Interventional Cardiology Market Overview
Interventional cardiology market was worth USD 15,130.75 Million in the year 2018, says Market Research Future (MRFR). MRFR expects the global market size to expand at a rate of 3.67% between 2022 and 2030 (review period). The advancement in healthcare facilities and procedures is estimated to create a promising scope for progress in the interventional cardiology market. The improved funding programs in the global market are predicted to reinforce the interventional cardiology market positively.
Increasing life expectancy along with frequent technological advances will ensure that interventional cardiology notes sustained demand throughout the review timeframe. Factors including rising prevalence of unhealthy lifestyle, innovations in cardiac devices, mounting awareness and the accelerated number of healthcare programs should further enhance the Interventional Cardiology Market size. Underdeveloped regions have vast unmet medical requirements, which can be a striking opportunity for global manufacturers in the market. Favorable insurance scenario encourages patients to opt for treatment, especially in countries like Canada, US, and the UK, and could be favorable for the worldwide industry in subsequent years.
Interventional Cardiology Market Segmentation
Type and end-user are the major segments considered in the MRFR report, to present a detailed outline of the global market.
Types of interventional cardiology include stents (Bare Metal Stents, Bioresorbable Vascular Scaffolds and Drug-Eluting Stents), Percutaneous Transluminal Coronary Angioplasty Catheters (Balloon Catheters as well as Guiding Catheters), Plaque Modification Devices, Coronary Guidewires, and accessories.
The top end-users in the global market are Cardiac Catheterization Laboratories, Hospitals, Ambulatory Surgical Centers, and more. Escalating number of ambulatory surgical centers and the growing awareness about the benefits of conducting cardiovascular procedures in this setting can push the demand for the segment in the years to come. However, hospitals form the biggest segment in the market, given the rising success rate of the procedures carried out in hospitals. Around 200,000 cardiac arrests take place annually in hospitals, while 25 percent of these patients are able to survive in hospital settings, in view of the constantly available medical staff and facilities.
Interventional Cardiology Market Regional Analysis
The regional study of the interventional cardiology industry comprises Europe, Asia Pacific or APAC, the Americas and MEA or Middle East and Africa.
Americas has landed the leading spot in the global market as the region is witnessing a spike in the number of coronary disorders. Percutaneous coronary intervention is a common medical procedure carried out in the region, aimed at patients suffering from coronary artery disease. The escalating demand for interventional cardiology can be accredited to the sizeable investments made by major manufacturers in the region, trying to widen their customer base. Additionally, the rapidly burgeoning cardiac patient pool, sophisticated healthcare system, and the extensive adoption of state-of-the-art healthcare technologies within the cardiac field will also warrant significant gains for the American market over the following years.
Europe is the second highest revenue generating market, due to the government spending substantially on the development and upgradation of the healthcare industry. Noteworthy increase in the number of research & development activities, growth in cardiac surgeries amidst the evolving lifestyle of the mass is anticipated to benefit the European industry in the years ahead.
APAC is bound to make progress at the fastest pace during the given period, on account of the escalation in the cases of cardiac ailments as well as the surging expenditure aimed at improving the healthcare infrastructure. Burgeoning geriatric patient pool and the rising emphasis on business expansion among the regional players also strengthens the APAC market’s position.
Interventional Cardiology Market Players
- ABIOMED (US)
- Abbott (US)
- ACIST Medical Systems Inc. (US)
- Braun Melsungen AG (Germany)
- BD (US)
- Biosense Webster Inc (US)
- Biotronik SE & Co. KG (Germany)
- Boston Scientific Corporation (US)
- Cardinal Health (US)
- Cook Medical (US)
- Edwards Lifesciences Corporation (US)
- GE Healthcare (US).
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