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Published Date: 2015-06-16Number of Pages: 118

Interventional Cardiology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022

Global Interventional Cardiology Devices Market: Snapshot

The primary driver of the demand for interventional cardiology devices is the increasing prevalence of coronary artery diseases. Organizations such as the WHO and CDC are consistently calling out the rampant growth in the number of patients suffering from heart problems and coronary artery complications. It has been predicted by the WHO that coronary artery disease will be responsible for almost 23.3 mn deaths by 2030. The causes of this growth in projected patients range from the increasing geriatric population to the obesity epidemic that has especially gripped the developed economies of the world. Both causes are at very high priority in terms of being causes for heart complications and relevant steps need to be taken to treat the increasing number of patients.

From the technological perspective, a lot of focus has been given to the development of existing interventional cardiology devices and the innovation of new ones. For instance, the advancements in diagnostic tools and monitoring tools have drastically improved the success rate of coronary artery disease treatment. Another parallel aspect driving the demand for interventional cardiology devices is the increasing demand for minimally invasive surgeries. Such procedures can dramatically reduce pain of surgery and healing period for heart problem treatments. Therefore, the inculcation of minimally invasive interventional cardiology devices into the healthcare industry on larger scales will certainly promote their use.

The global market for interventional cardiology devices is, however, currently subject to an intense level of competition. Market players are locked in a battle to increase sales volumes and are resorting to price cuts in order to achieve this. This practice is followed largely by regional players and globally prominent companies have to follow suit to hold the majority in global market values. This severely reduces the funds available for further research and development of interventional cardiology devices.

The global market for interventional cardiology devices is expected to be valued at US$9.36 bn by the end of 2016 and US$11.16 bn by the end of 2022. It is projected at a CAGR of 2.9% from 2014 to 2022.

North America to Dominate Interventional Cardiology Devices Demand

North America is expected to continue leading the consumption of interventional cardiology devices. By the end of 2022, North America is expected to generate a revenue of US$4.04 bn through its demand for interventional cardiology devices. This dominant share in the market is attributed to an advanced healthcare infrastructure that largely provides premium medical devices and is more open to incorporating innovative devices. This allows interventional cardiology device manufacturers to maintain profits while achieving a higher rate of research and development, thereby creating a constant cycle of improvements. The North America market for interventional cardiology devices is, however, expected to saturate over the coming years owing to a slower growth in the demand for relevant surgical procedures.

On the other hand, the growth of demand for interventional cardiology devices in Asia Pacific has just begun. This region houses a rapidly developing healthcare infrastructure. Coupled with the rising rate of medical tourism and the introduction of minimally invasive interventional cardiology devices, Asia Pacific is projected to show a CAGR of 4.8% from 2014 to 2022 in this market.

Drug-eluting Stents to Remain Leading Type of interventional cardiology device Used

Stents have consistently taken up the majority share in interventional cardiology device types. By the end of 2022, a projected US$6.89 bn will be generated through the sale of stents. Bare-metal, drug-eluting, and bio-absorbable stents are now commonly found. However, drug-eluting stents currently hold the greater demand, primarily due to their higher efficiency of treatment and the significantly reduced chances of the patient needing in-stent restenosis. The overall advantages of using drug-eluting stents are far greater than their predecessors, the bare-metal stents. At the same time, bio-absorbable stents have not caught on yet, although they are showing a steep increase in demand. This currently puts drug-eluting stents and their manufacturers at an advantage till 2022.

The top providers of interventional cardiology devices in the world include Boston Scientific, Abbott Vascular, Medtronic, St Jude Medical, and Volcano Corporation.

 
Interventional cardiology devices are minimally invasive devices used in the detection and treatment of coronary artery disease. This report on interventional cardiology devices studies the current and future prospects of the market globally. The report comprises an elaborate executive summary, which includes a market snapshot that provides overall information of various segments and sub-segments included in the study. This section also provides the overall information and data analysis of the global interventional cardiology devices market with respect to the leading market segments based on type of device, technique, and geography.
 
The market overview section of the report comprises qualitative analysis of the overall interventional cardiology devices market considering the factors determining the market dynamics such as drivers, restraints and opportunities, along with Porter’s Five Forces analysis and market attractiveness analysis. In addition, various analyses such as value chain analysis, regulatory framework, market attractiveness analysis by geography and competitive landscape by key players has also been provided. Value chain analysis includes the study of major steps involved in the production and distribution of interventional cardiology devices. Regulatory framework includes the study of different regulatory norms and procedures that regulate the approval and commercialization of interventional cardiology devices and techniques. The market attractiveness analysis is provided in order to explain the intensity of competition in the market in different geographies. The competitive scenario between different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help the market players to take strategic decisions in order to strengthen their positions and expand their shares in the global market.
 
The global interventional cardiology devices market has been segmented on the basis of device type, technique, and geography. Based on device type, the interventional cardiology devices market has been categorized into five major segments: stents, catheters, percutaneous transluminal coronary angioplasty (PTCA) balloons, percutaneous transluminal coronary angioplasty (PTCA) guide wires, and other accessories. Stents have been further categorized into three sub-segments: bare metal stents, drug eluting stents, and bio-absorbable stents. Catheters have been further categorized into angiography catheters, intravascular ultrasound (IVUS) catheters, percutaneous transluminal coronary angioplasty (PTCA) guiding catheters, and pulmonary artery catheters. Percutaneous transluminal coronary angioplasty (PTCA) balloons have been subdivided into normal balloons, cutting balloons, scoring balloons, and drug eluting balloons. The imaging systems interventional cardiology devices market is subdivided into intravascular ultrasound (IVUS) systems, fractional flow reserve (FFR) systems, and optical coherence tomography (OCT) systems. Market revenue in terms of USD million for the period between 2012 and 2022 along with the compound annual growth rate (CAGR %) from 2014 to 2022 are provided for all the segments, considering 2013 as the base year.
 
Geographically, the interventional cardiology devices market has been categorized into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East and North Africa, and Rest of the World (RoW). North America comprises the U.S. and Canada. Europe comprises Germany, the U.K., and Rest of Europe. Asia-Pacific comprises China, India, and Rest of Asia-Pacific. Latin America comprises Brazil, Mexico, and Rest of Latin America. Middle East and North Africa comprises Saudi Arabia, the United Arab Emirates and Rest of MENA. The recommendations section included in the report would assist existing players to expanding their market share and new companies in establishing their presence in the interventional cardiology devices market. The report also profiles major players in the interventional cardiology devices market on the basis of various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Major players profiled in this report include Abbott Laboratories, Inc., B. Braun Melsungen AG, Boston Scientific Corporation, Cook Medical, Cordis Corporation, Medtronic, plc, St. Jude Medical, Inc., Smiths Medical, and Terumo Medical Corporation.
 
The global Interventional Cardiology Devices market is segmented as follows:
 
Global Interventional Cardiology Devices Market, by Device Type
  • Stents
    • Bare Metal Stents
    • Drug-Eluting Stents
    • Bio-absorbable Stents
  • Catheters
    • Angiography Catheters
    • Guiding Catheters
    • Pulmonary Artery Catheters
    • Intravascular ultrasound (IVUS) Catheters
  • PTCA Balloons
    • Normal Balloons
    • Cutting Balloons
    • Scoring Balloons
    • Drug-eluting Balloons
  • Imaging Systems
    • IVUS (intravascular ultrasound)
    • FFR (Fractional Flow Reserve)
    • OCT (Optical Coherence Tomography)
  • Percutaneous Transluminal Coronary Angioplasty Guidewires
  • Others
Global Interventional Cardiology Devices Market, by Geography
  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Rest of Asia Pacific
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • Rest of LATAM
  • Middle East North Africa (MENA)
    • Saudi Arabia
    • United Arab Emirates
    • Rest of MENA
  • Rest of the World (RoW)


 
 
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