Technological Innovations in the Transcatheter Mitral Valve Repair Market
The transcatheter mitral valve repair (TMVR) market will see significant gains from 2021-2028, as there is a large demand for the process among the growing patient population for mitral valve repair. The reason for their exceeding interest is due to the ability to treat patients needing to replace their mitral valve in the heart without the need for conventional open-heart surgical procedures.
New Developments in Ventricular Assist Devices (VAD)
The overall demand for ventricular assist devices (VADs) will increase the market value similarly to the TMVR market. Due to the growing global patient population suffering from heart failure, and the lack of available donor hearts for transplant, a greater number of VADs will be required. The Ventricular Assist Device pulls blood from the heart and pumps it into the aorta, sending blood to the rest of your body. Most of the blood a patient’s heart would normally pump is pumped by the device instead.
MARKET RECAP AND FURTHER INSIGHTS
Although COVID-19 caused the global cardiac surgery market to decline by over 11% in 2020, the global market is expected to rapidly recover by 2022. Overall, with these market drivers considered & more, the global market for cardiac surgery is projected to exceed $20.4 billion by 2027. Companies holding leading shares within each segment are projected to improve their market shares through an ongoing network of technological innovation and demand for surgeries. For more information on the global cardiac surgery market, including unit sales, average selling prices, market drivers and limiters, competitive market share analysis, and more, follow this link to receive a free research summary of this report. In addition, we offer our complete Global Cardiac Surgery report series which includes the analysis of the cardiac surgery market in 70 countries and 7 regions.