Interventional Cardiology Market Overview:
Interventional Cardiology Market Size held a value of USD 15,130.75 Million in 2018 and Interventional Cardiology Market is expected to register a CAGR of 7.25% during the assessment period.
Top Drivers and Challenges:
Cardiac disorder remains one of the significant reasons behind the soaring number of deaths worldwide. The World Health Organization reveals that annually, CVDs or cardiovascular diseases claim around 17.9 million lives across the globe. Surging cases of arrhythmias as well as heart failures have fostered the demand for highly advanced interventional cardiology devices. A prominent trend rapidly emerging in the global market include the augmented preference for bioresorbable stents in the healthcare industry.
Increasing life expectancy along with frequent technological advances will ensure that interventional cardiology notes sustained demand throughout the review timeframe. Factors including rising prevalence of unhealthy lifestyle, innovations in cardiac devices, mounting awareness and the accelerated number of healthcare programs should further enhance the market size. Underdeveloped regions have vast unmet medical requirements, which can be a striking opportunity for global manufacturers in the market. Favorable insurance scenario encourages patients to opt for treatment, especially in countries like Canada, US, and the UK, and could be favorable for the worldwide industry in subsequent years.
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Interventional Cardiology Market Top Companies:
Terumo Corporation (Japan), L. Gore & Associates, Inc. (US), ACIST Medical Systems, Inc. (US), BD (US), Biosense Webster, Inc (US), Edwards Lifesciences Corporation (US), ABIOMED (US), Boston Scientific Corporation (US), Cook Medical (US), Koninklijke Philips N.V. (Netherlands), Abbott (US), Life Vascular Devices Biotech S.L. (Spain), Medtronic (Ireland), Merit Medical Systems, Inc (US), GE Healthcare (US), Biotronik SE & Co. KG (Germany), Braun Melsungen AG (Germany), Cardinal Health (US) are identified as the top firms in the interventional cardiology industry.
Interventional Cardiology Market Segmental Analysis:
Type and end-user are the major segments considered in the MRFR report, to present a detailed outline of the global market.
Types of interventional cardiology include stents (Bare Metal Stents, Bioresorbable Vascular Scaffolds and Drug-Eluting Stents), Percutaneous Transluminal Coronary Angioplasty Catheters (Balloon Catheters as well as Guiding Catheters), Plaque Modification Devices, Coronary Guidewires, and accessories.
The top end-users in the global market are Cardiac Catheterization Laboratories, Hospitals, Ambulatory Surgical Centers, and more. Escalating number of ambulatory surgical centers and the growing awareness about the benefits of conducting cardiovascular procedures in this setting can push the demand for the segment in the years to come. However, hospitals form the biggest segment in the market, given the rising success rate of the procedures carried out in hospitals. Around 200,000 cardiac arrests take place annually in hospitals, while 25 percent of these patients are able to survive in hospital settings, in view of the constantly available medical staff and facilities.
Interventional Cardiology Market Regional Overview:
The regional study of the interventional cardiology industry comprises Europe, Asia Pacific or APAC, the Americas and MEA or Middle East and Africa.
Americas has landed the leading spot in the global market as the region is witnessing a spike in the number of coronary disorders. Percutaneous coronary intervention is a common medical procedure carried out in the region, aimed at patients suffering from coronary artery disease. The escalating demand for interventional cardiology can be accredited to the sizeable investments made by major manufacturers in the region, trying to widen their customer base. Additionally, the rapidly burgeoning cardiac patient pool, sophisticated healthcare system, and the extensive adoption of state-of-the-art healthcare technologies within the cardiac field will also warrant significant gains for the American market over the following years.
Europe is the second highest revenue generating market, due to the government spending substantially on the development and upgradation of the healthcare industry. Noteworthy increase in the number of research & development activities, growth in cardiac surgeries amidst the evolving lifestyle of the mass is anticipated to benefit the European industry in the years ahead.
APAC is bound to make progress at the fastest pace during the given period, on account of the escalation in the cases of cardiac ailments as well as the surging expenditure aimed at improving the healthcare infrastructure. Burgeoning geriatric patient pool and the rising emphasis on business expansion among the regional players also strengthens the APAC market’s position.
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