The global interventional cardiology market is expected to grow at a CAGR of over 7% during the period 2017-2021, according to Technavio’s latest market research.
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Technavio has published a new report on the global interventional cardiology market from 2017-2021. (Graphic: Business Wire)
In this market research report, Technavio covers the market outlook and growth prospects of the global interventional cardiology market for 2017-2021. The market is further categorized into six product segments, including coronary stents, percutaneous transluminal coronary angioplasty (PTCA) balloon catheters, interventional guidewires, intravascular imaging devices, left atrial appendage (LAA) closure devices, and atherectomy devices.
“Many hospitals and cardiac centers worldwide, particularly in the emerging countries, have highly skilled cardiologists. They are gradually opting for interventional techniques to treat various cardiovascular diseases because of their less-invasive nature,” says Bharath Palada, a lead cardiovascular devices research expert from Technavio.
Technavio’s healthcare and life sciences research analysts segment the global interventional cardiology market into the following regions:
- Americas
- EMEA
- APAC
In 2016, with a market share of over 44%, the Americas emerged as the market leader in the global interventional cardiology market, followed by EMEA with over 33% and APAC with close to 23%.
Interventional cardiology market in Americas
The interventional cardiology market in the Americas is projected to grow at a steady rate during the forecast period because of increased adoption of technologically advanced products. Also, the increase in interventional procedures in the US has increased the demand for interventional cardiology devices.
The growing awareness about CVDs such as coronary heart diseases (CHD) and peripheral vascular disease (PVD) has led many individuals to undergo regular tests and check-ups. Also, the incidence of hypertension in countries such as Canada and Brazil are gradually increasing, which is projected to boost the market during the forecast period.
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Interventional cardiology market in EMEA
EMEA is the second major revenue contributor for the global interventional cardiology market with the UK, France, Italy, Spain, and Germany being the top contributors. Currently, the market in these countries is witnessing a moderate growth rate. The increase in the population suffering from CVDs is the primary driver of the market.
Heart failure symptoms affect 23 million people globally, and Europe accounts for 10 million of them. The market in these countries is witnessing growth due to the growing adoption of MI surgeries, which enable faster patient recovery. Increased approval from the regulatory authorities and new product launches will boost market growth. Also, favorable reimbursement policies in Germany and the UK has brought significant growth to the market.
Interventional cardiology market in APAC
APAC is the fastest growing market for interventional cardiology devices, with a CAGR of close to 11%. The market is untapped in emerging countries, such as India, China, Indonesia, and Malaysia, because of an increase in the incidences of sudden heart failure and peripheral artery disease (PAD) in these countries. However, the growing adoption of preventive treatment in these regions will have a significant impact on the growth of this market.
“Moreover, the governments of several countries have initiated positive steps toward improving the status of the healthcare industry, which may boost the growth of the vascular stents market in APAC. The quick growth of the healthcare industry and improved diagnosis methods for CVDs will boost market growth in China,” says Bharath.
The top vendors in the global interventional cardiology market as highlighted in this market research analysis are:
- Abbott Vascular
- Boston Scientific
- Cordis
- Medtronic
- St. Jude Medical
Browse Related Reports:
- Global Vascular Guidewires Market 2016-2020
- Global Angioplasty Balloons Market 2016-2020
- Global Ventricular Assist Devices Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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