North American Interventional Cardiology and Peripheral Vascular Devices Market worth $5.9 Billion by 2018
DALLAS, June 5, 2014 /PRNewswire/ --
The report "North American Interventional Cardiology & Peripheral Vascular Devices Market by Angioplasty Balloon (Plain/Old, Cutting), Stent (Bioabsorbable, Drug-Eluting), Catheter (IVUS, OCT), IVC Filter (Retrievable), Endovascular Stent Graft - Forecast to 2018" by MarketsandMarkets, analyzes and studies the major market drivers, restraints, and opportunities in the U.S. and Canada.
Browse 108 market data tables and 24 figures spread through 245 pages and in-depth TOC on "North American Interventional Cardiology & Peripheral Vascular Devices Market"
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This report studies the North American interventional cardiology and peripheral vascular devices market over the forecast period of 2013 to 2018. Promise for lesser risk of restenosis is expected to spur market growth.
The North American interventional cardiology and peripheral vascular devices market is expected to reach $5,947.5 million by 2018, at a CAGR of 2.9% during 2013 to 2018. The decreasing incidences of coronary angioplasties and the increasing peripheral intervention procedures have impacted the surgical equipment market significantly in North America.
The risk of restenosis in angioplasty procedures encourages the adoption of novel technologies to minimize post-surgical complications. Amongst various surgical devices, bioabsorbable stents were found to be a major breakthrough in the North American interventional cardiology and peripheral vascular market. The bioabsorbable stents market is expected to witness a significant CAGR of 62.2% during the forecast period. The success achieved during the ongoing studies is also anticipated to spur the market adoption.
In addition to the next-generation stent, advanced diagnostic catheters such as intravascular ultrasound (IVUS) and optical coherence tomography (OCT) catheters are expected to grow at a faster pace in the coming years. Better diagnosis of vascular health as compared to conventional guiding catheters is the major reason behind the significant market growth.
In the peripheral vascular devices market, retrievable inferior vena cava filter (IVC) occupies a notable market space as it becomes the gold standard for the treatment of DVT/PE in North America. Moreover, reduced risk of long-term post surgical complication, which is common with permanent IVC filters, is expected to ensure a CAGR of 14.8% during the forecast period.
Analysis of the market dynamics identified the unique nature of the U.S. and Canadian interventional cardiology and peripheral vascular devices markets. The technology adoption rate in Canada was found to be significantly high in 2013, though the total number of various cardiac procedures was much higher in the U.S. Bioabsorbable stentsare still under investigational study; however, it is available on a special access basis from Health Canada. Furthermore, angioplasty procedures through femoral route are still prevalent in the U.S. market; whereas, radial route angioplasty procedures gain significant adoption in the Canadian market. On the contrary, the U.S. market is significantly advanced in terms of required infrastructure as compared to the Canadian market. The Canadian market still lacks adequate number of cardiac facilities and skilled interventionists. Moreover, average waiting time for availing cardiac care is appalling in Canada; such factor is expected to fuel the adoption of advanced minimally invasive techniques in Canada in the coming years.
Analysis of notable players has brought to light that the North American Interventional Cardiology Devices Market is fairly consolidated with a few leading players. The notable players of this market include Abbott Laboratories (U.S.), Cordis Corporation (U.S.), Medtronic, Inc. (U.S.), Boston Scientific Corporation (U.S.), and Covidien, Inc. (U.S.).
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