The Cardiovascular Needle Market report initially provides a basic overview of the industry which covers applications, company definition and analysis.
NEW YORK, USA, Jan. 24, 2023 /EINPresswire.com/ — The cardiovascular needle industry is expected to reach $84.429 million in 2021 and is projected to reach $137.855 million by 2028; expected to grow at a CAGR of 7.3% from 2021 to 2028 with analysis of size, share, growth, trends, segments and industry demand.
The COVID-19 pandemic has become the most significant challenge worldwide. As this pandemic has stressed healthcare systems around the world, prioritizing limited resources has been essential to minimize hospital admissions. Cardiac surgical patients not only require vital ICU resources, but are also potentially in the highest risk category for complications from COVID-19. Thus, most hospitals and surgical centers considered canceling or postponing elective surgeries, including cardiovascular surgeries.
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Key Companies Summary – Ethicon (Johnson & Johnson Services, Inc.), Mani, Inc., Barber of Sheffield, FSSB surgery needles GmbH, Medtronic, Aurolab., Teleflex Incorporated., Meril Life Sciences Pvt. Ltd., CP Medical. and SMB Corporation of India are among the major companies operating in the market. Therefore, the impact of COVID 19 is expected to be somewhat negative on the market in the short term. However, in the longer term, as the vaccination schedule is established and the rate of transmission decreases, health systems will return to normal and there will be greater demand for cardiovascular needles, which will support the market.
Cardiovascular diseases (CVDs) are disorders of the heart and blood vessels, and the category includes cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other conditions. Tobacco use, unhealthy diet and physical inactivity, which increase the risk of heart attacks and strokes, are some of the main lifestyle factors that lead to CVDs. Other risk factors that cause these diseases include high blood pressure, diabetes and increased cholesterol levels. CVDs are among the top 10 causes of death worldwide. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death worldwide. Cardiovascular diseases (CVDs) are likely to continue to be a major cause of morbidity and mortality worldwide. According to WHO data, approximately 17.9 million people worldwide died of CVD in 2016, which represented 31.0% of the total mortality reported in that year. Among these, about 85% of the deaths were due to heart attacks and strokes. Fat deposits around blood vessels that impede blood flow to the heart or brain is the leading cause of heart attack and stroke. Bleeding vessels or blood clots in the brain are some other causes of stroke.
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According to the 2017 European Statistics on Cardiovascular Diseases, CVD causes 3.9 million and more than 1.8 million deaths in Europe and the European Union (EU), respectively, every year. Thus, these diseases account for 45.0% and 37.0% of total mortality in Europe and the EU, respectively. Furthermore, according to 2019 American Heart Association (AHA) statistics, 121.5 million adults in the US, i.e. approximately 50% of the US adult population, suffer from CVDs every year. According to the Journal of the American College of Cardiology, Asia has an increasing prevalence of high blood pressure, diabetes, and high cholesterol levels. Countries such as Japan, China and India are major contributors to the total incidence of CVD in the region. Thus, the significantly increasing incidence of CVDs worldwide is contributing to the high demand for cardiovascular diagnostic and treatment devices, which is driving the growth of the cardiovascular needle market.
On the basis of type, the cardiovascular needles market is segmented into round body needles and cutting needles. The round body needles segment would account for a larger market share in 2021, and the cutting needles segment is expected to register a higher CAGR in the market during the forecast period.
Application based information
Based on application, the cardiovascular needle market is segmented into open heart surgery and heart valve procedures. The open heart surgery segment is expected to hold a larger market share in 2021 and is estimated to register a higher CAGR in the market during 2021–2028. The growth of the open-heart surgery segment is attributed to the increase in open-heart surgeries worldwide.
Insights based on usage
On the basis of usage, the cardiovascular needle market is segmented into single-use and multiple-use. The single-use segment is estimated to represent a larger market share in 2021. The market for this segment is estimated to grow at a higher CAGR from 2021 to 2028.
End user based information
On an end-user basis, the market for cardiovascular needles is segmented into hospitals and clinics, outpatient surgical centers, and cardiovascular centers. The hospitals and clinics segment would hold the largest market share in 2021; it is further estimated to register the highest CAGR in the market during the forecast period.
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