Seattle, WA -- (SBWire) -- 11/14/2019 --Interventional Cardiology Devices Market Insights:
The branch of cardiology that deals with catheter-based treatment of heart diseases such as congenital heart defect (CHD), coronary artery disease, and aneurysm is called interventional cardiology. In interventional cardiology, catheter is inserted into femoral artery or any large peripheral artery or vein. It also involves use of fluoroscopy to perform procedure through catheter. Some of the benefits of interventional cardiology include fast recovery, short hospital stay, and controlled bleeding.
Interventional Cardiology Devices Market Drivers:
Increasing prevalence of coronary heart disease (CHD) is also expected to contribute to the market growth. For instance, according to the Centers for Disease Control and Prevention, around 40,000 children were born with CHD in the U.S. in 2016. Increasing geriatric population, high prevalence of obesity, cardiovascular diseases, and coronary artery disease is expected to propel growth of the global Interventional cardiology devices market drivers. For instance, according to the United Nations report, there were around 901 million people of age 60 and above in 2015 and it is expected to reach 1.4 billion by 2050. According to the American Heart Association 2017 report, in the U.S., coronary artery disease led to 360,000 deaths.
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Other factors that contribute to the market growth include, increasing R&D investment in the healthcare sector, high demand for minimal invasive surgery, and increasing patient awareness regarding interventional cardiology devices. Interventional cardiology devices are used to perform the procedure in short span of time, thereby reducing risk and complication.
Increasing development of technologically advanced interventional cardiology devices using bare metal stent and bio-absorbable stent is expected to boost growth of the global Interventional cardiology devices market. Interventional cardiology devices include, catheters, guide wire, stents, filters, and balloons. Government initiatives to increase the awareness of cardiovascular diseases and to conduct regular medical checkup camps is also contributing to growth of market.
Interventional Cardiology Devices Market Restraints:
However, high manufacturing cost interventional cardiology medical devices is hindering growth of the market.
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Interventional Cardiology Devices Market Regional Analysis:
North America is expected to hold dominant position in the global interventional cardiology devices market over the forecast period. This is owing to increasing geriatric population and high prevalence of cardiovascular disorders. For instance, according to Population Reference Bureau 2016, there were around 40 million people of age 60 and above and it is expected to reach 89 million by 2050 in the U.S.
Asia Pacific is expected to witness significant growth in the market over the forecast period, owing to high prevalence of cardiovascular diseases, high healthcare expenditure, increasing geriatric population, and increasing per capita income of individuals.
Interventional Cardiology Devices Market Competitive Landscape:
Key players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in 2017, Abbott acquired St Jude Medicals to expand its product pipeline. St Jude Medicals is focused on development of solutions for the treatment of atrial fibrillation, structural heart, heart failure, and chronic pain. Key players operating in the global interventional cardiology devices market include, Abbott, Terumo Medical Corporation, Medtronic, Cook Medical, B. Braun Melsungen AG, Boston Scientific Corporation, and Cardinal Health.
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Technological Innovations to Boost the Interventional Cardiology Devices Market