Increase in the number of cardiovascular disorders drives the global cardiovascular surgery devices market. A report published by the World Health Organization (WHO) stated that cardiovascular disorders accounted for around 17.7 million or 31% of global deaths in 2015. Of these 6.7 million expiries were due to stroke and around 7.4 million due to coronary heart disease. This rise in the number of patients suffering from cardiovascular disorders across the globe is projected to drive the global cardiovascular surgery devices market. Cardiovascular disorders can be prevented by considering some behavioral risk factors such as unhealthy diet and obesity, tobacco use, excess intake of alcohol and increasing physical activities using population wide strategies.
The global cardiovascular surgery devices market can be segmented based on product, procedure, end-user, and region. In terms of product, the global cardiovascular surgery devices market can be classified into heart lung machine, breathing heart surgery systems, catheters, and perfusion disposables. The breathing heart surgery systems segment can be bifurcated into stabilizers and positioners. The catheters segment can be categorized into ablation catheter and drainage catheter. The perfusion disposables segment can be divided into oxygenators, centrifugal pumps, and cardioplegia delivery systems. Based on procedure, the global cardiovascular surgery devices market can be classified into coronary artery bypass grafting and minimally invasive surgery. The coronary artery bypass grafting segment can be bifurcated into on pump coronary artery bypass grafting and off pump coronary artery bypass grafting. In terms of end-user, the global cardiovascular surgery devices market can be divided into hospitals & surgical centers and ambulatory surgical centers. The hospitals & surgical centers segment accounted for major share of the global cardiovascular surgery devices market in 2017. Quality facilities provided by hospitals for surgical care is the key factor contributing to the high share of the segment. The ambulatory surgical centers segment is anticipated to grow at a rapid pace in the next few years. Increase in the number of ambulatory surgical centers and advanced quality of treatment provided by the ambulatory surgical centers are expected to propel the segment during the forecast period.
The global cardiovascular surgery devices market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to the American Medical Association (AMA), around 80 million people in the U.S. suffer from some form of heart disorder. Lifestyle associated disorders such as diabetes, stress, and cardiovascular disorders are affecting the geriatric population as well as individuals in early 30s and late 20s. Increase in the geriatric population is expected to drive the global cardiovascular surgery devices market during the forecast period. This demographic has exhibited increase in incidence of cardiovascular diseases, which will propel the cardiovascular surgery devices market at a double-digit growth rate during the forecast period. Rise in the number of cardiac surgeries is attributed to poor nutrition, stressful lives, obesity-related issues, and other health problems prevalent in the modern world that eventually lead to cardiovascular diseases.
Major players in the global cardiovascular surgery devices market are Medtronic, LivaNova plc, Terumo Corporation, Becton, Dickinson and Company, MAQUET Holding B.V. & Co. KG., Edwards Lifesciences Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Angiodynamics, and Cook Medical, Inc., among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.