CAGR: 5.10%Current Market Size: USD 86 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global cardiovascular needle market is expected to grow from USD 86 billion in 2022 to USD 148.8 billion by 2030, at a CAGR of 7.10% during the Projection period 2023-2030. The growth of the cardiovascular needle market is mainly driven by the rise in cardiovascular surgeries.
Cardiovascular needles have advanced significantly in terms of design, materials, and suturing methods. Biomechanical performance has significantly improved over time. In open heart surgery, heart transplantation, cardiac valve treatments, and coronary artery (CA) bypass graft surgery, there is an increasing need for these devices. In order to innovate in their product offerings and provide new chances to market participants, manufacturers in the cardiovascular devices market are evaluating numerous suture variables. The size of the suture, the needle and suture coating, the needle curvature, and the geometry of the needle tip are important characteristics. An appropriate needle-to-suture ratio is important for surgeons as well. The development of suture configuration over time has acted as a catalyst for new developments in the cardiovascular needles industry. The market has evolved as a result of the rising demand for therapies involving minimally invasive surgery. The market for cardiovascular needles is primarily driven by the demand for products with greater penetration capabilities to satisfy the needs of cardiac/vascular surgery. Global cardiovascular disease prevalence is a major trend that is fostering growth opportunities for market participants. They have been regarded as the primary cause of health loss, particularly in the elderly, and a vital factor in young adults' moral development around the world. In fact, patients from low- and middle-income nations have been particularly burdened by the high management costs. Patients' pain and a decrease in operating-suite time are the results of the lengthy operating times.
Sample Request: - Global Cardiovascular Needle Market
Market Dynamics:
Drivers:
The World Health Organization states that cardiovascular disease is the biggest cause of death worldwide (WHO). Cardiovascular illnesses are still anticipated to be the main cause of morbidity and mortality worldwide (CVDs). 17.9 million people worldwide are thought to die from cardiovascular diseases (CVDs) each year, according to figures from the WHO. The aging population and increased smoking rates are likely to cause the global market for cardiovascular needles to grow. Due to rapid lifestyle changes, increased comorbidity, high tobacco usage, and high obesity prevalence, it is anticipated that the market would have numerous opportunities to grow throughout the Projection period.
Restraints:
The high management costs have particularly burdened patients from low- and middle-income nations. It can be a barrier to the market's growth for cardiovascular needles. Cardiovascular disease (CVD) patients undoubtedly suffer from the high expenses of cardiac therapy.
Opportunities:
Modern technology was made possible by new materials and designs, which also increased the market potential for cardiovascular needles. In the upcoming years, it is anticipated that more technological developments and the introduction of novel techniques and goods, such as laser drill cardiovascular needles, would increase the efficacy of sutures and spur market expansion. Additionally anticipated to fuel the growth of the worldwide cardiovascular needles market over the Projection period is the rising aging of the population and high smoking rates. Similarly to this, it is anticipated that the market would have plenty of potential to expand throughout the aforementioned Projection period due to quick lifestyle changes, rising comorbidity, high cigarette use, and high obesity incidence.
Challenges:
Hospitals work hard to be effective because operating rooms are expensive to run. Patients experience stress and strain from lengthy operations, which hinders the market's expansion because patients are hesitant to undergo the procedure.
Segmentation Analysis:
The global cardiovascular needle market has been segmented based on type, application, usage, and region.
By Type
The type segment is cutting needles and round bodied needles. The cutting needles segment led the largest share of the cardiovascular needle market with a market share of around 55% in 2022. Cutting needles are fundamentally triangular in shape, with the triangle's apex located at the needle's internal arch. Because the point is often triangular, cutting needles have at least two opposing cutting blades. Cutting needles are made to pierce through tissues that are thick, uneven, and dense.
By Application
The application segment is cardiac valve procedures, open-heart surgery, heart transplant, coronary artery bypass graft surgery, and others. The open-heart surgery segment led the largest share of the cardiovascular needle market with a market share of around 32.3% in 2022. Any procedure in which the chest is opened and the heart's muscles, valves, or arteries are operated on is considered open-heart surgery. The most typical type of adult cardiac surgery is coronary artery bypass grafting (CABG), according to the National Heart, Lung, and Blood Institute (NHLBI)Trusted Source. A healthy artery or vein is grafted (connected) to a blocked coronary artery during this procedure. This enables the grafted artery to "bypass" the obstructed artery and supply the heart with new blood. Traditional heart surgery is another name for open-heart surgery. Many modern heart treatments can now be carried out using only tiny incisions rather than large ones. Therefore, it may be deceptive to refer to open heart surgery as such.
By Usage
The usage segment is multiple use and single use. The single use segment led the largest share of the cardiovascular needle market with a market share of around 58.3% in 2022. The single-use syringe, which is favoured by medical experts everywhere, is mostly employed for giving shots and medications. This kind of syringe stops the spread of blood-borne infections, as contrast to the conventional reusable syringe, which would be cleaned and reused. An easy piston-pump system powers the single-use syringe.
Global Cardiovascular Needle Market - Sales Analysis.
The sale of the cardiovascular needle market expanded at a CAGR of 5% from 2016 to 2022.
Cardiovascular diseases (CVDs) are disorders of the heart and blood vessels, and include ailments like cerebrovascular disease, coronary heart disease, rheumatic heart disease, and others. Smoking, a poor diet, and a lack of physical activity are a few of the key lifestyle factors that cause CVDs and increase the risk of heart attacks and strokes. Additional risk factors for these diseases include diabetes, high cholesterol, and hypertension. Cardiovascular needles are required during open heart surgery, cardiac valve surgeries, heart transplant procedures, coronary artery bypass graft treatments, and other procedures. These needles are available in various forms, including single-use, eyeless, and multiple-use. These needles are produced using Surgalloy and Ethalloy, two novel stainless steel alloys with significant nickel content.
The World Health Organization (WHO) estimates that 17.7 million deaths worldwide from cardiovascular illnesses occurred in 2015, accounting for 31% of all fatalities. About 7.4 million of these fatalities were caused by coronary heart disease, and 6.7 million by stroke. The World Health Organization (WHO) estimates that 8.5% of persons aged 18 and older had diabetes in 2014, and that diabetes directly contributed to around 1.6 million deaths in 2015. Therefore, the global cardiovascular market is primarily being driven by the increased prevalence of chronic disorders. The global market is expanding as a result of a number of causes, including bad eating habits and insufficient physical activity.
Thus, owing to the aforementioned factors, the global cardiovascular needle market is expected to grow at a CAGR of 7.10% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the cardiovascular needle market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North American region dominated the cardiovascular needle market and held a 37.6% share of the market revenue in 2022.
Global Cardiovascular Needle Market - Country Analysis:
Germany's cardiovascular needle market size was valued at USD 0.132 billion in 2022 and is expected to reach USD 0.244 billion by 2030, at a CAGR of 8% from 2023 to 2030. Germany continues to hold the second position in the worldwide market due to the presence of significant players.
China’s cardiovascular needle market size was valued at USD 0.139 billion in 2022 and is expected to reach USD 0.26 billion by 2030, at a CAGR of 8.3% from 2023 to 2030. Players in these regional marketplaces have achieved significant improvements to the physical properties of suture material and suture procedures.
India's cardiovascular needle market size was valued at USD 0.107 billion in 2022 and is expected to reach USD 0.201 billion by 2030, at a CAGR of 8.2% from 2023 to 2030. The possibilities of the India cardiovascular needle market are being boosted by the demand for surgical operations that aid in lowering morbidity and mortality caused by the prevalence of cardiovascular disease.
Key Industry Players Analysis:
To increase their market position in the global cardiovascular needle market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
7.10% |
Market Size |
86 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Type, By Application, By Usage, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
BD (US), CP Medical, Inc. (U.S.), Sklar Surgical Instruments (US), B. Braun Melsungen AG (Germany), Surgins surgical Ltd. (UK), Ethicon Inc. (US), KLS Martin Group (US), Scanlan International Inc. (US), Rumex International Corporation Ltd. (UK), Teleflex Incorporated (US), Medline Industries, Inc. (US), Delacroix-Chevalier (France), Surtex Instruments Ltd. (UK), and Symmetry Surgical Inc. (US). |
By Type |
|
By Application |
|
By Usage |
|
Regional scope |
|
Scope of the Report
Global Cardiovascular Needle Market By Type:
Global Cardiovascular Needle Market By Application:
Global Cardiovascular Needle Market By Usage:
Global Cardiovascular Needle Market By Region:
Global cardiovascular needle market is expected to reach USD 148.8 billion by 2030.
The cardiovascular needle market is projected to have a CAGR of 7.10%.
Leading market players active in the global cardiovascular needle market are Barber of Sheffield Ltd., CP Medical, Inc., Ethicon US, LLC, MANI, Inc., FSSB surgical needles GmbH SMB Corporation, Quality Needles Pvt. Ltd., etc. among other
The World Health Organization states that cardiovascular disease is the biggest cause of death worldwide (WHO). Cardiovascular illnesses are still anticipated to be the main cause of morbidity and mortality worldwide (CVDs). 17.9 million people worldwide are thought to die from cardiovascular diseases (CVDs) each year, according to figures from the WHO.
Based on the application, the global cardiovascular needle market has been segmented into cardiac valve procedures, open-heart surgery, heart transplant, coronary artery bypass graft surgery, and others.
Political Factors- Bureaucracy and corruption have a negative impact on the business climate. cardiovascular needle market operations are becoming increasingly unclear in nations with high levels of corruption and inadequate law enforcement due to eroded public trust in commercial organisations and the overall political and economic structure. Corruption has the potential to disrupt a wide range of company activities, including licencing, contracting, fraud agreements, and countless litigation. The organization's long-term development will be jeopardised if the cardiovascular needle market decides to enter markets with corrupt economic and political systems, as this will damage society, the justice system, and the rule of law.
Economic Factors- Economic development has a direct impact on organisational performance. Growing economies offer several opportunities for growth in the cardiovascular needle market. Similarly, understanding the stage of the industrial lifecycle is crucial. Entering mature sectors may be more difficult than entering enterprises in the growth stage due to market saturation. Furthermore, the amount of money invested in crucial infrastructure development by the host country's government has an impact on the financial success of the cardiovascular needle market. A well-developed infrastructure facilitates business, which also increases the potential expansion of the gold sector in the individual country.
Social Factors- Demographic shifts such as population ageing, migration trends, and socioeconomic considerations are critical for global marketplaces such as the cardiovascular needle industry. Analyzing demographic features might help the cardiovascular needle market identify the market segment or sector with the greatest potential for growth. Migration affects both company and marketing strategy. Understanding the general public's attitude about migration is critical for the cardiovascular needle industry since it may affect enterprises' capacity to hire foreign management in the host country.
Technological Factors-To stay ahead of the competition, the cardiovascular needle products industry must closely monitor continuing technological breakthroughs. The potential for 5G to improve business outcomes by improving user experience, speed, and access should be continuously examined. Such technology developments have the potential to profoundly transform an industry and rewrite the rules of success for market actors. Furthermore, the stage of development and maturity of the technology in the relevant industry must be considered. The cardiovascular needle products market can increase its market share by focusing on emerging technical improvements and entering markets where technological development has not yet matured.
Environmental Factors- Because of escalating environmental deterioration and technological progress, businesses have been pushed to employ cutting-edge recycling and waste management techniques. Recycling has practically become a business standard in numerous countries. Furthermore, the cardiovascular needle products market must implement effective waste management methods in organisational divisions located in or near urban areas. Many countries have enacted rigorous regulations to protect their urban areas through effective waste management. Some countries offer financial incentives to encourage the use of renewable energy sources. cardiovascular needle market can profit from it and invest in renewable technology to maintain long-term viability. This investment will result in increased stakeholder satisfaction and a larger consumer base due to improved brand perception.
Legal Factors- Because several countries have strict labour laws, the cardiovascular needle market must follow the laws controlling employee/labor health and safety. The cardiovascular needle market has an ethical and moral obligation to provide a safe working environment for its employees. Similarly, anti-discrimination regulations (such as equal employment opportunity laws) must be carefully considered when designing human resource practises, as discriminating litigation against employers undermine the organization's reputation and impair its ability to attract and retain talent.
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