The global interventional cardiology and peripheral vascular devices market is anchored in the comprehensive realm of cardiology, addressing heart and circulatory system disorders. This dynamic sector targets heart failure and diverse cardiac ailments, bolstered by the expanding geriatric populace. As the elderly population surges, the demand intensifies for advanced interventional cardiology and peripheral vascular devices, underpinning the market's rapid expansion. This convergence of medical innovation, demographic shifts, and cardiovascular care fuels the market's upward trajectory, driving transformative solutions and enhancing patient outcomes.
According to Data Bridge Market Research, the Global Interventional Cardiology and Peripheral Vascular Devices Market was valued at USD 17,334.47 million in 2021 and is expected to reach USD 29,805.61 million by 2029, registering a CAGR of 7.5% during the forecast period of 2022-2029.
“Increase in the geriatric population to facilitate market growth”
The geriatric population serves as a significant driver of the global interventional cardiology and peripheral vascular devices market. With the aging demographic more susceptible to cardiovascular diseases and peripheral vascular disorders, there's an escalating demand for advanced medical interventions. Interventions such as stents, catheters, and other vascular devices become crucial in addressing age-related health issues. As the elderly population expands worldwide, the market gains momentum, catering to the increasing need for effective and minimally invasive procedures to manage cardiovascular and vascular conditions, thereby propelling the market growth.
What restraints the growth of the global interventional cardiology and peripheral vascular devices market?
“Augmented incidence of product failures”
The global interventional cardiology and peripheral vascular devices market face a restraint stemming from an augmented incidence of product failures. As technology evolves and innovations accelerate, the market witnesses a rise in product development, often accompanied by higher rates of failures and recalls. Such occurrences dent consumer confidence, disrupt market stability, and lead to increased scrutiny by regulatory authorities. The challenges posed by product failures necessitate stringent quality control measures and comprehensive testing protocols, impacting market growth and hindering the seamless advancement of interventional cardiology and peripheral vascular devices.
Segmentation: Global Interventional Cardiology and Peripheral Vascular Devices Market
The interventional cardiology and peripheral vascular devices market are segmented on the basis of product, type, procedure, indication, age group, end user, and distribution channel.
- On the basis of product, the interventional cardiology and peripheral vascular devices market is segmented into angioplasty balloons, stent, catheters, endovascular aneurysm repair stent grafts, inferior vena cava (IVC) filters, plaque modification devices, accessories, and hemodynamic flow alteration devices.
- On the basis of type, the interventional cardiology and peripheral vascular devices market is segmented into conventional and standard.
- On the basis of procedure, the interventional cardiology and peripheral vascular devices market are segmented into iliac intervention, femoropopliteal interventions, tibial (below-the-knee) interventions, peripheral angioplasty, arterial thrombectomy, and peripheral atherectomy.
- On the basis of indication, the interventional cardiology and peripheral vascular devices market is segmented into peripheral arterial disease and coronary intervention.
- On the basis of age group, the interventional cardiology and peripheral vascular devices market is segmented into geriatric, adults, and pediatric.
- On the basis of end user, the interventional cardiology and peripheral vascular devices market is segmented into hospitals, ambulatory surgery centers, nursing facilities, clinics, and others.
- On the basis of distribution channel, the interventional cardiology and peripheral vascular devices market is segmented into direct tender, third party distributors, and others.
Regional Insights: North America dominates the Global Interventional Cardiology and Peripheral Vascular Devices Market
North America leads the interventional cardiology and peripheral vascular devices market driven by its expanding geriatric population and a notable prevalence of peripheral vascular diseases. With a rising number of elderly individuals susceptible to vascular ailments, the region's advanced healthcare infrastructure, and diagnostics contribute to its market dominance, catering to the growing demand for interventional cardiology and peripheral vascular devices.
Asia-Pacific (APAC) anticipates substantial growth from 2022 to 2029 due to an increasing number of product approvals. The region's focus on healthcare advancements and regulatory facilitation drives a surge in approvals for interventional cardiology and peripheral vascular devices. As APAC witnesses regulatory support and technological progress, the market flourishes, enhancing patient access to advanced treatment options and boosting the interventional cardiology and peripheral vascular devices sector.
Recent Development in Global Interventional Cardiology and Peripheral Vascular Devices Market
- In February 2022, Medtronic achieved a significant milestone with the U.S. FDA's approval of the Freezor™ and Freezor™ Xtra Cardiac Cryoablation Focal Catheters. These innovative catheters mark a groundbreaking advancement as the first and only approved tools for treating pediatric Atrioventricular Nodal Reentrant Tachycardia (AVNRT), showcasing Medtronic's commitment to pediatric cardiac care.
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The Prominent Key Players Operating in the Global Interventional Cardiology and Peripheral Vascular Devices Market Include:
- Medtronic (Ireland)
- BD. (U.S.)
- Cordis. (U.S.)
- Abbott. (U.S.)
- Boston Scientific Corporation (U.S.)
- Cook (U.K.)
- Cardiovascular Systems, Inc. (U.S.)
- AngioDynamics. (U.S.)
- Edwards Lifesciences Corporation. (U.S.)
- Biosensors International Group, Ltd. (Singapore)
- W. L. Gore & Associates, Inc. (U.S.)
- Teleflex Incorporated. (U.S.)
- OrbusNeich Medical Company Limited (Hong Kong)
- Merit Medical Systems. (U.S.)
- Terumo Medical Corporation (Japan)
- B. Braun Melsungen AG (Germany)
- MicroPort Scientific Corporation (China)
- Lepu Medical Technology(Beijing)
- Co.,Ltd (China)
- Koninklijke Philips N.V. (Netherlands)
Above are the key players covered in the report, to know about more and exhaustive list of global interventional cardiology and peripheral vascular devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Interventional Cardiology and Peripheral Vascular Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
