Cardiovascular Proximal Anastomosis Devices Market: Introduction
According to the report, the global cardiovascular proximal anastomosis devices market was valued at US$ 12.9 Mn in 2019. It is projected to expand at a CAGR of ~6% from 2020 to 2030. According to the World Health Organization (WHO), cardiovascular diseases account for nearly 17.9 million deaths every year, which is estimated to be 31% of all global deaths. This makes cardiovascular diseases (CVDs) the leading cause of death around the world. Coronary heart disease is a highly common type of heart disease, causing 365,914 deaths in 2017 in the U.S. North America is likely to be a highly lucrative market for cardiovascular proximal anastomosis devices from 2020 to 2030. The market in the region is projected to expand at a high CAGR during the forecast period.
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Rise in Geriatric Population and Prevalence of Cardiovascular Disease to Drive Market
According to the World Health Organization (WHO), population aged 60 years and above is projected to rise from 900 million in 2015 to 2000 million in 2050. Increase in geriatric population leads to a surge in incidence of age-related issues such as cardiovascular diseases, and other conditions such as diabetes, high cholesterol, and hypertension, which leads to cardiovascular diseases. This is anticipated to boost the market. According to CDC, 18.2 million adults aged 20 and older have CAD (about 6.7%) in the U.S. Of every 10 deaths, two occur from CAD in adults less than 65 years old. Hence, a rise in prevalence of coronary artery disease (CAD) is projected to fuel the global cardiovascular proximal anastomosis devices market during the forecast period.
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Manual Proximal Anastomotic to Dominate Global Market
In terms of product type, the global cardiovascular proximal anastomosis devices market has been classified into automatic proximal anastomotic devices and manual proximal anastomotic devices. The manual proximal anastomotic devices segment dominated the global cardiovascular proximal anastomosis devices market in 2019, and the trend is projected to continue during the forecast period. The expansion of the segment can be attributed to the fact that surgeons are reluctant to accept alternative anastomotic technologies that possess potential advantages, as they have been practicing manual suturing for their entire careers. Manual devices eliminate the need for partial occlusion clamping during CABG and provide stable bloodless area, which enable surgeon to create sutures anastomosis without modifying their standard techniques.
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Hospitals to be Highly Lucrative End User
Based on end user, the global cardiovascular proximal anastomosis devices market has been categorized into hospitals, ambulatory surgical centers, and specialty clinics. The hospitals segment dominated the global cardiovascular proximal anastomosis devices market, and the trend is anticipated to continue during the forecast period. Increase in the number of cardiovascular diseases is boosting the number of CABG surgeries, and these procedures primarily occur in hospitals. This is likely to augment the segment during the forecast period.
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Competition Landscape
Key players in the global cardiovascular proximal anastomosis devices market include B. Braun Melsungen AG, Medtronic plc, Getinge AB, and Péters Surgical.
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