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).
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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.
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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.
Market Segmentation
Global Minimally Invasive Cardiac Surgery Instruments Market by Product
- Inflation Systems
- Cutter Instruments
- Guiding Devices
- Handheld Instruments
- Stents
- Sutures
- Monitoring and Visualization Equipment
- Robotic-Assisted Surgical Systems
- Others (Implantable Cardioverter Defibrillator and Permanent Pacemaker)
Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Abbott Laboratories, Inc.
- Applied Medical Resources Corp.
- Braun Melsungen AG
- Boston Scientific Corp.
- Cordis Corp.
- Edwards Lifesciences Corp.
- General Electric Co.
- Intuitive Surgical, Inc.
- Johnson & Johnson Services, Inc.
- Koninklijke Philips N.V.
- LivaNova PLC
- Medtronic plc
- Olympus Corp.
- Teleflex, Inc.
- Terumo Corp.
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