Cardiovascular Needle Market: Emerging Trends, Highlights and Challenges Forecast 2025
Growing Obesity and Diabetes are Drivers of Cardiovascular Needle market:
According to a new report published by Reports Monitor titled, “THE GLOBAL CARDIOVASCULAR NEEDLE MARKET, GROWTH OPPORTUNITIES AND FORECAST TILL 2025” the global Cardiovascular Needle market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
The growing number of heart patients is boosting the growth of cardiovascular needles. Cardiovascular needles are used in number of cardiovascular surgeries such as open heart surgery, cardiac valve procedures, heart transplant and others. Cardiovascular needles are generally used in various heart and vascular mediations to close the surgical wound.
The major drivers of the rise of Cardiovascular Needle market is increasing prevalence of cardiac related disease especially in geriatric population and unhealthy lifestyle of people which leads to cardiac disorders. Apart from this, diabetic people are prone to cardiac diseases. As per WHO, there are 422 million (2014) people are suffering from diabetes, majority of them have cardiovascular disorder. Additionally, unhealthy habits such as consumption of tobacco products & alcohol and increasing cases of obesity are other factors that fuel the growth of the market.
However, lack of medical professionals, low awareness and use of alternates such as staples are hampering the growth of the market.
Nevertheless, the increasing expenditure on research & development in healthcare sector and growing demand for sophisticated medical tools will help the growth of the market. Furthermore, with increasing population the patient pool of cardiovascular disease is growing. As per the data of WHO, 17.7 million people die each year because of cardiovascular disease.
The cardiovascular needle market is segmented on the basis of type, application, end user and region.
Based on type the market is segmented into round bodied needles and cutting needles. Furthermore, round-bodied needles segmented into taper point needles and blunt point needles. Cutting needles are further segmented into conventional cutting needles and reverse cutting needles.
On the basis of the application, the market is segmented into open heart surgery, cardiac valve procedures, coronary artery bypass graft surgery, heart transplant, and others.
The end users of market is segmented as hospitals/clinics, ambulatory surgical centers, and others
The global cardiovascular needle market is regionally segmented into North America, Europe, Asia pacific and Latin America, Middle East & Africa.
North America is the market leader of cardiovascular needle owing to their large patient pool and huge investment in research & development in healthcare technology. According to the American Heart Association, in 2017, cardiovascular disease listed as the underlying cause of death which is likely to account for nearly 801,000 deaths in the US by the end of this year. It further estimated that about 2,200 Americans die of cardiovascular disease each day.
Europe holds the second position of the cardiovascular needle market as most of the key players belong to the region also they are exporters of needle to developing countries.
Asia pacific market is the fastest growing market of the forecast period. According to American heart association, 6% of Asians have heart disease and 3.3% of Asians have coronary heart disease (CHD). Additionally the number of people with obesity and diabetes is increasing in Asian countries.
LAMEA region has the slowest growth in forecast period but the market is expected to have swift growth in near future. Arab countries occupy the largest market share of the region.
Dickinson and Company (US), B. Braun Melsungen AG (Germany), Sheffield Ltd. (UK), CP Medical, Inc. (the US), Ethicon Inc. (US), KLS Martin Group (US), Teleflex Incorporated (US), Medline Industries, Inc. (US), Surgins surgical Ltd. (UK), Surtax Instruments Ltd. (UK), Cardivon Surgical Inc. (China), Symmetry Surgical Inc. (US), Delacroix-Chevalier (France), Wexler Surgical (US), Quality Needles Pvt. Ltd. (India), FSSB surgical needles GmbH (Germany) are some of the key players of the market.
We at Garner Insights.com provide a comprehensive analysis by providing in-depth reports of the various market verticals. Our Mission is to provide a detailed analysis of the vast markets worldwide backed by rich data. Decision makers can now rely on our well-defined data gathering methods to get the correct and accurate market forecasting along with detailed analysis.