Interventional Cardiology Devices Market Size, Share, Growth and Demand

 

Interventional Cardiology Devices Market Size, Share & COVID-19 Impact Analysis, By Type (Coronary Vascular Devices and Structural Heart Devices), By Product (Coronary Stents, Heart Valve Therapy Devices, Angioplasty Balloons, Atherectomy Devices, Intravascular Ultrasound (IVUS) Devices, and Others), By End User (Hospitals & Ambulatory Surgical Centers and Clinics & Others), and Regional Forecasts, 2022-2029

The global interventional cardiology devices market size was valued at USD 13.67 billion in 2021. The market is projected to grow from USD 14.61 billion in 2022 to USD 23.61 billion by 2029, exhibiting a CAGR of 7.1% during the forecast period. Prevalence of Cardiovascular Diseases (CVDs) such as coronary heart disease, stroke, and atrial fibrillation to propel the market progression. There is focus on the production and launch of advanced devices to meet the growing demand for minimally invasive devices. Fortune Business Insights™ shares this information in its report titled “Interventional Cardiology Devices Market, 2022-2029.”

COVID-19 Impact:

Reduction in Number of Elective Surgeries Impeded Market Growth

The COVID-19 pandemic negatively affected the market in 2020 due to elective surgical procedures across the globe, significantly affecting the global market. According to PLOS, in September 2022, in Michigan, the total PCI procedural volume from March to December 2020 declined by 15.2% compared to 2019. In 2021, all elective and interventional surgeries were conducted in several countries across the globe. Preference for interventional procedures due to non-invasive and infection control among patients is set to propel the market growth.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Rising Number of Product Launches by Key Players to Fuel Market Progression

Rising number of product launches by the key players is anticipated to drive the interventional cardiology devices market growth. Developing nations such as China, India, and Brazil have a high number of cardiovascular diseases such as valvar defects and atrial stenosis, which lead to a high demand for interventional cardiology devices for treatment. Partnerships among major players to conduct several clinical trials on interventional devices are increasing. In March 2021, B. Braun SE partnered with Infraredx for the implementation of an Investigational Device Exemption (IDE) clinical trial for the SeQuent Please ReX drug-coated PTCA balloon catheter.

List of Key Players Profiled in the Report

·         Edward Lifesciences (U.S.)

·         Boston Scientific Corporation (U.S.)

·         Abbott (U.S.)

·         Medtronic (Ireland)

·         BIOTRONIK SE & Co. KG (Germany)

·         iVascular (Spain)

·         Terumo Corporation (Japan)

·         Teleflex Incorporated (U.S.)

·         B. Braun SE (Germany)

·         Alvimedica (Turkey)

 

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