SOURCE: MarketResearch.com

MarketResearch.com

April 09, 2012 06:08 ET

Market Research Forecasts the Cardiovascular Surgery Devices Market at $1.6 Billion by 2017

ROCKVILLE, MD--(Marketwire - Apr 9, 2012) - MarketResearch.com has announced the addition of the new report "Cardiovascular Surgery Devices Market to 2017 - Technological Advances and Shift Towards Minimally Invasive Procedures Driving Market Growth" to their collection of Medical Devices market reports. For more information, visit http://www.marketresearch.com/GBI-Research-v3759/Cardiovascular-Surgery-Devices-Technological-Advances-6871124/

The global cardiovascular surgery devices market is forecast to reach $1.6 billion by 2017, with a compound annual growth rate (CAGR) of -1.3% from 2010-2017. The cardiovascular surgery devices market is expected to decline in this period due to the increasing adoption of alternative treatment procedures, such as percutaneous coronary intervention (PCI) and other minimally invasive interventions, and the shortage of cardiac surgeons in the US. In addition to this, a falling average selling price (ASP) and cost containment pressures in developed economies will also negatively affect the cardiovascular surgery devices market.

The perfusion disposables market emerged as the largest category in the global cardiovascular surgery devices market in 2010. The perfusion disposables market accounted for 79% of the total cardiovascular surgery devices market. The global perfusion disposables market was valued at $1.4 billion in 2010 and is forecast to decline at a CAGR of 1.5% from 2010-2017, to reach $1.3 billion. The beating heart surgery systems market accounted for 12% of the total cardiovascular surgery devices market and was worth $0.2 billion in 2010.

The US is the biggest market for cardiovascular surgery devices, contributing to 38% and accounting for $688m of the global market in 2010. The cardiovascular surgery devices market in the US is forecast to decline at a CAGR of -1.6%, to reach a market value of $616.1m in 2017.

Factors such as the aging and increasing patient population and minimally invasive procedures are maintaining demand for devices. However, the increasing adoption of alternative treatment procedures and the shortage of cardiovascular surgeons in the US will negatively affect the growth of the cardiovascular surgery devices market.

In 2010, Medtronic was the largest player in the global cardiovascular surgery devices market, with a market share of 24%. This was followed by Sorin with 19%, MAQUET with 15% and Terumo Corporation with 5%. The global cardiovascular surgery devices market is dominated by established companies which collectively account for 63% of the total market. Medtronic's market dominance can be attributed to its global reach, brand presence and technologically advanced products. Medtronic dominates the North American market, which is the largest global market for cardiovascular surgery devices.

For more information, visit http://www.marketresearch.com/GBI-Research-v3759/Cardiovascular-Surgery-Devices-Technological-Advances-6871124/

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