Spain Cardiac Surgery Instruments Market Report 2022 to 2030

Spain Cardiac Surgery Instruments Market Analysis

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The Spain Cardiac Surgery Instruments Market is expected to witness growth from $40 Mn in 2022 to $62 Mn in 2030 with a CAGR of 5.60% for the forecasted year 2022-2030. In Spain, more people can now afford better healthcare services, such as cardiac surgeries, attributed to increasing disposable income. This has led to a rise in the demand for cardiac surgery equipment, opening up business possibilities for manufacturers. The market is segmented by type, application and by end user. Some key players in this market include Medlumics, Devicare, Ekuore, LivaNova, B. Braun, Medline Industries, KLS Martin, and STILLE.

ID: IN10ESMD004 CATEGORY: Medical Devices GEOGRAPHY: Spain AUTHOR: Jigyasu Bhandari

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Spain Cardiac Surgery Instruments Healthcare Market Executive Analysis

The Spain Cardiac Surgery Instruments Market size is at around $40 Mn in 2022 and is projected to reach $62 Mn in 2030, exhibiting a CAGR of 5.60% during the forecast period. Public healthcare in Spain costs $96.46 billion annually or about $2,037.04 per resident. Of that, prescription medication costs account for about $13.25 billion. An additional $34.72 billion (or $733.85 per resident) is added to the sum each year for private healthcare. Thus, the annual cost of Spain's healthcare infrastructure is $131.17 billion.

Spain's number one cause of mortality is Cardiovascular Disease (CVD), which is a serious public health concern. About 5.5% of Spanish people have coronary heart disease, a form of CVD that affects the blood vessels that supply the heart. This is equivalent to about 2.5 million individuals. About 2.5% of Spanish suffer from heart failure, a condition in which the heart is unable to efficiently pump blood. This is equivalent to about 1.1 million individuals. Atrial fibrillation, a prevalent type of arrhythmia, occurred 6.7 times per 1,000 person-years in Spain. Around 2-3% of Spanish have valvular heart disease, and 8 out of every 1,000 live newborns have congenital heart disease.

The specialized tools and equipment used by cardiac surgeons during different cardiac surgeries are known as cardiac surgery instruments. A form of cardiac surgery called coronary artery bypass grafting is used to treat blocked or congested coronary arteries. In Spain, this procedure is carried out using cardiac surgery tools like heart-lung machines, coronary artery forceps, and bypass grafting instruments. A sort of cardiac surgery called valve replacement surgery is performed to replace diseased heart valves. In Spain, this procedure is carried out using cardiac surgery tools like valve retractors, valve dilators, and valve clamps. The main blood vessel that transports blood from the heart to the rest of the body, the aorta, can enlarge and rupture due to a disease known as an aortic aneurysm. In Spain, aortic aneurysms are repaired using cardiac surgical tools like aortic punches, vascular clamps, and aortic clamps.

Spain Cardiac Surgery Instruments Market Analysis

Market Dynamics

Market Growth Drivers

In Spain, more people can now afford better healthcare services, such as cardiac surgeries, attributed to increasing disposable income. This has led to a rise in the demand for cardiac surgery equipment, opening up business possibilities for manufacturers. Spain's populace is ageing, with a rising proportion of those over 65. Due to their higher risk of cardiovascular diseases, this group has a greater need for heart surgery equipment. The market is expected to grow for producers who can appeal to this group. More sophisticated and cutting-edge cardiac surgery instruments have been created as a consequence of technological advancements. Because of this, surgical procedures are now more effective, which leads to quicker recovery times and improved patient outcomes. The market will probably grow for manufacturers who can remain ahead of the curve in terms of technological developments.

Market Restraints

In Spain, due to the specialized materials and technology they require, instruments for cardiac surgery can be expensive to make and develop. It might be difficult for producers to compete with larger firms that have more resources and access to economies of scale. Due to their restricted access to funding for research and development, smaller manufacturers may find it difficult to innovate and develop new goods. As a result, they might be limited in their ability to grow their businesses and participate in aggressive cardiac surgery tool sales in Spain.

Competitive Landscape

Key Players

Medlumics (ES)
Devicare (ES)
Ekuore (ES)
LivaNova
B. Braun
KLS Martin
Medline Industries
STILLE

Healthcare Policies and Regulatory Landscape

The regulatory body in charge of ensuring that cardiac surgery instruments are efficient and secure for use in Spain is the Spanish Agency of Medicines and Medical Devices (AEMPS). The AEMPS is subject to limitations imposed by European Union (EU) regulations, which also outline particular performance and safety standards for cardiac surgery equipment. In the EU, two new regulations for equipment used in heart surgery—the Medical Device Regulation (MDR) and the In Vitro Diagnostic Regulation (IVDR) —went into force. The MDR and IVDR, which have been enacted gradually, both have a May 2022 compliance deadline.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Cardiac Surgery Instruments Market Segmentation

By Type (Revenue, USD Billion):

The market is divided into segments in this study based on the goods, applications, end users, and geographical areas. The market is divided into forceps, scissors, needle holders, clamps, and other cardiac surgery instruments based on the product. In 2017 the forceps category led the market, and it is anticipated that it will increase at the fastest rate going forward. The rise in heart surgeries and the frequent usage of forceps in most cardiac procedures are credited with the segment's strong growth.

Forceps
Vascular Forceps
Grasping Forceps
Other Forceps
Needle Holders
Scissors
Clamps
Other Cardiac Surgical Instruments

By Application (Revenue, USD Billion):

The market is further segmented by application into paediatric cardiac surgery, heart valve surgery, coronary artery bypass graft (CABG), and other applications. The Spain market's largest and fastest-growing application segment is CABG. This is mostly explained by the increased prevalence of heart illnesses and the consequent rise in surgical treatments. The second-largest category is heart valve surgery.

Coronary Artery Bypass Graft (CABG)
Heart Valve Surgery
Pediatric Cardiac Surgery
Other Applications

By End User (Revenue, USD Billion):

Based on the end user, the market is segmented into hospitals and cardiac centers, and ambulatory surgery centers. The hospitals and cardiac centers segment is expected to dominate the market for cardiac surgery instruments. Growth in this end-user segment can be attributed to the increasing incidence of cardiac and heart valve diseases and the subsequent increase in the number of cardiac surgery procedures.

Hospitals and Cardiac Centers
Ambulatory Surgery Centers

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.