Cardiovascular Surgical Devices: The Global Market

Published - Oct 2010| Analyst - Peggy Lehr| Code - HLC076A
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Report Highlights

  • The global market for cardiovascular surgical devices used in the operating room is worth an estimated $31 billion in 2010. By 2015, this market will be valued at nearly $48 billion, a compound annual growth rate (CAGR) of 8.7%.
  • Despite significant growth in interventional cardiac surgery procedures, the traditional cardiac surgical device market is expected to expand faster, primarily driven by the growth in cardioprosthetics such as ventricular assist devices. This sector is worth an estimated $7 billion in 2010 and is expected to increase at a 10.9% compound annual growth rate (CAGR) to reach $12 billion in 2015.
  • The second fastest area of growth is in cardiac rhythm management devices, particularly for the treatment of atrial fibrillation (AF). This sector is valued at $11 billion in 2010 and is expected to be worth $18 billion in 2015, a compound annual growth rate (CAGR) of 10.2%.



The goal of this study is to explore the different factors affecting cardiovascular surgery and the manufacture of cardiovascular devices. Cardiac surgery is on the rise globally, with macroeconomic factors such as aging populations; increased obesity, poor nutrition, and other heart-health stressors; and the technological maturity of devices that make sophisticated treatments feasible for patients in previously inaccessible populations.

Whether through disease, congenital defects, or generalized degradation of cardiological function over time, cardiovascular diseases are increasing dramatically, substantiating the need for continued growth of cardiovascular surgery.
According to statistics from the American Medical Association (AMA), more than 80 million people suffer from some form of heart disease. While cardiovascular surgery has long been practiced, recent innovations such as minimally invasive procedures, “beating heart” surgeries, cardiac rhythm management (CRM), and other procedural improvements have become treatments that create fewer side effects for patients and less time spent in post-surgical recovery.
Newer cardiovascular devices and procedures play a large part in enhancing the quality of life for an increasingly elderly population, as well as populations with poor cardiac function and other heart-related diseases. The ability of government-run health agencies and private insurers to cope with the increasing need for cardiovascular procedures and the skyrocketing costs involved have lead agencies and insurers alike to consider their payments surrounding necessary medical procedures and, consequently, cardiovascular surgical procedures.
This report will identify areas of growth within the cardiovascular surgical equipment market and identify companies offering innovative equipment relating to cardiovascular devices. Growth will be projected on manufacturers’ net revenues, unless otherwise indicated.
This report is designed to achieve the following objectives: 
  • Describe the trends and developments for each type of cardiovascular surgical technology and how each is meant to meet marketplace needs.
  • Analyze market and driving forces to project market size for the technologies and pinpoint target applications.
  • Examine the cardiovascular surgical business in terms of companies and their position in the market.
The report is designed to appeal to many different readers, including venture capitalists interested in exploring commercialization opportunities, marketing, and management individuals within the industry, and even the novice reader, who desires to understand how market pressures and technology interact in this industry.
The scope of this study encompasses multiple technologies and procedures related to cardiovascular surgical devices. The study focuses on several different types and categories of cardiovascular surgery involving traditional, interventional, and CRM devices, categorized logically so that comparisons can be made within diagnostic and procedural groups as well as across the cardiovascular surgical device industry as a whole.
BCC analyzes the industry on a worldwide basis from market, product, and technology perspectives. Regulations and reimbursement issues and patents issued from 2005 to 2010 are also examined to identify consumer safety, product introduction, and product safety regulatory issues for stakeholders and potential stakeholders in this industry.
The report examines the cardiovascular surgery equipment industry in general, the types of technology currently in use as well as future applications, and regulatory influences. The industry structure section discusses the most active manufacturers with regard to relative market share, marketing strengths, and forces that promote or hamper growth of technologies. The technology sections detail historical, current, and projected (2010 through 2015) market values.
BCC presents an analysis across the entire cardiovascular surgical device market based on reported revenue dollars and units shipped as reported to the Securities and Exchange Commission (SEC) and/or other governmental agencies, as well as company information such as annual reports and product/financial news releases.
We also analyze data gathered from the United States Patent Office (USPTO) databases. Technological and demographic information is gathered from industry sources, governmental sources, and published news reports.
BCC conducted primary and secondary research to develop this report. Sources included companies in the cardiovascular device market and supply industry, public documents, SEC filings, corporate white papers, and other technical documentation for U.S. and international companies directly involved in manufacturing and distributing of cardiovascular devices and related equipment. The report excludes resellers and retailers, focusing rather on the primary companies responsible for the development of the underlying technology.
Where precise information was not available, a consensus was made using reasonable assumptions and estimates based on historical data.
Peggy S. Lehr is the BCC Research Analyst of this report. Ms. Lehr has worked within the publishing arms of for-profit and not-for-profit organizations, with an emphasis on medical and nursing-related issues. She is the author of several BCC reports on the medical industry.
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The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature. This information does not constitute managerial, legal, or accounting advice; nor should it serve as a corporate policy guide, laboratory manual, or an endorsement of any product, as much of the information is speculative in nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or its use.

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