subject: Cardiovascular Surgery Devices - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016 [print this page] The global market for cardiovascular surgery devices was valued at $2 billion in 2009, and is forecast to grow at a Compound Annual Growth Rate (CAGR) of 3% to reach $2.4 billion in 2016. The market is expected to be driven by patient population suffering from Coronary Artery Disease (CAD) and their increased awareness and safety of cardiovascular surgery over Percutaneous Coronary Intervention (PCI) in some cases, such as three vessel coronary artery disease.
In 2009, in the US, the prevalence of CAD was about 6.5%. In 2009, in Western Europe, the prevalence of CAD was about 5%. In the UK, CAD currently affects about three million people. Coronary artery disease is the leading cause of death globally. It is expected to account for about 14% of all deaths by 2030. Globally, the proportion of deaths attributed to CAD is expected to grow by 2% annually for the next two decades.
Emerging economies such as India are expected to drive the growth in the cardiovascular surgery devices market. The cardiovascular surgery devices market in India was valued at $92m in 2009 and is forecast to grow at a CAGR of 15% to reach $251.6m in 2016. The market is expected to be driven by patient demographics and growth in medical tourism due to low cost of Cornoary Artery Bypass Graft (CABG) surgery in India compared to developed economies. In India, the incidence of CAD is about 10%. According to the World Health Organization (WHO) estimates about 60% of the world's cardiac patients will be Indian by 2010. Healthcare insurance companies in developed economies are encouraging patients to get treatment in emerging economies, boosting growth in the market.
The market is expected to be driven by cost effectiveness, less invasive approach and high patient and safety of beating heart surgery compared to traditional Cardiopulmonary (CPB) surgery. Being less invasive than CPB surgery, beating heart surgery is cost effective due to shorter hospital stays. Beating heart surgery eliminates the need for heart-lung machines, saving significant costs and involving less blood loss and decreased inflammatory response.
GlobalData's new report, "Cardiovascular Surgery Devices - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016" provides key data, information and analysis on the global cardiovascular surgery devices market. The report provides market landscape, competitive landscape and market trends information the cardiovascular surgery devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData's team of industry experts.
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