Market Introduction
The cardiovascular needles are used during a number of cardiovascular surgeries such as open-heart surgery, cardiac valve procedures, heart transplant, coronary artery bypass graft surgery, and many more surgeries need surgical needles. These cardiovascular needles are of two types: single use or eyeless needles and multiple use or eyed needles. Cardiovascular needles are manufactured from new stainless-steel alloys containing high concentrations of nickel, Surgalloy and Ethalloy.
Thus, the increasing prevalence of cardiovascular diseases are expected to create a significant demand for cardiovascular needle in the coming years, which is further anticipated to drive the cardiovascular needle market.
Cardiac surgical patients not only require vital ICU resources but are also potentially in the highest risk category of complications of COVID-19. Hence, most of the hospitals and surgical enters has considered to cancel or postponed elective surgeries including cardiovascular surgeries. Hence impact of COVID 19 is expected to be somewhat negative on cardiovascular needle market, but it is also anticipated for short term. According to the Society of Thoracic Surgeons Adult Cardiac Surgery Database and Johns Hopkins COVID-19 database, there was a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases in United States. After the first COVID-19 surge, nationwide cardiac surgical case volumes have declined, which indicates a COVID-19-associated impact on cardiac surgery patients. However, in long run, as the vaccination schedule will establishes and transmission rate decreases, healthcare systems will return to normal and will have increased demand for cardiovascular needle, which will support the market.
Market Overview and Dynamics
The Cardiovascular needle market in North America is expected to grow from US$ 30,555.0 thousands in 2021 to US$ 50,854.8 thousands by 2028; it is estimated to grow at a CAGR of 7.5% from 2021 to 2028. The healthcare and medical device industries have flourished significantly in the last decade. Technological advancements, resulting in surge in the availability of numerous connected medical devices and rise in their importance in healthcare, are revolutionizing the medical device industry. There is a huge gap in the current demand and supply of medical devices, which provides a significant opportunity for device manufacturers to establish their presence in the region.
Key Market Segments
In terms of type, the round-bodied needles segment accounted for the largest share of the North America cardiovascular needle market in 2020. In terms of application, the open-heart surgery segment accounted for the largest share of the North America cardiovascular needle market in 2020. In terms of usage, the single use segment accounted for the largest share of the North America cardiovascular needle market in 2020. In terms of end user, the hospitals and clinics segment accounted for the largest share of the North America cardiovascular needle market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the cardiovascular needle market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Ethicon (Johnson & Johnson Services, Inc.), MANI, INC., Barber of Sheffield, FSSB surgical needles GmbH, Medtronic, Teleflex Incorporated, Meril Life Sciences Pvt. Ltd., CP Medical, and SMB Corporation of India.
Reasons to buy report
North America Cardiovascular Needle Market Segmentation
By Application
By Usage
By End User
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 30,555.0 thousand |
| Market Size by 2028 | US$ 50,854.8 thousand |
| CAGR (2021 - 2028) | 7.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Cardiovascular Needle Market is valued at US$ 30,555.0 thousand in 2021, it is projected to reach US$ 50,854.8 thousand by 2028.
As per our report North America Cardiovascular Needle Market, the market size is valued at US$ 30,555.0 thousand in 2021, projecting it to reach US$ 50,854.8 thousand by 2028. This translates to a CAGR of approximately 7.5% during the forecast period.
The North America Cardiovascular Needle Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Cardiovascular Needle Market report:
The North America Cardiovascular Needle Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Cardiovascular Needle Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Cardiovascular Needle Market value chain can benefit from the information contained in a comprehensive market report.
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