Industry Insights - Interventional cardiology devices are suited for procedures such as angioplasty, coronary thrombectomy and valvuloplasty. Cardiovascular disease has become the most dominant cause of mortality and morbidity in the world during the last three decades. The prevalence of cardiovascular diseases has a direct impact on the growth of the interventional cardiology devices market and therefore, growing prevalence of these diseases is expected to drive market growth during the forecast period. According to a report published by the W.H.O (World Health Organization) cardiovascular diseases will cause approximately 23.3 million deaths by 2030. Rising prevalence of unhealthy and changing lifestyle habits, such as consumption of high salt, lack of physical activities, smoking and excessive alcohol consumption is responsible for the growth of cardiovascular disease prevalence in the world. According to U.S. CDC (Centers for Disease Control and Prevention) report in 2011, congenital heart defects are the most common birth defects in the U.S., affecting approximately 1% of the births every year.
The treatment of cardiovascular disorders has changed dramatically due to the introduction of new interventional devices like guidewires, stents allowing the patient to live better quality and longer lives. As per American Heart Association, approximately 7.5 million cardiovascular intervention surgeries have been executed in U.S. alone and this growth has been fueled due to the presence of Stents, guidewires and angioplasty balloons. The GuardWire manufactured by PercuSurge, Inc. is a specialized coronary guidewire with an elastomeric balloon mounted at the tip. The global interventional cardiology devices market is dominated by few players such as Johnson and Johnson, Boston Scientific, Abbott Laboratories and Medtronic Inc. The presence of large untapped opportunities in interventional devices segment encourages new market players such as Terumo Medical to enter this market by developing products with technologically advanced features and capitalize on the available opportunities.
View All Report About Interventional Cardiology Devices Market With TOC:
Product Insights
Interventional cardiology devices based stents market dominated the overall product segment of interventional cardiology devices market in 2013 at over 70.0%. Presence of novel technologies to minimize the risk of restenosis and post-surgical complications in angioplasty procedures are the positive impact rendering drivers. Bare metal stents, drug eluting stents and bio-absorbable stents are the segments of stents market. Bare metal stents were introduced to reduce restenosis rates to 20% to 25%. However, technological advancements in the forms of drug-eluting and bio-absorbable stents have rapidly replaced bare metal stents on the grounds of higher efficacies. Bio-absorbable stent is expected to grow at the highest CAGR in the coming six years owing to growing awareness about benefits associated with these stents such as lower rates of restenosis are expected to drive the overall interventional cardiology devices market throughout the forecast period.
Regional Insights
North America accounted for the largest share of the overall interventional cardiology devices market in 2013 at over 35% in 2013. Presence of large bases of geriatric and pediatric population and high awareness levels in developed countries are some primary factors attributing to its large share. As per American Heart Association, around 22% of the pediatric population between 6 to 17 years of age suffers from cardiac problems due to obesity. Asia Pacific market is expected to grow at the highest CAGR during the forecast period owing to increasing demand for minimally invasive interventions as these procedures result in fewer traumas to the patient and quicker recovery than invasive procedures such as open heart surgery. In addition, high unmet medical needs, improving healthcare infrastructure, rising patient disposable incomes and growing health care expenditures in emerging countries such as China and India are expected to drive interventional cardiology devices market during the forecast period.
About Hexa Research:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
