A new report has been published by Transparency Market Research, titled “Interventional Cardiology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022”. TMR, a market intelligence company based in the U.S., states that the global interventional cardiology devices market was estimated at US$8.7 billion in 2013, is expanding at a CAGR of 2.9% from 2014 to 2022, and is predicted to reach US$11.2 billion in 2022.As per the TMR report, it was about 50 years ago that coronary artery bypass surgery (CABG) was developed for treating multi-vessel coronary artery disease (CAD) and complex ischemia. Interventional cardiology is defined as a minimally invasive catheter-based technology and minimally invasive surgeries have several benefits such as reduced cost, shorter hospital stay, minimal incision, shorter recovery time, and less post-surgical complications. These benefits are helping growth of the interventional cardiology devices market.
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According to this TMR report, on the basis of device type, the global market for interventional cardiology devices market is segmented into: catheters, stents, percutaneous transluminal coronary angioplasty (PTCA) guide wires, percutaneous transluminal coronary angioplasty (PTCA) balloons, and others.Amongst these, the biggest share was held by the stents segment. Stents are further bifurcated into drug eluting stents, bare metal stents, and bioabsorbable vascular stents. Amongst these, in 2014, the drug eluting stents held the biggest market share in the global market for interventional cardiology devices and is set to govern the market through the forecasting horizon.The TMR report states that the increasing incidence of coronary artery diseases and increasing geriatric population are amongst the major reasons stimulating the development of the global interventional cardiology market. Rising incidence of factors such as obesity, smoking, and dietary irregularities are responsible for the rising prevalence of cardiac artery diseases.
Nonetheless, CABG procedures are experiencing a decline because of the evolution of interventional techniques, as per the studies directed by the NCBI. In Europe, CAD is responsible for about 1.9 million deaths every year, of which more than 400,000 are premature deaths. Thus, the disease is a key cause of premature deaths in Europe. Therefore, the increased occurrence of coronary artery diseases will rise demand for percutaneous coronary interventions, which would boost the development of the market for interventional cardiology devices.As per this TMR research report, this market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East and North Africa, and Rest of the World (RoW). North America led the market for global interventional cardiology devices, trailed by Europe, due to the consistent implementation of drug eluting stents, which are premium priced.
Asia Pacific stood as the third biggest market for interventional cardiology devices. This region is predicted to record the highest CAGR through the forecasting horizon. Developing healthcare infrastructure and rising occurrence of coronary artery disease will stimulate the development of this market in the region.Key players in the interventional cardiology devices market include Cordis Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, Cook Medical, St. Jude Medical, Inc., Medtronic, plc, Terumo Medical Corporation, and Smiths Medical.
Browse the full Interventional Cardiology Devices Market: (By Types: Stents, Catheters, PTCA Balloons, PTCA Guidewires, Imaging Systems and Others): Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022 report at http://www.transparencymarketresearch.com/interventional-cardiology-devices.html
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