New York, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Interventional Cardiology Devices And Equipment Global Market Report 2023" - https://www.reportlinker.com/p06277213/?utm_source=GNW
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The global interventional cardiology devices and equipment market will grow from $12.6 billion in 2022 to $13.72 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The interventional cardiology devices and equipment market is expected to grow to $18.24 billion in 2027 at a CAGR of 7.4%.
The interventional cardiology devices and equipment market consists of sales of equipment with technologies such as vascular closure, atherectomy, intravascular ultrasound, fractional flow reserve, and optical coherence tomography (OCT) that are used for the treatment of interventional structural heart diseases.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Interventional cardiology devices and equipment are used in interventional cardiology, a branch of medicine that deals with the catheter-based treatment of structural heart diseases.
North America was the largest region in the interventional cardiology devices and equipment market in 2022.Western Europe was the second-largest region in the interventional cardiology devices and equipment market.
The regions covered in the interventional cardiology devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of interventional cardiology devices and equipment are angioplasty balloons, angioplasty stents, catheters, plaque modification devices, and other interventional cardiology devices.The catheter is a tubular medical device for insertion into canals, vessels, passageways, or body cavities to permit injection or withdrawal of fluids or for keeping the passage open.
The market is divided by age group into new-born (0-30 days), infant (31 days-1 year), children (1-18 years), and adult (18+ years). The various applications involved are hospitals, clinics, cardiac catheterization labs, and ambulatory surgical centres.
The interventional cardiology devices and equipment market is being driven by an increase in cardiovascular diseases.Cardiovascular diseases are health problems that are associated with the blood vessels, circulatory system as well as heart.
The rise in cardiovascular diseases has led to a rise in healthcare expenditure in the medical equipment market which further drives the interventional cardiac devices and equipment market.According to an estimate by Centers for Disease Control and Prevention (CDC),, heart diseases caused 697,000 deaths in 2020.
Further, according to an estimate by WHO, cardiovascular diseases are expected to account for 23.6 million deaths by 2030.
The intervention cardiology devices and equipment market is being restrained by the high costs associated with the procurement and use of interventional cardiology devices.The interventional cardiology devices include drug-eluting stents, tiny mesh tubes coated with medicines, and pacemakers.
For instance, according to a study, implantable heart devices like pacemakers and stents cost two to six times more in the US than in Germany and other European Union countries.
Advancement in the technology of Interventional cardiology devices is one of the major trends in the market.Advanced devices cover technologically advanced imaging modalities such as Intravenous Ultrasound (IVUS), Fractional Flow Reserve (FFR), and Optical Coherence Tomography (OCT).
For instance, according to a study published by the US CDC (Centers for Disease Control and Prevention), the treatment of cardiovascular diseases has changed substantially due to the introduction of new drug therapies and devices such as guidewires and stents which allow the patient to live quality and longer lives.
According to The International Standard for Medical Device Manufacturers ISO 13485:2012, which sets standards regarding both product quality and compliance with governmental regulations, medical device manufacturing companies should follow all the strictest regulations.Companies earning this certification have consistently met both regulatory and customer requirements.
Within the United States, regulations for medical devices are known as Current Good Manufacturing Practices (cGMP). The FDA’s Center for Devices and Radiological Health (CDRH) is responsible for certifying medical devices should meet appropriate standards before they are made available for patient use.
The countries covered in the interventional cardiology devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The interventional cardiology devices and equipment market research report is one of a series of new reports that provides interventional cardiology devices and equipment market statistics, including interventional cardiology devices and equipment industry global market size, regional shares, competitors with a interventional cardiology devices and equipment market share, detailed interventional cardiology devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the interventional cardiology devices and equipment industry. This interventional cardiology devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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