FELTON, California, May 7, 2018 /PRNewswire/ --
The global Interventional Cardiology Devices Market sizewas valued at USD 15.14 billion in 2013 and is anticipated to reach USD 25.16 billion by 2020. Global interventional cardiology devices market is expected to experience brisk growth due to rise
Interventional cardiology is numerous non-surgical processes for treating cardiovascular related problems. These procedures use flexible tubes and catheters thin to get way inside blood vessels to perform diagnostic test or to repair heart structures or other damaged vessels, often evading the need to have a surgical operation. Several devices used in these procedures include stent, PTCA balloon and catheters among several others. The diseases that are treated using interventional cardiology comprise coronary artery diseases, peripheral vascular disease and heart valve disease mainly.
Growth in geriatric population is expected to boost the market growth in the near future. Moreover increasing coronary artery disease is presumed to further propel the industry growth over the next eight year period Rise in demand for minimal procedures related with invasive angioplasty. Research and development across the world for technological advancement in order to achieve competitive advantage is estimated to further fuel the market demand over the forecast period. Development and innovation in interventional cardiology has resulted in increased efficiency thus is presumed to be a major factor to fuel the market demand over the next seven years period.
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These procedures are estimated to gain popularity in the near future owing to several advantageous properties such as minimal process time, reduce the requirement to perform surgery and several others. Interventional cardiology aid patients and makes the procedures to be performed less complex as it minimizes the scars risk, reduces pain and avoids extended post-operative recovery. Effective conventional first level medication availability in the market is presumed to hinder the market growth over the next eight year period. This industry requires huge initial investment which is expected to hamper the demand for interventional cardiology. Several cases related to product failure and product recall is estimated to restrain the demand for these procedures in the near future. Key opportunity for this market is expected to be the innovation and advancement in the bio-absorbable stents over the forecast period. Numerous emerging markets are expected to be major chance for the industry vendors to expand their sector over the next eight year period. Entry barriers in the industry for new players and varying reimbursements are expected to challenge the market growth in the near future.
Based on device type the market is segmented as Stents (drug metal stents, bare metal stents, & bio-absorbable stents), PTCA Balloons which include normal balloons, scoring balloons, cutting balloons & drug-eluting balloons, percutaneous transluminal coronary angioplasty guidewires, imaging systems such as IVUS (intravascular ultrasound), OCT (optical coherence tomography)&FFR (fractional flow reserve), and Catheters (angiography catheters, pulmonary artery catheters, guiding catheters & intravascular ultrasound (IVUS) catheters).
Key regional markets include North America, Europe, Central & South America, Middle East & Africa, and Asia Pacific. Developed regions such as Europe and North America are estimated to witness positive growth owing to research and development initiatives coupled with huge demand for rising cardiology diseases over the next eight year period. North America region has dominated the global market owing to highest adaption in recent past followed by Europe. These regions are expected to show positive growth in the near future. Developing regions such as Asia Pacific and Central & South
America are expected to experience rapid growth in industry owing to rising awareness, rise in disposable income and increase in coronary artery diseases. Emerging economies such as India and China are estimated to witness positive growth due to rise in demand for minimal invasive procedures over the next eight year period. Innovation and development in order to have best quality product is anticipated to further enhance the growth in this region in near future.
Vendors are investing on research and development to generate co-products which give them competitive advantage over other vendors and to provide economic benefits to this industry. Companies are investing heavily on research and development for improving the product quality. This industry requires huge initial investment. The companies are expected to take strong measures to gain market share and to deliver diversified product demand. Prominent industry participants St. Jude Medical, Inc., Terumo Medical Corporation, B. Braun Melsungen AG, Cook Medical, Abbott Laboratories, Inc., Boston Scientific Corporation, Cordis Corporation, Medtronic, plc, and Smiths Medical.
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