(PharmaNewsWire.Com, August 13, 2019 ) The growth of the market is mainly driven by factors such as growing prevalence of cardiac conditions and subsequent increase in the number of surgical procedures, rising geriatric population, and growing investments, funds, and grants by government bodies worldwide. However, adoption of alternative surgical methods and lack of Medicare payments are the major factors that may restrain the growth of this market.
The overall cardiac surgery instruments market is expected to reach USD 1.63 Billion by 2022 from USD 1.16 Billion in 2017 at a CAGR of 7.1%.
Market Dynamics
+ Drivers + Growing Prevalence of Cardiac Conditions and Subsequent Increase in the Number of Surgical Procedures + Rising Geriatric Population + Growing Investments, Funds, and Grants By Government Bodies
North America dominated the global cardiac surgery instruments market in 2017, with the U.S. accounting for a major share of this regional market. Factors such as high incidence of cardiac diseases, rising awareness programs and increased funding for research projects are likely to drive the growth of the North American market.
Followed by North America, Europe dominated the global market in 2017. The European market is mainly driven by increasing adoption of surgical procedures in cardiology, growth in European healthcare sector, and awareness programs. However, the Asian market is slated to grow at the highest CAGR owing to the increasing government and private sector investments in healthcare, growing purchasing power and high incidence of cardiac diseases. Some prominent markets in Asia include China, India, and Japan.
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