Major Reasons Behind the Global Industry Growth:

The growth of the cardiac surgery instruments 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 to a certain extent during the forecast period.

Projected Revenue Growth:

The global 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%.

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Geographical Segmentation:

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.

Key Players:

Prominent players in the cardiac surgery instruments market include Becton, Dickinson and Company (U.S.), B. Braun Melsungen AG (Germany), Teleflex Incorporated (U.S.), Medline Industries, Inc. (U.S.), KLS Martin Group (U.S.), Stille (Sweden), Sklar Surgical Instruments (U.S.), Symmetry Surgical Inc. (U.S.), Delacroix-Chevalier (France), Wexler Surgical (U.S.), Surgins (U.K.), Surtex Instruments Ltd. (U.K.), Cardivon Surgical Inc. (China), Rumex International Corporation (U.S.), and Scanlan International (U.S.).

Different Growth Strategies Adopted by Them:

Companies are focusing on adopting organic and inorganic growth strategies such as partnerships, agreements, acquisition, and expansion. These strategies help market players strengthen their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

The overall growth strategies mapped from 2014 to 2017 include partnerships, agreements, collaboration, acquisition, and expansion. Acquisitions were the key strategies adopted by industry players to achieve growth in the market.

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Target Audience:

# Hospitals and private clinics
# Cardiac centers
# Ambulatory surgery centers (ASCs)
# Academic institutes
# Medical research institutes
# Market research and consulting firms
# Venture capitalists
# Suppliers and distributors of cardiac surgery instruments

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