According to Emergen Research, the global interventional cardiology devices market size was USD 13.72 billion in 2020 and is expected to reach USD 26.84 billion in 2028 and register a revenue CAGR of 8.7% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Interventional Cardiology Devices Market, By Product Type (Angioplasty Stents, Angioplasty Balloons, Catheters, Structural Heart Devices, Plaque Modification Devices, Guidewires, Hemodynamic Flow Alteration Devices), By End-use (Hospitals, Ambulatory Surgical Centers, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global interventional cardiology devices market size was USD 13.72 billion in 2020 and is expected to reach USD 26.84 billion in 2028 and register a revenue CAGR of 8.7% during the forecast period, 2021-2028.
Market Dynamics:
Steady revenue growth of the global interventional cardiology devices market is driven by factors such as rise in global geriatric population, rising burden of lifestyle diseases such as diabetes, obesity, and hypertension, growing prevalence of cardiovascular diseases such as coronary artery disease, and rising adoption of highly advanced interventional cardiology devices with higher accuracy and improved efficiency. The Centers for Disease Control and Prevention (CDC) claimed in a recent study that coronary artery disease is one of the most common heart diseases in the United States. According to the study, nearly 18.2 million of the U.S. population are suffering from the disease. Moreover, in June 2020, the British Heart Foundation claimed that over 2.3 million people in the U.K. were diagnosed with coronary artery disease. The global interventional cardiology devices market revenue growth is further boosted by factors such as increasing government approvals for new and more advanced cardiology devices & solutions and growing preference for minimally invasive cardiac surgeries. Market revenue growth, however, is hampered to a major extent due to increasing instances of product failures and recalls and increasing availability of alternative cardiovascular disease treatments.
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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. Major factors driving revenue growth of this segment are increasing cases of coronary artery disease, growing use of angioplasty stents, including bare metal, drug-eluting, and bio-absorbable stents, in surgical procedures, and rising healthcare expenditures of individuals.
Hospitals Segment Accounted for Largest Revenue Share in 2020:
Based on end-use, the hospitals segment dominated other segments in terms of revenue share in the global interventional cardiology devices market in 2020. Growing prevalence of cardiovascular disorders across the globe, rising demand for minimally invasive surgeries, increasing adoption of technologically advanced interventional cardiology devices such as advanced cardiac catheterization devices and angioplasty stents, and rapidly advancing global healthcare infrastructure are among the key factors driving revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among the regional markets, the North America interventional cardiology devices market emerged as the most dominant in the global market in 2020, with the largest revenue share. Growing awareness of cardiac health, rising prevalence of cardiovascular diseases, rapid rate of hospitalization due to stroke or cardiac arrests, and growing use of cutting-edge interventional cardiology devices are the major factors contributing to the regional market revenue growth.
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Major Companies in the Global Interventional Cardiology Devices 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
For the purpose of this report, Emergen Research has segmented the global interventional cardiology devices market based on product type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Angioplasty Stents
- Angioplasty Balloons
- Catheters
- Structural Heart Devices
- Plaque Modification Devices
- Guidewires
- Hemodynamic Flow Alteration Devices
- Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals
- Ambulatory Surgical Centers
- 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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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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