Interventional Cardiology Devices Market Analysis Report 2022: A $16.11 Billion Market by 2030 - Increasing Prevalence of Coronary Artery Disease (CAD) and Rise in Patient Volumes

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Global Interventional Cardiology Devices Market

Global Interventional Cardiology Devices Market
Global Interventional Cardiology Devices Market

Dublin, Dec. 09, 2022 (GLOBE NEWSWIRE) -- The "Interventional Cardiology Devices Market Size, Share & Trends Analysis Report by Product (Coronary Stents, PTCA Balloon Catheters, Accessory Devices), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global interventional cardiology devices market size is expected to reach USD 16.11 billion by 2030, expanding at a CAGR of 3.7% from 2022 to 2030

Demand for interventional cardiology devices is on the rise owing to favorable reimbursement policies for coronary intervention procedures, the rising prevalence of cardiovascular diseases (CVDs) and diabetes across the globe, and the launch of new product lines in the market.

Cardiovascular diseases have become one of the major causes of mortality and morbidity in the world. Coronary artery disease and congenital heart defects are the major cardiovascular diseases that are prevalent across the globe.

Furthermore, the adoption of unhealthy lifestyles, such as smoking, a sedentary lifestyle, and improper diet, is responsible for diabetes.

Cardiac catheterization, angioplasty, and Percutaneous Coronary Intervention (PCI) are some of the major procedures used for the treatment of cardiovascular diseases. Since diabetes is one of the major reasons behind triggering cardiovascular diseases, increasing diabetes cases are expected to surge the demand for interventional cardiology devices over the forecast period.

Although the market is anticipated to expand over the coming years, it might witness slower growth possibly brought on by the high price of medical devices, especially in developing economies with insufficient insurance coverage.

Interventional Cardiology Devices Market Report Highlights

  • The coronary stents product segment dominated the market and accounted for a revenue share of over 35.0% in 2021. Stenting technology is increasingly being preferred over conventional balloon angioplasty owing to the introduction of advanced DES and evolving bioresorbable scaffolds

  • Technological advancements in coronary stents, such as the development of bifurcated stents and the use of biodegradable materials, have led to efficient and improved outcomes of CVD treatment. Companies are proactively involved in product developments and partnerships and strategic collaborations. The aforementioned factors are expected to propel industry growth over the forecast period

  • In 2021, Asia Pacific accounted for the largest revenue share of over 55.0% and it is expected that this trend will continue in the near future. This industry growth is fueled by factors including regulatory revisions, economic expansion, and notably favorable reimbursement in some nations such as Australia. The market is also being impacted by growing government spending on healthcare and new initiatives to introduce devices at affordable costs in cost-constrained countries such as India

  • The market is fragmented due to the presence of several players. This is expected to intensify the competition in the coming years. Market players are adopting various strategic initiatives such as partnerships, sales & marketing activities, mergers & acquisitions, service expansion, integrated offerings, and product launches to increase their market presence

Report Attribute

Details

No. of Pages

150

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$12.01 Billion

Forecasted Market Value (USD) by 2030

$16.11 Billion

Compound Annual Growth Rate

3.7%

Regions Covered

Global

Market Dynamics

Market Driver Analysis

  • Increase in Government Initiatives in Mature Markets

  • Rising Initiatives By Competitors

  • Rising Adoption of New Generation Devices

  • Increasing Prevalence of Coronary Artery Disease (CAD) And Rise In Patient Volume

Market Restraints Analysis

  • Capital Intensive Devices For Countries With Developing Healthcare Reimbursement Systems

  • Lack of Trained Physicians for New-generation Devices

Interventional Cardiology Device Market Analysis Tools: Porter's

PESTEL Analysis

COVID-19 Current and Future Impact Analysis

Company Profiles

  • Abbott

  • Medtronic

  • Boston Scientific Corporation

  • Terumo Corporation

  • B. Braun Se

  • Biotronik

  • Biosensors International Group, Ltd.

  • Koninklijke Philips N.V.

  • Teleflex Incorporated

  • Meril Life Sciences Pvt. Ltd.

  • Merit Medical Systems, Inc.

  • Becton, Dickinson and Company (Bd)

For more information about this report visit https://www.researchandmarkets.com/r/t4z4s2

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