According to Emergen Research, the global interventional cardiology market size was USD 16.67 billion in 2020 and is expected to reach USD 28.96 billion in 2028 and register a revenue CAGR of 7.6% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Interventional Cardiology Market, By Product Type (Catheters, Angioplasty Balloons, Angioplasty Stents, Plaque Modification Devices, Others), By End-use (Hospitals, Ambulatory surgical centers, Cardiac catheterization labs, and others), and By Region, Forecast to 2028”
According to Emergen Research, the global interventional cardiology market size was USD 16.67 billion in 2020 and is expected to reach USD 28.96 billion in 2028 and register a revenue CAGR of 7.6% during the forecast period, 2021-2028.
Market Dynamics:
Major factors providing impetus to the global interventional cardiology market revenue growth are rapidly growing geriatric population worldwide, rising prevalence of lifestyle-induced diseases such as obesity, diabetes, and hypertension, and increasing burden of cardiovascular disorders including coronary artery disease, cardiac arrest, stroke, arrhythmia, and congenital heart disease. As claimed by the Centers for Disease Control and Prevention (CDC) in a recent study, coronary artery disease is one of the most common heart diseases in the U.S., affecting nearly 18.2 million of the country’s population. And, according to the British Heart Foundation, more than 2.3 million people in the U.K. were detected with coronary artery disease in June 2020.
Technological advancements in interventional cardiology devices in terms of higher efficiency, enhanced accuracy, and improved safety, and rapid adoption of these highly advanced devices in healthcare facilities including hospitals and ambulatory surgical centers are other key factors boosting the global interventional cardiology market revenue growth. In addition, increasing regulatory approvals for new and more advanced cardiology solutions, rising demand for minimally invasive cardiac surgeries, increasing government initiatives to raise awareness of heart health, and rapidly advancing healthcare infrastructure drive market revenue growth to a major extent.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Angioplasty Stents Segment to Account for Fastest Revenue Growth Rate:
The angioplasty stents segment is expected to register the fastest revenue CAGR in the global market over the forecast period. Rising cases of coronary artery disease, increasing use of angioplasty stents such as bioabsorbable and drug-eluting stents in cardiovascular surgeries, and rising healthcare expenditure of individuals are among the major factors driving revenue growth of this segment.
Hospitals Segment Accounted for Largest Revenue Share in 2020:
The hospitals segment accounted for the largest revenue share in the global market in 2020. Factors contributing to revenue growth of this segment are rising prevalence of cardiovascular diseases globally, increasing patient pool, growing demand for minimally invasive surgeries, rapid adoption of advanced interventional cardiology devices such as angioplasty stents and cardiac catheterization devices in hospitals.
North America Accounted for Largest Revenue Share in 2020:
North America interventional cardiology market dominated other regional markets in terms of revenue share in the global market in 2020. Key factors driving the regional market revenue growth are rising awareness of cardiac health among the population, growing burden of chronic diseases such as obesity and diabetes, increasing prevalence of cardiovascular diseases, and growing use of advanced interventional cardiology solutions.
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Major Companies in the Global Interventional Cardiology Market Include:
- Abbott Laboratories
- Terumo Corporation
- iVascular - Dispositivos Cardiovasculares
- Boston Scientific Corporation
- Edwards Lifesciences Corporation
- B. Braun Melsungen
- Medtronic Plc
- Koninklijke Philips N.V.
- Biosensors International Group Ltd.
- Endocor GmbH
- Biotronik
For the purpose of this report, Emergen Research has segmented the global interventional cardiology market based on product type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Catheters (Angiography Catheters, Guiding Catheters, IVUS Catheters)
- Angioplasty Balloons (Cutting Balloons, Normal Balloons, Drug-eluting Balloons)
- Angioplasty Stents (Bioabsorbable Stents, Drug-eluting Stents, Bare-metal Stents)
- Plaque Modification Devices
- Others (Guidewires, Balloon Inflation Devices)
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals
- Ambulatory surgical centers
- Cardiac catheterization labs
- Others
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Region Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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