Dublin, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The "The US Cardiovascular Needle Market (Type, Application, Usage, & End User): Insights and Forecast with Potential Impact of COVID-19 (2022-2026)" report has been added to ResearchAndMarkets.com's offering.
The US cardiovascular needle market is foreseen to reach US$36.71 million in 2023, growing at a CAGR of 7.55% during the forecasted period.
A surgical suture, commonly referred to as a stitch or stitches, is a medical device used to hold tissues and wound edges together following an injury or surgical procedure. Suturing is a technique for closing wounds, primarily used for cutaneous wounds, to discreetly seal the skin, provide support during the healing process, minimize the risk of bleeding, and improve the appearance of scars.
Driver: Rising Prevalence of Cardiovascular Diseases
Cardiovascular diseases (CVDs) are expected to remain the leading causes of morbidity and mortality in the foreseeable future. These conditions, which can lead to heart attacks and strokes, often result from the buildup of fat around blood vessels, restricting blood flow to the heart or brain. In some cases, bleeding arteries or blood clots in the brain can cause strokes.
The treatment of these disorders often requires specialized surgeries, during which cardiovascular needles are used to suture the wounds. Consequently, the increasing prevalence of cardiovascular diseases has driven the demand for cardiovascular devices for diagnosis and treatment, contributing to the growth of the cardiovascular needle market in recent years.
Challenge: Growing Use of Surgical Staples
Immediate treatment is essential for cardiac injuries to prevent fatalities. While severe heart damage may have subtle or indirect symptoms, it sometimes necessitates urgent intervention. Robotic cardiac surgery has gained popularity, with many adults and children undergoing successful procedures with robotic assistance.
The use of robots in cardiovascular surgery has reduced the demand for traditional sutures, as robotic procedures typically involve stapling wounds rather than suturing them. Surgeons performing emergency cardiac sutures may face risks of needlestick injuries. To address this, stapling is increasingly used to control bleeding resulting from penetrating injuries, especially when multiple cardiac lacerations are present.
As a result, the growing preference for surgical staples has hindered the growth of the cardiovascular needle market.
Trend: Integration of AI in Healthcare
Artificial intelligence (AI) is making inroads in cardiovascular medicine, improving prognosis and treatment outcomes. AI can assess a patient's medical history and recommend the appropriate treatment. AI has also entered the surgical field, focusing initially on feature identification for pre-operative planning and intra-operative guidance, particularly in imaging and navigation.
With advancements in imaging and navigation technologies, AI is poised to enhance cardiovascular surgery. The increasing adoption and efficacy of AI in healthcare are expected to drive growth in the cardiovascular needle market in the coming years.
The COVID-19 Impact
The COVID-19 pandemic had a short-term adverse effect on the US cardiovascular needle market. Hospitals faced resource constraints, necessitating the prioritization of critical care resources to reduce hospital admissions. Cardiac patients not only require ICU resources but are also at higher risk of COVID-19 complications.
Data from the Society of Thoracic Surgeons Adult Cardiac Surgery Database and the Johns Hopkins COVID-19 database showed a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases in the US. The pandemic increased awareness of the need for non-reusable products, which is expected to drive the growth of the single-use cardiovascular needle segment in the post-COVID period.
Analysis of Key Players
The US cardiovascular needle market is characterized by fragmentation, with key players offering a variety of needles with different patterns, shapes, sizes, and lengths. These companies employ strategies such as collaborations, partnerships, innovative product launches, and expansions of manufacturing and distribution units to maintain a competitive edge in the market.
The key players of the US cardiovascular needle market are Becton, Dickinson and Company (BD), Johnson & Johnson Inc., Medtronic Plc, KLS Martin Group, CP Medical, Teleflex Incorporated, Rumex International Corporation, Sklar Surgical Instruments, FSSB surgical needles GmbH, and Meril Life Science.
SegmentAnalysis
- The round bodied needle segment held the highest share, owing to the easy separation of tissues and leak proof suture.
- Open heart surgery segment is the fastest growing segment during the forecasted period, due to the surge in congenital abnormalities and vascular malfunction in the senior population.
- Due to the increased awareness of infectious diseases and time efficiency as there is no need to re thread, the single use segment is the fastest growing segment during the forecasted year.
- Hospitals and clinics segment dominated the market by occupying largest share. Hospitals are being upgraded with modernized equipment, digital pathology, and artificial intelligence as a result of advancements in healthcare facilities. Hospitals collaborate with a variety of doctors, specialists, and other healthcare professionals to provide better care.
Company Profiles
- Becton, Dickinson and Company
- CP Medical
- FSSB Surgical Needles GmbH
- Johnson & Johnson Inc.
- KLS Martin Group
- Medtronic Plc
- Meril Life Sciences
- Rumex International Corporation
- Sklar Surgical Instruments
- Teleflex Incorporated
Top Impacting Factors
Growth Drivers
- Rising Prevalence of Cardiovascular Diseases
- Increasing Old Age Population
- Increased Prevalence of Diabetes
- Advancement In Surgeries
Challenges
- Growing Use of Surgical Staples
- High Costs Involved
Trends
- Use of AI in Healthcare
- New Product Launches
- Growing Adoption of Telehealth
For more information about this report visit https://www.researchandmarkets.com/r/cna2qy
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