- The interventional cardiology devices market was predicted to have a size of about USD 8.7 billion in 2013. It is projected to attain around USD 11.2 billion in terms of income by 2022. The market is likely to rise at about 3 percent CAGR during 2014 to 2022. Interventional cardiology refers to catheter-based technologies and surgeries that involve minimal invasiveness and have various advantages.
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The devices used in such technologies and surgeries are known as interventional cardiology devices. Some of the benefits associated with these devices are shorter stays at hospitals, decreased costs, shorter recuperation time, less body cuts and less complexities post surgery. These advantages work really well for the interventional cardiology devices market and steer it ahead.
The significant drivers of the global interventional cardiology devices market include rising surgeries involving minimal invasiveness, growing heart disorders and widespread technological innovations. Minimally invasive surgeries have been augmenting on account of their advantages. Hence, expansive demand for novel products displaying higher efficiency and accuracy is also projected to drive the interventional cardiology devices market forward.
Non-contagious illnesses have boosted due to poor living styles, surplus salt consumption, high tobacco and alcohol consumption and lack of physical exercise. These factors, together with surging dietary inconsistencies and obesity and high blood pressure cases have also led to increased cardiac disorders. This in turn has propelled the demand for the interventional cardiology devices market.
Technological advancements in the sector of cardiac stents have added major income to the global market. Intensifying stress and high cholesterol levels have also caused cardiac illnesses, thereby fuelling the interventional cardiology devices market further. The market is bifurcated on the strength of two categories. These are products and geographical regions.
Stents leaded the interventional cardiology devices market in 2013. They captured nearly 71 percent of the worldwide income. Their high utilization, in combination with advanced technologies accounts for their size. Stents encompass drug eluting, bare metal and bio-absorbable. Those situated in the coronary artery to clear blockages are gaining wide popularity.
Catheters are acknowledged as one of the most rapidly growing products in the interventional cardiology devices market. This is on account of the amplified demand for cardiovascular surgeries involving minimal invasiveness. Angiography catheters occupy prime share in the sector of catheters. Heightening structural and congenital heart disorders and enhanced consciousness regarding cardiac illnesses are likely to further the sales of angiography catheters.
North America dominated the interventional cardiology devices market in 2013. The region captured the biggest share of more than 35 percent. It was propelled by high-tech medical infrastructure, supportive governmental initiatives and boosting patient consciousness. Europe accounted for the second biggest region. It was mainly driven by augmented obesity incidences, dietary inconsistencies and poor living styles.
The Asian Pacific interventional cardiology devices market is expected to gain imperative shares in the years ahead. This is in view of the growing pediatric and elderly population susceptible to cardiac illnesses in the region. The rising ease and cost efficacy factors of these devices are also expected to steer further demand for this region.
Information Source: Grand View Research
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