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Interventional Cardiology Devices Market to top a Valuation Of USD 40.4 Billion by The end Of 2031 | Cardinal Health (US), iVascular (Spain), B. Braun Melsungen (Germany)
Interventional Cardiology Devices Market
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Catheters are used in interventional cardiology to treat heart conditions. The procedure involves introducing a device, such as a balloon, stent, catheter, or another device, into the femoral artery or any other significant peripheral artery or vein, followed by the cannulation of the heart with the use of an X-ray. Additionally, a range of interventional cardiology tools is used to treat peripheral vascular issues that have an impact on the circulatory system and can result in the buildup of plaque in the arteries of the limbs. Some of the commercially available interventional cardiology devices include catheters, balloons, stents, and filters.
Market Trends and Drivers
The most prevalent form of heart disease in the US, coronary artery disease (CAD), claimed 365,914 lives in 2017, according to the Centers for Disease Control and Prevention (CDC). Additionally, according to the CDC's estimations, 18.2 million Americans over the age of 20 currently have CAD. The British Heart Foundation estimates that 2.3 million persons in the UK had CAD as of June 2020. In the UK, heart and circulatory illnesses cause 170,000 deaths annually. The need for interventional cardiology devices is anticipated to rise in the upcoming years due to the enormous patient population and the high mortality rate.
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The need for interventional cardiology equipment is also fueled by risk factors including diabetes and hypertension. Diabetes increases the likelihood of developing additional disorders that increase the risk of coronary heart disease. High blood sugar levels over time might harm the heart's blood vessels. The International Diabetes Federation (IDF) projects that there will be 700 million individuals with diabetes worldwide by 2045, up from 463 million in 2019. Every year, 1.5 million people in the US alone are given a diabetes diagnosis [Source: American Diabetes Association (ADA)]. The rise in the number of elderly people can be partly blamed for the rise in diabetes prevalence.
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Global Interventional Cardiology Devices Market Segmentation
By Type
Angioplasty Balloons
Angioplasty Stents
Structural Heart Devices
Catheters
Plaque Modification Devices
Hemodynamic Flow Alteration Devices
Others
By End User
Hospitals
Ambulatory Surgical Centers
Others
Major Players in the Global Interventional Cardiology Devices Market
The key players studied in the report are Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), Edward Lifesciences Corporation (US), Cardinal Health (US), iVascular (Spain), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Biosensors International Group (Singapore), and BIOTRONIK SE & Co. KG (Germany) among others.
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COVID-19 Impact
The COVID-19 outbreak has had an effect on the market for interventional cardiology equipment as well as other areas of the medical device business globally. Despite the availability of emergency and outpatient department (OPD) services in cardiology departments, the number of patient visits to hospitals has decreased dramatically over the last six months. Patient visits have dramatically decreased as a result of widespread lockdowns and social isolation policies. The sales of interventional cardiology goods have been further decreased as a result. Many of the industry's top companies, including Boston Scientific, Medtronic, and Abbott, have reported declining revenues for the second and third quarters of 2020.
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