Asia Pacific Cardiovascular Needle Market

Market Introduction

The cardiovascular needles are used during a number of cardiovascular surgeries such as open-heart surgery, cardiac valve procedures, heart transplant, coronary artery bypass graft surgery, and many more surgeries need surgical needles. These cardiovascular needles are of two types: single use or eyeless needles and multiple use or eyed needles. Cardiovascular needles are manufactured from new stainless-steel alloys containing high concentrations of nickel, Surgalloy and Ethalloy.

 Thus, the increasing prevalence of cardiovascular diseases are expected to create a significant demand for cardiovascular needle in the coming years, which is further anticipated to drive the cardiovascular needle market.

The outbreak has severely affected the medical tourism industry in Asia pacific and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure, restrictions imposed by hospitals to the suppliers, decreasing in demand of cardiovascular surgical instruments and others. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent the disease transmission. These restrictive measures are anticipated to impact the supply chain and the availability of medical devices in these countries. It has affected disposable incomes and has also resulted in unemployment. Furthermore, business strategies such as acquisitions, mergers, and partnerships are adversely affected by the imposition of complete lockdown. Such obstructions in business activities are projected to hamper the manufacturing and distribution of several cardiovascular surgical instruments. However, increasing vaccination across the region and availability of government reimbursement policies for various cardiovascular procedures is expected to normalize the situation in Asia Pacific region and will gradually increase the demand for cardiovascular needles.

Market Overview and Dynamics

The cardiovascular needle market in Asia Pacific is expected to grow from US$ 18,861.5 thousands in 2021 to US$ 31,968.6 thousands by 2028; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028. The prevalence of cardiovascular conditions is significantly rising in developing countries due to shift in lifestyle, and the modernization of commercial, industrial, and residential infrastructure; the modernized facilities result in reduced physical activities. On the other hand, stress levels continue to rise among people. Thus, these factors are driving the prevalence of cardiovascular conditions in developing countries. Further, these countries are significantly developing their healthcare facilities and services and are heading toward technological advancements. For instance, structural heart is in initial stages of development in Asia Pacific, the Middle East, and Africa. In India, Kim Hospital provides therapeutic services for structural heart disease. As per the study Global Burden of Disease in the Lancet, ~10 deaths across the world are associated with this disease, which is equivalent to ~6.4 million deaths. China, India, the US, and Russia collectively contributed ~50% to this number in 2015. Also, according to the statistic, the incidences of the structural heart disease is likely to increase in Asia in the coming years.

Key Market Segments

In terms of type, the round-bodied needles segment accounted for the largest share of the Asia Pacific cardiovascular needle market in 2020. In terms of application, the open-heart surgery segment accounted for the largest share of the Asia Pacific cardiovascular needle market in 2020. In terms of usage, the single use segment accounted for the largest share of the Asia Pacific cardiovascular needle market in 2020. In terms of end user, the hospitals and clinics segment accounted for the largest share of the Asia Pacific cardiovascular needle market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the cardiovascular needle market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Ethicon (Johnson & Johnson Services, Inc.), MANI, INC., Barber of Sheffield, FSSB surgical needles GmbH, Medtronic, Teleflex Incorporated, Meril Life Sciences Pvt. Ltd., Aurolab, CP Medical, and SMB Corporation of India.

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• To understand the Asia Pacific Cardiovascular needle market landscape and identify market segments that are most likely to guarantee a strong return
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific Cardiovascular needle market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Asia Pacific region.

Asia Pacific Cardiovascular Needle Market Segmentation            

By Application

• Open Heart Surgery
• Cardiac Valve Procedures

By Usage

• Single Use
• Multiple Uses

By End User

• Hospitals and Clinics
• Ambulatory Surgical Centres
• Cardiovascular Centres

By Country

• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific

Companies Mentioned

1. Ethicon (Johnson & Johnson Services, Inc.)              
2. MANI, INC              
3. Barber of Sheffield             
4. FSSB surgical needles GmbH          
5. Medtronic              
6. Teleflex Incorporated       
7. Meril Life Sciences Pvt. Ltd.             
8. CP Medical             
9. SMB Corporation of India
10. Aurolab

Asia Pacific Cardiovascular Needle Market Strategic Insights

Asia Pacific Cardiovascular Needle Market Report Highlights

Asia Pacific Cardiovascular Needle Market Country and Regional Insights