Interventional Cardiology and Peripheral Vascular Devices Market size worth $32.5 Bn by 2026

Interventional Cardiology and Peripheral Vascular Devices Market size is set to exceed USD 32.5 billion by 2026, according to a new research report by Global Market Insights, Inc.
 

Rising number of patients with cardiovascular diseases is anticipated to witness the lucrative growth. According to the Centers of Disease Control and Prevention (CDC), heart disease is the leading cause of mortality in the U.S. Increase in healthcare cost burden on the government has also propelled the use of advanced products to reduce the cases in the country.  Growing technological advancements and innovations are expected to boost the market growth. Thus, product innovations and rising research & development expenditure will spur the global industry expansion.

 

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Rising geriatric and obese population will create growth opportunities for interventional cardiology and peripheral vascular devices market

According to the World Health Organization (WHO), in 2016, around 650 million people were obese. It is a growing concern worldwide as it is a major risk factor in development of atherosclerosis and coronary artery disease, leading to structural and functional changes of the heart. Increasing geriatric population base susceptible to numerous cardiovascular disorders is yet another major concern that adds to cardiovascular disease pervasiveness. Elderly patients are generally not recommended open heart surgery due to high risk of complications. Adoption of minimally invasive cardiovascular procedures will observe upsurge. Also, development of advanced products with better efficiency will contribute to increase in demand for interventional devices.   
 

Increasing adoption rate of stents owing to advanced technology development

Global Interventional Cardiology and Peripheral Vascular Devices Market By Product

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Drug eluting stents segment held over 85% market share in 2019. Advanced drug eluting stents are being rapidly adopted in interventional cardiology and peripheral interventions. Ability to avoid restenosis and continuous innovations leading to improved stents further creates demand for DES.
 

Browse key industry insights spread across 175 pages with 227 market data tables & 15 figures & charts from the report, Interventional Cardiology and Peripheral Vascular Devices Market Size By Product (Interventional Catheters, Guidewires, Stents {Bioabsorbable Stents, Drug Eluting Stents, Bare Metal Stents}, PTCA Balloons, Atherectomy Devices, Chronic Total Occlusion Devices, Synthetic Surgical Grafts, Embolic Protection Devices, Inferior Vena Cava Filters), By Application (Congenital Heart Defect Correction, Coronary Thrombectomy, Angioplasty, Valvuloplasty, Percutaneous Valve Repair), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/interventional-cardiology-and-peripheral-vascular-devices-market
 

Growing cardiovascular disorders in paediatric patients will influence congenital heart defect correction procedures

 Interventional cardiology and peripheral vascular devices market for congenital heart defect correction segment is poised to showcase growth of 8.6% till 2026. Congenital heart defect corrective surgery fixes or treats a heart defect in a pediatric patient. According to Centers for Disease Control and Prevention (CDC), congenital heart defects (CHDs) affect approximately 40,000 newborns every in the U.S. Around 25% of babies with a CHD have a critical condition and need treatment procedure in their first year of life. With increasing prevalence of CHDs and rising awareness among population regarding procedure will drive the market demand during the forecast period.
 

Rising healthcare facilities in emerging economies will offer growth potential to the ambulatory surgical centres

Ambulatory surgical centres end-use segment in the interventional cardiology and peripheral vascular devices market valued USD 0.6 billion in 2019. In the developed countries, improving infrastructure in ambulatory surgical centers along with associated benefits of interventional cardiology and peripheral vascular devices will increase the segment size. Moreover, presence of skilled workforce and benefits such as affordable treatment for the patients will augment the market growth.
 

Presence of major market players and increasing healthcare expenditure by the government in Europe

Europe interventional cardiology and peripheral vascular devices market accounted for 22% revenue share in 2019 on account of growing awareness about advanced interventional and vascular products, rising prevalence of cardiovascular diseases along with focus on new product innovation. In addition, increasing adoption of non-invasive surgical procedures, technological innovations in the treatment pattern and advancements will fuel the industry demand.
 

Various strategic initiatives such as new product launch & mergers will strengthen the business expansion

Some of the notable players operating in the interventional cardiology and peripheral vascular devices market includes Abbott Laboratories, Johnson & Johnson, Terumo Corporation, Becton Dickinson and Company, Boston Scientific Corporation and Medtronic among others. Major companies have adopted certain strategic initiatives such as collaborations, new product launch and acquisitions to increase their market foothold.
 

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