Jersey City, NJ, Sept. 14, 2023 (GLOBE NEWSWIRE) -- According to the latest research by InsightAce Analytic, the Global Interventional Cardiology Devices Market is valued at US$ 17.69 Bn in 2022, and it is expected to reach US$ 33.46 Bn by 2031, with a CAGR of 7.5% during a forecast period of 2023-2031.
Interventional cardiology devices are medical tools and equipment specifically designed for diagnosing and treating cardiovascular conditions through minimally invasive procedures. These devices play a critical role in interventional cardiology, which focuses on treating heart diseases using catheter-based techniques rather than traditional open surgery. According to a survey, heart attacks and strokes account for more than four out of every five cardiovascular disease-related fatalities, with one-third of these deaths occurring before age 70.
The most significant behavioural risk factors for cardiovascular disease and stroke are inadequate diet, smoking, inactivity, and excessive alcohol consumption. Obesity and high blood pressure may be indicators of a person's condition. Consequently, cardiovascular disease results from this. All of these factors will boost the market for interventional cardiology devices over the projected time frame. Other risk factors that affect the demand for interventional cardiology equipment include diabetes and hypertension. Diabetes is significantly more likely to be associated with other conditions that increase the risk of coronary heart disease. High blood sugar levels could eventually cause injury to the blood vessels that control the heart.
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Recent Developments:
- In Feb 2023, Abbott agreed to buy Cardiovascular Systems (CSI), a business that makes medical devices, in a deal worth about $890 Bn. Interventional treatment devices for people with peripheral and coronary artery disease were made by CSI and sold to patients. The devices were made for atherectomy, which is a minimally invasive way to treat plaque buildup in the vessels that can stop blood flow.
- In March 2021, The multinational medical technology company Medtronic recently declared the commercialization of their Chameleon Percutaneous Transluminal Angioplasty (PTA) balloon catheter in various nations, including Italy, Portugal, South Africa, and Turkey. The gadget facilitates the administration of diagnostic or therapeutic fluids by means of the integrated injection port located near the balloon.
List of Prominent Players in the Interventional Cardiology Devices Market:
- Medtronic
- Boston Scientific Corporation
- Abbott
- Edward Lifescinces Corporation
- Becton, Dickinson, and Company
- B. Braun
- Terumo Corporation
- Biosensors International Group
- Balton Sp. z o.o.
- Biosensor International
- Biotronik SE & Co. KG
- Cardinal Health, Inc.
- Comed B.V.
- Endocor GmbH
- iVascular S.L.U.
- Johnson & Johnson
- Koninklijke Philips N.V.
- Medinol Ltd.
- Penumbra, Inc.
- Rontis AG
- Scitech
- SMT (Sahajanand Medical Technologies Pvt. Ltd.)
- Stentys SA
- WELLINQ
- Lifetech Scientific
Interventional Cardiology Devices Market Report Scope:
| Report Attribute | Specifications |
| Market Size Value In 2022 | USD 17.69 Bn |
| Revenue Forecast In 2031 | USD 33.46Bn |
| Growth Rate CAGR | CAGR of 7.5% from 2023 to 2031 |
| Quantitative Units | Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | By Product |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Market Dynamics:
Drivers-:
Cardiovascular illnesses, including valvar defects and atrial stenosis, are prevalent in developing countries like China, India, and Brazil, creating a large need for interventional cardiology equipment for treatment. In order to create and release innovative goods to suit this expanding demand throughout these countries, leading medical device manufacturers are investing in R&D Major players are increasingly working together to undertake a number of clinical trials on interventional devices. The market will be further boosted by regulatory agencies increasingly approving these interventional devices produced by domestic companies in developing nations.
Challenges:
In 2020, the market was significantly impacted by the COVID-19 epidemic. Global elective surgical procedures were greatly impacted by COVID-19, which also greatly impacted the global market. Structural and coronary heart disease treatments were delayed while medical facilities battled an influx of individuals with COVID-19 infection. However, significant increases in all elective and interventional surgeries, including coronary operations, were noted in 2021 in several nations around the world. Additionally, due to non-invasiveness and infection control among patients, post-pandemic healthcare professionals' high preference for interventional therapies will further fuel market expansion.
Regional Trends:
The North American interventional Cardiology Devices market is expected to record the highest market share in revenue. The market share for interventional cardiology devices is expected to be dominated by North America because of the prevalence of coronary heart disease and the growing focus of major manufacturers on innovative technologies. The market was evaluated as a result of an increase in the number of coronary illnesses being diagnosed and treated. A large portion was controlled by Europe in 2021 as a result of inexpensive interventional devices.
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Segmentation of Interventional Cardiology Devices Market Value (US$ Mn) and Volume (No. of Units) By Product:
- Angioplasty Balloons
- Old/Normal Balloons
- Drug-eluting Balloons
- Cutting and Scoring Balloons
- Angioplasty Stents
- Drug-eluting Stents
- Bare-metal Stents
- Bioabsorbable Stents
- Structural Heart Devics
- Aortic Valve Therapy Devices
- Other Therapy Devices (Mitral valve, pulmonary valve and tricuspid valve and left atrial appendage therapy devices)
- Catheters
- Angiography Catheters
- Guiding Catheters
- IVUS/OCT Catheters
- Plaque Modification Devices
- Atherectomy Devices
- Thrombectomy Devices
- Hemodynamic Flow Alteration Devices
- Embolic Protection Devices
- Chronic Total Occlusion Devices
- Other Devices
- Guidewires
- Vascular Closure Devices
- Introducer Sheaths
- Hemostasis Valves
- Balloon Inflation Devices
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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