The new report states that instances of cardiac surgery will fall in the US, which represents the largest national market for this treatment, due to a growing preference for non-surgical options.
The US is the biggest market for cardiovascular surgery devices, due to factors such as an aging population and increasing numbers of patients with heart disease. However, the increasing adoption of alternative, minimally invasive treatment procedures threatens to negatively affect the growth of the cardiovascular surgery devices market in the future.
The popularity of percutaneous coronary intervention (PCI) and other minimally invasive interventions over surgical procedures is rising due to patient fears of post-surgery complications, healthcare struggles to meet strict budgets and a shortage of cardiac surgeons in the US.
Other factors such as a falling average selling price (ASP) and cost containment pressures in developed economies will also negatively affect the sale of cardiovascular surgery devices.
The US contributed $688m to the cardiovascular surgery devices market in 2010, accounting for 38% of the global market. This is forecast to decline at a CAGR of -1.6%, to reach a market value of $616.1m in 2017. The decline of its biggest customer means that, globally, the cardiovascular surgery devices market is forecast to decline to $1.6 billion by 2017.
The perfusion disposables market was the largest category in the global cardiovascular surgery devices market in 2010, accounting for a 79% share, but even this high-demand surgical device will not escape unscathed. Perfusion disposables alone will witness a drop in value of $100million over the next five years, spelling bad news for manufacturers all over the world, and reflecting the pessimistic tone overruling the broader market.