Interventional Cardiology and Peripheral Vascular Devices Market
Posted by pooja on June 10th, 2019
Interventional Cardiology and Peripheral Vascular Devices Market Report, published by Allied Market Research, forecasts that the global market is expected to garner ,349 million by 2022, registering a CAGR of 9.7% during the period 2016-2022. Angioplasty stent systems are estimated to generate the highest revenue among all segments throughout the forecast period, owing to technological advancements and development of bioabsorbable stents. North America held the leading position in the global market in 2015, and is expected to maintain its lead in the future. This is attributed to the increase in incidence of heart failures, changes in lifestyle, and high adoption of interventional cardiology and peripheral vascular devices in the region.
Growth in geriatric population,increase in prevalence of chronic diseases, changes in lifestyle of the people, technological advancements in devices, improvement of healthcare infrastructure in developing countries, development of minimally invasive procedures, and increase in patient awareness propel the market growth. However, stringent approval process for interventional cardiology and peripheral vascular devices is a major factor that hampers the market growth.
Plaque modification devices are projected to be thefastest growing segment, with a CAGR of 13.7% from 2016 to 2022, as these devices provide an efficient alternative when ballooning of arteries fail. In addition, plaque removal is also important before a stent implant as this helps in prevention of restenosis in the arteries. Apart from this, increase in incidences of plaque buildup in coronary as well as peripheral arteries and minimally invasive nature of the procedure will also drive the market.
Bioabsorbable stents system is expected to register a very high CAGR of 46.0% during the forecast period as this system is fully absorbed into the body and eliminates chances of restenosis. In addition, bioabsorbable stents improve endothelial function, avoid the loss of blood, and restore normal vasomotion. This is not possible when bare metal stents are used. Therefore, bioabsorbable stents would grow with a very high growth rate.
Key findings of the Interventional Cardiology and Peripheral Vascular Devices Market:
Key players have adopted product development as their key strategy to cater to the changing needs of the industry. Major players operating in this market include Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, C. R. Bard, Inc., Cardinal Health, Inc., Cook Medical, Inc., Medtronic plc, St. Jude Medical, Inc., Terumo Corporation, and The Spectranetics Corporation. As of 2015, Medtronic dominated the overall renal denervation market, followed by Abbott Laboratories and Boston Scientific Corporation.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
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About the Authorpooja
Joined: May 29th, 2019
Articles Posted: 84
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