Interventional Cardiology & Peripheral Vascular Devices Market
Interventional cardiology & peripheral vascular devices market size should foresee substantial growth due to growing ageing population and amplified prevalence of heart disorders over the last few decades. Rising need for minimally invasive procedures and increasing technological advancement will drive the business size. According to American College of Cardiology, cardiovascular disease accounts for around 31% of all deaths globally and the projected cost of CVD will be USD 1,044 billion by 2030. Coronary heart disease accounts for most cardiovascular deaths, followed by stroke and heart failure.
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Interventional cardiology is a subspecialty of cardiology that practices intravascular catheter-based methods with fluoroscopy to treat valvular, coronary artery and congenital cardiac disease. The peripheral vascular device offers systematic circulation of blood, removes the plaque and restore the flow of blood through the artery.
Increasing global prevalence of chronic disorders due to sedentary lifestyle, unhealthy dietary habits and lack of physical activity will increase the number of procedures performed. Growing tobacco usage globally, smoking, including secondhand smoke, accounting for an estimated 6.3 million deaths worldwide will fuel the industry growth. Prohibitive cost associated with the treatment and stringent government policies in developed and developing economies may hamper the interventional cardiology & peripheral vascular devices market growth.
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Interventional catheters market will grow at a significant rate due to added advantages over the other methods like less invasiveness than traditional surgery. Factors like requirement of only one small incision for insertion of the catheter, no requirement of general anesthesia and short timeframe will propel the business share. Angioplasty segment will account for the largest market share over the forecast period owing to introduction of novel technological and no side effects like plaque build-up or vessel collapse. Coronary thrombectomy will grow at a substantial rate pertaining to increasing prevalence of heart attack and rising need for procedure that needs small incision in a blood vessel.
Hospitals segment will witness for major revenue share due to availability of advanced technologies for disease treatment. Furthermore, availability of skilled professional coupled with low cost associated with treatment in hospital will boost the business size.
U.S. will witness significant growth over the forecast period due to presence of strong industry players like Abbott, C. R. brad and B. Braun offering quality products and availability of large patient base. As per American Heart Association and American Stroke Association 2017 statistics, cardiovascular disease, is recorded as the underlying cause of death, which accounts for approximately 801,000 deaths in the U.S. and about 92.1 million adults are living with different form of cardiovascular disease in the country.
UK will show lucrative growth over the forecast period. Rising prevalence of chronic disorders coupled with adoption of novel technologies will fuel the revenue share. Germany interventional cardiology & peripheral vascular devices market will grow at healthy rate due to growing awareness towards novel methods and mounting demand for minimally invasive technologies.
China will grow at a robust rate in coming years pertaining to increased sedentary lifestyle, growing prevalence of obesity and increasing healthcare expenditure. Moreover, improving healthcare infrastructure and rising prevalence of diabetes, coronary heart disease, hypertension, and heart diseases will create lucrative growth opportunities in India.
Some of the industry players are Abbott Vascular Devices, Biosense Webster, Boston Scientific, B. Braun, C.R. Bard, Cook Group, Cordis, Medtronic, St. Jude Medical and Terumo. Companies are focusing on introduction of novel technologies, collaboration and acquisition to enhance their business portfolio as main strategies. For instance, in May 2017, Cordis introduced RAILWAY sheathless access system and two new percutaneous transluminal coronary angioplasty balloon catheters under Kaneka brand named as Ikazuchi Zero and Raiden3.
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