| Study Period | 2019 - 2030 |
| 2024 Market Size | USD 4,326.3 Million |
| 2025 Market Size | USD 4,463.0 Million |
| 2030 Forecast | USD 5,481.1 Million |
| Growth Rate (CAGR) | 4.0% |
| Largest Region | North America |
| Fastest Growing Region | Asia-Pacific |
| Nature of the Market | Consolidated |
| Largest Product Type Category | Catheter |
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The global interventional vascular consumables market will generate an estimated revenue of USD 4,326.3 million in 2024, and it is expected to grow with a CAGR of 4.0% during the forecast period (2024–2030), to reach USD 5,481.1 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 Prospects 2022 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.
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.
The following types have been analyzed:
The report offers insights for the following product types:
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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:
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