According to the latest report by IMARC Group, titled “Interventional Cardiology Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global interventional cardiology devices market size reached US$ 19.58 Billion in 2021. Interventional cardiology devices refer to medical tools and equipment used to diagnose and treat cardiovascular diseases (CVDs). Some of the common devices include stents, mitral, catheters, angioplasty balloons, pulmonary and tricuspid valves, plaque modification, and hemodynamic flow alteration devices. These instruments are widely used for medical procedures, such as trans-myocardial laser revascularization (TMR), angioplasty, coronary artery bypass grafting (CABG), stenting, aneurysm repair, open-heart, off-pump heart, and minimally invasive (MI) heart surgeries. Interventional cardiology devices are less painful and cost-effective, require a shorter recovery period, suitable for infants and children, and reduce the risk of heart attacks.
Interventional Cardiology Devices Market Trends-
The rising geriatric population prone to chronic heart ailments across the globe is one of the key factors driving the market growth. Interventional cardiology devices are widely used to treat vascular and cardiovascular illnesses and capture embolic debris to ensure continuous blood flow and prevent blockages. In line with this, the increasing prevalence of CVDs on account of sedentary lifestyles and unhealthy dietary habits and patterns, such as smoking and alcohol consumption, is favoring the market growth. Additionally, the surging demand for compact cardiovascular devices, such as a balloon or stent, to open the obstructed artery, restore blood supply, and cause minimal scarring, is acting as another growth-inducing factor. Apart from this, the introduction of bioabsorbable and drug-eluting stents that help eliminate the chances of blood clots forming in a stent is providing an impetus to the market growth. Moreover, the widespread utilization of advanced imaging techniques, such as fractional flow reserve (FFR) and intravenous ultrasound (IVUS), for the early detection and prompt treatment of CVDs is positively influencing the market growth. Other factors, including rising expenditure capacities, significant growth in the healthcare industry, and shifting preferences toward MI procedures, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 32.21 Billion by 2027, exhibiting a CAGR of 8.40% during 2022-2027.
- On the basis of the product, the market has been classified into stents (drug eluting, bare metal, and bio-absorbable stents), interventional catheters (IVUS, guiding, and angiography catheters), PTCA guidewires, balloon inflation device, and PTCA balloons (cutting, scoring, drug eluting and normal balloons).
- Based on the end user, the market has been categorized into hospitals, ambulatory surgical centers, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Abbott Laboratories, Alvimedica, B. Braun Melsungen AG, Biosensors International Group Ltd. (Bluesail Medical Co. Ltd.), BIOTRONIK Inc., Boston Scientific Corporation, Cook Group Incorporated, ENDOCOR GmbH, Koninklijke Philips N.V., Medinol Ltd., Medtronic plc and Terumo Corporation.
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