Global Interventional Cardiology Devices Market to Reach US$11.2 bn by 2022 due to Rising Occurrence of Coronary Artery Disease

A new Transparency Market Research report states that the global interventional cardiology devices market pegged at US$8.7 bn in 2013 is predicted to reach US$11.2 bn by 2022, expanding at a CAGR of 2.90% from 2013 to 2022.

Interventional cardiology devices comprise numerous non-surgical procedures for the treatment of cardiovascular diseases. Interventional cardiologists use catheters to penetrate blood vessels to carry out diagnostic tests or to repair the damaged vessels or heart structures, often eliminating the requirement for surgery. These devices are majorly utilized for the treatment of heart valve disease, coronary artery disease, and peripheral vascular disease. Owing to the minimally invasive nature of interventional cardiology, this type of surgery provides advantages such as reduced cost, shorter stay at hospitals, minimal incision, and shorter recovery time.

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As stated in the report, the rising occurrence of coronary artery disease and the increasing demand for minimally invasive surgeries are amongst the major factors fuelling the growth of the market for interventional cardiology devices. In addition, the increasing rate of obesity and the expanding geriatric population base will stimulate the growth of the market. The plethora of new imaging technologies being developed will improve the percutaneous coronary interventions’ (PCIs) diagnosis rate, hence fuelling the growth of the market. The growing usage of bio-absorbable stents as suitable substitutes to drug eluting stents and the rise of the market in emerging nations are the key growth opportunities in the market. On the other hand, the absence of supportive reimbursement systems in some of the emerging economies and the sluggish rise in the number of PCIs are amongst the chief factors impeding the growth of the market.

On the basis of device type, the market is segmented into stents, catheters, imaging systems, PTCA balloons, percutaneous transluminal coronary angioplasty guidewires, and others. Stents are further segmented into bare metal stents, bio-absorbable stents, and drug-eluting stents. Catheters are further segmented into angiography catheters, guiding catheters, pulmonary artery catheters, and intravascular ultrasound (IVUS) catheters. PTCA balloons are further segmented into cutting balloons, normal balloons, drug-eluting balloons, and scoring balloons. Imaging systems are further segmented into intravascular ultrasound (IVUS), optical coherence tomography (OCT), and fractional flow reserve (FFR). Amongst these, the segment of stents led the market in 2013. Within this segment, drug eluting stents held the largest share in the market in 2014 and are predicted to maintain their superiority throughout the forecast horizon. The segment of normal balloons led the PTCA balloons market and is predicted to maintain its dominance through the forecast horizon.

In terms of geography, the report segments the market into Europe, North America, Latin America (LATAM), Asia Pacific, the Middle East and North Africa (MENA), and Rest of the World (RoW). Amongst these, the North America interventional cardiology devices market held the largest share and was trailed by Europe. The reason for the superiority of North America is the continuous usage of premium priced drug eluting stents and the increasing occurrence of cardiovascular diseases in this region. Asia Pacific trailed Europe and held the third-largest share in the market owing to the enhancement of healthcare infrastructure and the increasing aging population here.

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As per the report, the key players operating in the market are B. Braun Melsungen AG, Abbott Laboratories, Inc., Boston Scientific Corporation, Cordis Corporation, Cook Medical, Medtronic, plc., and Smiths Medical, among others.

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This release was published on openPR.