The global interventional cardiologydevices market is expected to reach USD 25.16 billion by
2020, according to a new report by Grand View Research. Increasing prevalence
of cardiovascular diseases coupled with adoption of minimally invasive
surgeries is expected to boost the interventional cardiology device market over
the forecast period. Unhealthy lifestyle habits such as high alcohol
consumption, smoking, and lack of physical exercise are triggering incidences
of cardiovascular diseases. Furthermore, the number of congenital heart disease
patients is on a constant rise and this acts as a growth driver for the market.
Browse full report by Grand View
Research:
http://www.grandviewresearch.com/industry-analysis/interventional-cardiology-devices-market-analysis
According to a report
published by the U.S. CDC (Centers for Disease Control and Prevention) in 2011,
congenital heart defects are the most common birth defects in the U.S.,
affecting approximately 1% of the births every year. The treatment of
cardiovascular disorders has changed dramatically due to the introduction of
new drug therapies and devices such as guidewires and stents allowing the
patient to live better quality and longer lives.
The advent of
technologically advanced internal substitutes plays an integral role in this
market and manufacturers focus on developing new products to curb problems
associated with previous versions. For example, the evolution of stents began
from bare metal stents and has now reached a completely new horizon in the form
of disappearing stents (bio-absorbable stents). Stents accounted for over 70%
market share primarily owing to high usage rates in 2013.
Catheters in sync with
stent are expected to register steady growth to reach up to a market size of
over USD 2.5 billion in 2020. The growth is primarily driven by primarily the
rising demand for minimally invasive medical procedures in the field of
cardiovascular diseases. Faster patient recovery time and lesser procedure
duration are two most significant factors contributing towards the rising
demand of these medical procedures.
The North America
interventional cardiology device market in 2013 was valued at over USD 5.5
billion, owing to factors such as the presence of favorable government
initiatives encouraging new product development, sophisticated healthcare
infrastructure and increasing patient awareness levels coupled with relatively
higher healthcare expenditures in the region.
On the other hand, the
Asia Pacific market is expected to reach over USD 6.4 billion by 2022, growing
at a lucrative rate over the forecast period. The growth is attributed to the
presence of large untapped opportunities, rising healthcare expenditure,
cardiovascular disease incidence rate, and disposable income levels. Prominent
players operating in this industry includes Cordis Corporation, Abbott
Laboratories, Medtronic, Inc, Terumo Medical Corporation, B. Braun Melsungen
AG, and Boston Scientific.
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-interventional-cardiology-devices-market
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
