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Interventional Cardiology Devices and Equipment Market Anticipates Strong Growth, Projected to Reach $21.73 Billion by 2028
Interventional Cardiology Devices And Equipment Market
The interventional cardiology devices and equipment market has exhibited robust growth, with a projected increase from $14.1 billion in 2023 to $15.48 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 9.8%. The market is poised for continued expansion, reaching an estimated $21.73 billion by 2028, driven by a CAGR of 8.8%.
Rising Prevalence of Cardiovascular Diseases Stimulates Market Growth
The growth of the interventional cardiology devices and equipment market is closely linked to the escalating prevalence of cardiovascular diseases. This category of health issues, encompassing heart-related ailments, circulatory system disorders, and blood vessel complications, has resulted in increased healthcare expenditure within the medical equipment market. According to the Centers for Disease Control and Prevention (CDC), heart diseases accounted for 697,000 deaths in 2020, and the World Health Organization (WHO) estimates project cardiovascular diseases to cause 23.6 million deaths by 2030.
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Surge in Minimally Invasive Procedures Drives Market Momentum
A significant driver for interventional cardiology devices and equipment market growth is the increasing adoption of minimally invasive procedures. These medical techniques involve small incisions, fine instruments, and advanced imaging technology for diagnosis, treatment, or surgery within the body. The interventional cardiology devices and equipment facilitate minimally invasive procedures in the heart, offering less risk and invasiveness compared to traditional open-heart surgery. The adoption of these procedures is evident in the noteworthy 18% increase, from approximately 1,594,000 to 1,875,000 surgical procedures, using a Vinci Surgical System in January 2023.
Technological Advancements Shape the Market Landscape
Technological advancements play a pivotal role in transforming the interventional cardiology devices market. Advanced devices now incorporate state-of-the-art imaging modalities such as Intravenous Ultrasound (IVUS), Fractional Flow Reserve (FFR), and Optical Coherence Tomography (OCT). The introduction of new drug therapies and devices, including guidewires and stents, has substantially altered the treatment landscape for cardiovascular diseases.
Innovative OPN NC Technology Sets New Standards
Key players in the interventional cardiology devices and equipment market are prioritizing innovative technological products, such as percutaneous transluminal coronary angioplasty (PTCA), to meet the growing demand for minimally invasive procedures in cardiovascular disease treatment. The OPN NC PTCA dilatation catheter with Twin-Wall technology, launched by SIS Medical AG, stands out as a next-generation balloon catheter designed for superior performance in challenging coronary lesions. This innovative product holds the potential to enhance outcomes for patients with coronary artery disease.
Regional Dynamics and Market Segmentation
In 2023, North America emerged as the largest region in the global interventional cardiology devices and equipment market, followed by Western Europe.
The interventional cardiology devices and equipment market covered in this report is segmented -
1) By Type: Angioplasty Balloons, Angioplasty Stents, Catheters, Plaque Modification Devices, Other Interventional Cardiology Devices
2) By Age Group: New-born (0-30 days), Infant (31 days-1 year), Children (1-18 years), Adult (18+ years)
3) By Application: Hospitals, Clinics, Cardiac Catheterization Labs, Ambulatory Surgical Centers
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Interventional Cardiology Devices And Equipment Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Interventional Cardiology Devices And Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on interventional cardiology devices and equipment market size, interventional cardiology devices and equipment market drivers and trends, interventional cardiology devices and equipment market major players, interventional cardiology devices and equipment market competitors' revenues, interventional cardiology devices and equipment market positioning, and interventional cardiology devices and equipment market growth across geographies. The interventional cardiology devices and equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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