Percutaneous Coronary Intervention Guidance Devices Market Revenue to Cross USD 23.5 billion by 2031, Expanding at a 6.1% CAGR: TMR Report

Wilmington, Delaware, United States, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The percutaneous coronary intervention guidance devices market was estimated to have acquired US$ 12.2 billion in 2021. It is anticipated to register a 6.1% CAGR from 2022 to 2031 and by 2031 the market is likely to gain US$ 23.5 billion.

The demand for PCI treatments, which require guiding devices to assure the procedure's precision and efficacy, is increasing as cardiovascular disorders are becoming more common. Cardiovascular disorders including coronary artery disease as well as heart attacks are becoming more common as the population ages and poor lifestyle choices grow.

In turn, this is increasing demand for PCI procedures. During surgical operations, PCI guiding devices give doctors real-time information that improves patient outcomes.

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Global Percutaneous Coronary Intervention Guidance Devices Market: Key Players

Key firms are expanding their footprint and gaining market dominance through mergers and acquisitions, strategic alliances, and new product releases.

The following companies are well-known participants in the global percutaneous coronary intervention guidance devices market:

• Abbott
• Boston Scientific Corporation
• Medtronic
• Johnson & Johnson Services, Inc.
• Terumo Corporation
• Biosensors International Group, Ltd.
• B. Braun SE
• Cordis
• Meril Life Sciences Pvt. Ltd.
• CONMED Corporation
• Koninklijke Philips N.V.
• Emirates Health Services (EHS)

Key developments in the global percutaneous coronary intervention guidance devices market are:

Key Findings of Market Report

• The technological developments that are most likely to speed up market growth are the incorporation of artificial intelligence (AI) and machine learning (ML) to improve image analysis and diagnosis accuracy, the development of bioresorbable scaffolds (BRS) to reduce restenosis, and the introduction of hybrid closure devices to lower vascular complications and improve procedural efficiency.
• The market for PCI guiding devices is also anticipated to increase due to the advancement of Fractional Flow Reserve (FFR) wire & sensor technology and the incorporation of wearable technologies to monitor patients and enhance post-procedural care.

Market Trends For Percutaneous Coronary Intervention Guidance Devices

• The guide catheters segment dominated the market for percutaneous coronary intervention guiding devices in 2021. This can be attributed to guide catheters' capacity to offer secure and effective access to coronary arteries.
• The popularity and use of guide catheters in PCI procedures has grown as a result of improvements in their design and technology, such as enhanced trackability and stability. The market is benefiting from a growth in the prevalence of cardiovascular disorders, the number of PCI procedures performed globally, and the aging population.

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Global Market for Percutaneous Coronary Intervention Guidance Devices: Regional Outlook

Various reasons are propelling the growth of the percutaneous coronary intervention guidance devices market in different countries. These are:

• In 2021, North America led the global market for percutaneous coronary intervention guiding devices. The region's supremacy in the world may be attributed to its well-developed healthcare infrastructure, high prevalence of cardiovascular disorders, and presence of important key actors.
• The market for PCI guidance devices in North America is also being driven by favorable payment rules for PCI procedures and an increase in the desire for less invasive treatments, including PCI, among healthcare practitioners.
• Throughout the projected period, it is anticipated that the Asia Pacific percutaneous coronary intervention guidance devices market would expand quickly. Market growth in the Asia Pacific region is being driven by increased knowledge of cutting-edge medical technology and their advantages.
• The incidence of age-related cardiovascular illnesses is rising as a result of an aging population and a rise in the number of hospitals and clinics, particularly in India and China, which is enhancing the marketplace in the Asia Pacific region.
• In 2021, Europe accounted for a sizable portion of the worldwide market for percutaneous coronary intervention guiding devices. The rising prevalence of cardiovascular disorders, improvements in medical technology, and a rise in healthcare spending are driving the industry in the area.
  

Global Percutaneous Coronary Intervention Guidance Devices Market Segmentation

• Product
  • Percutaneous Sheath Introducers
  • Guide Catheters
  • Guidewires
  • Others
• Indication
  • Myocardial Infarction
  • Acute Coronary Syndrome
  • Others
• End-user
  • Hospitals
  • Ambulatory Surgical Centers
  • Others
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
    

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