USD 12.91 billion
Report ID:
SQMIG35A2171 |
Region:
Global |
Published Date: July, 2024
Pages:
242
|Tables:
67
|Figures:
65
Interventional Cardiology Devices Market size was valued at USD 12.91 billion in 2019 and is poised to grow from USD 13.85 billion in 2023 to USD 24.34 billion by 2031, growing at a CAGR of 7.3% in the forecast period (2024-2031).
Interventional cardiologists are trained cardiovascular disease specialists. They are primarily concerned with the use of catheters, which are thin, flexible tubes used to carry out procedures. Angioplasty, stenting, and other procedures are carried out by directing equipment through the arteries of the body. For many people, these minimally invasive interventional procedures are an acceptable option to open surgery. These devices are primarily used to treat heart problems. It employs a single type of catheter that is inserted into the body and is used to treat cardiovascular diseases. This occurs as a result of hypertension, diabetes, and cardiovascular disease. In addition, these devices are used to treat peripheral vascular problems that affect the circulatory system and can give rise to plaque build-up in limb arteries. Catheters, balloons, stents, and filters are examples of interventional cardiology devices available on the market. The advancement of more advanced and innovative cardiovascular devices, and also the ease with which regulatory licences can be obtained are driving the market growth. However, various government regulations and stringent approval criteria may also limit growth of the business.
US Interventional Cardiology Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 12.91 billion
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
7.3% CAGR
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Global Interventional Cardiology Devices Market is segmented based on the product, end-user, and region. Based on product, global Interventional Cardiology Devices Market is segmented into angioplasty stents, structural heart devices, catheters, angioplasty balloons, plaque modification devices, hemodynamic flow alteration devices, and others. Based on end-user, global Interventional Cardiology Devices Market is segmented into ambulatory surgical centers, hospitals, and others. Based on region, Interventional Cardiology Devices Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Interventional Cardiology Devices Market Analysis by Product
Based on product, global interventional cardiology devices market is segmented into angioplasty stents, structural heart devices, catheters, angioplasty balloons, plaque modification devices, hemodynamic flow alteration devices, and others. The catheter segment is expected to lead the market during the forecast period followed by angioplasty stents, and angioplasty balloons, and it is also expected to grow at the fastest rate due to the increasing demand for minimally invasive surgery in the treatment of cardiovascular disease. Angiographic catheters, guiding catheters, and IVU/OCT catheters are all subdivided into this segment. Angiographic catheters account for the majority of the catheter market. Manufacturers are conducting extensive research and development in order to create new catheters that are functionally superior to their predecessors. The catheter segment is also growing due to the high prevalence of congenital and structural heart diseases.
Interventional Cardiology Devices Market Analysis by End-User
Based on end-user, global interventional cardiology devices market is segmented into ambulatory surgical centers, hospitals, and others. During the forecast period, hospitals are expected to lead the global market with the highest growth rate because advanced level instruments and treatment facilities are available with specialized consultants.
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North America is expected to lead the global interventional cardiology devices market throughout the forecast period due to the influence of advanced healthcare infrastructure, supportive government product development initiatives, and high patient awareness levels. According to the American Heart Association, by 2035, approximately 45% of the US population will be affected by heart disease as a result of factors such as high obesity, high smoking, and unhealthy lifestyles, which can cause a heart attack and other related issues. In addition, 1.5 million Americans are treated for diabetes each year in the United States alone. Incidence of diabetes is increasing primarily due to an increase in the geriatric population; it is guesstimated that 25% of all geriatric individuals (aged 60 and above) in the United States have diabetes.
Because of prevalence of overweight and changing lifestyle habits such as dietary irregularities, as well as an increasing number of global smokers, the United Kingdom in Europe is expected to hold the second-largest interventional cardiology devices market share.
Due to the increasing elderly and pediatric population, which is more likely to be exposed to coronary artery disease, Asia-Pacific is anticipated to emerge as the fastest growing region in the market during the forecast period. The convenience provided by these devices is driving Asia-Pacific market growth. Furthermore, increasing medical investment has contributed to the expansion of the regional market.
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Interventional Cardiology Devices Market Driver
Interventional Cardiology Devices Market Restraint
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Global interventional cardiology devices market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Interventional Cardiology Devices Market Top Player's Company Profiles
Interventional Cardiology Devices Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global interventional cardiology devices market analysis, the Asia Pacific region is expanding due to rising healthcare costs and a greater understanding of the affordability and practicality of cardiology medical devices. However, the availability of effective first-line treatments, high device costs, and stringent regulatory requirements may limit the market growth.
Report Metric | Details |
---|---|
Market size value in 2019 | USD 12.91 billion |
Market size value in 2031 | USD 24.34 billion |
Growth Rate | 7.3% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Interventional Cardiology Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Interventional Cardiology Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Interventional Cardiology Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Interventional Cardiology Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35A2171