Global Cardiovascular Needle Market Overview
As a part of various heart and vascular mediations to close a surgical wound, cardiovascular needles are used. Various surgeries such as cardiovascular surgeries, open heart surgery, cardiac valve procedures, heart transplant, coronary artery bypass graft surgery, and many more surgeries need cardiovascular needles. Rising number of patients suffering from cardiovascular disease, obesity, diabetes and increasing aging population is driving the cardiovascular needles market.
According to survey conducted by Johnson and Johnson Pvt. Ltd. in 2014, about 2.5 Million cardiovascular surgeries take place in U.S. every year, 16% of these procedures are CABG (Coronary Artery Bypass Graft) and 5% include cardiac valve repair surgeries. According to the World Health Organization (WHO), in 2015, around 17.7 million people died from cardiovascular diseases, which represent 31% of all global deaths. Of these deaths, around 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. According to the WHO in 2015, around 1.6 million deaths were directly caused by diabetes and in 2014, 8.5% of adults aged 18 years and older had diabetes. Thus, rising occurrence of chronic diseases is mainly propelling the global cardiovascular needles market.
Market Size & Forecast
Cardiovascular Needle Market is anticipated to record a significant CAGR over the forecast period i.e. 2018-2027. Many multi-national companies are concentrating towards new product advances in cardiovascular needle market. Moreover, factors such as unhealthy diet, low physical activities in the present generation is anticipated to increase incidences of cardiovascular disorders which in turn will propel the cardiovascular needles market across the globe.The global market for cardiovascular needles is anticipated to sprout owing to replacement with surgical needles use of traditional procedures. The single use or disposable needles segment market share is predicted to increase owing to rising number of outpatient procedures and increasing awareness of infectious diseases. Hospital segment is estimated to grasp a larger share due to escalating number of recurrent cardiovascular interventions.
On the basis of regional platform, global cardiovascular needle market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.Due to swelling geriatric population and added life expectancy, North America will continue to dominate the cardiovascular needle market over the forecast period i.e. 2018-2027. The market volume of global cardiovascular needle market is expected to boost with new technology of laser drilled cardiovascular needles.The Asia Pacific region is the fastest growing cardiovascular needle market owing to the elevated existence of patients with cardiovascular diseases. Furthermore, the government outlook of this region to better the quality of needles is additionally expected to increase the demand for cardiovascular needle market in this region.
Our-in depth analysis of the global Cardiovascular Needle Market includes the following segments:
By End-User Industries
Global Cardiovascular Needle Market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Increasing incidence of cardiovascular disorders and escalating geriatric demographics are the key propellants for global cardiovascular needle market growth. Besides this, increasing co-morbidities, changing lifestyle, excessive use of tobacco, diabetes and incidence of obesity are some other factors predicted to stimulate the global cardiovascular needle market growth. Moreover, advancing technology in the medical devices is adding fuel to the growth of the market for instance; new technology of laser drilled cardiovascular needle is expected to boost the market volume of global cardiovascular needle market across the globe. Furthermore, increasing government support in the developing countries is further propelling the cardiovascular needles market.However, increasing use of surgical staples in place of needles and suture can behave as restraining factor affecting the demand for cardiovascular needles.
Scope & Context
Overview of the Parent Market
The Global Cardiovascular Needle Market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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