PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1622844
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1622844
The global interventional cardiology devices market is projected to reach USD 27.80 billion in 2024 and is projected to reach USD 37.27 billion by 2029, at a CAGR of 6.0% during the forecast period.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) |
Segments | By Angioplasty Stents, Structural Heart Devices, Catheters, Angioplasty Balloons, Other Devices, End user and Region |
Regions covered | Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. |
The growth of the interventional cardiology devices market is driven by several key factors, most notably the increasing prevalence of cardiovascular diseases (CVD) worldwide, advancements in minimally invasive procedures, and growing demand for improved patient outcomes. As rates of heart disease, hypertension, and diabetes rise, the need for effective treatments such as angioplasty, stenting, and valve replacements also increases. Technological innovations, including the development of drug-eluting stents, bioresorbable scaffolds, and advanced imaging technologies, have enabled safer and more precise procedures, which contribute to the market's growth.
"Based on the angioplasty balloons type, the old/normal balloons segment is expected to grow by the highest CAGR in the interventional cardiology devices market."
Traditional angioplasty balloons, also known as plain old balloon angioplasty (POBA), offer several advantages over drug-eluting balloons (DEBs) in certain clinical scenarios. First, traditional balloons tend to be less costly than DEBs, making them a more accessible option for healthcare systems and patients, especially in regions with limited healthcare budgets or where reimbursement policies may not fully cover DEB, also POBA also has a simpler mechanism-it dilates narrowed blood vessels by compressing plaque against the vessel walls without releasing drugs, which can be beneficial in cases where the risks associated with drug delivery aren't justified. For example, in acute settings like treating certain types of arterial blockages where drug-delivery isn't critical to outcomes, POBA may provide sufficient clinical results without the added complexity or cost of drug elution.
"The embolic protection devices segment in hemodynamic flow alteration devices segment is expected to grow with the highest CAGR in the interventional cardiology devices market."
Embolic protection devices (EPDs) are a vital advancement in interventional cardiology, designed to capture and remove debris that may dislodge during vascular procedures, thereby minimizing the risk of embolization. These devices are particularly beneficial during interventions like carotid artery stenting, where dislodged particles could travel to the brain and cause strokes. By capturing such debris, EPDs significantly reduce periprocedural stroke risks and improve the safety profile of these interventions.
"The guidewires segment in other devices segment is expected to grow with the highest CAGR in the interventional cardiology devices market."
Guidewires are essential in interventional cardiology, offering precision, flexibility, and control that enhance the safety and effectiveness of procedures like angioplasty and stent placement. These thin, flexible wires guide catheters through blood vessels, allowing clinicians to navigate complex vascular structures and reach targeted areas with minimal trauma to surrounding tissues. Their superior torque response and maneuverability help cardiologists access difficult-to-reach lesions, improving procedural success rates and reducing the need for open surgery.
"Based on the end user, hospitals segment is expected to grow by the highest CAGR in the interventional cardiology devices market.
Most interventional cardiology procedures, such as angioplasties, stent placements, and structural heart interventions, are carried out in hospitals because they boast special facilities and the sophisticated imaging technologies that would treat a patient with maximum quality. They are well equipped both for simple and complicated processes with a good staff; besides, they are where they can be managed whenever a complication arises. These settings enable cardiologists to take the latest tool systems into practice, including drug-eluting stents, rotational atherectomy and intravascular ultrasound, to ensure utmost precision and safety for patients.
"Asia Pacific to grow with the highest CAGR in the interventional cardiology devices market during the forecast period."
The Asia-Pacific region is also expected to experience maximum growth in the interventional cardiology devices market in the next few years due to several key factors. Growth is driven by an increasingly aging population, the growing prevalence of cardiovascular diseases, and increased adoption of minimally invasive procedures, especially in countries such as China, Japan, and India. Increased healthcare expenses and development of health infrastructure promote the availability of high-end interventional cardiology services throughout the region.
Key players in the interventional cardiology devices market
Some of the prominent players operating in the interventional cardiology devices market include Boston Scientific Corporation (US), Medtronic (US), Abbott (US), B. Braun SE (Germany), Terumo Corporation (Japan), Edwards Lifesciences Corporation (US), Koninklijke Philips N.V. (Netherlands), Integer Holdings Corporation (US), Teleflex Incorporated (US), Penumbra, Inc. (US), Cook (US), Cordis (US), iVascular S.L.U (Spain), Biosensors International Group, Ltd (Singapore), BIOTRONIK SE & Co. KG (Germany), AMG International (Germany), ENDOCOR GmbH (Germany), InSitu Technologies, Inc. (US), Meril Life Sciences (India), Alvimedica (Istanbul), Cardionovum GmBH (Germany), Medinol Ltd (Turkey), Wellinq (Netherlands), Balton SP (Poland), Translumina (India).
The report analyzes the interventional cardiology devices market and aims at estimating the market size and future growth potential of this market based on various segments such as angioplasty stents, structural heart devices, catheters, angioplasty balloons, plaque modification devices, hemodynamic flow alteration devices, other devices and end user. The report also includes a product portfolio matrix of various interventional cardiology technologies available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall interventional cardiology devices market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.