BEATING HEART SURGERY STABILIZER MARKET REPORT OVERVIEW
The global beating heart surgerystabilizer market size was USD 684.40 million in 2023 and the market is projected to touch USD 1345.49 million by 2032, exhibiting a CAGR of 7.80% during the forecast period.
Beating heart surgery stabilizer is a vital instrument in the medical field. It is used in coronary artery bypass surgery while the heart is beating. The objective of stabilizer is to make an anastomosis forcibly of the presser foot. It can also be done by only the pressure of the presser foot when the heart is beating. The surface of the heart is locally fixed at the location of coronary arteries. Reducing the beating amplitude and creating a relatively stable operation area by achieving the function of limiting and revealing the coronary anastomosis position.
Increasing numbers of heart disease in an individual and growing demand for minimally invasive procedures are fueling market growth. Advancements in surgical techniques and integration of technologies are supporting market progress faster in the coming years.
COVID-19 Impact: Market Growth Hindered by Pandemic due to Giving Prioritization to Virus Patients
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The hospitals and healthcare centers were engaged by the infected patients and the virus dominates other surgeries. The availability of doctors was limited and forced to cancel numerous surgeries. This factor had impacted on demand and the market growth. While the hope is that as the situation improves, the market will recover, the immediate impact of the pandemic has been a roadblock for distribution systems.
LATEST TRENDS
Increasing Demand for Robot-Assistance Surgery Technique Boosts Market Progress
Current trend in the market that is fueling the market progress is the increasing demand for the robot-assistance surgery method by the surgeons. A robotic assistance technique improves visualization, control and precision. These improvements provide better results and reduced recovery time. Hence, it pushes healthcare organizations to invest more on the robotic system.
BEATING HEART SURGERY STABILIZER MARKET SEGMENTATION
By Type
Based on type the global market can be categorized into normal type, universal type, & others.
- Normal Type: The normal type devices are specifically designed which refers to stabilizers and are used in standard beating heart surgeries.
- Universal Type: The universal type of instrument is used in various types of cardiac procedures and it is more versatile.
- Others: There are other types of instrument with unique features and are used for specific applications to cater particular surgical needs.
By Application
Based on application the global market can be categorized into hospitals, specialty clinics, & others.
- Hospitals: Hospital is the main user of this tool due to its advanced cardiac surgeries procedures with better outcomes.
- Specialty Clinics: Specialty Clinics utilizes these devices for performing specialized cardiovascular treatment and interventions.
- Others: There are other various application healthcare centers which use this equipment for effective stabilization and precision surgeries.
DRIVING FACTORS
Growing Rate of Cardiovascular Disease Propelling Market Growth
One of the key attributes to the global beating heart surgery stabilizermarket growth is the increasing rate of heart disease worldwide. This leads to an increase in requirement for the medical services and treatments which increases demand for the devices. Increasing sedentary lifestyles, unhealthy diets, and limited physical movement are raising the rate of the cardiac disorder in the population. Additionally, increasing obesity and diabetes among people are a further addition to the number of patients with heart disease. Hence, the number of patience increases rapidly that raises demand for the tools and consequently the market is expanding significantly. Furthermore, the increasing geriatric population globally is boosting demand for the product and supporting market growth.
Rising Demand for Minimally Invasive Treatment Enhances Market Growth
Another growing factor which is supporting market progress is the increasing adoption of minimally invasive procedures. It is a procedure less invasive than traditional open surgeries and reduces recovery time. It involves fewer risks of complications and decreases the number of days to stay in the hospital. Hence, owing to these benefits, it is becoming popular and increasing demand for heart stabilizers and hence improves market development. Additionally, growing awareness about heart stability tools among the population and medical sector are enhancing demand for this treatment and impelling the market expansion.
RESTRAINING FACTORS
Expensive Medical Treatment Hamper Market Growth
One of the major constraints for the market progress is the expensiveness of the treatment for heart stabilizer. The cost of medical procedures for heart related disease is expensive in some regions. Many patients with average financial background are reluctant to access these treatments. Hence, it reduces the number of demand in the developing region which hinders market growth. Furthermore, the lack of effective treatment options and limited access to healthcare services are impacting on demand and consequently impeding market progress.
BEATING HEART SURGERY STABILIZER MARKET REGIONAL INSIGHTS
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
North America Region Dominating the Market due to Presence Advanced Medical Infrastructure
North America has emerged as the most dominant region in the global beating heart surgery stabilizer market share due to the existence of advanced medical infrastructure in the region. They have high-tech cardiac centers and good healthcare development. Due to the rapid implementation of advanced technology and application of heart surgery is propelling demand for the instrument and making the region dominant. Additionally, favorable reimbursement policies such as incentives in the region for minimally invasive procedures are encouraging adoption of these treatments that support market growth. The Asia Pacific is experiencing considerable market progress due to the increasing number of older population and increasing demand for advanced medical technology. Growing awareness of the benefits of preventive healthcare is propelling market expansion.
KEY INDUSTRY PLAYERS
Key Industry Players Shaping the Market through Innovation and Market Strategies
Many prominent industry players are operating in this market focused on providing high performance and innovative treatment by implementing advanced technologies and constantly introducing inventive solutions. There are many companies in the market that use some techniques such as merger, acquisitions, partnership and using new advanced technologies for producing and developing new products and stay ahead in the market.
List of Market Players Profiled
- Getinge (Sweden)
- Terumo (Japan)
- Wego New Life (China)
- Medtronic (Ireland)
- HTKD Medical (China)
- Changzhou Kangxin Medical Device (China)
- Beijing Medos AT Biotechnology (China)
- Lepu Medical (China)
- Tianjin Welcome (China)
- Chase Medical (U.K.)
INDUSTRIAL DEVELOPMENT
August 2022: Medtronic plc announced the acquisition of Affera, Inc. The objective of this acquisition is to expand company cardiac ablation. It includes its first-ever cardiac mapping and navigation platform that combines a radiofrequency ablation solution and distinct diagnostic technology.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
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