Interventional Cardiology Devices Market to grow at an Impressive CAGR During the Forecast Period
Rising prevalence of cardiovascular diseases is driving the growth in Global Interventional Cardiology Devices Market in the forecast period, 2022-2026.
According to TechSci Research report, “Global Interventional Cardiology Devices Market By Product Type (Angioplasty Balloons, Angioplasty Stents, Structural Heart Devices, Catheters, Plaque Modification Devices, Hemodynamic Flow Alteration Devices, Others) By End User (Hospitals & Clinics, Ambulatory Surgery Centers, Others) By Region, Competition Forecast & Opportunities, 2026”, the global interventional cardiology devices market is projected to grow at an impressive CAGR in the forecast period, 2022-2026. The market growth can be attributed to the rising prevalence of the non-communicable diseases which is increasing because of the unhealthy lifestyle habits are major factors that are driving the global interventional cardiology devices market growth in the upcoming five years. Lifestyle changes like consumption of excess salt, saturated fats, sugars along with the lack of physical workouts and alcohol and tobacco abuses has put a lot of stress on the heart functions of the population and there by increasing the instance of the heart related target diseases. To diagnose such diseases and provide the treatment, the medical devices are utilized and thus it is boosting the growth of the global interventional cardiology devices market in the next five years.
Interventional cardiology devices are the minimally invasive devices that are specifically instilled in the diagnostic and the surgical procedures related to the heart. These include angioplasty balloons, that is a specially designed catheter that carries a balloon in the artery which is inflated to release the blockage and make way for the artery to carry the blood. In the procedure a stent is often installed and left in the artery to keep the blockage open for further flow of the blood. This stent device is also known as the angioplasty stent, which is another type of interventional cardiology device. Artery blockage is very common among the obese, diabetic, patients. If the patient is a regular smoker condones an irregular diet the risks of cardiovascular disease increase many folds thus, the factor can be termed as a major driver of the market growth in the future five years.
Furthermore, technological advancements in the guidewires and stents on grounds of excellent tip shape retention, improved flexibility with minimal deformity, and cost-effective product is expected to boost the market growth in the forecast period, 2022-2026.
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The global interventional cardiovascular devices market is segmented by product type, end user, regional distribution, and competitive landscape. Based on end user the market is further fragmented into hospitals & clinics, ambulatory surgery centers, and others. Hospitals & clinics are anticipated to assert its dominance over the market owing to the availability of the pre- and post-surgery services along with the surgery in a same place along with the affordability of the devices by the hospitals is driving the growth of the segment in the market. As compared to the smaller clinics hospitals and specialized clinics can afford the in-expensive devices and avail the refunding from the government which is a major growth driver of the market.
Some of the major competitors in the market are Medtronic Plc., Boston Scientific Corporation, Abbott Laboratories, Inc., Biotronik, Inc., Edward LifeSciences Corporation, Cardinal Health, Inc., iVascular – Dispositivos Cardiovasculares, B. Braun Melsungen AG, Terumo Corporation, Biosensors International Group Ltd, Cordis Corporation, Cook Medical Inc., C. R. Bard, Inc, MicroPort Scientific Corporation, Stentys SA, among others. Other strategies include partnerships and technological advancements. In the year 2020, one of the top players Boston Scientific Corporation gained FDA approval for its latest product Ranger Paclitaxel-Coated PTA Balloon Catheter, indicated for percutaneous transluminal angioplasty (PTA) procedures.
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“North American region is an expected promising sector for the future market growth. The market is bound to grow on the attributes like presence of sophisticated healthcare infrastructure, favorable government initiatives pertaining to product development, and high patient awareness levels coupled with relatively higher healthcare expenditures in the region. Along with North America, Europe is also expected to hold significant market share in the forecast period owing its growth to the rising incidences of obesity and changing lifestyle. Dietary irregularities and growing number of smokers is responsible for the expected future growth. Asia Pacific region has the huge population that is over the age of 60 years, that is driving the market growth in the upcoming five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Interventional Cardiology Devices Market By Product Type (Angioplasty Balloons, Angioplasty Stents, Structural Heart Devices, Catheters, Plaque Modification Devices, Hemodynamic Flow Alteration Devices, Others) By End User (Hospitals & Clinics, Ambulatory Surgery Centers, Others) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global interventional cardiology devices and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global interventional cardiology devices.
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