Interventional Cardiology and Peripheral Vascular Devices Market Expected To Remain the Largest Market during the Forecast Period Mainly Due To Its Well-built Healthcare Infrastructure and Continued Technological Advancements across Healthcare Industry
Increased elderly populations, increased prevalence of chronic diseases, changes in people's lifestyles, technological advances in devices, improved medical infrastructure in developing countries, minimally invasive procedures and increased patient awareness promote market growth. However, strict admission procedures for interventional cardiology and peripheral vascular devices are a major factor impeding market growth.
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Key players have adopted product development as their key strategy to cater to the changing needs of the industry. Major players operating in this market include
• Abbott Laboratories
• B. Braun Melsungen AG
• Boston Scientific Corporation
• C. R. Bard Inc.
• Cardinal Health Inc.
• Cook Medical Inc.
• Medtronic plc
• St. Jude Medical Inc.
• Terumo Corporation
• The Spectranetics Corporation.
As of 2015, Medtronic dominated the overall renal denervation market, followed by Abbott Laboratories and Boston Scientific Corporation.
The plaque correction device is expected to grow at an annual average rate of 13.7% from 2016 to 2022. Because it provides an effective alternative when the arterial dilator fails. In addition, plaque removal is important before stenting, which helps prevent arterial restenosis. Apart from this, the coronary arteries as well as the peripheral arteries will lead the market due to increased plaque formation and minimally invasive procedures.
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The Bioabsorbable stents system is expected to record a very high CAGR of 46.0% over the forecast period as this system is fully absorbed into the body and eliminates the possibility of restenosis. In addition, the bioabsorbable stent improves endothelial function, avoids blood loss, and restores normal vascular motion. This is not possible with bare metal stents. Thus, bioabsorbable stents will grow at a very high growth rate.
Key findings of the Interventional Cardiology and Peripheral Vascular Devices Market:
• On the basis of product type, angioplasty stents segment accounted for more than half of the total market in 2015.
• Plaque modification devices are expected to grow at high rate (with a CAGR of 13.7%) as use of these devices before stent implant decreases the chances of restenosis.
• North America accounted for more than one-third of the total market in 2015, and it is projected to lead the overall market in the forecast period.
• Asia-Pacific is expected to be the fastest growing region (with a CAGR of 10.4%) throughout the analysis period, owing to presence of ample growth opportunities in terms of unmet medical needs for the treatment of cardiac disorders in this region.
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