Report Details

Global Minimally Invasive Cardiac Surgery Instruments Market Size, Share, Forecast Report, 2020-2027

The global minimally invasive cardiac surgery instruments market is estimated to grow at a CAGR of around 9.1% during the forecast period. The major factors contributing to the growth of the market include increasing demand for minimally invasive cardiac procedures and technological innovations in minimally invasive cardiac devices. There are several benefits associated with minimally invasive cardiac surgery as smaller incisions are involved in it. Moreover, it includes shorter hospital stays (generally 2-5 days), minimal risk of bleeding and infection, less scarring and pain and shorter recovery time. In addition, the increasing number of cardiac surgeries has reported over the last decade. For instance, according to Pennsylvania Healthcare Cost Containment Council, in Pennsylvania (the US state), the valve procedures were significantly increased with 11.3% from 6,643 to 7,396 during the period (2005 to 2015).

Moreover, according to the annals of thoracic surgery, during the period (January 2013 to December 2014), there were complete in-hospital data which includes 46,303 procedures that are submitted to the database. China is undergoing a significant demand for cardiac surgeries. There are two hospitals have a volume of over 10,000 cases per year, however, over 70% of places have a volume with less than 2000 cases every year which includes congenital cardiac surgeries. This rise in cardiac surgeries is expected to fuel the demand for minimally invasive cardiac surgeries that ultimately leads to propel the adoption of advanced minimally invasive surgical devices such as THVT.

The major players operating the market include Abbott Laboratories, Inc., Edwards Lifesciences Corp., Boston Scientific Corp., Medtronic plc, and Intuitive Surgical, Inc. These companies are involved in the manufacturing of artificial vales, drug-eluting stents, guidewires and balloon devices. Moreover, increasing FDA approvals for their devices has been supporting healthcare providers to offer effective care to the patients. For instance, in March 2018, the FDA approved the Masters HP 15mm rotatable mechanical heart valve (Abbott Laboratories). It is the world's first and only smallest mechanical heart valve that will enable doctors for the treatment of toddlers and babies who require aortic or mitral valve replacement.

Research Methodology

The market study of the global minimally invasive cardiac surgery instruments market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include:

Financial reports of companies involved in the market

Authentic public databases

Whitepapers, research-papers, and news blogs

Company websites and their product catalog

The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. It will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.