According to a new report released by Research on Global Markets, the Interventional Cardiology Market forecast suggests growth of 7% over 2018-2023, generating USD 23.39 Bn. Interventional cardiology is a catheter-based treatment of cardiovascular diseases. It uses minimally invasive techniques such as cardiac monitoring and medical devices for the diagnosis and treatment of diseases. Interventional cardiology is carried out by medical professionals known as interventional cardiology.
According to the report, cardiovascular diseases are among the leading causes of death globally, and the rising incidence of chronic diseases along with the growing geriatric population, excessive alcohol, and tobacco consumption, stressful lifestyle, disturbed sleeping patterns are among the major causes leading to the rising incidence of cardiac diseases such as heart valve diseases, diabetes, peripheral vascular diseases, coronary artery disease, and myocardial infarctions. The global interventional cardiology market is classified into type, end-user, and region.
Based on the type, the market is segmented into catheters, stents, sheaths, PTCA balloons, embolic protection devices, plaque modification devices, vascular closure devices, chronic total occlusion, imaging systems, guide wires, and others. The plaque modification device market is anticipated to expand at a CAGR of 9% until 2023. In 2017, stents contributed the highest revenue share with a market share of 27%.
Based on the end user, hospitals occupied the largest market share of 48% in 2017. Ambulatory surgical centers is anticipated to grow at a rate of 9.6% during the 2018-2023 period. Based on the region, the global market for interventional cardiology is divided into North America, Europe, Asia-Pacareific, Latin America, and the Middle East and Africa. North America occupied 38% of the market share in 2017, while the Asia Pacific region is expected to occupy 7.6 % of the market share over 2018-2023.
Interventional cardiology brings along with it a bevy of advantages over traditional methods such as such as improved blood flow, rapid return to normalcy and brief hospitalization period. Interventional cardiology devices help cardiologists perform complicated procedures quickly on an out-patient basis. The procedure is usually less expensive than traditional surgeries and mostly only general anaesthesia is not required.
Key highlights of this report:
- Trends in the global interventional cardiology market.
- Market attractiveness analysis, and geography-wise market revenue (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
- Qualitative analysis of the global drivers and challenges affecting the market and its segments
- Porter’s five forces analysis.
- value chain analysis
- Market segmentation based on type (stents, catheters, PTCA balloons, plaque modification devices, embolic protection devices, vascular closure devices, chronic total occlusion, imaging systems, guidewires, and others [accessories, introducer sheath, etc.]) – historical (2015–2017) and forecasted (2018–2023) market size (USD Bn), and key market observations
- Market segmentation based on the end user (hospital, catheterization labs, and ambulatory surgical centers) – historical (2015–2017) and forecasted (2018–2023) market size (USD Bn), and key observations
- Detailed analysis of the key developments and major innovations in the market.
- Competitive analysis and company profiles.