Cardiovascular Needle Market Business Insights & Deep Analysis to 2023
The global cardiovascular needle market, as Market Research Future (MRFR) suggests, can attain 7.2% CAGR over the review period (2017-2023). Several treatments require cardiovascular needles such as open-heart surgery, cardiac valve procedures, coronary artery bypass graft surgery, heart transplant, and others. The need for such needles is on the rise as cases related to cardiovascular diseases are rising. This is due to a change in the lifestyle where urbanization has led to irregular consumption habit, sedentary lifestyle, low physical activity, and several other adverse features that can negatively impact the heart. At the same time, the increasing aged population is also leading to the adoption of such treatments. In addition, habits such as smoking and consumption of liquor often lead to problems that can trigger health-issues and requirement of cardiovascular surgeries. With advanced technologies, the cardiovascular needles market is set to expand more in the coming years.
On the flip side, the cardiovascular needles market may witness a dip in the sale due to the growing use of surgical staples. However, cardiovascular needles have some specific utility where it can thrive more and reach the expected market valuation in the coming years.
MRFR’s report on the global cardiovascular needle market is segmented by types, application, by usage, and by the end user.
Based on the type, the cardiovascular needle market comprises round bodied needles and cutting needles. The round-bodied needles segment consists taper point needles and blunt point needles. The cutting needles segment consists conventional cutting needles and reverses cutting needles.
Based on the application, the cardiovascular needle market consists cardiac valve procedures, coronary artery bypass graft surgery, heart transplant, open heart surgery, and others.
Based on the usage, the cardiovascular needle market comprises single use and multiple uses.
Based on the end-user, the cardiovascular needle market can be segmented into hospitals, clinics, ambulatory surgical centers, and others.
MRFR in their research on the cardiovascular needle market founded on four regions, namely the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The report also digs deep to provide a volume-wise and value-wise segmentation of the market.
Several prevalent diseases such as diabetes, obesity, cardiovascular irregularity, and others are present in the region in substantial number due to which the market of America has grown substantially strong. The regional market is getting amply backed by the superior infrastructure of the healthcare and high investment capacity of the region for research and development. Amply backed by the government and private funds, the region is expected to secure its premier position for the coming years as well.
Europe ranks second in the global cardiovascular needle market due to the presence of several market titans. However, these companies are also involved in exporting their product to developing countries through which they are earning much revenue.
APAC’s growth would be the fastest as predicted in the report. It can be attributed to the presence of a large number of people in the region who are suffering from cardiovascular diseases. The revamping of the healthcare sector in these developing economies requires better quality instruments owing to which the market is bound to grow during the forecast period.
However, the MEA market contributes the least due to low expenditure in research and development activities and inferior healthcare infrastructure.
Players influencing the market are B. Braun Melsungen AG (Germany), CP Medical, Inc. (U.S.), Becton, Dickinson, and Company (U.S.), Ethicon Inc. (U.S.), Sheffield Ltd. (U.K.), KLS Martin Group (U.S.), Scanlan International Inc. (U.S.), Teleflex Incorporated (U.S.), Rumex International Corporation Ltd. (U.S.), Sklar Surgical Instruments (U.S.), Surgins surgical Ltd. (U.K.), Surtex Instruments Ltd. (U.K.), Medline Industries, Inc. (U.S.), Quality Needles Pvt. Ltd. (India), Delacroix-Chevalier (France), Wexler Surgical (U.S.), Symmetry Surgical Inc. (U.S.), Cardivon Surgical Inc. (China), FSSB Surgical Needles GmbH (Germany), and others.