Cardiovascular Needle Market is expected to reach US$ 137.855 Million by 2028

Cardiovascular Needle Market for Cutting Needles to Grow at Higher CAGR During 2021–2028

According to our new market research study on “Cardiovascular Needle Market to 2028 – Global Analysis and Forecast – by type, application, usage, and end user,” the market is expected to reach US$ 84.429 million in 2021 and is projected to reach US$ 137.855 million by 2028; it is expected to grow at a CAGR of 7.3% from 2021 to 2028. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.      

• Based on type, the cardiovascular needle market is segmented into round-bodied needles and cutting needles. The round-bodied needles segment would account for a larger market share in 2021, and the cutting needles segment is anticipated to register a higher CAGR in the market during the forecast period.
• Based on application, the cardiovascular needle market is segmented into open heart surgery and cardiac valve procedures. The open-heart surgery segment is expected to hold a larger share of the market in 2021, and it is estimated to register a higher CAGR in the market during 2021–2028. Growth of the open-heart surgery segment is attributed to the increasing open-heart surgeries across the globe.
• Based on usage, the cardiovascular needle market is segmented into single use and multiple use. The single use segment is estimated to account for a larger market share in 2021. The market for this segment is estimated to grow at a higher CAGR from 2021 to 2028.
• Based on end user, the cardiovascular needle market is segmented into hospitals and clinics, ambulatory surgical centers, and cardiovascular centers. The hospitals and clinics segment would hold the largest share of the market in 2021; it is further estimated to register the highest CAGR in the market during the forecast period.

The COVID-19 pandemic has become the most significant challenge across the world. As this pandemic has stressed healthcare systems across the globe, prioritizing the limited resources was essential to minimize hospital admissions.  Cardiac surgical patients not only require vital ICU resources but are also potentially in the highest risk category of complications of COVID-19. Hence, most of the hospitals and surgical enters has considered to cancel or postponed elective surgeries including cardiovascular surgeries. Hence impact of COVID 19 is expected to be somewhat negative on cardiovascular needle market in short run. However, in long run, as the vaccination schedule will establishes and transmission rate decreases, healthcare systems will return to normal and will have increased demand for cardiovascular needle, which will support the market.    

Ethicon (Johnson & Johnson Services, Inc.), Mani, Inc., Barber of Sheffield, FSSB surgical needles GmbH, Medtronic, Aurolab., Teleflex Incorporated., Meril Life Sciences Pvt. Ltd., CP Medical., and SMB Corporation of India are among the leading companies operating in the cardiovascular needle market.  

Cardiovascular Needle Market, by Region, 2021 (%)