[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
