Publishing: May 2021 | Report Code: LS11560 | Available Format: PDF
Interventional Cardiology Devices Market Overview
The global interventional cardiology devices market is expected to witness considerable growth during the forecast period, owing to the increasing prevalence of coronary artery disease (CAD), rising geriatric population, technological advancements in interventional cardiology devices, and growing demand for non-invasive treatments. Normal balloons, drug-eluting stents, guiding catheters, embolic protection devices, and vascular closure devices are different types of devices used in the CAD surgical procedures.
On the basis of product, the interventional cardiology devices market is categorized into angioplasty balloons, angioplasty stents, catheters, plaque modification devices, hemodynamic flow alteration, and others. Of these categories, angioplasty stents dominate the interventional cardiology devices industry, owing to the increasing demand of different types of stents, such as drug eluting stents, bare-metal stents, and bioabsorbable stents for the treatment of CAD. The others category mainly includes guidewires, vascular closure devices, introducer sheaths, and balloon inflation devices.
The interventional cardiology devices market is bifurcated into hospitals and ASCs, on the basis of end user. During the historical period, hospitals category generated the highest revenue in the market, due to the increased prevalence of CAD along with the increased number of surgical procedures.
Geographically, North America held the largest share in the interventional cardiology devices market in 2017, globally, followed by Europe. The North American market is primarily driven by increasing demand for interventional cardiology devices, presence of key established players, developed reimbursement policies, and increasing prevalence of CAD.
The interventional cardiology devices market in Asia-Pacific is expected to grow at the fastest pace during the forecast period. This is attributed to the increasing healthcare expenditure, growing medical tourism, increasing awareness about technologically advanced interventional cardiology devices, and rising focus of market players toward emerging countries.
Interventional Cardiology Devices Market Dynamics
Launch of various advanced interventional cardiovascular devices for CAD by key players is the major trend observed in the interventional cardiology devices market. For example, in September 2018, Terumo Corporation launched Ultimaster Tansei drug-eluting stent in Japan; and in May 2018, the company launched the product in Europe.
Growth Drivers and Restraints
Increasing prevalence of CAD and technological advancements are some of the major factors fostering the growth of the interventional cardiology devices market. According to the CLARIFY registry investigator, a prospective observational longitudinal registry of patients with stable CAD, around 3.8 million men and 3.4 million women die each year from CAD, and the number is projected to a total of 11.1 million deaths form this disease by 2020, globally. Growing geriatric population and increasing demand for non-invasive treatments are some of the other factors contributing to the growth of the interventional cardiology devices industry.
However, high cost of devices, stringent regulatory requirements, presence of effective first-line treatments can be viewed as restraints hampering the growth of the interventional cardiology devices market. The regulatory requirements for the affiliation of medical devices are complex and undergo amendments with changing needs. These regulations are complicated, primarily because of the legal aspects associated with them. The quality and performance of medical devices are necessary facets that need stringent evaluation to ensure public safety. Thus, complex and stringent standards followed for the affiliation of medical devices, restrict the growth of the global market to some extent.
Interventional Cardiology Devices Market – Competitive Landscape
Key players in the interventional cardiology devices industry are introducing new and advanced interventional cardiology devices by seeking approval from regulatory bodies.
For instance, in September 2018, Biotronik SE & Co. KG received the United States Food Drug and Administration (USFDA) approval for the PK Papyrus covered coronary stent system under Humanitarian Device Exemption for use in the emergency treatment of acute coronary perforations.
In May 2018, Medtronic plc initiated clinical study in the U.S. to assess the safety and efficacy of drug-eluting stents bifurcation lesions in patients with CAD. The data from this study will support an application for an indication expansion to include bifurcation lesions for the Resolute Onyx drug-eluting stents from the USFDA.
In May 2018, Abbott Laboratories received approval from the USFDA for XIENCE Sierra, the newest generation of the company’s XIENCE drug-eluting stents. This new generation drug-eluting stent system is designed for the treatment of complex cases, including people with multiple or totally blocked vessels.
Some of the other players in the global interventional cardiology devices market include Boston Scientific Corporation, Cardinal Health Inc., B. Braun Melsungen AG, Biotronik SE & Co. KG, Terumo Corporation, and Biosensors International Group.
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws