Interventional Cardiology Market - Forecasts from 2019 to 2024

The global interventional cardiology market is expected to reach US$25.092 billion by 2024 from US$19.069 billion in 2018 growing at a CAGR of 4.68%. Interventional cardiology is a minimally invasive procedure which utilizes catheter to repair damaged or weakened vessels, narrowed arteries, or other affected parts of the heart structure. Catheters are medical devices consisting of thin tubes that can be inserted into the body to serve a broad range of functions. Interventional cardiology also helps to avoid surgery with treatments like angioplasty and valve repair or replacement. The interventional cardiology market is expected to show robust during the forecast period owing to the rising adoption of the minimally invasive procedure and rising incidences of cardiovascular diseases. As per data by WHO, cardiovascular diseases are leading cause of death globally with an estimated 17.9 million people dying of CVDs in 2016. Technological advancements in interventional cardiology devices will also boost the market for interventional cardiology during the forecast period. However, stringent regulatory requirements for the approval of interventional cardiology devices might restrain the growth of interventional cardiology market during the given time frame.

Drivers

Increasing prevalence of cardiovascular diseases.

Technological advancements in interventional cardiology devices.

Increasing health expenditure worldwide.

Restraints

Regulations regarding approval of interventional cardiology devices.

High cost of interventional cardiology procedures in developing and underdeveloped economies.

Industry Update

In March 2019, Medtronic entered in an agreement with the Medical University of South Carolina with the aim to help the patients by delivering the best treatments at a lower cost. In addition, this is considered as a value-based agreement in order to help identify and diagnose the patients sooner.

In April 2018, BIOTRONIK US and Aziyo announced a strategic agreement allowing BIOTRONIK to distribute Aziyo’s CanGaroo® extracellular matrix (ECM) cardiovascular implantable electronic device (CIED) envelopes in the United States.

The major players profiled in the global interventional cardiology market include Medtronic, Stryker, Abbott, B. Braun Melsungen AG, Boston Scientific Corporation, Cordis (A Cardinal Health Company), Edwards Lifesciences Corporation, GE Healthcare, Biosensors International Group, Ltd., and Biotronik, Inc. among others.

Segmentation

The global interventional cardiology market has been analyzed through the following segments:

By Device Type
Stents
Catheters
Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloons
Others

By Application
Coronary Artery Disease
Heart Valve Disease
Peripheral Vascular Disease
Structural Heart Disease

By End-User
Hospitals and Clinics
Ambulatory Surgery Centers

By Geography

North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
United Kingdom
Germany
France
Others

Middle East and Africa
Saudi Arabia
UAE
Israel
Others

Asia Pacific
China
India
Australia
South Korea
Others