Interventional Cardiology Devices Market, By Device (Angiography Catheters, IVUS, PTCA Guidewires, Guiding Catheters, Balloon Inflation Devices, Stents), By End User (Hospitals, Clinics, Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published In : Sep 2020

Code : CMI691

Pages :173

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges And Opportunities

Global Interventional Cardiology Devices Market: Drivers

High prevalence of cardiovascular diseases is expected to propel growth of the global interventional cardiology devices market over the forecast period. For instance, according to the American Heart Association's Heart and Stroke Statistics 2019 Update, around 48% of all adults in the U.S. suffered from some type of cardiovascular disease in 2016.

Moreover, increasing demand for minimally invasive procedures is also expected to aid in growth of the global interventional cardiology devices market. Minimally invasive surgeries suit the patient’s preferences due to the following factors:

Less post-surgery complications and side effects
Shorter patient recovery span and minimal pain

Global Interventional Cardiology Devices Market: Restraints

Complications associated with interventional cardiology procedures are expected to hinder growth of the global interventional cardiology devices market. Interventional cardiology surgeries are associated with complications as listed below:

Stent thrombosis: formation of blood clots around the stent
Restenosis: Recurrence of stenosis (abnormal narrowing of an artery) post the corrective surgery
Some of the stents are metallic objects and prohibit the performance of an MRI scan.

Moreover, stringent approval norms and government regulations are also expected to limit the market growth. Interventional cardiology devices are categorized as high risk class III medical devices by the FDA and CE. This complicates the device approval process and makes the approval process long, stringent and expensive.

Global Interventional Cardiology Devices Market: Opportunities

Increasing geriatric population is expected to offer lucrative growth opportunities for players in the global interventional cardiology devices market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.

Moreover, adoption of remote PCI procedure is also expected to aid in growth of the global interventional cardiology devices market. For instance, in December 2018, five patients located at the Apex Heart Institute in Ahmedabad, India, underwent an elective PCI procedure from a distance of roughly 20 miles (32km) away, using CorPath technology.