Global Interventional Cardiology Devices Market Size to Reach USD 37.47 Billion in 2032 | Emergen Research
Increasing geriatric population and rising prevalence of cardiovascular diseases are some key factors driving growth of the global interventional cardiology devices market
Vancouver, Nov. 01, 2023 (GLOBE NEWSWIRE) — The global interventional cardiology devices market size is expected to reach USD 37.47 Billion at a steady CAGR of 8.7% in 2032, according to latest analysis by Emergen Research. Steady revenue growth of the interventional cardiology devices market can be attributed to a rapidly increasing geriatric population, rising incidence of cardiovascular diseases and conditions such as hypertension, coronary heart disease, heart failure, and stroke.
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Additionally, according to a report published by the World Health Organization (WHO), cardiovascular disease occurrence in China has been projected to witness a 50% increase between 2010 and 2030 owing to a rapidly growing geriatric population. Risks of cardiovascular diseases increase around 40.0% in individuals in the age group of 40 to 59 years, 70% to 75% in individuals in the age group of 60 to 79 years, and 79% to 86% among individuals aged 80 years or over.
Scope of Research
|Market size in 2020||USD 13.72 Billion|
|Revenue forecast in 2032||USD 37.47 Billion|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD Billion and CAGR in % from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product type, end-use, and region|
|Regional scope||North America; Europe; Asia Pacific; Latin America; Middle East & Africa|
|Country scope||U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, South Africa, Israel|
|Key companies profiled||Abbott Laboratories, Terumo Corporation, iVascular, Boston Scientific Corporation, Edwards Lifesciences Corporation, B.Braun Melsungen, Medtronic PLC, Koninklijke Philips NV, Biosensors International Group Ltd., and Endocor GmbH|
|Customization scope||10 hours of free customization and expert consultation|
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MAJOR COMPANIES and Competitive Landscape
The global interventional cardiology devices market is moderately fragmented, with a large number of small- and medium-sized companies accounting for a major revenue share. Major companies have well-established facilities and engage in various research and development initiatives to develop and introduce new and more efficient technologies in the interventional cardiology devices market. Some prominent players operating in the interventional cardiology devices market are:
- Abbott Laboratories
- Terumo Corporation
- Boston Scientific Corporation
- Edwards Lifesciences Corporation
- B.Braun Melsungen
- Medtronic PLC
- Koninklijke Philips NV
- Biosensors International Group Ltd.
- Endocor GmbH.
- In June 2019, Terumo Corporation signed a partnership agreement with Orchestra BioMed, Inc. This partnership provides Terumo Corporation with exclusive rights for the development and marketing of Virtue Sirolimus-Eluting Balloon (SEB).
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Some Key Highlights in the Report
- In September 2019, Heraeus Medical Components announced its decision to purchase Via Biomedical, which is an outsourcing firm engaged in development, prototype design, and production of interventional medical devices.
- Among the product type segments, the catheters segment revenue is expected to increase at a significantly rapid growth rate during the forecast period, which can be attributed to various benefits provided by catheters in interventional cardiology, including reduced contrast agent use, fewer complications, and reduced hemostasis, thus improving patient safety, and enabling faster patient mobilization. Also, reduced hospital stay duration, decreased complications, and lesser use of contrast agents result in cost savings.
- Among the end-use segments, the ambulatory surgical centers segment revenue is expected to register a comparatively faster growth rate during the forecast period. Ambulatory surgical centers are cost-effective, highly efficient, and offer a convenient setting for interventional cardiology procedures.
- Interventional cardiology devices market revenue in Asia Pacific is expected to register the fastest revenue CAGR between 2023 to 2032, which can be attributed to presence of a large geriatric population base and growing prevalence of cardiovascular diseases. Additionally, rising disposable income and increasing healthcare expenditure in countries in the region are other key factors driving growth of the interventional cardiology devices Asia Pacific market.
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Emergen Research has segmented the global interventional cardiology devices market on the basis of product type, end-use, and region:
- Product Type Outlook (Revenue, USD Billion; 2019–2032)
- Angioplasty Stents
- Angioplasty Balloons
- Structural Heart Devices
- Plaque Modification Devices
- Hemodynamic Flow Alteration Devices
- End-Use Outlook (Revenue, USD Billion; 2019–2032)
- Ambulatory Surgical Centers
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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