Interventional Cardiology Devices Market Size Projected to Surge $35.99 Billion Growth by 2032, Exhibit a CAGR of 7.59%
Interventional cardiology devices market size is expected to rise from USD 18.01 Billion to USD 35.99 Billion in a decade. Increasing prevalence of cardiovascular disorders is driving the growth of the interventional cardiology devices market. North America region is the most significant market for interventional cardiology devices market, with a 38.59% market revenue share in 2022.
Newark, Jan. 01, 2024 (GLOBE NEWSWIRE) — The Brainy Insights assesses that the USD 18.01 Billion in 2022 the market for interventional cardiology devices market will reach USD 35.99 Billion by 2032. Interventional cardiology is the sub-discipline of cardiology that employs specialized catheter-based procedures to detect and cure vascular disease, coronary artery disease, congenital heart defects, and structural heart disease. Interventional cardiologists employ several imaging techniques and diagnostic tools to assess cardiovascular activities such as blood pressure and flow of blood in major arteries through the body and inside the different chambers of the heart. Interventional cardiologists are skilled to place stents in blocked arteries to support blood to flow accurately and reduce danger of heart attack or stroke, in addition to repair holes in the heart or plant special devices in the heart to help it function appropriately.
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Key Insight of the Interventional Cardiology Devices Market
Asia Pacific is anticipated to expand at the highest CAGR of 9.02% over the projection period.
Asia Pacific is expected to grow at the highest CAGR of 9.02% over the forecast period. Growing incidence of cardiovascular disorders and growing investment in healthcare setup in expected to encourage the growth of interventional cardiology devices in the Asia Pacific region. CVD (cardiovascular disease) was the prominent cause of death in the Asian continent in 2019, resulting in 10.8 million demises, which were almost 35% of the total demises in Asia. The quantity of CVD deaths in Asia augmented to 10.8 million from 5.6 million in the timeframe from 1990 to 2019, the share of CVD demises in total deaths amplified from 23% to 35%, and crude cardiovascular disease mortality rates amplified continuously in both women and men. The occurrence of nonoptimal cholesterol quantities shifted from being a distinctive feature of high-income nations in North America, Northwestern Europe, and Australasia to develop into a problem in nations of southeastern and eastern Asia.
Over the projected period, the catheters product segment is expected to register the highest CAGR of 9.26% in the interventional cardiology devices market.
In the interventional cardiology devices market, the catheters product segment is anticipated to experience the highest CAGR of 9.26% during the forecasted period. New product launches are anticipated to boost the growth of catheters in the near future. Some of the other factors driving the demand for catheters during the projected period is technological advancements.
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Market Dynamics
Driver: Rise in occurrence of cardiovascular disorders
CVDs (cardiovascular diseases) are the dominant cause of morbidity and mortality globally. Determining the general disease burden amid the young adults and youth is essential. Identifying the hazard factors linked with CVDs in this set of individuals will assist in formulating effective and directed prevention tactics. Currently, there are nearly 620 million persons living with circulatory and heart diseases around the world and this figure has been increasing as a result of changing lifestyle and an aging and rising population. Plaques (cholesterol deposits) in the heart arteries and inflammation are typically the root cause of coronary artery disorder. Indicators and symptoms of CAD (coronary artery disease) occur after the heart doesn’t receive sufficient oxygen-rich blood. Every year nearly 60 million persons worldwide develop a circulatory or heart illness. Around 80 million females and 110 million males are living with coronary heart disorder worldwide. Around nine million people die due to coronary heart disease every year – in 2019 coronary heart disease was the world’s single largest killer. About 1 in 6 fatalities worldwide are triggered by coronary heart disorder. Prior to the coronavirus (COVID-19) pandemic, coronary heart disease was the prominent cause of death globally for around 30 years.
Opportunity: Increasing demand from developing regions
The prevalence of cardiovascular disorders has risen in populations of developing countries. A recent study has revealed that non-HDL and total cholesterol levels have expanded in developing regions, especially in south east and east Asia. non-HDL cholesterol was incriminated as a contributing factor in around 4 million deaths globally, according to a data published in 2017. Around half of these deaths occurred in south, southeast, and east Asia. Moreover, advancement in healthcare infrastructure in low- and middle-income countries, increasing awareness regarding ill effects of rise in cholesterol levels, substantial investments by government authorities to advance healthcare set-up, and increasing demand for advanced healthcare facilities is expected to boost the growth of interventional cardiology devices.
Challenge: Frequent product recall
The rising instances of product recall is presenting serious challenges for the interventional cardiology devices market. Maintaining quality and sterility is crucial for all the devices. Product recall hampers the growth of the market to a great extent.
Report Scope
| Base Year | 2022 |
| Forecast period | 2023-2032 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | Asia Pacific, Europe, South America, North America, and Middle East & Africa |
| Market Size(unit) | USD 35.99 Billion |
| Interventional Cardiology Devices Market CAGR | 7.59% |
| Segments Covered | Product, End User |
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Some of the major players operating in the interventional cardiology devices market are:
• Medtronic
• Abbott Laboratories
• Terumo
• Boston Scientific
• BIOTRONIK
• B. Braun
• Koninklijke Philips N.V.
• Biosensors International
• Meril Life Sciences
• iVascular
• Teleflex Medical
• Becton, Dickinson and Company (BD)
• Merit Medical Systems
• Cardinal Health
Key segments covered in the market:
By Product:
• Coronary Stents
o Bare-Metal Stents (BMS)
o Drug-Eluting Stents (DES)
o Bioresorbable Stent (BRS)
• Angioplasty Balloons
o Drug-Eluting Balloons
o Old/Normal Balloons
o Scoring and Cutting Balloons
• Catheters
o Guiding Catheters
o Angiography Catheters
o Intravascular Ultrasound (IVUS)/Optical Coherence Tomography (OCT) Catheters
• Plaque Modification Devices
o Thrombectomy Devices
o Atherectomy Devices
• Structural Heart Devices
• Others
By End-User:
• Clinics
• Ambulatory Surgical Centers (ASCs) and Hospitals
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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