According to a latest study by Transparency Market Research (TMR), the global interventional cardiology devices market will firmly remain on the growth track thanks to the rising incidence of coronary artery disease, but the impact of this growth will be softened to some degree by a decrease in the average selling price of stents, a key product in the market. The report, published under the title, “Interventional Cardiology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022," by Transparency Market Research, finds that the market’s valuation was US$8.7 bn in 2013, and will rise to US$11.2 bn by 2022, at a 2.9% CAGR through the forecast period.
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
For the most part, the growth of the interventional cardiology devices market will result organically via regular product launches and innovative improvements to existing products”, says a senior TMR analyst.The report segments the global interventional cardiology devices market on the basis of product type and criteria. Based on product type, the market has been segmented into: percutaneous transluminal coronary angioplasty (PTCA) balloons, catheters, stents, percutaneous transluminal coronary angioplasty (PTCA) guidewires, interventional cardiology systems, and other accessories.
In 2013, the stents formed the largest product segment in the global interventional cardiology devices market, thanks to the appreciable share held by drug eluting stents in the global market. For the purpose of an in-depth analysis, the report segments stents into drug eluting stents, bare metal stents, and bio-absorbable vascular stents.
Drug eluting stents represented the largest share in the market for interventional cardiology devices worldwide in 2013. Until 2022, the drug eluting stents segment is expected to remain in the leading position in the interventional cardiology devices market by product type based on the former’s demonstrated positive patient outcomes. However, the DES segment is expected to lose market share owing to the growing popularity of bio-absorbable stents. Bioabsorbable vascular stents will report the fastest growth rate over the forecast period given their ability to prevent complications such as late-stent and in-stent restenosis.
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Although this will slow down the growth rate of the DES segment, it will still continue to remain in a dominant position. Improved patient outcomes of drug eluting stents will remain the key factor fuelling their uptake.The catheters segment is sub-segmented into guiding catheters, angiography catheters, intravascular ultrasound (IVUS) catheters, and pulmonary artery catheters. The PTCA balloons segment is sub-segmented into scoring balloons, normal balloons, cutting balloons, and drug-eluting balloons. The report analyzes the largest and fastest-growing sub-segments under each of these segments.
The report covers the state of the interventional cardiology devices market in the following regional markets: North America, Asia Pacific, Europe, MENA, Latin America, and Rest of the World (RoW). In 2013, North America was the leader in the interventional cardiology devices market, with Europe taking second place. Asia Pacific stood as the third largest regional market in the same year, but is forecast to report the fastest rate of growth over the next few years.
Company profiles of leading market players form a crucial part of the report, especially for clients wanting to track the competition. For this purpose, the following companies have been profiled based on details such as product pipeline, recent M&A activity, financial status, and a SWOT analysis: St. Jude Medical, Inc., Abbott Laboratories, Inc., Terumo Medical Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Cordis Corporation, Cook Medical, Medtronic, plc, and Smiths Medical.
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