The global interventional cardiology devices market is expected to reach USD 20.85 Billion by 2022 from USD 14.52 Billion in 2017, at a CAGR of 7.5%.
Market growth is primarily driven by the growing incidence of CVD and technological advancements in interventional cardiology devices.
The global interventional cardiology devices market is segmented based on type and region. By type, the global market is segmented into angioplasty balloons, angioplasty stents, catheters, plaque modification devices, hemodynamic flow alteration devices, and other devices. The angioplasty stents segment is estimated to account for the largest market of the global market in 2017. Factors driving the growth of this segment include the widespread use of stents.
The plaque modification devices market is further classified into thrombectomy devices and atherectomy devices. The thrombectomy devices segment is estimated to account for the largest share of the global plaque modification devices market. The large share of this segment can be attributed to the increasing demand for plaque removal procedures and rising incidences of plaque deposition.
The other interventional cardiology devices market is segmented into guidewires, vascular closure devices, introducer sheaths, and balloon inflation devices. The guidewires segment is estimated to account for the largest share of the global other market. Growth in the number of interventional procedures and increasing use of guidewires in stenting procedures are the major factors driving the growth of this segment.
The global interventional cardiology devices market is dominated by North America, followed by Europe. North America will continue to dominate the global market in the forecast period. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered on Japan, China, and India. Factors such as the rising focus of major players in emerging Asia Pacific countries and government support are driving the growth of the interventional cardiology devices market in this region.
Factors such as the high degree of consolidation, the high cost of devices, and complex regulatory framework for the approval of new products may restrain the market's growth to a certain extent.
Major industry players launched innovative products to maintain and improve their position in the interventional cardiology devices market. Medtronic (US), Boston Scientific (US), Abbott Laboratories (US), Terumo (Japan), Cordis (US), B. Braun (Germany), C.R. Bard (US), Biosensors (Singapore), and BIOTRONIK (Germany) have been identified as key players in this market.
Growth in Geriatric Population
Technological Advancements in Interventional Cardiology Devices