Interventional Vascular Consumables Market Latest Trends and Business Scenario 2030 | P&S Intelligence

Chronic and acute circulatory illnesses are on the rise. According to the WHO, roughly, 17.9 million people die each year from CVDs, accounting for 32.0% of all the fatalities worldwide, including 655,000 in the U.S. alone. In fact, CVDs kill one out of every three women. Furthermore, people of various ages, nationalities, and socioeconomic levels are affected. The rising number of such chronic disease cases throughout the world is raising the need for interventional vascular operations.

In addition, the requirement for minimally invasive operations is increasing among the elderly since they are less uncomfortable, low-risk, and cost-effective and allow for a speedier recovery than open surgeries. Therefore, consumables such as catheters, embolic protection devices, and guidewires are in high requirement. Among these, the need for catheters is expected to rise significantly in the coming years. This is due to catheters' higher pricing relative to certain other consumables, their more-frequent usage, and the availability of many types of catheters.

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Essentially, the interventional vascular consumables requirement is surging as a result of rising healthcare costs, early acceptance of interventional radiology techniques in developed nations, and the robust supply chains of medical device behemoths. As per P&S Intelligence, the global interventional vascular consumables market is expected to earn $5,501.7 million in revenue by 2030 compared to an estimated $3,929.2 million in 2021 growing with a CAGR of 3.8% from 2021 to 2030 as a result of the aforementioned causes.

Of the two types of such products used during interventional vascular procedures, those of the coronary type witness the higher sales, and they are expected to continue to do so over the decade. Procedures such as coronary angioplasty and percutaneous coronary intervention (PCI) are used to open blocked or restricted arteries connected to the heart during coronary vascular operations, in order to reduce the chances of or treat a heart attack. Because of the increasing incidence of coronary artery disease and the growing senior population, which chooses minimally invasive treatments over open surgery, the volume of coronary vessel procedures continues to increase.

Similarly, often, the blood vessels in the lungs can get blocked by an embolus. Therefore, an IVC filter, which is a type of vascular filter, is placed by interventional radiologists in the IVC to prevent blood clots from traveling with the blood into the lungs and causing a pulmonary embolism. Even though the condition arises in the pulmonary arteries, stopping the clot from passing through the IVC is important, in order to stop it from traveling through the chambers of the heart into the pulmonary artery.

In addition to the aforementioned characteristics, the North American interventional vascular consumables market benefits from a robust supply chain, credited to the existence of multiple established product manufacturers. Furthermore, the increasing healthcare spending in the continent is assisting in this regard by making healthcare more accessible to the general public. Around the world, the spending of the U.S. on healthcare as a percentage of its GDP is the highest. This is also why key medical consumables companies continue to merge with and acquire similar firms.

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For instance, Intact Vascular Inc., a U.S.-based manufacturer of medical equipment for minimally invasive peripheral vascular operations, reached a deal to be purchased by Koninklijke Philips N.V. (Philips) in August 2020. Phillips' image-guided therapy portfolio expanded by the merger of its interventional imaging platform, diagnostic, and therapeutic devices with the implantable devices of Intact Vascular Inc., with the aim to improve the treatment of people with peripheral artery disease.

Hence, the increase in the prevalence of CVDs, especially coronary artery disease and pulmonary embolism, are driving the interventional vascular consumables' need.

Browse more reports:

Catheter Market Report - https://www.psmarketresearch.com/press-release/catheter-industry-analysis

Peripheral I.V. Catheter Market Report - https://www.psmarketresearch.com/press-release/global-peripheral-iv-catheter-market

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