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Impact of Existing and Emerging Cardiovascular Needle Market Trends
March 28, 2016
A new industry report forecasts future trends for the growing worldwide demand for cardiovascular needles. North Amnerica is expected to continue to lead demand for the products, but all regions are seeing increased demand.
Cardiovascular needles are used in the cardiac or vascular interventions to close the surgical wounds. Various cardiovascular surgeries include percutaneous coronary interventions (Angioplasty), open heart surgery, cardiac valve procedures, heart transplant, coronary artery bypass graft surgery (CABG) and other minimally invasive surgical procedures all of which ultimately utilize surgical needles.
According to a survey conducted by Johnson and Johnson Pvt. Ltd. in 2014, approximately 2.5 Mn cardiovascular surgeries occur in U.S. every year, 16% of these procedures are CABG and 5% include cardiac valve repair surgeries. A wide variety of cardiovascular needles available in market including EVERPOINT, Ethicon suture needles etc. demand for which is expanding every day because of increase in number of cardiovascular interventions worldwide.
Cardiovascular Needle Market: Drivers and Restraints Increasing prevalence of cardiovascular disorders and expanding aging demographics are the major drivers for the growth of global cardiovascular needle market. In addition to this changes in lifestyle, increasing co-morbidities, excessive use of tobacco, incidence of obesity are some other factors expected to fuel the global cardiovascular needle market. However, expanding use of surgical staples instead of needles and suture can deter the demand for cardiovascular needles.
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Cardiovascular Needle Market: Overview
The global market for cardiovascular needles is expected to grow moderately over the forecast period of 2016-2026 due to replacement of traditional procedure with surgical staples’ use. The disposable or single use needles segment share is expected to expand due to increasing number of outpatient procedures and increasing awareness of infectious diseases. Hospital segment is anticipated to hold a larger share due to increasing number of recurrent cardiovascular interventions.
Cardiovascular Needle Market: Regional Overview
Geographically, the global cardiovascular needle market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America will continue to lead the global cardiovascular needle market over the forecast period of 2016-2026 as a result of expanding aging population and increased life expectancy. New technology of laser drilled cardiovascular needle is expected to boost the market volume of global cardiovascular needle market.
Cardiovascular Needle Market: Key Players
Some of the key players in global cardiovascular needle market include Ethicon US, LLC, MANI, Inc., SMB Corporation, CP Medical, Inc., Barber of Sheffield Ltd., Quality Needles Pvt. Ltd., FSSB surgical needles GmbH etc. The company are more interested in manufacturing disposable needles then re-usable needles.
Copyright: North America Procurement Council, Inc. PBC