Vancouver, British Columbia, March 18, 2021 (GLOBE NEWSWIRE) -- The global interventional cardiology devices market size is expected to reach USD 26.84 Billion at a steady CAGR of 8.7% in 2028, according to latest analysis by Emergen Research. Steady revenue growth of the interventional cardiology devices market can be attributed to a rapidly increasing geriatric population, rising incidence of cardiovascular diseases and conditions such as hypertension, coronary heart disease, heart failure, and stroke. Additionally, according to a report published by the World Health Organization (WHO), cardiovascular disease occurrence in China has been projected to witness a 50% increase between 2010 and 2030 owing to a rapidly growing geriatric population. Risks of cardiovascular diseases increase around 40.0% in individuals in the age group of 40 to 59 years, 70% to 75% in individuals in the age group of 60 to 79 years, and 79% to 86% among individuals aged 80 years or over.
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Some Key Highlights in the Report
- In September 2019, Heraeus Medical Components announced its decision to purchase Via Biomedical, which is an outsourcing firm engaged in development, prototype design, and production of interventional medical devices.
- Among the product type segments, the catheters segment revenue is expected to increase at a significantly rapid growth rate during the forecast period, which can be attributed to various benefits provided by catheters in interventional cardiology, including reduced contrast agent use, fewer complications, and reduced hemostasis, thus improving patient safety, and enabling faster patient mobilization. Also, reduced hospital stay duration, decreased complications, and lesser use of contrast agents result in cost savings.
- Among the end-use segments, the ambulatory surgical centers segment revenue is expected to register a comparatively faster growth rate during the forecast period. Ambulatory surgical centers are cost-effective, highly efficient, and offer a convenient setting for interventional cardiology procedures.
- Interventional cardiology devices market revenue in Asia Pacific is expected to register the fastest revenue CAGR between 2021 to 2028, which can be attributed to presence of a large geriatric population base and growing prevalence of cardiovascular diseases. Additionally, rising disposable income and increasing healthcare expenditure in countries in the region are other key factors driving growth of the interventional cardiology devices Asia Pacific market.
- Key players in the market include Abbott Laboratories, Terumo Corporation, iVascular, Boston Scientific Corporation, Edwards Lifesciences Corporation, B.Braun Melsungen, Medtronic PLC, Koninklijke Philips NV, Biosensors International Group Ltd., and Endocor GmbH.
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Emergen Research has segmented the global interventional cardiology devices market on the basis of product type, end-use, and region:
- Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Angioplasty Stents
- Angioplasty Balloons
- Catheters
- Structural Heart Devices
- Plaque Modification Devices
- Guidewires
- Hemodynamic Flow Alteration Devices
- Others
- End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals
- Ambulatory Surgical Centers
- Others
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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