Global Interventional Cardiology Market, By Device Type (Conventional Device, Advanced Device), End User (Hospitals, Clinics, Cardiac Catheterization Laboratories, Ambulatory Surgical Centres, Others) - Industry Trends and Forecast to 2030.
Interventional Cardiology Market Analysis and Size
The increasing prevalence of cardiovascular diseases and technological advancements have significantly improved the design and functionality of the interventional cardiology market and have carved the way for market growth. In addition, the rising healthcare expenditure and the increasing geriatric population contribute to the market growth.
Data Bridge Market Research analyzes that the global interventional cardiology market, which was USD 14.61 billion in 2022, would rocket up to USD 23.61 billion by 2030, and is expected to undergo a CAGR of 7.1% during the forecast period. This indicates that the conventional device segment dominates the device type segment of the market owing to the advancements in technology that have led to the development of advancements in interventional cardiology for various use.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Interventional Cardiology Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2030)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Device Type (Conventional Device, Advanced Device), End User (Hospitals, Clinics, Cardiac Catheterization Laboratories, Ambulatory Surgical Centres, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E., Egypt, Israel, Kuwait, South Africa, and Rest of Middle East and Africa
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Market Players Covered
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ABIOMED, Inc. (U.S.), ACIST Medical Systems (U.S.), B. Braun Melsungen AG (U.S.), Biotronik SE & Co. KG (Germany), Boston Scientific Corporation (U.S.), BD (U.S.), Cook (U.S.), Cardinal Health (U.S.), Edwards Lifesciences Corporation (U.S.), Ivascular (Spain), S.L.U. (U.S.), Johnson & Johnson Services, Inc. (U.S.), Medtronic (U.S.), Merit Medical Systems (U.S.), Koninklijke Philips N.V. (U.S.), Abbott (U.S.), Terumo Corporation (Japan), Rontis Corporation (Switzerland), W. L. Gore & Associates, Inc. (U.S.), Biosensors International Group, Ltd. (U.S.), and GENERAL ELECTRIC COMPANY (U.S.) among others
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Market Opportunities
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Market Definition
Interventional cardiology is a branch of cardiology that focuses on diagnosing and treating cardiovascular diseases using minimally invasive techniques. The global interventional cardiology market refers to the worldwide market for medical devices and procedures used in interventional cardiology. Physicians use catheters (thin, flexible tubes) and other medical devices in interventional cardiology to access and treat the heart and blood vessels. These procedures are typically performed through small incisions or punctures in the skin rather than through open surgery, which helps reduce risks, complications, and recovery time for patients.
Global Interventional Cardiology Market Dynamics
Drivers
- Increasing prevalence of cardiovascular diseases
The rising incidence of cardiovascular diseases, such as coronary artery disease, heart attacks, and cardiac arrhythmias, is a major driver for market growth. The need for effective diagnosis and treatment of these conditions has led to the growth in demand for interventional cardiology procedures.
- Preference for minimally invasive procedures
Interventional cardiology procedures are minimally invasive, meaning they involve smaller incisions and have shorter recovery times compared to traditional open-heart surgeries. As patients and physicians increasingly prefer minimally invasive procedures, the demand for interventional cardiology is expected to rise.
- Technological advancements
Advances in interventional cardiology technologies and techniques have greatly improved the outcomes of cardiac procedures. Innovations such as drug-eluting stents, bioresorbable stents, and Transcatheter Aortic Valve Replacement (TAVR) have revolutionized the field, attracting both patients and healthcare providers to interventional cardiology procedures.
Opportunities
- Increasing healthcare expenditure
Increased healthcare spending, particularly in developing countries, has led to improved access to advanced cardiac care, including interventional cardiology. As governments and healthcare organizations invest in upgrading medical infrastructure and facilities, the interventional cardiology market is likely to expand.
- Growing elderly population
The global population is aging, and elderly individuals are more susceptible to cardiovascular diseases. With the increasing aging population, there is a higher demand for interventional cardiology procedures to diagnose and treat cardiac conditions in this group, driving the market growth.
Restraint
- High cost of interventional procedures
Interventional cardiology procedures, such as angioplasty and stenting, can be costly. The high cost can limit access to these procedures in developing countries and create financial burdens for patients and healthcare systems in general.
Challenge
- Stringent regulatory approval processes
The development and commercialization of interventional cardiology devices require extensive clinical trials and regulatory approvals. Stringent regulatory processes can significantly delay the introduction of new devices and technologies to the market, affecting the growth potential of the industry.
This global interventional cardiology market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on this market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In May 2023, Abbott announced a series of new programs within its multi-million-dollar initiative to increase diversity in clinical trials and improve care among under-represented populations
- In May 2022, Babson Diagnostics, a science-first healthcare technology company, and BD, a leading global medical technology company, announced the expansion of a strategic partnership to move blood sample collection into new care settings, including enabling patients to collect blood samples at home for diagnostic testing.
Global Interventional Cardiology Market Scope
The global interventional cardiology market is segmented into two notable segments based on device type and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Device Type
- Conventional Device
- Advanced Device
End User
- Hospitals
- Clinics
- Cardiac Catheterization Laboratories
- Ambulatory Surgical Centres
- Others
Global Interventional Cardiology Market Regional Analysis/Insights
The global interventional cardiology market is analysed and market size insights and trends are provided by device type and end user as referenced above.
The countries covered in this market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa.
North America dominates the global interventional cardiology market due to the presence of major key players, high disposable income, high healthcare expenditure, and a well-developed healthcare sector in this region.
Asia-Pacific is expected to grow during the forecast period of 2023-2030 due to increasing R&D activities, rising investment in the healthcare sector, and growing government support.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The global interventional cardiology market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the market, the impact of technology using lifeline curves, and changes in healthcare regulatory scenarios and their impact on the market. The data is available for the historic period 2015-2020.
Competitive Landscape and Global Interventional Cardiology Market Share Analysis
The global interventional cardiology market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to market .
Some of the major players operating in the global interventional cardiology market are:
- ABIOMED, Inc. (U.S.)
- ACIST Medical Systems (U.S.)
- B. Braun Melsungen AG (U.S.)
- Biotronik SE & Co. KG (Germany)
- Boston Scientific Corporation (U.S.)
- BD (U.S.)
- Cook (U.S.)
- Cardinal Health (U.S.)
- Edwards Lifesciences Corporation (U.S.)
- Ivascular (Spain)
- Johnson & Johnson Services, Inc. (U.S.)
- Medtronic (U.S.)
- Merit Medical Systems (U.S.)
- Koninklijke Philips N.V. (U.S.)
- Abbott (U.S.)
- Terumo Corporation (Japan)
- Rontis Corporation (Switzerland)
- W. L. Gore & Associates, Inc. (U.S.)
- Biosensors International Group, Ltd. (U.S.)
- GENERAL ELECTRIC COMPANY (U.S.)
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