Cardiac Surgery Devices Market size is expected to increase to USD 2.27 Billion by 2023, globally.

Overview:

In the year 2018, Global Cardiac Surgery Devices Market was valued at USD 1.94 Billion. By the year 2023, it is expected to reach USD 2.27 Billion at pace of 3.15% CAGR.

Cardiac surgery is performed by cardiac surgeons because of cardiac or cardiac complications such as congenital heart disease, valvular heart disease, and ischemic heart disease. Cardiovascular surgical devices are used in patients suffering from cardiovascular disorders. The two different types of cardiac surgery are endoscopic surgery and open heart surgery.

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Underlying Causes

The growth for Cardiac Surgery Devices market is driven due to factors like increasing incidences of cardiac disorders across the globe, rising demand for minimally invasive procedures, growing geriatric and obese population globally, increasing healthcare expenditure, rising awareness about various cardiovascular treatments in the developing countries. In addition, advancement of technologies in healthcare services, introduction of advanced devices, and improving healthcare infrastructure is expected to boost the market growth. However, lack of skilled professional and high cost associated to adopt cardiac surgery devices are expected hinder growth rate for Global Cardiac Surgery Devices Market during the forecast period.

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Geographic Segmentation:

Based on geography the Cardiac Surgery Devices market has been primarily divided into Asia Pacific, Middle East and Africa, North America and Latin America. North America holds the largest market share in the Global Cardiac Surgery Devices market followed by Europe. Asia-Pacific region like India and China are rapidly growing due to rising geriatric and obese population, increasing incidences of cardiac disorders, improving healthcare facilities, advancement of technologies, and rising demand for minimally invasive procedures are expected to contribute high growth rate for Cardiac Surgery Devices market during the forecast period.

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Key Players:

Leading companies for Global Cardiac Surgery Devices market are Abiomed, Inc., Cardinal Health, C. R. Bard, Inc., MedWaves Incorporated, Trinity Biotech, CyberHeart Incorporated and Transmedics, Inc.

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