Tag Archives: Interventional Cardiology Devices Market

Interventional Cardiology Devices Market: their impact and future predictions

Interventional Cardiology DevicesCoronary artery bypass surgery (CABG) was discovered around 50 years ago as a surgical procedure of treating coronary complications. Since then, CABG has remained one of the most commonly administered surgical procedures to treat coronary complexities such as ischemia and multi-vessel coronary artery disease (CAD). However, with technological advances in the healthcare sector, demand for CABG has registered a continuous decrease. The emergence of technologies such as interventional cardiology has ushered in a new era of minimally invasive coronary surgeries.

Interventional Cardiology Devices Market to Reach US$11.2 billion in 2020

Interventional cardiology is a catheter-based minimally invasive surgery that offers a myriad advantages such as minimal incision, reduced post-surgical complications, lesser expenditure, and shorter hospital stay and shorter recovery time. Owing to such advantages, the demand for interventional cardiology devices has exhibited a steady rise. A market study published by Transparency Market Research states that the global interventional cardiology devices market will demonstrate a 2.9% CAGR between 2014 and 2020. The market is likely to reach US$11.2 billion in 2020 as against its market valuation of US$8.7billion in 2013.

High Incidence of Coronary Artery Diseases (CAD) to Boost Global Market

Expanding global geriatric population, coupled with rising incidence of coronary artery diseases, are the primary factors driving the global interventional cardiology devices market. Adherence to hazardous habits and lifestyle patterns such as smoking, unhealthy diet, and hectic schedules has led to rise in obesity and dietary irregularities, the two most common causes of coronary artery diseases.Studies have revealed that in Europe alone, CAD accounts for 1.9 million deaths every year. It has been observed that 1 individual among 5 in Europe dies as a result of coronary artery diseases. The ailment is also one of the most common causes of premature deaths. Studies indicate that the high prevalence of the disease will boost the demand for PCIs or percutaneous coronary interventions. This will aid the interventional cardiology devices market to gain momentum

Demand for Bioabsorbable Stents Likely to Increase

Among the most commonly used interventional cardiology devices, including catheters, stents, PTCA guidewires, PTCA balloons, and others, stents accounted for the largest share in the market in 2013. The stents market is sub-categorized into drug eluting stents, bioabsorbable vascular stents, and bare metal stents. Of these, drug eluting stents (DES) enjoyed dominance in the market in 2013. The incumbent trends indicate continuous growth in demand for drug eluting stents in the forthcoming years. High rate of recovery observed in patients using drug eluting stents compared to metal stents has significantly contributed to the high demand for DES. However, in the next couple of years, the DES segment is likely to lose its market share to bioabsorbable vascular stents (BVS). Complete absorption of stent material into the bloodstream is possible in BVS, which significantly reduces the chances of late-stent restenosis. Owing to such factors, the BVS segment in the interventional cardiology devices market is likely to register the fastest growth in the near future.

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North America Leads the Global Interventional Cardiology Devices Market

The global interventional cardiology devices market can be classified into North America, Latin America, Asia Pacific, Europe, Middle East and North America, and Rest of the World. North America led the global interventional cardiology devices market. Europe and Asia Pacific were the second and third largest interventional cardiology devices market respectively. The market opportunities in Asia Pacific is largely untapped, this along with rising healthcare expenditure will help the interventional cardiology market in the region gain tremendous momentum.

Some of the leading players in the market include Boston Scientific Corporation, Abbott Laboratories, Inc., B. Braun Melsungen AG, Abbott Laboratories, Inc., Medtronic, plc, Boston Scientific Corporation, Smiths Medical, Cordis Corporation, St. Jude Medical, Inc., Cook Medical, and Terumo Medical Corporation. Key players in this market compete against each other to obtain enhanced market share and sustain the same in the near future.

 

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Growth in Interventional Cardiology Devices Market Leads to Targeted Solutions

Coronary artery bypass surgery (CABG) was invented 50 years ago for the treatment of complex ischemia and multi-vessel coronary artery disease (CAD). However, CABG procedures (according to the studies conducted by the NCBI) is witnessing decline due to evolution of interventional techniques. Interventional cardiology is a minimally invasive catheter based technology that enables treatment of coronary artery disease. Minimally invasive surgeries have advantages such as shorter hospital stay, reduced cost, minimal incision, less post-surgical complications and shorter recovery time. Geriatric population and rising prevalence of coronary artery diseases are the prime reasons driving the growth of global interventional cardiology. Rising prevalence of lifestyle habits such as smoking, rising incidence of obesity, and dietary irregularities are responsible for the growth of cardiac artery disease prevalence in the world. In Europe, CAD accounts for 1.9 million deaths each year. Moreover, 1 individual in 5 (21% men, 22% women) dies from coronary artery disease in the Europe. The disorder is also one of the most common causes of premature deaths (aged <65 years) and accounts for 401,000 deaths in Europe each year. Hence, high prevalence of coronary artery diseases would increase demand for percutaneous coronary interventions (PCIs), which in turn would propel the growth of the interventional cardiology devices market.

The global interventional cardiology devices market has been estimated based on various device types: stents, catheters, percutaneous transluminal coronary angioplasty (PTCA) balloons, percutaneous transluminal coronary angioplasty (PTCA) guide wires, and other accessories. The stents segment held the largest share of the market in 2013 which is further subdivided into bare metal stents, drug eluting stents and bio-absorbable vascular stents. Coronary stents are used for variety of coronary artery diseases including bifurcation lesions, small lesions and narrow lesions. Coronary stents have improved the clinical outcome for all the approved indications and quality life of patients. Drug eluting stents accounted for the largest market share of the overall interventional cardiology devices market in 2014 and continues to be the leader during the forecast period. The leadership of DES segment was primarily attributed to improved patient outcome as compared to bare metal stents and reduced need for repeated interventions. Rising prevalence of coronary artery disease and requirement of effective therapies for the reducing the rate of restenosis would also fuel the market growth.

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Percutaneous transluminal coronary angioplasty (PTCA) balloons have been subdivided into normal balloons, cutting balloons, scoring balloons, and drug eluting balloons. Normal balloons accounted for the largest share of PTCA balloons market and would continue to dominate the market during the forecast period as well. The growth of this segment has been attributed to the increasing volume of stents in emerging countries and first mover advantage as compared to other types of balloons. The imaging systems interventional cardiology devices market is further categorized into intravascular ultrasound (IVUS) systems, fractional flow reserve (FFR) systems, and optical coherence tomography (OCT) systems. Intravascular ultrasound (IVUS) imaging system held majority share of the market in 2013. IVUS has emerged as an effective diagnostic tool over traditional angiography for the diagnosis of atherosclerosis. The system provides detailed cross sectional view of coronary artery and also enables optimal choice of appropriate angioplasty technique for better deployment of stents.

Geographically, the interventional cardiology devices market has been categorized into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East and North Africa, and Rest of the World (RoW). North America dominated the global interventional cardiology devices market followed by Europe owing to the continued adoption of premium priced drug eluting stents and rising incidence of cardiovascular diseases. Asia Pacific was the third largest market for interventional cardiology devices, the region is expected to register the fastest CAGR during the forecast period. Large untapped opportunities, improving health care infrastructure, increasing prevalence of coronary artery disease, expansion of market players, and rising geriatric population in the region would contribute to the market growth.

Abbott Laboratories, Inc., B. Braun Melsungen AG, Boston Scientific Corporation, Cook Medical, Cordis Corporation, Medtronic, plc, St. Jude Medical, Inc., Smiths Medical, and Terumo Medical Corporation are the major players operating in the global interventional cardiology devices market. Most of these players are constantly striving to retain or enhance their market share by developing technologically advanced products.

Interventional Cardiology Devices Market to Stand at US$11.2 bn by 2022, Bioabsorbable Vascular Stents to be Enormous Opportunity

According to a latest study by Transparency Market Research (TMR), the global interventional cardiology devices market will firmly remain on the growth track thanks to the rising incidence of coronary artery disease, but the impact of this growth will be softened to some degree by a decrease in the average selling price of stents, a key product in the market. The report, published under the title, “Interventional Cardiology Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022,” by Transparency Market Research, finds that the market’s valuation was US$8.7 bn in 2013, and will rise to US$11.2 bn by 2022, at a 2.9% CAGR through the forecast period.

Browse the full Interventional Cardiology Devices Market: (By Types: Stents, Catheters, PTCA Balloons, PTCA Guidewires, Imaging Systems and Others): Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022 report at http://www.transparencymarketresearch.com/interventional-cardiology-devices.html

For the most part, the growth of the interventional cardiology devices market will result organically via regular product launches and innovative improvements to existing products”, says a senior TMR analyst.The report segments the global interventional cardiology devices market on the basis of product type and criteria. Based on product type, the market has been segmented into: percutaneous transluminal coronary angioplasty (PTCA) balloons, catheters, stents, percutaneous transluminal coronary angioplasty (PTCA) guidewires, interventional cardiology systems, and other accessories.

In 2013, the stents formed the largest product segment in the global interventional cardiology devices market, thanks to the appreciable share held by drug eluting stents in the global market. For the purpose of an in-depth analysis, the report segments stents into drug eluting stents, bare metal stents, and bio-absorbable vascular stents.

Drug eluting stents represented the largest share in the market for interventional cardiology devices worldwide in 2013. Until 2022, the drug eluting stents segment is expected to remain in the leading position in the interventional cardiology devices market by product type based on the former’s demonstrated positive patient outcomes. However, the DES segment is expected to lose market share owing to the growing popularity of bio-absorbable stents. Bioabsorbable vascular stents will report the fastest growth rate over the forecast period given their ability to prevent complications such as late-stent and in-stent restenosis.

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Although this will slow down the growth rate of the DES segment, it will still continue to remain in a dominant position. Improved patient outcomes of drug eluting stents will remain the key factor fuelling their uptake.The catheters segment is sub-segmented into guiding catheters, angiography catheters, intravascular ultrasound (IVUS) catheters, and pulmonary artery catheters. The PTCA balloons segment is sub-segmented into scoring balloons, normal balloons, cutting balloons, and drug-eluting balloons. The report analyzes the largest and fastest-growing sub-segments under each of these segments.

The report covers the state of the interventional cardiology devices market in the following regional markets: North America, Asia Pacific, Europe, MENA, Latin America, and Rest of the World (RoW). In 2013, North America was the leader in the interventional cardiology devices market, with Europe taking second place. Asia Pacific stood as the third largest regional market in the same year, but is forecast to report the fastest rate of growth over the next few years.

Company profiles of leading market players form a crucial part of the report, especially for clients wanting to track the competition. For this purpose, the following companies have been profiled based on details such as product pipeline, recent M&A activity, financial status, and a SWOT analysis: St. Jude Medical, Inc., Abbott Laboratories, Inc., Terumo Medical Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Cordis Corporation, Cook Medical, Medtronic, plc, and Smiths Medical.

Interventional Cardiology Devices Market to Reach US$11.2 Billion by 2022 due to Increasing Incidence of Coronary Artery Diseases

A new report has been published by Transparency Market Research, titled “Interventional Cardiology Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022”. TMR, a market intelligence company based in the U.S., states that the global interventional cardiology devices market was estimated at US$8.7 billion in 2013, is expanding at a CAGR of 2.9% from 2014 to 2022, and is predicted to reach US$11.2 billion in 2022.As per the TMR report, it was about 50 years ago that coronary artery bypass surgery (CABG) was developed for treating multi-vessel coronary artery disease (CAD) and complex ischemia. Interventional cardiology is defined as a minimally invasive catheter-based technology and minimally invasive surgeries have several benefits such as reduced cost, shorter hospital stay, minimal incision, shorter recovery time, and less post-surgical complications. These benefits are helping growth of the interventional cardiology devices market.

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According to this TMR report, on the basis of device type, the global market for interventional cardiology devices market is segmented into: catheters, stents, percutaneous transluminal coronary angioplasty (PTCA) guide wires, percutaneous transluminal coronary angioplasty (PTCA) balloons, and others.Amongst these, the biggest share was held by the stents segment. Stents are further bifurcated into drug eluting stents, bare metal stents, and bioabsorbable vascular stents. Amongst these, in 2014, the drug eluting stents held the biggest market share in the global market for interventional cardiology devices and is set to govern the market through the forecasting horizon.The TMR report states that the increasing incidence of coronary artery diseases and increasing geriatric population are amongst the major reasons stimulating the development of the global interventional cardiology market. Rising incidence of factors such as obesity, smoking, and dietary irregularities are responsible for the rising prevalence of cardiac artery diseases.

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Nonetheless, CABG procedures are experiencing a decline because of the evolution of interventional techniques, as per the studies directed by the NCBI. In Europe, CAD is responsible for about 1.9 million deaths every year, of which more than 400,000 are premature deaths. Thus, the disease is a key cause of premature deaths in Europe. Therefore, the increased occurrence of coronary artery diseases will rise demand for percutaneous coronary interventions, which would boost the development of the market for interventional cardiology devices.As per this TMR research report, this market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East and North Africa, and Rest of the World (RoW). North America led the market for global interventional cardiology devices, trailed by Europe, due to the consistent implementation of drug eluting stents, which are premium priced.

Asia Pacific stood as the third biggest market for interventional cardiology devices. This region is predicted to record the highest CAGR through the forecasting horizon. Developing healthcare infrastructure and rising occurrence of coronary artery disease will stimulate the development of this market in the region.Key players in the interventional cardiology devices market include Cordis Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, Cook Medical, St. Jude Medical, Inc., Medtronic, plc, Terumo Medical Corporation, and Smiths Medical.

Browse the full Interventional Cardiology Devices Market: (By Types: Stents, Catheters, PTCA Balloons, PTCA Guidewires, Imaging Systems and Others): Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022 report at http://www.transparencymarketresearch.com/interventional-cardiology-devices.html