Vancouver, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The global Interventional Cardiology Market is expected to reach USD 38.83 Billion by 2032, according to a new report by Emergen Research. The growth of this market can be attributed to the increasing initiatives of the government to improve the healthcare infrastructure with advanced diagnostic solutions. The government has increased the allocation of healthcare budgetary in developing countries, and it has also introduced several reimbursement policies to encourage the adoption of technologically advanced interventional cardiology devices.
The awareness programs launched by the various non-profit organization, academic institutions, and government regarding the coronary heart diseases and technologically advanced diagnostic solutions is a major contributing factor for the development of the industry in the emerging economies. Increasing investments in the research and development by the manufacturers for the production of more enhanced, accurate, and cost-effective technology will drive the market growth of the product over the forecast period.
The pandemic has caused a shortage of essential life-saving devices and medical supplies. It has severely disrupted the supply chain and raw material supplies. In order to meet the growing demand for the medical supplies in between the pandemic, manufacturers have increased their production capacity. The manufacturers are adopting safety regulations and preventive measures without hampering the manufacturing process.
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Scope of Research
| Report Details | Outcome |
| Market size value in 2019 | USD 15.50 Billion |
| CAGR (2023 - 2032) | 7.6% |
| Revenue forecast in 2032 | USD 38.83 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019-2021 |
| Forecast period | 2023-2032 |
| Quantitative units | Volume in Tons, Revenue in USD Thousand, and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, End User, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | Abbott Laboratories, Boston Scientific Corporation, Cordis Corporation, Medtronic Public Limited Company, Terumo Corporation, C.R. Bard, B. Braun, Ivascular, BIOTRONIK, and Biosensors |
| Customization scope | 10 hrs of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The Interventional Cardiology Market is moderately fragmented with a large number of small and medium-sized manufacturers, which account for a major part of the global share. The manufacturers are well-equipped with manufacturing facilities and are involved in several research & development activities.
Some of the prominent players in the Interventional Cardiology Market include:
- Abbott Laboratories
- Boston Scientific Corporation
- Cordis Corporation
- Medtronic Public Limited Company
- Terumo Corporation
- C.R. Bard
- B. Braun
- Ivascular
- BIOTRONIK
- Biosensors
Strategic Development
- In February 2017, the Argon Medical Devices' interventional cardiology devices were acquired by the Merit Medical systems. The acquisition would help the company enhance its brand profile and strengthen its position in the global market.
- In 2017, Abbott Laboratories launched XIENCE Sierra, a coronary stent system. The product has an unparalleled safety record, which lowers the probability of the artery being re-blocked.
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Key Highlights from The Report
- The Angioplasty stents dominated the market with a share of 40.3% in 2019 due to the innovation of technologically advanced stents such as bioabsorbable stents, which minimizes the artery blockages.
- The Hospital segment is expected to dominate the end user segment due to the development of the healthcare infrastructure with technologically advanced devices.
- North America accounted for the largest market share in the Interventional cardiology market in 2019 due to the increasing investments by the key manufacturers for product development and high healthcare expenditures.
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Emergen Research has segmented the global Interventional Cardiology Market on the basis of Product, End User, and region:
- Product Outlook (Revenue, USD Billion; 2019-2032)
- Catheters (Angiography Catheters, Guiding Catheters, IVUS Catheters)
- Angioplasty Balloons (Cutting Balloons, Normal Balloons, Drug-Eluting Balloons)
- Plaque Modification Devices
- Angioplasty Stents (Bioabsorbable stents, Drug-Eluting stents, Bare-Metal stents)
- Others (Guidewires, Balloon Inflation devices)
- End User Outlook (Revenue, USD Billion; 2019-2032)
- Cardiac Catheterization labs
- Hospitals
- Ambulatory surgical centers
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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