The Global
Interventional Cardiology Devices Market is anticipated to reach around USD
25.2 billion by 2020. High incidence of heart related disorders can directly
impact product demand over the forecast period (2012 to 2020). Valvuloplasty,
angioplasty, and coronary thrombectomy are procedures that need such devices.
Key industry drivers are popularity of minimally invasive surgeries and
unhealthy lifestyles that trigger the onset of cardiovascular anomalies. Also,
rising cases of congenital heart diseases may positively impact the overall
market in the years to come. The use of novel devices and new drug therapies in
treating cardiovascular disorders has led to higher life expectancy and better
quality of life of patients. According to the World Health Organization (WHO),
number of deaths caused by cardiovascular disorders is expected to be nearly
23.3 million by 2030.
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The worldwide Interventional Cardiology
Devices Market is segmented on the basis of products and regions. On the basis
of products, the divisions are balloon inflation devices, PTCA balloons,
stents, PTCA guidewires, and interventional cardiology catheters. With a market
share exceeding 70%, interventional cardiology catheters dominated the global
industry in 2013. Application of novel technologies that lower the risks of
post-operative complications and restenosis in angioplasty is a key factor that
drives this segment. Different types of stents are bio-absorbable, drug
eluting, and metal. Bare metal stents have helped in lowering the rates of
restenosis by around 20 to 25 percent.
However, owing to greater effectiveness,
bio-absorbable & drug eluting stents are increasingly being used in place
of bare metal stents. The bio-absorbable stents segment may register the
highest growth rate in the forecast period. This is attributed to increasing
awareness about the benefits of such stents, such as their ability to lower the
possibility of restenosis. Catheters are a rapidly growing product segment
because these are utilized extensively in minimally invasive medical
procedures. Due to the high incidence of cardiovascular disorders, demand for
angioplasty catheters may surge in the forthcoming years. This segment is
propelled by technological advancements, widespread patient awareness, and
prevalence of structural & congenital heart ailments.
Geographically, the global interventional
cardiology devices market is categorized into Europe, North America, Asia
Pacific, and Rest of the World. With shares surpassing 35%, North America
dominated the overall industry in 2013. Widespread awareness in advanced
economies and the presence of large pediatric & geriatric populations are
key regional drivers. According to the American Heart Association, nearly 22%
of the pediatric population belonging to the 6 to 17 years age group suffers
from cardiovascular disorders. This owes to the prevalence of obesity in the
region. Asia Pacific can expand at the highest CAGR over the forecast period
because of popularity of minimally invasive procedures that ensure quick
recoveries and cause minimal trauma to patients.
Key companies in the worldwide interventional
cardiology devices industry are Boston Scientific, Abbott Laboratories, Terumo
Medical Corporation, B. Braun Melsungen AG, and Cordis Corporation among
others. In December 2016, Boston Scientific launched the SYNERGY stent. This
product has been approved by the US FDA for use in the treatment of coronary artery
disease. It is the first ever stent that offers synchronized polymer & drug
absorption. It enables complete & rapid arterial healing and thus lowers
the risks of complications pertaining to long term polymer exposure.
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