The global Interventional Cardiology Devices Market is anticipated to reach around USD 25.2 billion by 2020. High incidence of heart related disorders can directly impact product demand over the forecast period (2012 to 2020). Valvuloplasty, angioplasty, and coronary thrombectomy are procedures that need such devices. Key industry drivers are popularity of minimally invasive surgeries and unhealthy lifestyles that trigger the onset of cardiovascular anomalies. Also, rising cases of congenital heart diseases may positively impact the overall market in the years to come. The use of novel devices and new drug therapies in treating cardiovascular disorders has led to higher life expectancy and better quality of life of patients. According to the World Health Organization (WHO), number of deaths caused by cardiovascular disorders is expected to be nearly 23.3 million by 2030.
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The worldwide Interventional Cardiology Devices Market is segmented on the basis of products and regions. On the basis of products, the divisions are balloon inflation devices, PTCA balloons, stents, PTCA guidewires, and interventional cardiology catheters. With a market share exceeding 70%, interventional cardiology catheters dominated the global industry in 2013. Application of novel technologies that lower the risks of post-operative complications and restenosis in angioplasty is a key factor that drives this segment. Different types of stents are bio-absorbable, drug eluting, and metal. Bare metal stents have helped in lowering the rates of restenosis by around 20 to 25 percent.
However, owing to greater effectiveness, bio-absorbable & drug eluting stents are increasingly being used in place of bare metal stents. The bio-absorbable stents segment may register the highest growth rate in the forecast period. This is attributed to increasing awareness about the benefits of such stents, such as their ability to lower the possibility of restenosis. Catheters are a rapidly growing product segment because these are utilized extensively in minimally invasive medical procedures. Due to the high incidence of cardiovascular disorders, demand for angioplasty catheters may surge in the forthcoming years. This segment is propelled by technological advancements, widespread patient awareness, and prevalence of structural & congenital heart ailments.
Geographically, the global interventional cardiology devices market is categorized into Europe, North America, Asia Pacific, and Rest of the World. With shares surpassing 35%, North America dominated the overall industry in 2013. Widespread awareness in advanced economies and the presence of large pediatric & geriatric populations are key regional drivers. According to the American Heart Association, nearly 22% of the pediatric population belonging to the 6 to 17 years age group suffers from cardiovascular disorders. This owes to the prevalence of obesity in the region. Asia Pacific can expand at the highest CAGR over the forecast period because of popularity of minimally invasive procedures that ensure quick recoveries and cause minimal trauma to patients.
Key companies in the worldwide interventional cardiology devices industry are Boston Scientific, Abbott Laboratories, Terumo Medical Corporation, B. Braun Melsungen AG, and Cordis Corporation among others. In December 2016, Boston Scientific launched the SYNERGY stent. This product has been approved by the US FDA for use in the treatment of coronary artery disease. It is the first ever stent that offers synchronized polymer & drug absorption. It enables complete & rapid arterial healing and thus lowers the risks of complications pertaining to long term polymer exposure.
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