Delveinsight estimates Global Interventional Cardiology Devices Market was valued at USD 12.41 billion in 2020, growing at a CAGR of 6.53% during the forecast period from 2021 to 2026, to reach USD 18.36 billion by 2026
Factors like the growing prevalence of cardiovascular diseases (CVDs) in the rising geriatric population, technological advancements in product development, the increasing adoption rates of minimally invasive surgeries, and increasing awareness programs regarding cardiovascular diseases, are expected to drive the Interventional Cardiology Devices Market Growth in the coming years.
Globally, the key Interventional Cardiology Devices Companies with their products in various stages of development include Edwards Lifesciences, Abbott Laboratories, Boston Scientific Corporation, F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, Medtronic PLC, and others.
DelveInsight’s “Global Interventional Cardiology Devices Market Insights and Forecast” Report provides the current and forecasted market trends for the next five years, upcoming innovation in the devices, individual market shares, challenges, drivers & barriers, and key competitors in the market.
Interventional Cardiology Devices Overview
Interventional Cardiology Devices are devices that are used for the treatment of heart-related diseases. It comprises a branch of cardiology wherein catheter-based treatments such as coronary heart disease (CAD), aneurysm, and other disorders are involved. It is a non-surgical operation that is capable of using a small flexible tube known as the catheter for repairing the weakened and damaged vessels, narrowed arteries, and other affected regions in the heart. The catheter can perform the entire procedure after implementing the fluoroscopy technique.
The rising prevalence of ischemic heart diseases can lead to a boost in the overall interventional cardiology market. As per the data released by the National Institutes of Health and other government agencies, in the year 2020, globally around 126 million people are suffering from ischemic heart disease, thereby accounting for about 1.72% of the world’s entire population. As per the aforementioned source, the current prevalence rate comprising of 1,655 out of 100,000 population can be expected to increase to 1,845 by the year 2030.
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Interventional Cardiology Devices Market Insights
As per DelveInsight’s analysis, In terms of revenue share, North America dominates the global Interventional Cardiology Devices market and is expected to hold a significant market share during the forecast period. However, the domination exhibited by North America will be conspicuously challenged by the European market. According to DelveInsight’s Interventional Cardiology Devices Report, in the year 2020, around 34.2 million Americans are suffering from diabetes. Also, as per the aforementioned source, 88 million American adults are suffering from pre-diabetes. Therefore, owing to the rising prevalence of diabetes, there will be an increase in the demand for interventional cardiology devices leading to a rise in the overall interventional cardiology devices market growth during the forecasting period.
Also, there are great opportunities for market penetration for Asia Pacific regions as the major companies already have a grip in developed regions. Further, due to the increase in the prevalence of cardiovascular disorders and the presence of key players in Asia-Pacific regions, there is an increasing demand observed for interventional cardiology devices in these regions, thereby positively influencing the overall interventional cardiology device market. It has been estimated that over the last few years the prevalence of CVD in China has been increasing continuously and currently more than 290 million patients suffer with CVD. According to the World Heart Foundation, China has one of the highest CVD death rates in the world. Therefore, due to the rising prevalence of cardiovascular disorders in China, there will be an increasing demand for interventional cardiology devices, thereby driving the overall interventional cardiology market.
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Recent Breakthroughs In the Interventional Cardiology Devices Market
In recent years, the Interventional Cardiology Devices Market observed expansions in terms of clinical, commercial, and clinical development. Here are some of the breakthroughs in the segment –
- On June 01, 2020, Boston Scientific had launched the Directsense Technology in the United States. It is a tool that tends to monitor the effect of radiofrequency energy (RF) delivery when performing cardiac ablation procedures.
- On October 15, 2020, Abbott had announced the new late-breaking data with the help of two studies from the XIENCE Short DAPT program. The results had proven there were no differences between the short course of treatment via antiplatelet therapy in contradiction to the 12-month DAPT followed by XIENCE drug-eluting stent in patients undergoing a higher risk of bleeding.
- On August 27, 2020, Philips had announced the expansion of their image-guided therapy devices portfolio via the acquisition of Intact Vascular. It is a developer of minimally-invasive peripheral vascular procedures.
- On September 03, 2020, Abbott had announced the start of the clinical trial for evaluating the New Esprit BTK Drug-eluting resorbable scaffold.
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Key Players In the Interventional Cardiology Devices Market
Due to a very high prevalence of cardiovascular disorders, the Interventional Cardiology Devices Demand is growing at an immense rate globally and making it one of the most competitive domains in MedTech segment. Consequently, the high Interventional Cardiology Devices Demand is drawing significant attention from the key players. Currently, some of the key Interventional Cardiology Devices companies in the market include Edwards Lifesciences Corporation, Abbott Laboratories, Boston Scientific Corporation, ACIST Medical Systems, F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, Medtronic PLC., Teleflex Incorporated, B Braun Melsungen AG, MicroPort Scientific Corporation, SIS MEDICAL AG, Lepu Medical Technology Co. Ltd., Terumo Corporation, Sahajanand Laser Technology Limited, Biotronik SE & Co. KG and others.
Moreover, several new companies are also expected to enter the market in the coming years, which is anticipated to significantly transform the Interventional Cardiology Devices Competitive Landscape immensely.
Covid-19 Impact On Interventional Cardiology Devices Market
The market for Interventional Cardiology Devices had observed a period of stagnant growth owing to the outbreak of COVID-19. Due to the COVID-19 pandemic situation, all the other forms of elective procedures were temporarily stopped in contrast to the COVID-19 affected patients that were given utmost priority. Other factors such as lockdown restrictions, patient reluctance to visit the hospitals and clinics, logistical restrictions, and the closing down of manufacturing facilities have further affected the healthcare system
However, post COVID-19 the healthcare system is trying to get normalcy owing to the resumed patent visits, the opening of manufacturing facilities, leverage given in terms of lockdown restrictions among others. Apart from all these factors due to an increase in technologically advanced interventional cardiology devices, the demand for interventional cardiology devices is expected to rise in the market, further leading to a growth in the interventional cardiology devices market growth during the forecast period from 2021-to 2026. Additionally, the market has seen to attain normalcy as several patients suffering from COVID-19 were also suffering from comorbidities which included sudden cardiac arrest and require interventional cardiology devices; hence the pandemic has slightly influenced the demand for interventional cardiology devices.
To discuss more regarding the short/long-term impact of COVID-19, get a snapshot of the report Interventional Cardiology Devices Market Assessment.
Scope of the Interventional Cardiology Devices Market Report:
- Geography Covered: Global
- Study Period: 2021-2026
- Market Segmentation By Interventional Cardiology Product – Angioplasty Balloons [Drug-Eluting Balloons and Others], Angioplasty Stents [Drug-Eluting Stents, Bare-Metal Stents, and Bioabsorbable Stents], Structural Heart Devices [Aortic Valve Therapy Devices and Others], Catheters [Angiography Catheters, Guiding Catheters and IVUS/OCT Catheters], Plaque Modification Devices [Atherectomy Devices and Thrombectomy Devices], Hemodynamic Flow Alteration Devices [Embolic Protection Devices and Chronic Total Occlusion Devices], and Other Devices
- Key Interventional Cardiology Companies: Edwards Lifesciences Corporation (EW), Abbott Laboratories (ABT), Boston Scientific Corporation (BSX), ACIST Medical Systems, F. Hoffmann-La Roche Ltd (RHHBY), Siemens Healthcare GmbH (SMMNY), Medtronic PLC (MDT), Teleflex Incorporated (TFX), B Braun Melsungen AG, MicroPort Scientific Corporation (0853), SIS MEDICAL AG, Lepu Medical Technology Co. Ltd., Terumo Corporation (TRUMF), Sahajanand Laser Technology Limited, Biotronik SE & Co. KG and others.
- Market Segmentation By Geography – North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profile, Case Studies, KOL’s Views, Analyst’s View
- Analysis: The Interventional Cardiology Device market is expected to grow at a CAGR of 6.53% and will reach USD 18.36 billion by 2026.
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Interventional Cardiology Devices Market Key factors analysis |
| 5 | Interventional Cardiology Devices Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Interventional Cardiology Devices Market |
| 7 | Interventional Cardiology Devices Market Layout |
| 8 | Interventional Cardiology Devices Global Company Share Analysis – Key 3-5 Companies |
| 9 | Interventional Cardiology Devices Product Profiles and Key Companies |
To understand key companies related to the Interventional Cardiology Devices Market, get a snapshot of the Interventional Cardiology Devices Regulatory and Patent Analysis
Key Takeaways From the Interventional Cardiology Devices Market Report Study
- In-depth analysis of the Interventional Cardiology Devices Market size, share, and key trends.
- Comprehensive analysis for current Interventional Cardiology Devices Market size (2020), and market forecast for 5 years (2021-2026)
- The effect of the COVID-19 pandemic on the Interventional Cardiology Devices Market is significant. To capture and analyze suitable indicators, our experts are closely watching the Interventional Cardiology Devices Market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the Global Interventional Cardiology Devices Market.
- Various opportunities are available for the other competitors in the Interventional Cardiology Devices Market space.
- What are the top-performing segments in 2020? How these segments will perform in 2026.
- Which are the top-performing regions and countries in the current Interventional Cardiology Devices Market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Interventional Cardiology Devices market growth in the coming future?
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