The global interventional cardiology devices market size is expected to reach USD 28.84 Billion in 2028 and register a CAGR of 8.7% during the forecast period. Steady revenue growth of the interventional cardiology devices market can be attributed to rapidly increasing geriatric population globally and increasing burden of cardiovascular diseases such as hypertension, heart failure, coronary heart disease, and stroke. Cardiovascular Disease (CVD) is reported to be the most common cause of death in the United States, recording approximate 655,000 deaths annually. According to the World Health Organization (WHO), CVDs are the number one cause of death globally, with over 1.7 million deaths each year. Increasing awareness about cardiovascular diseases and their severity among patients and rising need to monitor and treat patients are key factors fueling growth of market.
Interventional cardiology devices such as catheters, stents, guide wires, and others are thin, flexible tubes used to perform cardiovascular procedures such as angioplasty and stenting. The minimally invasive approach of interventional cardiology devices offer numerous benefits such as minimal chances of surgical scars, reduction in complexity and time taken for surgery, and reduced pain. Technological upgrades and improvements in interventional cardiology devices are expected to be a key factor driving market growth.
Various initiatives and programs of government & non-government organizations and major players in the market are formulated to increase awareness among patients about CVD, treatments, information about available advanced technologies and procedures at numerous healthcare centers. Rapid deployment of advanced and innovative cardiovascular devices and increased regulatory approvals are some key factors propelling market growth.
Some Key Highlights in the Report:
- Angioplasty stents are generally used to restore blood flow obstructed due to blockage or clots and reduce risks of heart attacks. Stents reduce the damage caused to heart muscles during an ongoing heart attack. Stents can also relieve or reduce symptoms such as shortness of breath, fatigue, and chest pain.
- The hospital segment accounted for largest revenue share in 2020 and is expected to register significant revenue growth over the forecast period. This growth can be attributed to availability of skilled professionals for precise installation of interventional cardiology devices, state-of-the-art healthcare infrastructure, and high capital expenditure for advanced interventional cardiology devices.
- North America accounted for largest revenue share in 2020 among the other regional markets. This can be attributed to increasing awareness about cardiovascular diseases (CVD), rising deployment of advanced interventional cardiology treatments, and advanced healthcare infrastructure in countries in the region. In addition, robust presence of prominent interventional cardiology device manufacturers and providers in the region are other factors supporting market growth.
- Major companies operating in the market include Abbott Laboratories, Terumo Corporation, iVascular, Boston Scientific Corporation, Edwards Lifesciences Corporation, B.Braun Melsungen, Medtronic PLC, Koninklijke Philips NV, Biosensors International Group Ltd., and Endocor GmbH.
- In 2019, Terumo Corporation and Orchestra BioMed, Inc. partnered to commercialize the Virtue Sirolimus-Eluting Balloon (SEB), which is a leading device in the field of percutaneous coronary and peripheral interventions. The global strategic partnership between the two companies offers Terumo Corporation exclusive rights for manufacturing and commercialization of the device.
For the purpose of this report, Emergen Research has segmented the global interventional cardiology devices market on the basis of product type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Angioplasty Stents
- Angioplasty Balloons
- Structural Heart Devices
- Plaque Modification Devices
- Hemodynamic Flow Alteration Devices
End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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