Turkey Cardiac Surgery Instruments Market Analysis

Turkey Cardiac Surgery Instruments Market Analysis


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Turkey's Cardiac Surgery Instruments Market is expected to witness growth from $17 Mn in 2022 to $29 Mn in 2030 with a CAGR of 7.10% for the forecasted year 2022-30. Turkish healthcare is of a high caliber, and it is less expensive than that of other nations, making it a common destination for medical tourists. This has increased demand for medical equipment, including instruments used in cardiac surgery, and is predicted to propel market expansion. The market is segmented by type, application, and end user. Some key players in this market include Ersamed Medikal, Acibadem Labmed, Megasan Medikal, LivaNova, B. Braun, Medline Industries, KLS Martin, and STILLE.

ID: IN10TRMD004 CATEGORY: Medical Devices GEOGRAPHY: Turkey AUTHOR: Jigyasu Bhandari

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Turkey Cardiac Surgery Instruments Healthcare Market Executive Analysis

Turkey's Cardiac Surgery Instruments Market is expected to witness growth from $17 Mn in 2022 to $29 Mn in 2030 with a CAGR of 7.10% for the forecasted year 2022-30. Turkey's total healthcare expenditure in 2020 was $13.7 billion, a 24.3% rise over the previous year. The overall increase in health spending was 26.3%, or $10.48 billion. The projected $2.70 billion in private healthcare expenditure represents a 17.3% increase. Compared to the private sector's 20.8% share of health spending in 2020, the federal government absorbed 79.2% of all costs.

In Turkey, the main cause of death is Cardiovascular Disease (CVD). Cardiovascular Diseases (CVDs) accounted for about 37% of all deaths in Turkey in 2019. In Turkey, Coronary Artery Disease (CAD), the most common type of heart disease that affects about 10% of the population, is responsible for over 60% of CVD deaths. Heart illness is frequently brought on by Rheumatic Heart Disease (RHD) in Turkey. Turkey is thought to have about 500,000 instances of RHD, with a prevalence rate of 0.7% of the total population. Congenital Heart Disease (CHD), a type of heart illness that is present at birth, affects 8 out of every 1,000 newborns in Turkey.

In Turkey, Essential cardiac surgery devices are among the equipment used in the diagnosis, care, and treatment of cardiac diseases. Heart diseases are identified and assessed in Turkey using cardiac surgery tools like echocardiography machines, electrocardiogram machines, and stress exams. With the aid of these tools, medical professionals can recognize structural and functional cardiac problems as well as monitor changes in the heart's performance over time. For minimally invasive procedures like percutaneous coronary intervention, which can be used to treat coronary artery blockages, specific tools are designed for cardiac surgery. Patients can benefit from these treatments by feeling less pain, spending less time in the hospital, and recovering more quickly. Additionally, cardiac surgery instruments are used during conventional open-heart surgery, which is still required in some cases. These instruments are used in procedures like valve replacement or surgery and coronary artery bypass grafting. Improvements in cardiac surgery tools have improved surgical outcomes for patients in Turkey. Devices like stents and artificial valves have been created to provide better long-term outcomes for patients with particular heart conditions.

Turkey Cardiac Surgery Instruments Market Analysis

Market Dynamics

Market Growth Drivers

Turkish healthcare is of a high calibre, and it is less expensive than that of other nations, making it a common destination for medical tourists. This has increased demand for medical equipment, including instruments used in cardiac surgery, and is predicted to propel market expansion. With a retiring populace, cardiac diseases are more common in Turkey. The demand for cardiac surgery instruments is anticipated to rise as the population ages, presenting possibilities for manufacturers. In Turkey, cardiac diseases are a significant public health issue due to their high incidence. As a result, there is a rise in demand for cardiac surgery tools and related medical devices, which presents opportunities for manufacturers to expand. The Turkish government has made significant investments in the healthcare industry, with an emphasis on raising the standard of care and expanding access to medical services. As a consequence, the demand for medical devices—including instruments for cardiac surgery—has increased. Technology advancements have resulted in the creation of new and better cardiac surgery instruments that are more productive, user-friendly, and effective. As a result, there is a higher demand for these products, which is propelling market expansion.

Market Restraints

In Turkey, the costs of instruments used in cardiac surgery are frequently expensive. In particular for patients and healthcare facilities with lesser incomes, this may limit the affordability and accessibility of these devices. This might reduce the demand for these products and slow the market's expansion in Turkey for tools used in cardiac surgery. The market for cardiac surgery instruments in Turkey is extremely fiercely competitive and many international manufacturers have already made their imprint there. New and local manufacturers may find it challenging to join the market and successfully compete as a result.

Competitive Landscape

Key Players

  • Ersamed Medikal (TR)
  • Acibadem Labmed (TR)
  • Megasan Medikal (TR)
  • LivaNova
  • B. Braun
  • KLS Martin
  • Medline Industries
  • STILLE

Healthcare Policies and Regulatory Landscape

Turkey has a developed healthcare infrastructure, and the government is deeply involved in regulating it, including the market for cardiac surgery instruments. To guarantee the protection and effectiveness of cardiac surgery instruments, Turkey has applied the Medical Devices Regulation (MDR) in agreement with the Medical Devices Regulation (MDR) of the European Union. The MDR outlines the stipulations for the development, production, and promotion of medical devices in Turkey. The market for devices used in cardiac surgery in Turkey is under the control of the Turkish Ministry of Health (MoH). For suppliers of equipment used in cardiac surgery, the MoH founds standards and rules and performs inspections to verify compliance. In Turkey, the selling and distribution of instruments used in cardiac surgery are governed by the Turkish Pharmacists Association (TPA). The TPA supervises the licensure and registration of sellers and distributors of cardiac surgery instruments, and it keeps an eye on their operations to make sure that laws are being followed.

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 Turkey 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

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

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The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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Last updated on: 12 February 2024
Updated by: Vidhi Upadhyay

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