Global Interventional Cardiology Market to Grow at a CAGR of 6.9% During 2023
Posted by facto on October 16th, 2019
Interventional cardiology is the catheter-based treatment of cardiovascular diseases. Certified cardiologists who perform these procedures are known as intervention cardiologists. Interventional procedures are mostly performed in specialized catheterization laboratories using cardiac monitoring devices and other cardiac medical devices. The procedures are considered minimally invasive since they do not require large incisions to be made in the body. It involves the insertion of a catheter or hollow tube into the body.
The interventional cardiology market is poised to grow at a steady rate over the forecast period given that the use of interventional cardiology devices has increased significantly. Public as well as private sector hospitals have started using interventional cardiology products. The global interventional cardiology market is likely to grow at a CAGR of 6.9% (2017-2022) resulting in a global revenue of USD 21.88 billion by 2022.
The stents as well as catheters segment are expected to grow at a significant rate. Among the various applications, the angioplasty segment has held the maximum share of the market and is expected to grow at a considerable rate over the forecast period. Valvuloplasty is the other application area that is likely to gain momentum, especially in pediatric interventional cardiology.
Key growth factors
The development of advanced minimally invasive procedures and increase in adoption of the same in interventional cardiology is likely to drive the global market in the future. Moreover, the development of hybrid procedures is another trend that is likely to gain acceptance across the industry in the coming years.
Threats and key players
Despite the optimistic growth forecast of the interventional cardiology market, some restraining factors must be taken into consideration while analyzing the overall market scenario. Post-procedural complexities such as blood clotting or thrombosis, uneven drug release, and varying rates of degradation are some of the factors that may hinder the growth of the market.
Some of the major players in the Interventional Cardiology market are Medtronic PLC, Boston Scientific Corporation, Edwards Lifesciences Corporation, Terumo Corporation, Livanova, PLC, Abbott Laboratories, S.A., C. R. Bard, Inc., Johnson & Johnson Pvt. Ltd., B. Braun Melsungen AG, Teleflex Incorporated, and Microport Medical Apparatus(Shanghai) Co. Ltd.
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Joined: October 7th, 2019
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