Interventional Vascular Consumables Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Interventional Vascular Consumables Market Trends & Growth Drivers

Increasing Geriatric Population Strongly Propels Market

• The risk associated with open surgeries, which is higher for the older population, in addition to their higher cost, is leading to the increasing demand for interventional vascular procedures among the geriatric population.
• According to a report published by the WHO, an estimated 17.9 million people die from CVDs every year, representing 32% of all global deaths. Of these deaths, 85% are due to heart attacks and strokes.
• Additionally, as per the Centers for Disease Control and Prevention (CDC), in the U.S., 14.2% of the adults aged 45 years and older report coronary heart disease (CHD) or a stroke, or both.
• Further, 11.6% of the adults diagnosed with CHD or a stroke or both, aged 65 years and older, report 14 or more mentally unhealthy days in a month, compared to 27.8% of the adults aged 45–64 years.

High Prices and Complex Manufacturing Process Restrain Market Growth

Precision manufacturing and post-processing technologies impact the efficacy and safety of interventional consumables. Only particular types of materials can be used when strict specifications must be met. As more-precise tools and machines are required to accomplish these tighter tolerances, tooling prices will rise as well.

The labor force engaged in the manufacturing of such products requires a higher level of skill, thus driving labor costs and, eventually, the production cycle's cost. Inspection requirements will have to be enhanced as a result of the tight tolerances and stringent requirements.

Post-processing techniques, including complex surface texturing, ion sputtering, and biocorrosion, can also be utilized to increase the surface quality and accuracy of these consumables. Other post-processing techniques include polishing and oxidation treatment, in addition to drug coating, surface modification, microstructures.

These factors demand a complex manufacturing process and increase the cost of the manufacturing of these consumables. Interventional consumables manufacturing techniques currently have numerous limitations and shortcomings, especially for challenging miscellaneous diseases and personalized demands.

Hence, the complex manufacturing requirements and the high prices of these products pose a negative impact on the interventional vascular consumables market. On average, a coronary angiography in India costs between INR 12,000 and INR 50,000. Further, a study calculated the per bed per day cost for a patient at a cardiac care unit at a government hospital at over INR 28,000, half of which is attributed to equipment cost.

This can discourage people from the lower income groups from seeking comprehensive cardiovascular care, thus challenging the growth of the market to some extent.

Interventional Vascular Consumables Market Analysis

Type Insights

• The coronary bifurcation dominates the market in 2024 with 70% share.
• 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., being present in 20.5 million adults and killing 366,000 annually.
• Moreover, the older population mostly prefers minimally invasive procedures over open surgeries, which boosts the interventional coronary consumables demand.

The following types have been analyzed:

• Coronary (Larger Category)
• Peripheral (Faster-Growing Category)

Product Type Insights

• Catheters hold the largest share, of 35%, in 2024.
• 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.
• The IVC filter category is expected to witness the highest CAGR, of 4.6%, over the forecast period.
• An IVC filter is used to prevent a pulmonary embolism, which records an annual incidence of 1 in 1,000 people around the world.
• Further, almost 20% of the people with a PE die within three months, while almost 50% of the patients face difficulties in daily functioning and exercise for up to one year.

The report offers insights for the following product types:

• Catheter (Largest Category)
• Guidewire
• Embolic Protection Device
• IVC Filter (Fastest-Growing Category)
• Sheath
• Vascular Closure System
• Vascular Patch
• Vascular Plug
• Others

Regional Analysis

North America will hold the largest share, of 45%, in the interventional vascular consumables market in 2024. 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 U.S. Census Bureau, 17.7% of the U.S. population in 2023 was aged 65 years or more. 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 Center for Medicare and Medicaid Services (CMS), national health spending in the U.S. grew by 4.5% from 2021, reaching USD 4.5 trillion in 2022.

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. Many key players 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.

APAC will witness the fastest-growth during the forecast period, at a CAGR of 4.5%. APAC is home to the world’s oldest population. For instance, in Japan, 29.22% of the population was aged 65 and above in 2022. The number in China stood at 14%, which represents a large pool of CVD patients. Additionally, over 900 deaths per 100,000 people in China each year are a direct result of either stroke or CVD. Moreover, the healthcare infrastructure of the region is improving due to the various initiatives taken by the government to cope with the increasing cases of chronic diseases and provide better healthcare facilities, especially to older patients.

The following regions and countries are covered in the report:

• North America (Largest Regional Market)
  • U.S. (Larger and Faster-Growing Country Market)
  • Canada
• Europe
  • Germany (Largest and Fastest-Growing Country Market)
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific (APAC) (Fastest-Growing Regional Market)
  • Japan
  • China (Largest and Fastest-Growing Country Market)
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest and Fastest-Growing Country Market)
  • Mexico
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia
  • South Africa (Largest and Fastest-Growing Country Market)
  • Rest of MEA

Interventional Vascular Consumables Market Share

• The interventional vascular consumables market is consolidated in nature as the major medical device companies hold their sway.
• The key players in the market are taking concrete measures to increase their market share, strengthen their product portfolio, and improve their value proposition.
• 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.

Interventional Vascular Consumables Market News

• In April 2024, Boston Scientific Corporation began the NAVIGATE-PF clinical study of its FARAVIEW software module to assess its capabilities in visualizing and tracking the FARAWAVE Nav pulsed field ablation catheter during the treatment of patients with persistent and paroxysmal atrial fibrillation.
• In March 2024, Boston Scientific Corporation received the FDA approval for its AGENT drug-coated balloon, used to treat coronary in-stent restenosis in coronary artery disease patients.
• In March 2024, Becton, Dickinson and Company enrolled the first patient in its IDE study, AGILITY, on the BD Vascular Covered Stent for peripheral artery disease treatment.
• In April 2023, Abbot Laboratories completed the previously announced acquisition of Cardiovascular Systems Inc., which produces interventional treatment systems for coronary and peripheral artery diseases, for USD 890 million.
• In October 2023, Integer Holdings Corporation acquired InNeuroCo Inc., a developer or neurovascular catheters, for USD 58 million.