[309 Pages Report] Global demand for interventional cardiology devices is anticipated to record a CAGR of 8.4% during the forecast period (2022 to 2032). The interventional cardiology devices market is expected to be valued at USD 16.4 Billion in 2022 and is likely to reach USD 36.9 Billion by 2032.
The trajectory of interventional cardiology device adoption trends is on the rise owing to the numerous advantages associated with minimally invasive Neurosurgery, such as reduced surgical pain, injury, and faster recovery time when compared to conventional surgeries, thereby proving to be a viable alternative to open surgery.
The market is supported by:
Demand for interventional cardiology devices is expected to positively drive the market over the forecast period owing to the focus on extensive Research and Development by manufacturers to support the healthcare sector with prominent offerings.
People with diabetes are more likely to have other conditions that raise the risk of coronary heart disease. Risk factors, such as diabetes and hypertension, also fuel the demand for interventional cardiology devices.
| Attributes | Details |
|---|---|
| Interventional Cardiology Devices Market CAGR (2022 to 2032) | 8.4% |
| Interventional Cardiology Devices Market Value (2022) | USD 16.4 Billion |
| Interventional Cardiology Devices Market Value (2032) | USD 36.9 Billion |
According to the American Heart Association, by 2035, around 45% of the USA population is likely to suffer from heart disease due to factors like high obesity, high smoking, and unhealthy lifestyles, which may lead to heart attacks and other related issues.
In the USA alone, 1.5 million Americans are diagnosed with diabetes each year. Growth in diabetes prevalence can largely be attributed to the growth in the geriatric population; it is estimated that 25% of all geriatric individuals (aged 60 years and above) suffer from diabetes in the US (Source: ADA)
The presence of sophisticated healthcare infrastructure, favorable government product development initiatives, and high patient awareness levels are some of the key drivers for the interventional cardiology devices market growth in the region. Moreover, strategic initiatives by key players have also fueled market growth.
For instance, in June 2021, Abbott received the USA Food and Drug Administration’s approval for its XIENCE family of stents for its one-month dual-antiplatelet therapy (DAPT) labeled for high bleeding risk (HBR) patients in the USA.
Similarly, in March 2021, the USA Food and Drug Administration approved the first in the world non-surgical heart valve to treat pediatric and adult patients with a native or surgically repaired right ventricular outflow tract (RVOT), the part of the heart that carries blood out of the right ventricle to the lungs.
Manufacturers are working hard for research and development of innovative offerings to serve a large customer base and that will allow the interventional cardiology devices market to grow.
Hence, manufacturers are adopting strategies such as mergers & acquisitions to expand their global footprint and add disruptive packaging advancements to their product portfolio. Further, a number of international market participants are entering into acquisitions and mergers and implementing new technology to increase commercial capacity to gain a major revenue share.
For instance, in July 2021, Abbott launched its XIENCE family of stents, which received the US Food and Drug Administration’s (FDA) approval for one-month DAPT labeling for high-bleeding risk (HBR) patients in the USA. In addition, XIENCE stents recently received the CE Mark approval for DAPT in 28 days, thus, ensuring XIENCE stents have the shortest DAPT indication in the world.
The interventional cardiology devices market is expected to be valued at USD 16.4 Billion in 2022 and is likely to reach USD 36.9 Billion by 2032.
The trajectory of interventional cardiology device adoption trends is on the rise owing to the numerous advantages associated with minimally invasive surgeries, such as reduced surgical pain, injury, and faster recovery time when compared to conventional surgeries, thereby proving to be a viable alternative to open surgery.
In addition, the interventional cardiology devices market is growing due to technological advancements in the areas of vascular closure devices, coronary guidewires, and drug-eluting stents, which increase the efficiency of interventional cardiology devices.
Diabetes and hypertension are primary risk factors that drive the demand for interventional cardiology devices.
Diabetes is more likely to be associated with other conditions that increase the risk of coronary heart disease, and high blood sugar levels can damage the blood vessels that control the heart over time, thereby spiking the sales of interventional cardiology devices.
The adoption of interventional cardiology devices is on the surge as diabetes prevalence is increasing due to an increase in the geriatric population; it is estimated that 25% of all geriatric individuals (aged 60 and above) in the USA have diabetes.
In addition, cardiology medical devices can be used to treat a variety of heart and artery problems, encouraging people from around the world to opt for the same.
Technological advancements have greatly boosted the interventional cardiology devices market share.
The rapid growth of the healthcare industry in developing countries has a positive impact on the interventional cardiology devices market growth, and the rising demand for minimally invasive treatment are the major factors fostering the interventional cardiology devices market key trends & opportunities.
One of the vital factors propelling the interventional cardiology devices market opportunities is advancements in developing-country healthcare facilities.
Favorable government initiatives for product development, as well as high patient awareness levels, augur well for the interventional cardiology devices market outlook.
There are cardiology medical device companies competing to launch advanced products for better treatment and have invested in research and development to improve their existing products and launch new platforms, and the same has facilitated the interventional cardiology devices market trends and forecasts.
However, a stringent regulatory environment and a lack of effective first-line treatments limit the interventional cardiology devices market growth.
During the forecast period, the angioplasty stents segment is expected to advance at a CAGR of 8.0% in the global interventional cardiology devices market.
Increased cases of coronary artery disease and increased use of angioplasty stents, including bare metal, drug-eluting, and bio-absorbable stents, in surgical procedures, are all combinedly contributing to the segment’s high interventional cardiology devices market share.
Rising individual healthcare expenditures, as well as the growing elderly population, are some other major factors driving revenue growth in this segment.
Demand for minimally invasive procedures in developing countries, as well as the development of improved cardiology medical equipment, are also considered factors primarily influencing the segment’s growth.
| Regions | CAGR (2022 to 2032) |
|---|---|
| USA Market | 8.2% |
| UK Market | 7.5% |
| China Market | 7.8% |
| Japan Market | 6.7% |
| South Korea Market | 6.2% |
The US interventional cardiology devices market is likely to lead the market globally with a CAGR of 8.2% during the forecast period.
The presence of sophisticated healthcare infrastructure, favorable government product development initiatives, and high patient awareness levels are some of the key drivers for the interventional cardiology devices market growth in the region.
The US has a high consumption rate of premium-priced interventional cardiology devices, and it is the region that can accommodate a high rate of medical device innovation, thus holding a large interventional cardiology devices market share globally.
Relatively high healthcare expenditures in the region are also considered a vital factor in opening up a wide array of interventional cardiology device market opportunities in the region.
A few of the region's key cardiology medical device companies are developing novel products and technologies to compete with existing products, while others are acquiring and partnering with other companies trending in the market.
The UK is projected to hold the second-largest interventional cardiology devices market share on account of rising obesity rates and changing lifestyle habits such as dietary irregularities, and an increasing number of global smokers driving the rise in cardiovascular disease prevalence.
The expansion of these products in this region is also dependent on the reimbursement policies established by other individual European countries.
The interventional cardiology devices market growth in China, Japan, and South Korea is primarily due to the rising prevalence of cardiovascular disorders in both the geriatric and pediatric populations, rising awareness about the cost-effectiveness and convenience offered by cardiology medical devices, and rising healthcare expenditure levels.
The market for interventional cardiology devices is moderately competitive.
To secure their position in the global competitive market, various cardiology device companies are implementing strategies such as investment in Research and Development activities, forming alliances such as acquisitions and collaborations, and new product launches.
Key market players are attempting to gain a competitive advantage by capitalizing on untapped opportunities thereby enlarging their interventional cardiology devices market share.
Some of the recent developments in the interventional cardiology devices market are as follows:
Table 1: Global Market Value (US$ Million), By Product, 2015 to 2021
Table 2: Global Market Value (US$ Million), By Product, 2022 to 2032
Table 3: Global Market, By Region, 2015 to 2021
Table 4: Global Market, By Region, 2022 to 2032
Table 5: North America Market Value (US$ Million), By Product, 2015 to 2021
Table 6: North America Market Value (US$ Million), By Product, 2022 to 2032
Table 7: North America Market, By Country, 2015 to 2021
Table 8: North America Market, By Country, 2022 to 2032
Table 9: Latin America Market Value (US$ Million), By Product, 2015 to 2021
Table 10: Latin America Market Value (US$ Million), By Product, 2022 to 2032
Table 11: Latin America Market, By Country, 2015 to 2021
Table 12: Latin America Market, By Country, 2022 to 2032
Table 13: Europe Market Value (US$ Million), By Product, 2015 to 2021
Table 14: Europe Market Value (US$ Million), By Product, 2022 to 2032
Table 15: Europe Market, By Country, 2015 to 2021
Table 16: Europe Market, By Country, 2022 to 2032
Table 17: Asia Pacific Market Value (US$ Million), By Product, 2015 to 2021
Table 18: Asia Pacific Market Value (US$ Million), By Product, 2022 to 2032
Table 19: Asia Pacific Market, By Country, 2015 to 2021
Table 20: Asia Pacific Market, By Country, 2022 to 2032
Table 21: MEA Market Value (US$ Million), By Product, 2015 to 2021
Table 22: MEA Market Value (US$ Million), By Product, 2022 to 2032
Table 23: MEA Market, By Country, 2015 to 2021
Table 24: MEA Market, By Country, 2022 to 2032
Table 25: Global Market Incremental $ Opportunity, By Product, 2015 to 2021
Table 26: Global Market Incremental $ Opportunity, By Region, 2022 to 2032
Table 27: North America Market Incremental $ Opportunity, By Product, 2015 to 2021
Table 28: North America Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 29: Latin America Market Incremental $ Opportunity, By Product, 2015 to 2021
Table 30: Latin America Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 31: Europe Market Incremental $ Opportunity, By Product, 2015 to 2021
Table 32: Europe Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 33: Asia Pacific Market Incremental $ Opportunity, By Product, 2015 to 2021
Table 34: Asia Pacific Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 35: MEA Market Incremental $ Opportunity, By Product, 2015 to 2021
Table 36: MEA Market Incremental $ Opportunity, By Country, 2022 to 2032
Figure 1: Global Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 2: Global Market Absolute $ Historical Gain (2015 to 2021) and Opportunity (2022 to 2032), US$ Million
Figure 3: Global Market Share, By Product, 2022 & 2032
Figure 4: Global Market Y-o-Y Growth Projections, By Product - 2022 to 2032
Figure 5: Global Market Attractiveness Index, By Product - 2022 to 2032
Figure 6: Global Market Share, By Region, 2022 & 2032
Figure 7: Global Market Y-o-Y Growth Projections, By Region - 2022 to 2032
Figure 8: Global Market Attractiveness Index, By Region - 2022 to 2032
Figure 9: North America Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 10: North America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 11: North America Market Share, By Product, 2022 & 2032
Figure 12: North America Market Y-o-Y Growth Projections, By Product - 2022 to 2032
Figure 13: North America Market Attractiveness Index, By Product - 2022 to 2032
Figure 14: North America Market Share, By Country, 2022 & 2032
Figure 15: North America Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 16: North America Market Attractiveness Index, By Country - 2022 to 2032
Figure 17: Latin America Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 18: Latin America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 19: Latin America Market Share, By Product, 2022 & 2032
Figure 20: Latin America Market Y-o-Y Growth Projections, By Product - 2022 to 2032
Figure 21: Latin America Market Attractiveness Index, By Product - 2022 to 2032
Figure 22: Latin America Market Share, By Country, 2022 & 2032
Figure 23: Latin America Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 24: Latin America Market Attractiveness Index, By Country - 2022 to 2032
Figure 25: Europe Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 26: Europe Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 27: Europe Market Share, By Product, 2022 & 2032
Figure 28: Europe Market Y-o-Y Growth Projections, By Product - 2022 to 2032
Figure 29: Europe Market Attractiveness Index, By Product - 2022 to 2032
Figure 30: Europe Market Share, By Country, 2022 & 2032
Figure 31: Europe Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 32: Europe Market Attractiveness Index, By Country - 2022 to 2032
Figure 33: MEA Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 34: MEA Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 35: MEA Market Share, By Product, 2022 & 2032
Figure 36: MEA Market Y-o-Y Growth Projections, By Product - 2022 to 2032
Figure 37: MEA Market Attractiveness Index, By Product - 2022 to 2032
Figure 38: MEA Market Share, By Country, 2022 & 2032
Figure 39: MEA Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 40: MEA Market Attractiveness Index, By Country - 2022 to 2032
Figure 41: Asia Pacific Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 42: Asia Pacific Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 43: Asia Pacific Market Share, By Product, 2022 & 2032
Figure 44: Asia Pacific Market Y-o-Y Growth Projections, By Product - 2022 to 2032
Figure 45: Asia Pacific Market Attractiveness Index, By Product - 2022 to 2032
Figure 46: Asia Pacific Market Share, By Country, 2022 & 2032
Figure 47: Asia Pacific Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 48: Asia Pacific Market Attractiveness Index, By Country - 2022 to 2032
Figure 49: USA Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 50: USA Market Share, By Product, 2021
Figure 51: Canada Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 52: Canada Market Share, By Product, 2021
Figure 53: Brazil Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 54: Brazil Market Share, By Product, 2021
Figure 55: Mexico Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 56: Mexico Market Share, By Product, 2021
Figure 57: Germany Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 58: Germany Market Share, By Product, 2021
Figure 59: UK Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 60: UK Market Share, By Product, 2021
Figure 61: France Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 62: France Market Share, By Product, 2021
Figure 63: Italy Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 64: Italy Market Share, By Product, 2021
Figure 65: BENELUX Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 66: BENELUX Market Share, By Product, 2021
Figure 67: Nordic Countries Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 68: Nordic Countries Market Share, By Product, 2021
Figure 69: China Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 70: China Market Share, By Product, 2021
Figure 71: Japan Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 72: Japan Market Share, By Product, 2021
Figure 73: South Korea Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 74: South Korea Market Share, By Product, 2021
Figure 75: GCC Countries Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 76: GCC Countries Market Share, By Product, 2021
Figure 77: South Africa Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 78: South Africa Market Share, By Product, 2021
Figure 79: Turkey Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 80: Turkey Market Share, By Product, 2021
The interventional cardiology devices market is projected to register a CAGR of 8.4% during the forecast period (2022 to 2032).
During the forecast period, the USA is expected to lead the interventional cardiology devices market with a CAGR of 8.2% through 2032.
Angioplasty Stents is expected to dominate the interventional cardiology devices market during the forecast period with a CAGR of 8.0% by the end of 2032.
The interventional cardiology devices market is poised to be worth USD 36.9 Billion by 2032.
The interventional cardiology devices market size was valued at USD 15.1 Billion in 2021.
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Interventional Cardiology Devices Market
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