Cardiovascular Needle Market Size, Share & Trends Analysis Report By Type (Round-bodied needles, Cutting needles), By Application (Open heart surgery, Cardiac valve procedures), By Usage (Single use, Multiple uses), By End User (End user, Hospitals & clinics, Ambulatory surgical centers, Cardiovascular centers) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global cardiovascular needle market size was valued at USD 87.30 million in 2021, and is projected to reach USD 164.32 million by 2030, registering a CAGR of 7.28% from 2022 to 2030. The expansion of the cardiovascular needles market can be attributed to factors such as the rising prevalence of cardiovascular diseases and the aging population. However, the preference for surgical staples over cardiovascular needles will likely harm the market. Cardiovascular needles are utilized during open-heart surgeries, cardiac valve procedures, heart transplantation procedures, and coronary artery bypass graft surgeries. These needles come in two varieties: single-use, or needles without eyes, and multiple-use, or needles with eyes. New stainless-steel alloys with high concentrations of nickel, Surgalloy, and Ethalloy are used to manufacture cardiovascular needles.

Cardiovascular diseases (CVDs) are conditions of the heart and blood vessels and include diseases such as rheumatic heart disease, coronary heart disorder, and cerebrovascular disease. An unhealthy diet, Tobacco use, and absence of physical activity, which increase the risk of heart attacks and strokes, are among the most critical lifestyle factors that lead to CVDs. Also contributing to these diseases are hypertension, diabetes, and elevated cholesterol levels. CVDs are one of the top 10 causes of death worldwide. as per the World Health Organization (WHO), cardiovascular diseases are the leading global cause of death. Cardiovascular diseases (CVDs) will likely remain the leading cause of morbidity and mortality. Approximately 85 percent of these deaths were attributable to heart attacks and strokes. The accumulation of fat around blood vessels, which restricts blood flow to the heart or brain, is the top cause of heart attack and stroke. Strokes can also be caused by bleeding vessels or blood clots in the brain.

Market Dynamics

Global Cardiovascular Needle Market Drivers

Demand for items with excellent penetrability

One of the primary elements pushing the market for cardiovascular needles is the rising demand for products with superior penetrating capabilities to fulfill cardiac and vascular surgery prerequisites. The growing incidence of cardiovascular disorders worldwide is a significant trend that is one of the market participants' primary drivers of growth opportunities. They have been considered the primary reason for the decline in health, particularly in the elderly, and the primary reason for the decrease in mortality among young adults worldwide. The high management cost has posed a high burden, particularly for patients from low-income and middle-income countries. The patients' discomfort has resulted in a shorter amount of time spent in the operating room due to the high operating-suite time.

Increasing Incidence of Cardiovascular Conditions

Cardiovascular diseases (CVDs) are heart and blood artery abnormalities and include conditions such as cerebrovascular disease, coronary heart disease, and rheumatic heart disease. Tobacco use, a poor diet, and lack of physical activity, all of which raise the chance of heart strokes and attacks, are among the critical lifestyle factors that lead to CVDs. Also contributing to these disorders include hypertension, diabetes, and elevated cholesterol levels. CVDs are one of the top 10 causes of death worldwide. According to the World Health Organization (WHO), cardiovascular illnesses are the leading global cause of mortality. Cardiovascular diseases (CVDs) will likely remain the leading cause of morbidity and mortality. According to WHO figures, 17.9 million people worldwide died from CVDs in 2016, accounting for 31.0 percent of the global death toll for that year. Approximately 85 percent of these deaths were attributable to heart attacks and strokes. The accumulation of fat around blood vessels, which restricts blood flow to the heart or brain, is the leading reason for heart stroke and attack. Strokes can also be caused by bleeding vessels or blood clots in the brain.

Global Cardiovascular Needle Market Restraints

Increase in surgical staple usage

It is anticipated that expanding the market for surgical staples, as opposed to needles and sutures will hinder the growth of the needle market for cardiovascular procedures. This is because surgical staples are less invasive than needles and sutures. This is because surgical staples are less invasive than needles and sutures when performing a surgical procedure. However, many new entrants and small businesses relatively new to the industry can be a barrier to expanding the cardiovascular needles market. New entrants and small businesses are relatively new to the industry.

Global Cardiovascular Needle Market Opportunities

The utilization of novel materials and styles

Using novel materials and designs has paved the way for developing cutting-edge technologies, which has enhanced the possibilities of the market for cardiovascular needles. For instance, recently introduced medical technology has helped reduce blood loss through needle holes in vascular anastomoses. The development of new materials has made it possible to create needles that are very sharp, resistant to bending, and ductile; these characteristics contribute to improving the performance of the devices used in different cardiovascular functions. The upgrade in the market for cardiovascular needles in hospitals and clinics is anticipated to result in significant revenue gains for market participants operating in the industry.

Regional Analysis

The U.S. of America and Canada make up what is known as the North American region. Latin America comprises Mexico and Brazil. Germany, Italy, France, England, and Spain, along with the Nordic countries and B.E.N.E.L.U.X., make up the Western European region. Poland, Russia, and the other countries that make up the rest of Eastern Europe make up the Eastern European region. India, China, the Association of Southeast Asian Nations (ASEAN), Australia, and New Zealand are all in the Asia Pacific region. The Gulf Cooperation Council, South Africa, North Africa, and the Rest of the Middle East and Africa make up the region known as the Middle East and Africa.

In terms of geographic region, the North American region is expected to hold a preponderant stake in the international cardiovascular needle market over the next few years. This is primarily attributable to the number of older people in the region, the development of more advanced medical facilities, and an increase in the average lifespan. In addition, the development of cutting-edge technologies such as laser-drilled cardiovascular needles are predicted to play an essential role in fueling the market demand over the forecast period. After the market in North America, the next largest is in Europe, followed by the Asia-Pacific region. Regarding the worldwide need for cardiovascular needles, Europe and the Asia Pacific jointly hold the second-largest position.

Segmental Analysis

The market for cardiovascular needles is divided into round-bodied needles and cutting needles, according to the type of needles. The market segment for round-bodied hands is expected to account for a more significant market share in 2021. However, the part of the market for cutting needles is predicted to record a higher CAGR in the market over the course of the forecast period. The global market for needles can be broken down into two primary categories, round-bodied needles and cutting needles, depending on the product sold. Taper point needles and blunt point needles are included in the round-bodied needles. The cutting needles have both regular and reverse needles in their collective make-up.

The market for cardiovascular needles is divided into single-use and multiple uses, determined by how often the needles are used. It is anticipated that the single-use category will account for a more significant portion of the market in 2021. It is expected that the need for this sector will expand at a faster CAGR between the years 2021 and 2028. Single-use needles, also known as eyeless needles, and multiple-use needles, often known as eyed needles, are the two primary subsets that make up the global cardiovascular needle market. In terms of usage, it is anticipated that the sector of single-use needles would have a larger share than any other section. This is due to the increasing number of outpatient treatments and the growing awareness of infectious diseases.

Open-heart surgery, cardiac valve operations, coronary artery bypass graft, heart transplant surgery, and other applications are the basis for the global market's categorization into several submarkets. The open-heart surgery and cardiac valve operations submarkets constitute the majority of the open-heart surgery sector of the cardiovascular needle industry. In 2021, it was anticipated that the open-heart surgery sector would occupy a more significant proportion of the market. This segment will register a higher CAGR in the market between 2022 and 2030. The rising number of open-heart procedures performed worldwide is mainly responsible for expanding the open-heart surgery market.

The market for cardiovascular needles is divided into hospitals and clinics, ambulatory surgery centers, and cardiovascular centers, based on the type of organization that buys the needles. It is anticipated that the hospitals and clinics category will occupy the most significant cardiovascular needles market share in 2021. It is also expected to achieve the highest CAGR in the market over the period covered by the research. Ambulatory surgery centers and Hospitals are the two main categories that comprise the hospital segment of the global market for cardiovascular needles. Because of the growing number of ongoing cardiovascular treatments, it is anticipated that the hospital sector will account for a notable amount of the overall market for end users.

Impact of covid-19

The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.

South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.

The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.

Recent Developments

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• In June 2022, SMB Corporation of India, Fascinating presentations at the COMPAMED Innovation Forum 2022: How medical technology combats neurological disorders.