Interventional Cardiology Devices Market Growth, Global Survey, Analysis, Share, Company Profiles and Forecast by 2027
Reports And Data
The rise in geriatric population, bioresorbable vascular scaffolds, developments in interventional cardiology devices
NEW YORK, NEW YORK, UNITED STATES, September 21, 2021 /EINPresswire.com/ -- The global interventional cardiology devices market is forecast to reach USD 28.67 Billion by 2027, according to a new report by Reports and Data. Interventional cardiology can be defined as a branch of cardiology that focuses specifically on the treatment of structural heart diseases, based on catheters. It is contrary to noninvasive or preventive treatments such as lifestyle changes and most imaging techniques, wherein this method of treatment mainly deals with more invasive treatments, involving stenting and catheters. Previously open-heart surgery was considered as the only option for care users having narrowing aortic heart valve or at a high risk of aortic stenosis. The fact that this form of cardiovascular treatment is a non-surgical option has resulted in its growing popularity, which in turn is boosting the demand for interventional cardiology devices. Furthermore, growing geriatric population and developments in interventional cardiology devices are some of the factors further propelling the growth of the market.In context to region, Europe can be seen to occupy a prominent market share. The increasing occurrence rate of lifestyle diseases, continuous growth in the geriatric population, and expansion of the healthcare sector are some of the factors supporting the growth of the market in this region.
Top Companies Profiled in the Report Include:
Abbott, Terumo Medical Corporation, Medtronic Inc., Boston Scientific Corporation, B Braun Melsungen, Johnson & Johnson, Ivascular, C. R. Bard, Terumo Corporation and Biotronik.
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Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Interventional Cardiology Devices market in these key regions.
Further key findings from the report suggest
• The Interventional Cardiology Devices market held a market share of USD 15.49 Billion in the year 2018 that is forecasted to grow at a rate of 7.1% during the forecast period.
• In context to Product Type, the Stents segment generated the highest revenue of USD 8.52 Billion in the year 2018, with a growth rate of 7.4% during the forecast period. The extensive application of the cardiology devices in angioplasty procedures, wherein it is applied in more than 70% of these procedures, contributes to the revenue generated by this segment. A combination of stenting and angioplasty helps in enhancing the quality of life, particularly when performed after a heart attack, also contributes to its high acceptance and recommendation among care service providers.
• In context to Application, the Coronary angioplasty segment can be seen to generate the highest revenue of USD 4.34 Billion in 2018, with a growth rate of 7.3% during the forecast period. The high incidence rate of coronary artery diseases and applicability of angioplasty and associated devices in the treatment of the condition contributes to the revenue generated by this segment.
• In context to End-user, the Hospital segment is dominating that generated the highest revenue of USD 8.67 Billion in 2018, with a CAGR of 7.2% during the forecast period. The revenue generated by the segment is resultant of an increasing rate of hospitalization associated with cardiovascular diseases and elevated demand for interventional cardiology devices for providing treatment to these care users in hospitals.
• In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 8.1% during the forecast, which is expected to hold 0% of the market by 2027. The growth rate witnessed by the region is resultant of developing healthcare infrastructure and increasing incidence rate of cardiovascular diseases in this region.
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For the purpose of this report, Reports and Data have segmented the global Interventional Cardiology Devices market according to Product Type, End-user, Application, and Region:
Product Type Outlook (Revenue, USD Billion; 2016-2027)
• Intravascular Ultrasound (IVUS) Catheters
• Stents
• PTCA Guidewires
• Balloon Inflation Device
• PTCA Balloons
End-user Outlook (Revenue, USD Billion; 2016-2027)
• Homecare Setting
• Hospital
• Ambulatory surgical centers
• Clinic
• Others
Application Outlook (Revenue, USD Billion; 2016-2027)
• Coronary angioplasty
• Congenital heart defect correction
• Valvuloplasty
• Percutaneous valve repair
• Percutaneous valve replacement
• Coronary thrombectomy
• Others
Country-wise regional analysis covers:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
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