According to the new market research report Interventional Cardiology Devices Market
Size by type (Stents, Structural Heart, Catheters, Plaque Modification
(Atherectomy), Hemodynamic Flow Alteration (Embolic Protection, Total
Occlusion), Guidewire, Introducer Sheath, IVUS)) – Global Forecast to
2025, published by MarketsandMarkets™, the global Interventional
Cardiology Devices Market size is projected to reach USD 21.2 billion by
2025 from USD 13.8 billion in 2020, at a CAGR of 8.9%. The Growth in
this market is driven mainly by the rapid growth in the geriatric
population and the associated increase in the prevalence of coronary
artery diseases, approval of new and advanced products, and the growing
preference for minimally invasive surgeries.
Browse in-depth TOC on “Interventional Cardiology Devices Market Share”
179 – Tables
38 – Figures
196 – Pages
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The
interventional cardiology devices market is highly consolidated in
nature, with a few players offering a variety of products. The major
players operating in this market are Medtronic (US), Boston Scientific
Corporation (US), Abbott (US), Cardinal Health (US), iVascular (Spain),
Edward Lifesinces Corporation (US), B. Braun Melsungen (Germany), Terumo
Corporation (Japan), Biosensors International Group (Singapore), and
BIOTRONIK SE Co. KG (Germany).
Boston Scientific is the leading player in the interventional cardiology devices market. The company offers a wide range of guidewires, stents, catheters, angioplasty balloons, and structural heart devices. In the last three years, the company has been focusing on expanding its interventional cardiology portfolio by adopting various organic and inorganic strategies. Apart from this, the company has a strong presence in the US. As a result, in 2019, the company registered ~46% of its total interventional cardiology revenue from the US alone.
Medtronic is the second-leading
player in the interventional cardiology devices market share. The
company’s wide range of products and good brand image helps it maintain
its leading position in the market. The company actively adopts organic
strategies to gain a competitive edge in the market. It has launched
various interventional cardiology products in the last few years.
Besides this, the company also has a strong presence in developed
economies, such as the US. As a result, in 2019, the company generated
50% of its total revenue from the US alone
Challenges:
The availability of alternative treatments and product failures and recalls are the major factors that are expected to restrain the growth of the interventional cardiology market trend during the forecast period. In the past six months, the number of patient visits to hospitals has reduced significantly, despite the fact that emergency and OPD services are available in cardiology departments. Nationwide lockdowns and social distancing measures have reduced patient visits significantly. This has further reduced the sales of interventional cardiology products. Many of the leading players in the interventional cardiology devices market, such as Boston Scientific, Medtronic, and Abbott, have registered a decline in sales for Q2 and Q3 of 2020
Opportunity: Emerging Markets
India, China, and Brazil are relatively untapped markets for interventional cardiology. The high incidence of diabetes and the large geriatric population in these and other emerging countries offer significant growth opportunities for the interventional cardiology devices market.
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North America accounted for the largest share of the interventional cardiology market in 2019. The large share of this segment can primarily be attributed to the rising incidence of cardiovascular diseases, the growing geriatric population, and the strong presence of industry players in the region.
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