Dublin, Nov. 26, 2024 (GLOBE NEWSWIRE) -- The "Interventional Cardiology Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030" report has been added to ResearchAndMarkets.com's offering.
The interventional cardiology devices market was valued at USD 13.21 billion in 2023, growing at a CAGR of 6.53% during the forecast period from 2024 to 2030, to reach USD 19.31 billion by 2030.
The demand for interventional cardiology devices is primarily being boosted by the growing prevalence of cardiovascular diseases (CVDs). The rising geriatric population which is more prone to developing heart disease and increasing R&D activities and technological innovations by key players to develop advanced devices are the key factors that are driving the growth of the interventional cardiology devices market during the forecast period from 2024 to 2030.
Interventional Cardiology Devices Market Dynamics:
The increasing prevalence of cardiovascular diseases is expected to drive substantial market growth for interventional cardiology devices. According to data published by the British Heart Foundation in September 2024, approximately 640 million people globally were affected by heart and circulatory diseases, with these numbers anticipated to rise in the coming years. The same source notes that around 67 million individuals are diagnosed with heart or circulatory diseases each year, highlighting a growing market opportunity and demand for innovative interventional products.
Data from the Centers for Disease Control and Prevention (CDC) published in May 2024 revealed that 371,506 people died from coronary artery disease in the United States in 2022. Interventional cardiology devices offer targeted solutions for arterial blockages by inflating within the artery to compress plaque and expand the vessel, thereby restoring optimal blood flow, enhancing vascular function, and significantly reducing mortality associated with coronary artery blockages.
The growing geriatric population is also a key driver of market expansion, as age-related degeneration and stiffness of blood vessels increase the risk of heart disease. The United States Census Bureau estimated that in 2020, there were 414 million people aged 65 and older, with projections suggesting this number could reach 1.2 billion in the Asia-Pacific region by 2060. This rising demographic, increasingly prone to heart disease, is contributing to heightened demand for interventional cardiology devices and effective cardiovascular solutions.
Key players in the market are focusing on advancing and commercializing cutting-edge technologies. For instance, in May 2023, Robocath launched the R-One+ robotic platform, designed to enhance the precision of coronary angioplasties performed by interventional cardiologists. This innovative solution not only improves procedural accuracy but also protects the medical team from radiation exposure during angioplasty. The integration of such advanced technologies into interventional cardiology devices is expected to significantly propel market growth.
However, challenges such as complications associated with these devices - such as infection and bleeding - along with limited availability in developing countries, may pose constraints to the growth of the interventional cardiology devices market. Addressing these issues will be crucial for maximizing market potential in the future.
Interventional Cardiology Devices Market Segment Analysis:
In the interventional cardiology devices market, the angiography catheters segment is projected to account for the largest market share. This growth is primarily driven by the increasing prevalence of coronary artery diseases (CAD) and heightened awareness of the benefits of early diagnosis. According to data from the British Heart Foundation published in September 2024, coronary heart disease affected an estimated 250 million people globally, while peripheral arterial (vascular) disease impacted around 110 million people in 2021.
Angiography catheters are vital for diagnosing and visualizing coronary arteries and their blockages, playing a crucial role in the treatment of CAD. These catheters provide high-resolution imaging of blood vessels, enabling accurate diagnosis of various vascular conditions. They also offer real-time visualization of blood flow and vessel structure, significantly enhancing diagnostic precision and operational efficiency. The advantages of angiographic catheters are expected to drive robust growth in this market segment.
Key players are advancing the field with innovative AI-integrated angiography systems that enhance catheterization for cardiac disease treatment. For instance, in April 2022, Shimadzu Corporation launched the Trinias system, which leverages artificial intelligence to improve the visibility of medical devices during procedures. This state-of-the-art system supports catheterization procedures, allowing for precise dilation of blood vessels during angiographic examinations and other interventional procedures.
Consequently, the extensive application of angiographic catheters in diagnosing and treating cardiovascular diseases, coupled with ongoing product development by leading players, is expected to significantly contribute to the growth of this segment, thereby driving the overall expansion of the interventional cardiology devices market during the forecast period.
North America is expected to dominate the overall interventional cardiology devices market:
North America is poised to dominate the interventional cardiology devices market during the forecast period, outpacing other regions. This anticipated growth is largely attributed to the rising prevalence of cardiovascular diseases within the region. Key factors contributing to this trend include an increasing geriatric population, heightened awareness among patients about cardiovascular health, and a surge in research and development (R&D) activities by major industry players.
According to recent data from the Centers for Disease Control and Prevention (CDC) in 2024, approximately 4.9% of adults in the United States were diagnosed with coronary heart disease (CHD) in 2022. Furthermore, physician offices across the country reported about 13 million annual visits related to coronary atherosclerosis and chronic ischemic heart disease. Interventional cardiology devices, such as drug-eluting stents (DES), are specifically designed to maintain artery patency following angioplasty procedures. By delivering medication directly to the arterial wall, DES effectively inhibit restenosis (the re-narrowing of the artery), thereby reducing the risk of future cardiac events. The widespread adoption of these advanced devices for diagnosing and treating cardiac diseases is expected to significantly drive market growth in the region.
Increased patient awareness is another crucial factor fueling market expansion. As understanding of cardiovascular health and available interventional treatments grows, more individuals are seeking medical attention for heart-related issues. For instance, February is recognized as American Heart Month, with National Wear Red Day celebrated on the first Friday of February each year. Supported by various organizations, this annual event aims to raise awareness about heart disease, the leading cause of death in the United States. Such initiatives emphasize the importance of heart health and encourage individuals to pursue timely medical interventions, further driving the utilization of interventional cardiology devices.
Key industry players in North America are heavily investing in R&D activities to develop advanced products and strengthen their market positions. For example, in March 2024, Boston Scientific Corporation received U.S. Food and Drug Administration (FDA) approval for its AGENTT drug-coated balloon (DCB). This innovative product features a paclitaxel-coated balloon catheter designed to deliver a precise therapeutic dose of medication directly to the vessel wall in patients with coronary artery disease. The targeted drug delivery mechanism of the AGENTT DCB aids in preventing in-stent restenosis (ISR), thereby enhancing the effectiveness of vascular interventions and improving long-term patient outcomes. Such product development initiatives by key players are expected to significantly propel market growth in the region.
Interventional Cardiology Devices Market Key Players:
Some of the key market players operating in the interventional cardiology devices market include Edwards Lifesciences Corporation, Abbott Laboratories, Boston Scientific Corporation, ACIST Medical Systems, F. Hoffmann-La Roche Ltd, Siemens Healthineers AG, Medtronic, Teleflex Incorporated, B. Braun SE, MicroPort Scientific Corporation, SIS MEDICAL AG, Lepu Medical Technology (Beijing) Co., Ltd., Terumo Corporation, Sahajanand Laser Technology Limited, Biotronik SE & Co. KG, Cordis, Biotronik, Merit Medical Systems, Koninklijke Philips N.V., Cook Medical, and others.
Key Takes Away From the Interventional Cardiology Devices Market Report Study
- Market size analysis for current market size (2023), and market forecast for 6 years (2024 to 2030)
- Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years.
- Key companies dominating the Interventional Cardiology Devices Market.
- Various opportunities are available for the other competitors in the Interventional Cardiology Devices Market space.
- What are the top-performing segments in 2023? How these segments will perform in 2030.
- Which are the top-performing regions and countries in the current market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Interventional Cardiology Devices market growth in the coming future?
Key Topics Covered:
1. Interventional Cardiology Devices Market Report Introduction
2. Interventional Cardiology Devices Market Executive Summary
3. Competitive Landscape
4. Regulatory Analysis
5. Interventional Cardiology Devices Market Key Factors Analysis
5.1. Interventional Cardiology Devices Market Drivers
5.1.1. Growing prevalence of cardiovascular diseases (CVDs)
5.1.2. Rising geriatric population
5.1.3. Increasing R&D activities and technological innovations by key players
5.2. Interventional Cardiology Devices Market Restraints and Challenges
5.2.1. Complications associated with these devices
5.2.2. Limited availability of these devices in developing countries
5.3. Interventional Cardiology Devices Market Opportunity
5.3.1. Development of bioresorbable material
5.3.2. Integration of artificial intelligence to enhance minimally invasive procedures
6. Interventional Cardiology Devices Market Porter's Five Forces Analysis
7. Interventional Cardiology Devices Market Assessment
7.1. By Product
7.1.1. Angioplasty Balloons
7.1.1.1. Drug-Eluting Balloons
7.1.1.2. Others
7.1.2. Angioplasty Stents
7.1.2.1. Drug-Eluting Stents
7.1.2.2. Bare-Metal Stents
7.1.2.3. Bioabsorbable Stents
7.1.3. Structural Heart Devices
7.1.3.1. Aortic Valve Therapy Devices
7.1.3.2. Others
7.1.4. Catheters
7.1.4.1. Angiography Catheters
7.1.4.2. Guiding Catheters
7.1.4.3. IVUS/OCT Catheters
7.1.5. Plaque Modification Devices
7.1.5.1. Atherectomy Devices
7.1.5.2. Thrombectomy Devices
7.1.6. Hemodynamic Flow Alteration Devices
7.1.6.1. Embolic Protection Devices
7.1.6.2. Chronic Total Occlusion Devices
7.1.7. Others
7.2. By Geography
8. Interventional Cardiology Devices Market Company and Product Profiles
- Edwards Lifesciences
- Abbott Laboratories
- Boston Scientific
- ACIST Medical Systems
- F. Hoffmann-La Roche
- Siemens Healthineers
- Medtronic
- Teleflex
- B. Braun
- MicroPort Scientific
- SIS MEDICAL
- Lepu Medical Technology (Beijing) Co.
- Terumo Corporation
- Sahajanand Laser Technology
- Biotronik
- Cordis
- Biotronik
- Merit Medical Systems
- Koninklijke Philips
- Cook Medical
For more information about this report visit https://www.researchandmarkets.com/r/r5wtn5
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