[309 Pages Report] Global demand for interventional cardiology devices is anticipated to record a CAGR of 8.4% during the forecast period (2022 to 2032). The interventional cardiology devices market is expected to be valued at US$ 16.4 Billion in 2022 and is likely to reach US$ 36.9 Billion by 2032.
The trajectory of interventional cardiology device adoption trends is on the rise owing to the numerous advantages associated with minimally invasive Neurosurgery, such as reduced surgical pain, injury, and faster recovery time when compared to conventional surgeries, thereby proving to be a viable alternative to open surgery.
The market is supported by:
Demand for interventional cardiology devices is expected to positively drive the market over the forecast period owing to the focus on extensive Research and Development by manufacturers to support the healthcare sector with prominent offerings.
People with diabetes are more likely to have other conditions that raise the risk of coronary heart disease. Risk factors, such as diabetes and hypertension, also fuel the demand for interventional cardiology devices.
| Attributes | Details |
|---|---|
| Interventional Cardiology Devices Market CAGR (2022 to 2032) | 8.4% |
| Interventional Cardiology Devices Market Value (2022) | US$ 16.4 Billion |
| Interventional Cardiology Devices Market Value (2032) | US$ 36.9 Billion |
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According to the American Heart Association, by 2035, around 45% of the US population is likely to suffer from heart disease due to factors like high obesity, high smoking, and unhealthy lifestyles, which may lead to heart attacks and other related issues.
In the USA alone, 1.5 million Americans are diagnosed with diabetes each year. Growth in diabetes prevalence can largely be attributed to the growth in the geriatric population; it is estimated that 25% of all geriatric individuals (aged 60 years and above) suffer from diabetes in the US (Source: ADA)
The presence of sophisticated healthcare infrastructure, favorable government product development initiatives, and high patient awareness levels are some of the key drivers for the interventional cardiology devices market growth in the region. Moreover, strategic initiatives by key players have also fueled market growth.
For instance, in June 2021, Abbott received the USA Food and Drug Administration’s approval for its XIENCE family of stents for its one-month dual-antiplatelet therapy (DAPT) labeled for high bleeding risk (HBR) patients in the USA.
Similarly, in March 2021, the USA Food and Drug Administration approved the first in the world non-surgical heart valve to treat pediatric and adult patients with a native or surgically repaired right ventricular outflow tract (RVOT), the part of the heart that carries blood out of the right ventricle to the lungs.
Manufacturers are working hard for research and development of innovative offerings to serve a large customer base and that will allow the interventional cardiology devices market to grow.
Hence, manufacturers are adopting strategies such as mergers & acquisitions to expand their global footprint and add disruptive packaging advancements to their product portfolio. Further, a number of international market participants are entering into acquisitions and mergers and implementing new technology to increase commercial capacity to gain a major revenue share.
For instance, in July 2021, Abbott launched its XIENCE family of stents, which received the US Food and Drug Administration’s (FDA) approval for one-month DAPT labeling for high-bleeding risk (HBR) patients in the USA. In addition, XIENCE stents recently received the CE Mark approval for DAPT in 28 days, thus, ensuring XIENCE stents have the shortest DAPT indication in the world.
The interventional cardiology devices market is expected to be valued at US$ 16.4 Billion in 2022 and is likely to reach US$ 36.9 Billion by 2032.
The trajectory of interventional cardiology device adoption trends is on the rise owing to the numerous advantages associated with minimally invasive surgeries, such as reduced surgical pain, injury, and faster recovery time when compared to conventional surgeries, thereby proving to be a viable alternative to open surgery.
In addition, the interventional cardiology devices market is growing due to technological advancements in the areas of vascular closure devices, coronary guidewires, and drug-eluting stents, which increase the efficiency of interventional cardiology devices.
Principal Consultant
COVID-19 has had a global impact on every aspect of the medical device industry, including the interventional cardiology devices market.
Despite the fact that emergency and outpatient services are available in cardiology departments, the number of patient visits to hospitals has decreased significantly in the last six months, in turn, negatively impacting the demand for interventional cardiology devices in several countries.
Patient visits have been significantly reduced as a result of nationwide lockdowns and social distancing measures and the same has resulted in even lower sales of interventional cardiology devices.
Many cardiology device companies, including Boston Scientific, Medtronic, and Abbott, have reported sales declines for the second and third quarters of 2020.
Diabetes and hypertension are primary risk factors that drive the demand for interventional cardiology devices.
Diabetes is more likely to be associated with other conditions that increase the risk of coronary heart disease, and high blood sugar levels can damage the blood vessels that control the heart over time, thereby spiking the sales of interventional cardiology devices.
The adoption of interventional cardiology devices is on the surge as diabetes prevalence is increasing due to an increase in the geriatric population; it is estimated that 25% of all geriatric individuals (aged 60 and above) in the USA have diabetes.
In addition, cardiology medical devices can be used to treat a variety of heart and artery problems, encouraging people from around the world to opt for the same.
Technological advancements have greatly boosted the interventional cardiology devices market share.
The rapid growth of the healthcare industry in developing countries has a positive impact on the interventional cardiology devices market growth, and the rising demand for minimally invasive treatment are the major factors fostering the interventional cardiology devices market key trends & opportunities.
One of the vital factors propelling the interventional cardiology devices market opportunities is advancements in developing-country healthcare facilities.
Favorable government initiatives for product development, as well as high patient awareness levels, augur well for the interventional cardiology devices market outlook.
There are cardiology medical device companies competing to launch advanced products for better treatment and have invested in research and development to improve their existing products and launch new platforms, and the same has facilitated the interventional cardiology devices market trends and forecasts.
However, a stringent regulatory environment and a lack of effective first-line treatments limit the interventional cardiology devices market growth.
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During the forecast period, the angioplasty stents segment is expected to advance at a CAGR of 8.0% in the global interventional cardiology devices market.
Increased cases of coronary artery disease and increased use of angioplasty stents, including bare metal, drug-eluting, and bio-absorbable stents, in surgical procedures, are all combinedly contributing to the segment’s high interventional cardiology devices market share.
Rising individual healthcare expenditures, as well as the growing elderly population, are some other major factors driving revenue growth in this segment.
Demand for minimally invasive procedures in developing countries, as well as the development of improved cardiology medical equipment, are also considered factors primarily influencing the segment’s growth.
| Regions | CAGR (2022 to 2032) |
|---|---|
| USA Market | 8.2% |
| UK Market | 7.5% |
| China Market | 7.8% |
| Japan Market | 6.7% |
| South Korea Market | 6.2% |
The US interventional cardiology devices market is likely to lead the market globally with a CAGR of 8.2% during the forecast period.
The presence of sophisticated healthcare infrastructure, favorable government product development initiatives, and high patient awareness levels are some of the key drivers for the interventional cardiology devices market growth in the region.
The US has a high consumption rate of premium-priced interventional cardiology devices, and it is the region that can accommodate a high rate of medical device innovation, thus holding a large interventional cardiology devices market share globally.
Relatively high healthcare expenditures in the region are also considered a vital factor in opening up a wide array of interventional cardiology device market opportunities in the region.
A few of the region's key cardiology medical device companies are developing novel products and technologies to compete with existing products, while others are acquiring and partnering with other companies trending in the market.
The UK is projected to hold the second-largest interventional cardiology devices market share on account of rising obesity rates and changing lifestyle habits such as dietary irregularities, and an increasing number of global smokers driving the rise in cardiovascular disease prevalence.
The expansion of these products in this region is also dependent on the reimbursement policies established by other individual European countries.
The interventional cardiology devices market growth in China, Japan, and South Korea is primarily due to the rising prevalence of cardiovascular disorders in both the geriatric and pediatric populations, rising awareness about the cost-effectiveness and convenience offered by cardiology medical devices, and rising healthcare expenditure levels.
The market for interventional cardiology devices is moderately competitive.
To secure their position in the global competitive market, various cardiology device companies are implementing strategies such as investment in Research and Development activities, forming alliances such as acquisitions and collaborations, and new product launches.
Key market players are attempting to gain a competitive advantage by capitalizing on untapped opportunities thereby enlarging their interventional cardiology devices market share.
Some of the recent developments in the interventional cardiology devices market are as follows:
The interventional cardiology devices market is projected to register a CAGR of 8.4% during the forecast period (2022 to 2032).
During the forecast period, the USA is expected to lead the interventional cardiology devices market with a CAGR of 8.2% through 2032.
Angioplasty Stents is expected to dominate the interventional cardiology devices market during the forecast period with a CAGR of 8.0% by the end of 2032.
The interventional cardiology devices market is poised to be worth US$ 36.9 Billion by 2032.
The interventional cardiology devices market size was valued at US$ 15.1 Billion in 2021.
1. Executive Summary | Interventional Cardiology Devices Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background and Foundation Data Points
4.1. Global Market (US$ Million)
4.2. Market Opportunity Assessment (US$ Million)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in Optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
4.4. Investment Feasibility Analysis
4.4.1. Investment in Established Markets
4.4.1.1. In Short Term
4.4.1.2. In Long Term
4.4.2. Investment in Emerging Markets
4.4.2.1. In Short Term
4.4.2.2. In Long Term
4.5. Forecast Factors - Relevance & Impact
4.5.1. Top Companies Historical Growth
4.5.2. Global Market Growth
4.5.3. Adoption Rate, by Country
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
4.6.2. Prominent Market Challenges and Impact Assessment
4.6.3. Market Opportunities
4.6.4. Prominent Trends in the Global Market & Their Impact Assessment
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032
6.1. Historical Market Analysis, 2015 to 2021
6.2. Current and Future Market Projections, 2022 to 2032
6.3. Y-o-Y Growth Trend Analysis
7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ Million) Analysis, 2015 to 2021
7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Product
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Million) Analysis By Product, 2015 to 2021
8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Product, 2022 to 2032
8.3.1. Angioplasty Balloons
8.3.1.1. Old/Normal Balloons
8.3.1.2. Drug-eluting Balloons
8.3.1.3. Cutting and Scoring Balloons
8.3.2. Angioplasty Stents
8.3.2.1. Drug-eluting Stents
8.3.2.2. Bare-metal Stents
8.3.2.3. Bioabsorbable Stents
8.3.3. Structural Heart Devices
8.3.3.1. Aortic Valve Therapy Devices
8.3.3.2. Other Therapy Devices
8.3.4. Catheters
8.3.4.1. Angiography Catheters
8.3.4.2. Guiding Catheters
8.3.4.3. IVUS/OCT Catheters
8.3.5. Plaque Modification Devices
8.3.5.1. Atherectomy Devices
8.3.5.2. Thrombectomy Devices
8.3.6. Hemodynamic Flow Alteration Devices
8.3.6.1. Embolic Protection Devices
8.3.6.2. Chronic Total Occlusion Devices
8.3.7. Other Devices
8.3.7.1. Guidewires
8.3.7.2. Vascular Closure Devices
8.3.7.3. Introducer Sheaths
8.3.7.4. Hemostasis Valves
8.3.7.5. Balloon Inflation Devices
8.4. Market Attractiveness Analysis By Product
9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region
9.1. Introduction
9.2. Historical Market Size (US$ Million) Analysis By Region, 2015 to 2021
9.3. Current Market Size (US$ Million) & Analysis and Forecast By Region, 2022 to 2032
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. Asia Pacific
9.3.5. Middle East and Africa (MEA)
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
10.1. Introduction
10.2. Pricing Analysis
10.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
10.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
10.4.1. By Country
10.4.1.1. United States of America
10.4.1.2. Canada
10.4.2. By Product
10.5. Market Attractiveness Analysis
10.5.1. By Country
10.5.2. By Product
11. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
11.1. Introduction
11.2. Pricing Analysis
11.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
11.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
11.4.1. By Country
11.4.1.1. Brazil
11.4.1.2. Mexico
11.4.1.3. Rest of Latin America
11.4.2. By Product
11.5. Market Attractiveness Analysis
11.5.1. By Country
11.5.2. By Product
12. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
12.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
12.4.1. By Country
12.4.1.1. Germany
12.4.1.2. France
12.4.1.3. United Kingdom
12.4.1.4. Italy
12.4.1.5. Benelux
12.4.1.6. Nordic Countries
12.4.1.7. Rest of Europe
12.4.2. By Product
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Product
13. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
13.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
13.4.1. By Country
13.4.1.1. China
13.4.1.2. Japan
13.4.1.3. South Korea
13.4.1.4. Rest of Asia Pacific
13.4.2. By Product
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Product
14. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
14.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
14.4.1. By Country
14.4.1.1. GCC Countries
14.4.1.2. South Africa
14.4.1.3. Turkey
14.4.1.4. Rest of Middle East and Africa
14.4.2. By Product
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Product
15. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.1.1. Market Value Proportion Analysis, By Key Countries
15.1.2. Global Vs. Country Growth Comparison
15.2. US Market Analysis
15.2.1. Value Proportion Analysis by Market Taxonomy
15.2.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.2.2.1. By Product
15.3. Canada Market Analysis
15.3.1. Value Proportion Analysis by Market Taxonomy
15.3.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.3.2.1. By Product
15.4. Mexico Market Analysis
15.4.1. Value Proportion Analysis by Market Taxonomy
15.4.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.4.2.1. By Product
15.5. Brazil Market Analysis
15.5.1. Value Proportion Analysis by Market Taxonomy
15.5.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.5.2.1. By Product
15.6. Germany Market Analysis
15.6.1. Value Proportion Analysis by Market Taxonomy
15.6.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.6.2.1. By Product
15.7. France Market Analysis
15.7.1. Value Proportion Analysis by Market Taxonomy
15.7.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.7.2.1. By Product
15.8. Italy Market Analysis
15.8.1. Value Proportion Analysis by Market Taxonomy
15.8.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.8.2.1. By Product
15.9. BENELUX Market Analysis
15.9.1. Value Proportion Analysis by Market Taxonomy
15.9.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.9.2.1. By Product
15.10. UK Market Analysis
15.10.1. Value Proportion Analysis by Market Taxonomy
15.10.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.10.2.1. By Product
15.11. Nordic Countries Market Analysis
15.11.1. Value Proportion Analysis by Market Taxonomy
15.11.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.11.2.1. By Product
15.12. China Market Analysis
15.12.1. Value Proportion Analysis by Market Taxonomy
15.12.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.12.2.1. By Product
15.13. Japan Market Analysis
15.13.1. Value Proportion Analysis by Market Taxonomy
15.13.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.13.2.1. By Product
15.14. South Korea Market Analysis
15.14.1. Value Proportion Analysis by Market Taxonomy
15.14.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.14.2.1. By Product
15.15. GCC Countries Market Analysis
15.15.1. Value Proportion Analysis by Market Taxonomy
15.15.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.15.2.1. By Product
15.16. South Africa Market Analysis
15.16.1. Value Proportion Analysis by Market Taxonomy
15.16.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.16.2.1. By Product
15.17. Turkey Market Analysis
15.17.1. Value Proportion Analysis by Market Taxonomy
15.17.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
15.17.2.1. By Product
15.17.3. Competition Landscape and Player Concentration in the Country
16. Market Structure Analysis
16.1. Market Analysis by Tier of Companies
16.2. Market Concentration
16.3. Market Share Analysis of Top Players
16.4. Market Presence Analysis
16.4.1. By Regional Footprint of Players
16.4.2. Product Footprint by Players
17. Competition Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Competition Deep Dive
17.3.1. Medtronic
17.3.1.1. Overview
17.3.1.2. Product Portfolio
17.3.1.3. Sales Footprint
17.3.1.4. Strategy Overview
17.3.2. Boston Scientific Corporation
17.3.2.1. Overview
17.3.2.2. Product Portfolio
17.3.2.3. Sales Footprint
17.3.2.4. Strategy Overview
17.3.3. Abbott
17.3.3.1. Overview
17.3.3.2. Product Portfolio
17.3.3.3. Sales Footprint
17.3.3.4. Strategy Overview
17.3.4. Edward Lifesciences Corporation
17.3.4.1. Overview
17.3.4.2. Product Portfolio
17.3.4.3. Sales Footprint
17.3.4.4. Strategy Overview
17.3.5. Cardinal Health
17.3.5.1. Overview
17.3.5.2. Product Portfolio
17.3.5.3. Sales Footprint
17.3.5.4. Strategy Overview
17.3.6. iVascular
17.3.6.1. Overview
17.3.6.2. Product Portfolio
17.3.6.3. Sales Footprint
17.3.6.4. Strategy Overview
17.3.7. B. Braun Melsungen
17.3.7.1. Overview
17.3.7.2. Product Portfolio
17.3.7.3. Sales Footprint
17.3.7.4. Strategy Overview
17.3.8. Terumo Corporation
17.3.8.1. Overview
17.3.8.2. Product Portfolio
17.3.8.3. Sales Footprint
17.3.8.4. Strategy Overview
17.3.9. Biosensors International Group
17.3.9.1. Overview
17.3.9.2. Product Portfolio
17.3.9.3. Sales Footprint
17.3.9.4. Strategy Overview
17.3.10. BIOTRONIK SE & Co. KG
17.3.10.1. Overview
17.3.10.2. Product Portfolio
17.3.10.3. Sales Footprint
17.3.10.4. Strategy Overview
18. Assumptions and Acronyms Used
19. Research Methodology
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Interventional Cardiology Devices Market
