Global Interventional Cardiology Devices Market Outlook
Global Interventional Cardiology Devices Market: Interventional cardiology deals with the treatment of various heart diseases by using intravascular catheter-based techniques. Interventional cardiology devices are commonly used in the treatment of coronary artery disease, conventional artery disease, and aneurysm. In this technique, catheter is inserted into any large peripheral artery or vein with the help of fluoroscopy by catheter whole procedure. Interventional cardiology provides controlled bleeding and fast recovery within a short period of time and reduce the complications for patients. The most commonly used interventional cardiology devices include balloon-inflation devices, coronary stents, and cutting balloon catheters among others.
Increase in the incidence rate of various cardiovascular diseases, a rise in preference for minimally invasive procedures, growing clinical trials for the novel interventional cardiology devices, and technological advancements of devices are anticipated to fuel the interventional cardiology devices market over the forecast period. Moreover, favourable reimbursement policies for the devices, lifestyle changes, and rise in product launchings might bolster the interventional cardiology devices market. However, stringent regulatory policies, product recall, high cost for the manufacturing of interventional cardiology devices & treatments, and lack of skilled professionals are expected to dampen the Interventional Cardiology Devices Market over the forecast period.
Interventional Cardiology Devices Market is segmented on the basis of product type, indication, and end user
Based on the product type, Interventional Cardiology Devices Market is segmented into the following:
- Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloons
- Percutaneous Transluminal Coronary Angioplasty (PTCA) Guide Wires
- Inferior Vena Cava (IVC) Filters
- Intravascular Ultrasound Systems
- Left Atrial Appendage (LAA) Devices
Based on the disease type, Interventional Cardiology Devices Market is segmented into the following:
- Congestive Heart Disease
- Percutaneous Valve Replacement
- Percutaneous Valve Repair
- Coronary Thrombectomy
Based on the end user, Interventional Cardiology Devices Market is segmented into the following:
- Cardiac Catheterization Labs
- Ambulatory Surgical Centres
Interventional cardiology devices market is growing at a significant CAGR owing to rise in demand for minimally invasive procedures and increase in the prevalence of various cardiac diseases around the globe. According to World Health Organization, approximately 17.3 Mn people died from CVDs in 2008 which is anticipated to reach 23.6 Mn by 2030. Most of the international players are focusing on innovation of novel products with minimally invasive procedures which are expected to upsurge the revenue of interventional cardiology devices market. Moreover, acquisitions & mergers, collaborations, product approvals and launching, and patent filings are the strategies followed by the companies for dominating the interventional cardiology devices market. For instance, in February 2017, Merit Medical Systems acquired interventional cardiology devices from the Argon Medical Devices and Catheter Connections, Inc. for strengthening its interventional cardiology devices portfolio. In addition, in January 2016, in Europe, Svelte Medical Systems launched Slender a sirolimus-eluting coronary stent system used as interventional cardiology device.
Geographically, Global Interventional Cardiology Devices Market is segmented into North America, Asia Pacific, Middle East and Africa, Latin America, and Europe. North America Interventional cardiology devices market exhibiting lucrative growth due to increase in the incidence of various cardiovascular diseases (according to Centres for Disease Control and Prevention 2016, approximately 40,000 children born with congestive heart diseases in U.S.), a rise in healthcare expenditure, and rise in R&D activities for the innovation of novel devices. In Europe, higher prevalence of cardiovascular diseases majorly in Bulgaria, Germany, Hungary, Sweden, UK, and France drives the interventional cardiology market in the region. Furthermore, high adoption of technologically advanced devices, rising CE mark approval for various interventional cardiology devices, and rise in demand for minimally invasive procedures are bolstering the interventional cardiology devices market in Europe region. However, Asia Pacific expected show significant growth due to growing incidence cardiovascular diseases majorly in India and China and rise in per capita income.
Some of the players in the Global Interventional Cardiology Devices Market are Abbott Laboratories (U.S.), Medtronic, Plc. (Republic of Ireland), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (U.S.), C.R. Bard, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.), Terumo Corporation (Japan), Argon Medical Devices, Inc. (ACI Medical Devices, Inc.) (U.S.), (Svelte Medical Systems, Inc. (U.S.), Cardinal Health, Inc. (U.S.), and Venus Medtech, Inc. (China) to name a few.
- In May 2017, Boston Scientific acquired Symetis for expanding the interventional cardiology devices business segment outside the U.S.
- In January 2017, Abbott Acquired the St.Jude Medical, Inc. for the diversification of product portfolio including interventional cardiology devices
- In April 2017, China Food and Drug Administration approved Venus Medtech Inc.’s trans-catheter aortic valve implantation device in China
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