Percutaneous Coronary Intervention Market is a non-invasive procedure used to treat narrowing arteries of the heart in coronary artery diseases including angina, acute myocardial infarction, and multivessel coronary artery disease (CAD), among others. PCI procedure involving cardiac catheterization help in providing relief in the symptoms of coronary heart diseases and reduce damages to the heart after or during a heart attack.
In recent years, the growing prevalence of chronic diseases related to heart, globally, the percutaneous coronary intervention market is growing at a rapid pace. Moreover, the increasing adoption of PCI procedures performed on patients with coronary artery disease is escalating the market constantly.
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Considering all these factors, the Global Percutaneous Coronary Intervention Market is expected to reach over USD 15,205 million by 2023, growing at approximately 7.10% CAGR during the forecast period (2018-2023). The market stood at USD 10,160.9 million in 2017.
In addition to the growing prevalence of coronary heart diseases, the ever-increasing population worldwide and the increasing demand for the quality healthcare systems are factors expected to propel market volume till 2023.
Moreover, risk factors causing the heart-related diseases such as the increasing inclination towards the heady & sedentary lifestyle, and wrong eating habits, and changes in the social system over the last few years have been accelerating the market growth, increasing the incidents of the disease related to the heart.
However, the stringent government regulations for the approval of medical devices used in PCI alongside the lack of awareness towards the availability of percutaneous coronary intervention procedure may hinder the market growth over the forecast period. Also, the potential implications in diagnosis such as the infection caused during the procedure that can be challenging to diagnose and may have severe consequences are affecting the market growth.
Global Percutaneous Coronary Intervention Market – Key Players
Key players profiled in the report are
- Abbott Vascular
- Svelte Medical
- Medtronic Plc.
- Boston Scientific
- Cardiac Dimensions
- Edwards Lifesciences
Global Percutaneous Coronary Intervention Market – Segmentation
The Global Percutaneous Coronary Intervention Market has been segmented on the basis of product type and end-user.
Various product types are segmented into coronary stents, percutaneous transluminal coronary angioplasty (PTCA) catheters, coronary guidewires, and accessories. Among these, the subsegment coronary Stent accounted for the largest share of 54% share in 2017. It was valued at USD 5452.5 million in the same year. It is further projected to grow at a CAGR of 7.81% during the forecast period.
By End-user, the market has been segmented into hospitals & specialty clinics, ambulatory surgical centers, research & academic institutes, and others. Out of these, the subsegment hospitals & specialty clinics accounted for 43% of the market share in 2017 and valued at USD 4,374.9 million. The subsegment is estimated to continue with its dominance registering a CAGR of 7.57% over the assessment period. The large share can be credited to the mushrooming of hospital chains amid increasing demands for quality patient care.
Global Percutaneous Coronary Intervention Market – SWOT Analysis
- Growing research and development.
- High product development especially technological advanced products
- High cost of treatment.
- Risk of complications and infections.
- Growing income
- Low elasticity of demand
- Rise of heart specialty hospital
- Growing awareness against fast and fatty food
Global Percutaneous Coronary Intervention Market – Regional Analysis
US accounts for the maximum market share of the global percutaneous coronary intervention market and the market is expected to increase continuously in coming years. This can be attributed to increasing pool of awareness and the growing acceptability of percutaneous coronary intervention. Advancing technologies within the percutaneous coronary intervention such as advanced silicone and polymer implants is also driving the market. However, there is a definite shift of Percutaneous Coronary Intervention Market to Asia pacific and Latin America with the most active part played by medical tourism industry.
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