Interventional Vascular Consumables Market Research Report: By Type (Coronary, Peripheral), Product Type (Catheter, Guidewire, Embolic Protection Device, Inferior Vena Cava Filter, Sheath, Vascular Closure System, Vascular Patch, Vascular Plug) - Revenue Estimation and Forecast to 2030

Market Overview

The global interventional vascular consumables market generated $3,929.2 million in 2021, and it is expected to grow with a CAGR of 3.8% during the forecast period, to reach $5,501.7 million by 2030. The increasing number of CVD cases across the globe is fueling the demand for interventional vascular procedures. For instance, according to the WHO, around 17.9 million people die of CVDs each year, representing 32.0% of all global deaths.

Further, the demand for minimally invasive procedures is rising among older people as they are less painful, low-risk, and economical and enable a faster recovery compared to open surgeries. This further increases the demand for consumables, such as catheters, guidewires, and embolic protection systems.

Moreover, according to the WHO, between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. Moreover, according to the World Population Ageing 2020 by the United Nations, the share of the global population aged 65 years and over is expected to increase from 9.3% in 2020 to 16.0% by 2050. The report stated that there were 727 million persons aged 65 years and over in 2020 globally.

Geographical Expansion Offers Players Lucrative Opportunities

Players operating in the market are expanding their geographical presence with the objective to offer advanced cardiovascular consumables and devices. For instance,

• In September 2021, Integer Holdings Corporation announced its further expansion in Galway, Ireland, with the construction of a new medical device innovation and manufacturing facility in the Parkmore East area of Galway. This expansion will help it in meeting the increasing demand for regional research, development, and manufacturing, especially for catheters and delivery systems.
• In January 2021, Confluent Medical Technologies announced the expansion of its agreement with Allegheny Technologies Incorporated (ATI) for the manufacturing and supply of ELI Nitinol, a specialized metal alloy used to produce high-performance minimally invasive medical devices and their components. This move helps in increasing the supply of the ELI Nitinol material, which is in a high demand in critical medical device applications.

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Coronary Interventional Procedures Generated Majority of Revenue in Market

The consumables used in coronary interventional procedures accounted for around 80% revenue share in 2021. The rising cases of coronary heart disease, associated with the increasing geriatric population, are leading to the surging demand for the consumables used during coronary procedures. According to the CDC, coronary heart disease is the most-common cardiac ailment in the U.S., killing 360,900 people in 2019. Moreover, the older population mostly prefers minimally invasive procedures over open surgeries, which boosts the interventional coronary consumables demand.

Catheters Are Expected To Record Strong Demand for Interventional Procedures

Catheters are expected to progress with around 4% CAGR during the forecast period. This is ascribed to the higher prices of catheters compared to other consumables, their more-frequent usage, and availability of several types of catheters in the market. Moreover, the presence of established players, who are actively engaging in product launches, is supporting the growth of the interventional vascular catheters market. For instance, in July 2021, Medtronic plc introduced a new drug-coated balloon catheter for the treatment of coronary artery disease in Europe. This drug-coated balloon is used during percutaneous coronary intervention procedures, to treat patients with narrowed or blocked coronary arteries.

Similarly, in April 2019, Guerbet, a provider of contrast agents and solutions for medical imaging, announced the European launch of SeQure and DraKon, two novel microcatheters for peripheral embolization procedures. The SeQure and DraKon microcatheters have received the CE mark for the delivery of intra-arterial therapy and embolic materials into all peripheral vessels.

North America Has Been Most Lucrative for Medical Device Companies Historically

North America held the largest share, of 35.2%, in the interventional vascular consumables market in 2021. The dominance of the continent on the market is mainly attributed to the rising healthcare expenditure, increasing number of cases of chronic diseases, and growing geriatric population.

According to a report published by the Rural Health Information Hub, in the U.S., 46 million people were aged 65 and above in 2020, and this number is set to increase to almost 90 million by 2050. The booming geriatric population leads to the rising prevalence of chronic diseases, thus resulting in a high demand for interventional vascular consumables in the region. Interventional procedures are preferred by older patients as these procedures have a lower risk of complications and are affordable. Moreover, they are preferred as with age, patients’ ability to heal the scars of the surgery may diminish.

Moreover, the rising healthcare expenditure in the North American region is playing a key role in this regard, by making healthcare accessible to the masses. According to the World Bank, the healthcare expenditure of the North American region was 12.3% of its GDP in 2000, and it increased to 16.4% of the GDP in 2018.

Along with the above-mentioned factors, the North American interventional vascular consumables market is benefitted by the strong supply chain of such products due to the presence of numerous well-established interventional vascular consumable manufacturers. Key players, such as Boston Scientific Corporation, Abbott Laboratories, Cook Group Inc., Becton, Dickinson and Company, and Merit Medical Systems Inc., have their headquarters in the U.S., and they use direct and indirect channels to distribute the consumables to hospitals and clinics for interventional vascular procedures.

Market Players Are Actively Involved in Mergers & Acquisitions

Key players in the market are taking concrete measures to increase their market share, strengthen their product portfolio, and improve their value proposition. For instance,

• In January 2022, ICU Medical Inc. announced that it has acquired Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringes and ambulatory infusion devices, vascular access devices, and peripheral intravenous catheters.
• In August 2020, Koninklijke Philips N.V. (Phillips) signed an agreement to acquire Intact Vascular Inc., a U.S.-based developer of medical devices for minimally invasive peripheral vascular procedures. This acquisition enhanced the image-guided therapy portfolio of Phillips by combining its interventional imaging platform and diagnostic and therapeutic devices with Intact Vascular Inc.’s implantable devices, to optimize the treatment of patients with peripheral artery disease.

Moreover, the interventional vascular consumables market is being shaped by new medical device manufacturing and marketing regulations, due to which older devices will be gradually replaced. Therefore, the big players in the market, such as Cardinal Health Inc., Becton, Dickinson and Company, and B. Braun Melsungen AG, have started launching products that comply with the new standards. For instance:

• In August 2021, Merit Medical Systems Inc. announced the commercial launch of the One-Vac evacuated drainage bottle (One-Vac) to aspirate, remove, or sample body fluids. The One-Vac is ideal for thoracentesis and paracentesis procedures and patients with diseases that require fluid drainage as part of their care plan. An ergonomic handle allows doctors to start, stop, and regulate the flow. The handle is also easy to remove, thus minimizing spills during discard. The bottleneck is easy to hold, and the entire device is made of durable plastic, designed to prevent breakage.

Key Players in Global Interventional Vascular Consumables Market Are:

• Boston Scientific Corporation
• Medtronic plc
• Abbott Laboratories
• Terumo Corporation
• Becton, Dickinson and Company
• Cook Medical LLC
• Merit Medical Systems Inc.
• B. Braun Melsungen AG
• Heraeus Holding GmbH
• Johnson & Johnson

Market Size Breakdown by Segment

The global interventional vascular consumables market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.

Based on Type

• Coronary
• Peripheral

Based on Product Type

• Catheter
• Guidewire
• Embolic Protection Device
• Inferior Vena Cava (IVC) Filter
• Sheath
• Vascular Closure System
• Vascular Patch
• Vascular Plug

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific (APAC)
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America (LATAM)
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • Saudi Arabia
  • South Africa