10 Dec 2018 - The global Interventional Cardiology Devices Market size was valued atUSD 15.14 billion in 2013 and is anticipated to reach USD 25.16 billion by2020. Global interventional cardiology devices market is expected to experiencebrisk growth due to rise in heart related problems across the world over theforecast period. Increase in disposable income is presumed to complement theintervention cardiology market growth over the next eight year period.
Interventional
cardiology is numerous non-surgical processes for treating cardiovascular
related problems. These procedures use flexible tubes and catheters thin to get
way inside blood vessels to perform diagnostic test or to repair heart
structures or other damaged vessels, often evading the need to have a surgical
operation. Several devices used in these procedures include stent, PTCA balloon
and catheters among several others. The diseases that are treated using interventional
cardiology comprise coronary artery diseases, peripheral vascular disease and
heart valve disease mainly.
Growth in geriatric
population is expected to boost the market growth in the near future. Moreover
increasing coronary artery disease is presumed to further propel the industry
growth over the next eight year period Rise in demand for minimal procedures
related with invasive angioplasty. Research and development across the world
for technological advancement in order to achieve competitive advantage is
estimated to further fuel the market demand over the forecast period.
Development and innovation in interventional cardiology has resulted in
increased efficiency thus is presumed to be a major factor to fuel the market
demand over the next seven years period. These procedures are estimated to gain
popularity in the near future owing to several advantageous properties such as
minimal process time, reduce the requirement to perform surgery and several
others.
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Interventional
cardiology aid patients and makes the procedures to be performed less complex
as it minimizes the scars risk, reduces pain and avoids extended post-operative
recovery. Effective conventional first level medication availability in the
market is presumed to hinder the market growth over the next eight year period.
This industry requires huge initial investment which is expected to hamper the
demand for interventional cardiology. Several cases related to product failure
and product recall is estimated to restrain the demand for these procedures in
the near future. Key opportunity for this market is expected to be the
innovation and advancement in the bio-absorbable stents over the forecast
period. Numerous emerging markets are expected to be major chance for the
industry vendors to expand their sector over the next eight year period. Entry
barriers in the industry for new players and varying reimbursements are
expected to challenge the market growth in the near future.
Based on device type
the market is segmented as Stents (drug metal stents, bare metal stents, &
bio-absorbable stents), PTCA Balloons which include normal balloons, scoring
balloons, cutting balloons & drug-eluting balloons, percutaneous
transluminal coronary angioplasty guidewires, imaging systems such as IVUS
(intravascular ultrasound), OCT (optical coherence tomography)&FFR
(fractional flow reserve), and Catheters (angiography catheters, pulmonary
artery catheters, guiding catheters & intravascular ultrasound (IVUS)
catheters).
Key regional markets
include North America, Europe, Central & South America, Middle East &
Africa, and Asia Pacific. Developed regions such as Europe and North America
are estimated to witness positive growth owing to research and development
initiatives coupled with huge demand for rising cardiology diseases over the
next eight year period. North America region has dominated the global market
owing to highest adaption in recent past followed by Europe. These regions are
expected to show positive growth in the near future. Developing regions such as
Asia Pacific and Central & South
America are expected
to experience rapid growth in industry owing to rising awareness, rise in
disposable income and increase in coronary artery diseases. Emerging economies
such as India and China are estimated to witness positive growth due to rise in
demand for minimal invasive procedures over the next eight year period.
Innovation and development in order to have best quality product is anticipated
to further enhance the growth in this region in near future.
Vendors are investingon research and development to generate co-products which give them competitiveadvantage over other vendors and to provide economic benefits to this industry.Companies are investing heavily on research and development for improving theproduct quality. This industry requires huge initial investment. The companiesare expected to take strong measures to gain market share and to deliverdiversified product demand. Prominent industry participants St. Jude Medical,Inc.,Terumo Medical Corporation, B. Braun Melsungen AG, Cook Medical, AbbottLaboratories, Inc., Boston Scientific Corporation, Cordis Corporation,Medtronic, plc, and Smiths Medical.
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