Cardiovascular Needle Market will reach to USD 148.8 billion by 2030 : GreyViews

Pune India, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the cardiovascular needle market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the cardiovascular needle market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, application, usage, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs. 

The significant players operating in the global cardiovascular needle market are BD (US), CP Medical, Inc. (U.S.), Sklar Surgical Instruments (US), B. Braun Melsungen AG (Germany), Surgins surgical Ltd. (UK), Ethicon Inc. (US), KLS Martin Group (US), Scanlan International Inc. (US), Rumex International Corporation Ltd. (UK), Teleflex Incorporated (US), Medline Industries, Inc. (US), Delacroix-Chevalier (France), Surtex Instruments Ltd. (UK), and Symmetry Surgical Inc. (US).  among other. To achieve a substantial market share in the worldwide cardiovascular needle market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Heart and blood vessel problems known as cardiovascular diseases (CVDs) include conditions including cerebrovascular disease, coronary heart disease, rheumatic heart disease, and others. Some of the main lifestyle choices that contribute to CVDs and raise the risk of heart attacks and strokes are smoking, eating poorly, and not exercising. Additionally, diabetes, high cholesterol, and hypertension are risk factors for these illnesses. Open heart surgery, cardiac valve surgery, heart transplant procedures, coronary artery bypass graft treatments, and other procedures all call for the use of cardiovascular needles. There are several variations of these needles, including eyeless, single-use, and multiple-use. Surgalloy and Ethalloy, two cutting-edge stainless steel alloys with high nickel contents, are used to make these needles. According to the World Health Organization (WHO), 17.7 million deaths from cardiovascular diseases are estimated to have occurred globally in 2015, making up 31% of all fatalities. Of these fatalities, 7.4 million were due to coronary heart disease and 6.7 million to stroke. According to estimates from the World Health Organization (WHO), 8.5% of adults (18 and older) had diabetes in 2014, and the condition directly caused around 1.6 million deaths in 2015. Therefore, the growing frequency of chronic illnesses is the main factor driving the global cardiovascular market. There are many reasons why the global market is growing, including poor eating patterns and insufficient exercise.

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Scope of cardiovascular needle market Report

Segmentation Analysis

The cutting needles segment is expected to be the fastest-growing segment in 2022. 

The type segment is cutting needles and round bodied needles. The cutting needles segment is expected to witness the highest growth rate during the forecast period. Cutting needles have a basic triangular shape, with the triangle's tip at the inside arch of the needle. Cutting needles feature at least two opposing cutting blades because the point is frequently trapezoidal. Cutting needles are designed to puncture through dense, irregular, and thick tissues.

The open heart surgery segment is expected to be the fastest-growing segment in 2022. 

The application segment is cardiac valve procedures, open-heart surgery, heart transplant, coronary artery bypass graft surgery, and others. The open heart surgery segment is expected to witness the highest growth rate during the forecast period. Open-heart surgery is any procedure in which the chest is opened and the heart's muscles, valves, or arteries are operated on. According to the National Heart, Lung, and Blood Institute (NHLBI)Trusted Source, coronary artery bypass grafting (CABG) is the most common type of adult cardiac surgery. During this treatment, a healthy artery or vein is grafted (attached) to a blocked coronary artery. By "bypassing" the blocked artery, the grafted artery can now replenish the heart with fresh blood. Open-heart surgery is another term for traditional heart surgery. Nowadays, many heart procedures can be performed with only a small incision rather than a large one. Therefore, to speak to open heart surgery as such may be misleading.

The single use segment is expected to be the fastest-growing segment in 2022. 

The usage segment is multiple use and single use. The single use segment is expected to witness the highest growth rate during the forecast period. The single-use syringe is primarily used for administering injections and drugs, and is favoured by medical professionals worldwide. In contrast to the typical reusable syringe, which is cleaned and reused, this type of syringe prevents the transmission of blood-borne illnesses. The single-use syringe is propelled by a simple piston-pump device.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the cardiovascular needle include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

• The North America region witnessed a major share. Due to an increase in the older population, better healthcare, and a longer life expectancy. Additionally, it is projected that the introduction of innovative goods such as cardiovascular needles with laser drilling would increase demand throughout the course of the forecast period.

Country Analysis

• Germany

Germany's cardiovascular needle market size was valued at USD 0.132 billion in 2022 and is expected to reach USD 0.244 billion by 2030, at a CAGR of 8% from 2023 to 2030.
Due to the existence of big companies, Germany continues to occupy the second spot in the global market.

•   China

China’s cardiovascular needle market size was valued at USD 0.139 billion in 2022 and is expected to reach USD 0.26 billion by 2030, at a CAGR of 8.3% from 2023 to 2030.The physical qualities of suture material and suture methods have significantly improved thanks to players in these regional markets.

• India

India's cardiovascular needle market size was valued at USD 0.107 billion in 2022 and is expected to reach USD 0.201 billion by 2030, at a CAGR of 8.2% from 2023 to 2030.The demand for surgeries that help reduce morbidity and mortality brought on by the prevalence of cardiovascular disease is increasing the potential of the cardiovascular needle market in India.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of the cardiovascular needle market is mainly driven by the rise in cardiovascular illness.

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