Interventional Cardiology Devices Market size was valued at USD 15.14 billion in 2013 and is anticipated to reach USD 25.16 billion by 2020. Global interventional cardiology devices market is expected to experience brisk growth due to rise in heart related problems across the world over the forecast period. Increase in disposable income is presumed to complement the intervention cardiology market growth over the next eight year period.
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The key driving factors responsible for the growth of Interventional
Cardiology Devices market :
Interventional cardiology is
numerous non-surgical processes for treating cardiovascular related problems.
These procedures use flexible tubes and catheters thin to get way inside blood
vessels to perform diagnostic test or to repair heart structures or other
damaged vessels, often evading the need to have a surgical operation. Several
devices used in these procedures include stent, PTCA balloon and catheters among
several others. The diseases that are treated using interventional cardiology
comprise coronary artery diseases, peripheral vascular disease and heart valve
disease mainly.
Growth in geriatric population is
expected to boost the market growth in the near future. Moreover increasing
coronary artery disease is presumed to further propel the industry growth over
the next eight year period Rise in demand for minimal procedures related with
invasive angioplasty. Research and development across the world for
technological advancement in order to achieve competitive advantage is
estimated to further fuel the market demand over the forecast period.
Development and innovation in interventional cardiology has resulted in
increased efficiency thus is presumed to be a major factor to fuel the market
demand over the next seven years period.
These procedures are estimated to
gain popularity in the near future owing to several advantageous properties
such as minimal process time, reduce the requirement to perform surgery and
several others. Interventional cardiology aid patients and makes the procedures
to be performed less complex as it minimizes the scars risk, reduces pain and
avoids extended post-operative recovery. Effective conventional first level
medication availability in the market is presumed to hinder the market growth
over the next eight year period. This industry requires huge initial investment
which is expected to hamper the demand for interventional cardiology. Several
cases related to product failure and product recall is estimated to restrain
the demand for these procedures in the near future. Key opportunity for this
market is expected to be the innovation and advancement in the bio-absorbable
stents over the forecast period. Numerous emerging markets are expected to be
major chance for the industry vendors to expand their sector over the next
eight year period. Entry barriers in the industry for new players and varying
reimbursements are expected to challenge the market growth in the near future.
Based on device type the market
is segmented as Stents (drug metal stents, bare metal stents, &
bio-absorbable stents), PTCA Balloons which include normal balloons, scoring
balloons, cutting balloons & drug-eluting balloons, percutaneous transluminal
coronary angioplasty guidewires, imaging systems such as IVUS (intravascular
ultrasound), OCT (optical coherence tomography)&FFR (fractional flow
reserve), and Catheters (angiography catheters, pulmonary artery catheters,
guiding catheters & intravascular ultrasound (IVUS) catheters).
Key regional markets include
North America, Europe, Central & South America, Middle East & Africa,
and Asia Pacific. Developed regions such as Europe and North America are
estimated to witness positive growth owing to research and development
initiatives coupled with huge demand for rising cardiology diseases over the
next eight year period. North America region has dominated the global market
owing to highest adaption in recent past followed by Europe. These regions are
expected to show positive growth in the near future. Developing regions such as
Asia Pacific and Central & South
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