Wilmington, Delaware, United States, May 25, 2023 (GLOBE NEWSWIRE) -- The global cardiovascular proximal anastomosis devices market is projected to flourish at a CAGR of 5.7% from 2020 to 2030. As per the report published by TMR, the global cardiovascular proximal anastomosis devices market is expected to reach US$ 23.6 billion by 2030. The market was valued at US$ 12.9 million in 2019
An increasing number of cardiovascular procedures performed & increasing prevalence of chronic diseases across the globe are the key factors driving the growth of the cardiovascular proximal anastomosis devices market during the forecast period.
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The rapid technological advances in cardiac procedures and increased rate of coronary heart disease, coronary artery diseases, and availability of technologically advanced products are expected to fuel the market growth globally. The increased rate of coronary artery bypass graft procedures owing to the increasing geriatric population is expected to boost the cardiovascular proximal anastomosis devices market.
The favorable reimbursement scenario for cardiac procedures, open heart valve replacement, and angioplasty in developed regions are also expected to boost the demand for cardiovascular proximal anastomosis devices throughout the forecast period. The increasing cases of colon cancer, cardiac bypass, and cholecystectomy procedures performed are also expected to propel the demand for cardiovascular proximal anastomosis devices.
The increasing prevalence of minimally invasive procedures performed during cardiovascular surgeries and increased use of proximal anastomosis devices resulted in reduced trauma, and faster recovery, thus demand for these devices is high in minimally invasive techniques.
Increasing healthcare spending in emerging economies and growing government spending on advanced medical technology and surgical devices are also contributing to the growth of the cardiovascular proximal anastomosis devices market.
Key Takeaways from the Market Report
- As of 2023, the cardiovascular proximal anastomosis devices market is forecast to reach US$ 16.07million
- By product type, the automatic proximal anastomotic devices segment is expected to account for key market share in 2023
- Based on end-users hospitals remain the most favored medical setting
- North America is projected to be the lucrative market for cardiovascular proximal anastomosis devices
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Cardiovascular Proximal Anastomosis Devices Market: Prominent Drivers and Trends
- Increased advancement in healthcare settings and increased prevalence of cardiovascular disease coupled with increasing treatment rates to drive the market growth during the forecast period
- Increasing adoption of minimally invasive surgical techniques of offers an opportunity for market expansion.
- Technological innovation and an increase in research & development activities by leading players and the development of these devices with improved ease of use accelerate the growth of the market during the forecast period.
Cardiovascular Proximal Anastomosis Devices Market: Regional Analysis
- North America is expected to account for the maximum share of the cardiovascular proximal anastomosis devices market during the forecast period. An increasing prevalence of cardiovascular disorders and an increase in the number of CABG procedures performed in the region are the key factors driving the growth of the market.
- Asia Pacific is likely to emerge as yet another opportunistic hub, due to the growing geriatric population and large consumer base for the targeted diseases are fueling the regional market growth. The increased risk of cardiac diseases in countries like India and China is the key factor busting the cardiovascular proximal anastomosis devices market in the region.
Competitive Landscape
Transparency Market Research has profiled the following players in its global cardiovascular proximal anastomosis devices market report:
- B.Braun Melsungen AG
- Medtronic PLC
- Getinge AB
- Peter Surgical
The key cardiovascular proximal anastomosis devices market players are engaged in regulatory approvals, the launch of new products, and new and strategic collaborations. Some specific developments are as follows:
- Getingsns introduced Heartstring III proximal steal system. A hemostatic seal enables surgeons to eliminate partial occlusion clamp and minimize aortic manipulation during proximal anastomosis that can lead to complications. The heartstring III proximal anastomotic seal technology allows for clampless hemostasis during proximal anastomoses when performing the CABG procedure. It allows hand suturing without using either the cross clamp or the side-biting clamp.
- Peters Surgical France is expanding its activities, particularly in its Breton factory in Domalain (Ille-et-Vilaine). The company manufactures titanium hemostatic clips there and plans to launch the production of an organic glue to reinforce the sutures following surgical operations on people marked by severe obesity.
- In January 2022 - B. Braun expands its footprint in Vietnam with the ground-breaking of a new factory
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Cardiovascular Proximal Anastomosis Devices Market: Key Segments
By Product Type
- Automatic Proximal Anastomotic Devices
- Manual Proximal Anastomotic Devices
By End-User
- Hospitals
- Ambulatory surgical centers
- Specialty Clinics
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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