The global interventional cardiology devices market was valued at USD 13.8 billion in 2021 and it is anticipated to grow further to USD 40.4 billion by 2031, at a CAGR of 11.3% during the forecast period.
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Catheters are used in interventional cardiology to treat heart conditions. The procedure involves introducing a device, such as a balloon, stent, catheter, or another device, into the femoral artery or any other significant peripheral artery or vein, followed by the cannulation of the heart with the use of an X-ray. Additionally, a range of interventional cardiology tools is used to treat peripheral vascular issues that have an impact on the circulatory system and can result in the buildup of plaque in the arteries of the limbs. Some of the commercially available interventional cardiology devices include catheters, balloons, stents, and filters.
Market Trends and Drivers
The most prevalent form of heart disease in the US, coronary artery disease (CAD), claimed 365,914 lives in 2017, according to the Centers for Disease Control and Prevention (CDC). Additionally, according to the CDC’s estimations, 18.2 million Americans over the age of 20 currently have CAD. The British Heart Foundation estimates that 2.3 million persons in the UK had CAD as of June 2020. In the UK, heart and circulatory illnesses cause 170,000 deaths annually. The need for interventional cardiology devices is anticipated to rise in the upcoming years due to the enormous patient population and the high mortality rate.
The need for interventional cardiology equipment is also fueled by risk factors including diabetes and hypertension. Diabetes increases the likelihood of developing additional disorders that increase the risk of coronary heart disease. High blood sugar levels over time might harm the heart’s blood vessels. The International Diabetes Federation (IDF) projects that there will be 700 million individuals with diabetes worldwide by 2045, up from 463 million in 2019. Every year, 1.5 million people in the US alone are given a diabetes diagnosis [Source: American Diabetes Association (ADA)]. The rise in the number of elderly people can be partly blamed for the rise in diabetes prevalence.
Market Restraints and Challenges
The availability of efficient first-line treatments and the strict regulatory environment for the manufacture of interventional cardiology devices are anticipated to limit the market growth.
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Global Interventional Cardiology Devices Market Segmentation
By Type
- Angioplasty Balloons
- Angioplasty Stents
- Structural Heart Devices
- Catheters
- Plaque Modification Devices
- Hemodynamic Flow Alteration Devices
- Others
By End User
- Hospitals
- Ambulatory Surgical Centers
- Others
Major Players in the Global Interventional Cardiology Devices Market
The key players studied in the report are Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), Edward Lifesciences Corporation (US), Cardinal Health (US), iVascular (Spain), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Biosensors International Group (Singapore), and BIOTRONIK SE & Co. KG (Germany) among others.
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