Fractional Flow Reserve Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3627
Fractional Flow Reserve Market size is expected to grow significantly from 2019 to 2025.
Increasing prevalence of chronic diseases such as cardiovascular and diabetes globally will prove beneficial for industry growth over the forecast time period. There is spontaneous rise in hypertension, anxiety disorders that are resulting in escalation of myocardial diseases. According to WHO, 17.9 million people die due to cardiovascular diseases globally. Additionally, diabetes has numerous associated risks such as accumulation of fatty cells in coronary arteries that causes blockage. Moreover, rising geriatric population susceptible to chronic diseases will fuel market growth. As a result, demand for fractional flow reserve devices will augment that will exceed business revenue.
Advantages offered by fractional flow reserve techniques will surge its demand, thereby propelling business growth. It is technique used to measure pressure differences in coronary arteries through catheterization. Due to minute size of guidewires, it efficiently penetrates through arteries that helps surgeons to decide whether further surgical procedures such as stenting or angioplasty is necessary. However, reluctance of cardiologists to adopt fractional flow reserve devices will hinder industry growth up to certain extent.
Guidewires segment is anticipated to witness lucrative growth over the forecast time frame. Substantial growth is attributed to benefits offered by guidewires such as it is used in navigating arteries and veins to reach lesion. It acts as guide to larger catheters so that they can rapidly follow the path and deliver at the treatment site. These wires offer huge flexibility, and pushability. Thus, benefits offered guidewires to navigate till lesions will propel its usage that will augment segment growth.
Single-vessel disease segment had significant revenue share in 2018 and it expected to enormously surge in forthcoming future. Significant growth is attributed to increasing incidences of coronary artery diseases especially in developed countries. Sedentary lifestyle, consumption of junk food and lack of exercises are resulting in occurrence of coronary artery diseases. Use of fractional flow reserve devices in identifying coronary pressure in arteries will surge its demand, thereby driving segment growth.
North America fractional flow reserve market is estimated to witness significant growth over the analysis timeline. Demographic trends such as rising geriatric population and increasing prevalence of chronic diseases will surge demand for guidewires and monitoring devices in coming years. Additionally, strong foot hold of industry players will prove innovative solutions that will increase its adoption, thereby propelling regional market growth.
Notable industry players operating in the fractional flow reserve industry includes Abbott, Boston Scientific Corporation, Opsens Medical, Siemens Healthcare, CathWorks, Koninklinjke Philips, ACIST Medical Systems, Pie Medical Imaging. Key industry players are implementing strategies such as new product launch, mergers, acquisitions and join collaborations to provide innovative products to patients. For instance, in September 2016, Koninklinjke Philips received FDA clearance for the Verrata pressure guide wire. FDA cleared products will help company to gain competitive advantage, thereby capturing more market share and sustaining in the industry.
Fractional Flow Reserve Market By Product, 2014-2025 (USD Million)
- Monitoring Systems
Fractional Flow Reserve Market By Type, 2014-2025 (USD Million)
- Single-vessel CAD
- Multi-vessel CAD
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Boston Scientific Corporation
- Opsens Medical
- Siemens Healthcare
- Koninklinjke Philips N.V
- ACIST Medical Systems
- Pie Medical Imaging B.V.
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