Vietnam Interventional Cardiology Market, By Product (Guidewire, Catheters, Coronary Stents, Angioplasty Balloon, Vascular Closure Device (VCD), Intravascular Ultrasound (IVUS), Hemodynamic Flow Alteration Devices, Plague Modification Devices, Fractional Flow Reserve (FFR), Accessories), Type (Conventional, Advanced), Indication (Cardiac Catheterization, Percutaneous Coronary Intervention (PCI), Coronary Thrombectomy, Atherectomy, Balloon Angioplasty, Stent Implantation, Hypothermia/Intra-Aortic Balloon Pump, Patent Foramen Ovale Closure, Others), Age (Adults, Paediatric, Geriatric), End User (Hospitals, Cath Laboratories, Academic and Research Institutions, Others), Distribution Channel (Direct Tender, Third Party Distributor, Retail Sales) – Industry Trends and Forecast to 2031.
Vietnam Interventional Cardiology Market Analysis and Size
The high prevalence of cardiovascular diseases and the growing geriatric population across the globe contribute to the growth of the interventional cardiology market. However, the high cost may hamper the growth of the market. The rise in expenditure on healthcare is expected to act as an opportunity for growing the demand for interventional cardiology devices in the market. Low awareness of CVD and its interventions is expected to challenge the interventional cardiology market growth.
Data Bridge Market Research analyzes that the Vietnam interventional cardiology market which was USD 54.77 million in 2023, is likely to reach up to USD 92.70 million by 2031, and is expected to undergo a CAGR of 6.80% during the forecast period 2024-2031. “Catheters” dominate the product segment of the interventional cardiology market because these catheters are used in diagnostic, and treatment procedures and hence have a high rate of consumption and usage. 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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Product (Guidewire, Catheters, Coronary Stents, Angioplasty Balloon, Vascular Closure Device (VCD), Intravascular Ultrasound (IVUS), Hemodynamic Flow Alteration Devices, Plague Modification Devices, Fractional Flow Reserve (FFR), Accessories), Type (Conventional, Advanced), Indication (Cardiac Catheterization, Percutaneous Coronary Intervention (PCI), Coronary Thrombectomy, Atherectomy, Balloon Angioplasty, Stent Implantation, Hypothermia/Intra-Aortic Balloon Pump, Patent Foramen Ovale Closure, Others), Age (Adults, Paediatric, Geriatric), End User (Hospitals, Cath Laboratories, Academic and Research Institutions, Others), Distribution Channel (Direct Tender, Third Party Distributor, Retail Sales)
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Countries Covered
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Vietnam
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Market Players Covered
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Medtronic (Ireland), Teleflex Incorporated (U.S.), Terumo Vietnam Medical Equipment Co., Ltd (A Subsidiary of Terumo Corporation) (Japan), Abbott (U.S.), Boston Scientific Corporation (U.S.), B. Braun Melsungen AG (Germany), USM HEALTHCARE (Singapore), BIOTRONIK (Germany), Stryker (U.S.), Philips Electronics N.V. (A subsidiary of Koninjlkjke Philps NV) (Netherlands), BD (U.S.), Medinol Ltd. (Israel), AngioDynamics (U.S.)
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Market Opportunities
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Market Definition
Interventional cardiology is a field of cardiology wherein catheters are used to diagnose and treat heart diseases. The catheter used in interventional cardiology is a long, tubular, flexible instrument inserted through blood vessels in the radial artery in the arm, the femoral artery in the groin or neck, and threaded to the heart. Through this, an individual’s heart condition can be assessed, a damaged heart valve can be repaired, or a clogged artery can be cleared. Some procedures in interventional cardiology include cardiac catheterization, coronary angioplasty, balloon valvuloplasty, coronary thrombectomy, and cardiac ablation.
Interventional Cardiology Market Dynamics
Drivers
- Increasing cardiovascular disease burden
The rising incidence of cardiovascular diseases (CVDs) in Vietnam is a significant driver for the interventional cardiology market. Factors such as changing lifestyles, dietary habits, and an aging population contribute to the increased prevalence of CVDs. This drives the demand for interventional cardiology procedures, including angioplasty and stent placement.
- Advancements in medical technology
Technological advancements in interventional cardiology, including the development of innovative devices, improved catheterization techniques, and minimally invasive procedures, have made treatments more effective and safer. These innovations attract both patients and healthcare providers and drive market growth.
- Government initiatives and healthcare investments
Government initiatives and investments in the healthcare sector play a vital role in supporting the growth of interventional cardiology in Vietnam. Increased funding for healthcare infrastructure, training programs for medical professionals, and efforts to expand access to advanced cardiac care facilities contribute to market expansion.
- Growing investment for healthcare facilities
Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.
Opportunities
- Rising Demand for Minimally Invasive Procedures
There is a growing preference for minimally invasive procedures in Vietnam, which offer shorter recovery times, reduced hospital stays, and less discomfort for patients. This trend provides an opportunity for interventional cardiology providers to offer a range of minimally invasive treatments, such as angioplasty and transcatheter aortic valve replacement (TAVR), to meet the rising demand.
- Collaboration with Pharmaceutical Companies
Collaboration between interventional cardiology providers and pharmaceutical companies can lead to the development of comprehensive treatment approaches for cardiovascular diseases. This includes combining interventional procedures with pharmaceutical interventions, providing a holistic approach to patient care, and offering opportunities for market expansion.
Restraints
- Limited Access to Specialized care
In Vietnam, access to specialized interventional cardiology care can be limited, especially in rural areas. The concentration of advanced cardiac care facilities in urban centers creates disparities in healthcare access. This constraint can limit the reach of interventional cardiology services to a broader population.
- Cost and Affordability
The cost of interventional cardiology procedures, including the use of advanced medical devices, can be a significant barrier for many patients. The lack of widespread health insurance coverage and the out-of-pocket expenses associated with these treatments can make them unaffordable for a large portion of the population.
Challenges
- Regulatory and Reimbursement Challenges
The regulatory environment and reimbursement policies in Vietnam can pose challenges for healthcare providers in the interventional cardiology sector. Streamlining regulatory approvals and improving reimbursement processes can encourage the growth of this market.
- Healthcare Infrastructure Challenges
Although Vietnam is making investments in healthcare infrastructure, there are still challenges related to the availability of state-of-the-art equipment and facilities in some regions. This can hinder the growth of the interventional cardiology market by limiting the capacity to perform complex procedures.
This interventional cardiology market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, 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 the interventional cardiology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In February 2023, IS Medical AG launched OPN NC percutaneous transluminal coronary angioplasty (PTCA) dilatation catheter with Twin-Wall technology. The OPN NC device’s Twin-Wall design provides a high-pressure resistance with a rated burst pressure of 35 atm with low compliance
- In January 2023, The U.S. FDA approved the BioFreedom Drug Coated Coronary Stent (DCS) System P190020 from Biosensors International. The BioFreedom Drug Coated Coronary Stent System is intended to treat a narrowed blood vessel (coronary artery) caused by coronary artery disease
Vietnam Interventional Cardiology Market Scope
The interventional cardiology market is segmented on the type, product, indication, age, end user, and distribution channel. The growth amongst these segments will help you analyze meagre 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.
Product
- Guidewire
- Catheters
- Coronary Stents
- Angioplasty Balloon
- Vascular Closure Device (VCD)
- Intravascular Ultrasound (IVUS)
- Hemodynamic Flow Alteration Devices
- Plague Modification Devices
- Fractional Flow Reserve (FFR)
- Accessories
Type
- Conventional
- Advanced
Indication
- Cardiac Catheterization
- Percutaneous Coronary Intervention (PCI)
- Coronary Thrombectomy
- Atherectomy
- Balloon Angioplasty
- Stent Implantation
- Hypothermia/Intra-Aortic Balloon Pump
- Patent Foramen Ovale Closure
- Others
Age
- Adult
- Geriatric
- Paediatric
End-user
- Hospitals
- Cath Laboratories
- Academic and Research Institutions
- Others
Distribution Channel
- Direct Tender
- Third party Distributor
- Retail Sales
Healthcare Infrastructure growth Installed base and New Technology Penetration
The interventional cardiology market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for interventional cardiology market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the interventional cardiology market. The data is available for historic period 2010-2020.
Competitive Landscape and Vietnam Interventional Cardiology Market Share Analysis
The interventional cardiology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Vietnam presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to interventional cardiology market.
Some of the major players operating in the interventional cardiology market are:
- Medtronic (Ireland)
- Teleflex Incorporated (U.S.)
- Terumo Vietnam Medical Equipment Co., Ltd (A Subsidiary of Terumo Corporation) (Japan)
- Abbott (U.S.)
- Boston Scientific Corporation (U.S.)
- B. Braun Melsungen AG (Germany)
- USM HEALTHCARE (Singapore)
- BIOTRONIK (Germany)
- Stryker (U.S.)
- Philips Electronics N.V. (A subsidiary of Koninjlkjke Philps NV) (Netherlands)
- BD (U.S.)
- Medinol Ltd. (Israel)
- AngioDynamics (U.S.)
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