Interventional Cardiology Devices Market Size Expected to Reach USD 23.61 Billion, exhibiting a 7.1% CAGR by 2029

As per the report by Fortune Business Insights, the global interventional cardiology devices market size is projected to reach USD 23.61 Billion in 2029. The market size was valued USD 14.61 Billion in 2022, at a CAGR of 7.1% during the forecast period, 2022-2029

Pune, India, April 18, 2023 (GLOBE NEWSWIRE) — The global interventional cardiology devices market size was valued at USD 13.67 billion in 2021. The market is projected to grow from USD 14.61 billion in 2022 to USD 23.61 billion by 2029, exhibiting a CAGR of 7.1% during the forecast period. Prevalence of Cardiovascular Diseases (CVDs) such as coronary heart disease, stroke, and atrial fibrillation to propel the market progression. There is focus on the production and launch of advanced devices to meet the growing demand for minimally invasive devices. Fortune Business Insights™ shares this information in its report titled “Interventional Cardiology Devices Market, 2022-2029.”

Key Industry Development

• December 2022- Boston Scientific Corporation acquired a majority of share in Acotec Scientific Holdings. The acquisition will help Boston Scientific Corporation to expand its product portfolio and market in China.

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Report Scope:

Key Takeaways

• The North America market was valued at USD 4.66 billion in 2021.
• The rising number of diagnoses and treatments of coronary diseases among the population further propelled regional growth.
• The coronary stents segment is expected to lead this market during the forecast period.

Drivers and Restraints

Rising Number of Product Launches by Key Players to Fuel Market Progression

Rising number of product launches by the key players is anticipated to drive the interventional cardiology devices market growth. Developing nations such as China, India, and Brazil have a high number of cardiovascular diseases such as valvar defects and atrial stenosis, which lead to a high demand for interventional cardiology devices for treatment. Partnerships among major players to conduct several clinical trials on interventional devices are increasing. In March 2021, B. Braun SE partnered with Infraredx for the implementation of an Investigational Device Exemption (IDE) clinical trial for the SeQuent Please ReX drug-coated PTCA balloon catheter.

However, product defects are increasing across the globe representing serious health hazards, thereby hampering the market growth.

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Segments

Coronary Vascular Devices to Lead Due to Prevalence of Coronary Artery Diseases

On the basis of type, the market is divided into coronary vascular devices and structural heart devices. Coronary vascular devices segment is anticipated to have the dominant part due to the prevalence of coronary artery diseases. The structural heart devices segment is also estimated to have widening growth prospects due to rising prevalence of valvar devices.

Coronary Stents to Govern Owing to Rising Demand for Stents

Based on product, the market is categorized into coronary stents, heart valve therapy devices, angioplasty balloons, atherectomy devices, Intravascular Ultrasound (IVUS) Devices, and others. The coronary stents segment had a majority share in 2021 due to rising demand for stents across emerging nations such as China and India. Heart valve therapy devices segment is projected to have a higher CAGR owing to increasing awareness of non-invasive valvar surgeries.

Hospitals & Ambulatory Surgery Centers to Dictate Increasing Hospital Expenditures

Based on end-user, the market is categorized into hospitals & ambulatory surgical centers and clinics & others. Hospitals & ambulatory surgery centers segment dominated in 2021 due to increasing hospital expenditures and the number of hospitals performing interventional surgeries.

Based on region, the market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Regional Insights

North America to Lead Market Share Owing to Incidences of Coronary Heart Diseases

North America is anticipated to lead the interventional cardiology devices market share due to incidences of coronary heart diseases and increasing emphasis of key players on new products. In 2021, the market was valued at USD 4.66 billion due to increasing rate of diagnoses and treatments of coronary diseases.

Europe held a significant share in 2021 due to low-cost interventional devices. In 2021, according to Innovate Healthcare, it was reported that the cost of bare metal stents in Germany was around USD 120 as compared to USD 670 in the U.S.

Asia Pacific to have highest CAGR due to increasing number of minimally invasive procedures and rising clinical trials.

Competitive Landscape

Edwards Lifesciences Corporation Launched and Received the U.S. FDA Approval for SAPIEN 3 Ultra RESILIA Valve

Key interventional cardiology devices players are Edwards Lifesciences, Medtronic, and Abbott. In September 2022, Edwards Lifesciences Corporation launched and received the U.S. FDA approval for SAPIEN 3 Ultra RESILIA valve, which is used for heart valve replacement. Other market players have been focusing on R&D activities and developing technologically advanced products. The global presence of these key players and their distribution network across emerging nations are set to further propel market growth.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.

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List of Key Players Profiled in the Report

• Edward Lifesciences (U.S.)
• Boston Scientific Corporation (U.S.)
• Abbott (U.S.)
• Medtronic (Ireland)
• BIOTRONIK SE & Co. KG (Germany)
• iVascular (Spain)
• Terumo Corporation (Japan)
• Teleflex Incorporated (U.S.)
• B. Braun SE (Germany)
• Alvimedica (Turkey)

Major Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
  • Market Trends
• Key Insights
  • Prevalence of Cardiovascular Diseases, Key Countries/ Region, 2022     
  • Incidence of Atrial Fibrillation, By Key Regions / Countries, 2021/2022
  • Epidemiology: Stroke, By Key Regions/ Countries, 2021/2022
  • Number of Percutaneous Coronary Interventions Procedures, By Key Countries, 2021/2022
  • Recent Product Launches, By Key Players
  • Key Industry Developments – Mergers, Acquisition, and Partnerships
  • Impact of COVID-19 on the Market
• Global Interventional Cardiology Devices Market Analysis, Insights and Forecast, 2018-2029
  • Market Analysis, Insights and Forecast – By Type
    •  Coronary Vascular Devices
    •  Structural Heart Devices
  • Market Analysis, Insights and Forecast – By Product
    •  Coronary Stents
      • Drug-eluting Stent (DES)
      • Bare-metal Stent (BMS)
      • Others
    •  Heart Valve Therapy Devices
    •  Angioplasty Balloon
    •  Atherectomy Devices
    •  Intravascular Ultrasound (IVUS) Devices
    •  Others
  • Market Analysis, Insights and Forecast – By End User
    •  Hospitals & ASC’s
    •  Clinics & Others
  • Market Analysis, Insights and Forecast – By Region
    •  North America
    •  Europe
    •  Asia Pacific
    •  Latin America
    •  Middle East and Africa
• North America Interventional Cardiology Devices Market Analysis, Insights and Forecast, 2018-2029
  • Market Analysis, Insights and Forecast – By Type
    •  Coronary Vascular Devices
    •  Structural Heart Devices
  • Market Analysis, Insights and Forecast – By Product
    •  Coronary Stents
      • Drug-eluting Stent (DES)
      • Bare-metal Stent (BMS)
      • Others
    •  Heart Valve Therapy Devices
    •  Angioplasty Balloon
    •  Atherectomy Devices
    •  Intravascular Ultrasound (IVUS) Devices
    •  Others
  • Market Analysis, Insights and Forecast – By End User
    •  Hospitals & ASC’s
    •  Clinics & Others
  • Market Analysis, Insights and Forecast – By Country
    •   U.S.
      • By Type
    •  Canada
      • By Type

TOC Continued………

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